Dreyfus Global Infrastructure Fund
Jun 30
Pursuing demand-driven growth among global listed infrastructure opportunities
Class I DIGNX
2017
Class Y DYGNX
The need to grow and maintain the vast global infrastructure network through private investment may provide strong real-asset growth opportunities for investors. Dreyfus Global
Infrastructure Fund seeks to benefit from such demand-driven prospects through an emphasis on mid-stream listed infrastructure companies that provide perceived essential service
functions, stable cash flow visibility and low direct commodities exposure.
CUSIP
Class I
Class Y
261986244
261986236
Assets for the Fund
$26,509,684
Holdings2
82
Growth of a $10,000
Investment
A hypothetical $10,000
investment in the fund's
Class I shares on 3/30/15
would have been worth
$10,695 on 6/30/17.
Dividend Frequency
Quarterly
Morningstar Category
Infrastructure
Lipper Category
Global Infrastructure
Assumes reinvestment of dividends and capital gains. Performance for the fund's other share classes would vary. Past performance
is no guarantee of future results.
HISTORICAL PERFORMANCE (CL.I @ NAV)3
Investment Adviser
The Dreyfus Corporation
AVERAGE ANNUAL TOTAL RETURNS (6/30/17)1
YTD
3M
1YR
Class I (NAV) 03/30/15
Share Class/Inception Date
14.28%
5.56%
8.76%
Inception
3.03%
Class Y (NAV) 03/30/15
14.28%
5.56%
8.76%
3.03%
FTSE Developed Core Infrastructure
13.22%
5.10%
9.84%
—
50/50 Index (Net Return)4
The performance data quoted represents past performance, which is no guarantee of future results. Share price and investment
return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may
be lower or higher than the performance quoted. Funds with less than 1 year's history, year-to-date and 3 month performance are
not annualized. Go to Dreyfus.com for the fund's most recent month-end returns. The net expense ratio(s) reflect a contractual
expense reduction agreement through 3/1/18. Total Expense Ratios: Class I 1.81%, Class Y 1.81%. Net Expense Ratios: Class I 1.05%,
Class Y 1.05%.
1Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, class restrictions, anticipated holding period and
other relevant factors. 2Portfolio composition is as of 6/30/17 and is subject to change at any time. 3Performance figures may reflect reimbursements or fee waivers,
without which the performance would have been lower. 4Source: FactSet. Reflects reinvestment of net dividends and, where applicable, capital gain distributions.The
FTSE Developed Core Infrastructure 50/50 Index is comprised of market capitalization-weighted infrastructure equities in developed and emerging markets. Companies
are screened from the FTSE Global All Cap Index. The FTSE Developed Core Infrastructure 50/50 Index is comprised of market capitalization-weighted infrastructure
equities in developed and emerging markets. Companies are screened from the FTSE Global All Cap Index. Investors cannot invest directly in any index.
Class I DIGNX
Class Y DYGNX
Dreyfus Global Infrastructure Fund
ASSET ALLOCATION (%)1
TOP COUNTRY EXPOSURES1
TOP TEN LONG HOLDINGS1
GOAL/APPROACH
United States
50.60%
Canada
10.84%
Australia
8.46%
Spain
6.34%
Italy
5.20%
Japan
4.68%
United Kingdom
3.59%
Hong Kong
2.42%
Germany
2.09%
Switzerland
1.92%
The fund seeks to maximize total return consisting of
capital appreciation and current income. To pursue
its goal, the fund normally invests at least 80% of its
net assets, plus any borrowings for investment
purposes, in equity securities issued by companies
located throughout the world that are engaged in
infrastructure businesses. A company will be
considered engaged in the infrastructure business if
it derives at least 50% of its revenues or earnings
from, or devotes at least 50% of the market value of
its assets to, infrastructure-related activities.
PORTFOLIO MANAGEMENT
The fund’s investment adviser is The Dreyfus
Corporation (Dreyfus), and the fund’s sub-adviser is
CenterSquare Investment Management, Inc.
(CenterSquare), an affiliate of Dreyfus. Theodore W.
Brooks III, CFA, is the fund's primary portfolio
manager, a position he has held since May 2016. Mr.
Brooks is a portfolio manager with CenterSquare's
global listed infrastructure securities group.
TOP SECTORS AND INDUSTRIES1
American Tower
4.47%
Transportation
29.67%
NextEra Energy
4.13%
Electric
23.97%
Atlantia
4.03%
Energy
21.05%
Enbridge
3.74%
Specialty
Transurban Group
3.66%
Pipelines
3.81%
Macquarie Infrastructure
2.87%
Diversified
2.87%
Duke Energy
2.86%
Infrastructure
2.42%
Abertis Infraestructuras
2.80%
Transport And Services
2.09%
Sydney Airport
2.71%
Transportation-Misc.
1.37%
Aena
2.60%
Real Estate
1.26%
4.47%
The holdings listed should not be considered
recommendations to buy or sell a security. Large
concentrations can increase share price
volatility.
Investors should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. To obtain a prospectus, or a
summary prospectus, if available, that contains this and other information about a Dreyfus fund, contact your financial advisor or visit dreyfus.com. Read
the prospectus carefully before investing. Investors should discuss with their advisor the eligibility requirements for Class I and Y shares, which are
available only to certain eligible investors, and the historical results achieved by the fund’s respective share classes.
The Dreyfus Corporation and MBSC Securities Corporation are affiliated with The Bank of New York Mellon Corporation.
1Portfolio composition is as of 6/30/17 and is subject to change at any time.
Main Risks
Equity Risk: Equity funds are subject generally to market, market sector, market liquidity, issuer and investment style risks, among other factors, to varying degrees,
all of which are more fully described in the fund’s prospectus. Foreign Investment Risk: Investing in foreign denominated and/or domiciled securities involves special
risks, including changes in currency exchange rates, political, economic, and social instability, limited company information, differing auditing and legal standards,
and less market liquidity. These risks generally are greater with emerging market countries. Infrastructure Sectors Risk: Stocks that invest predominantly in
infrastructure sectors and projects may be subject to a variety of factors that may adversely affect their development, including (but not limited to): high amounts of
leverage and high interest costs in connection with capital construction and improvement programs; difficulty in raising capital in adequate amounts on reasonable
terms in periods of high inflation and unsettled capital markets; and costs associated with compliance with and changes in environmental and other regulations. Funds
that focus on a single sector or asset class may also experience higher volatility than funds that have more diversified portfolios. REIT Risk: In addition to the risks
that are linked to the real estate sector in general, REITs are subject to additional risks. Equity REITs may be affected by changes in the value of the underlying property
owned by the trust, while mortgage REITs may be affected by the quality of any credit extended. Further, REITs are highly dependent upon management skill and often
are not diversified. REITs also are subject to heavy cash flow dependency and to defaults by borrowers or lessees.
The information being provided is general information about our firm and its products and services. It should not be construed as investment advice or a
recommendation with respect to any product or service. Please consult a legal, tax or investment advisor in order to determine whether an investment product or
service is appropriate for a particular situation.
Visit www.Dreyfus.com for more information.
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