Dreyfus Corp.'s separately managed accounts have grown about 56% since the beginning of the year, as the New York asset manager has seen assets flow into these products from mutual funds, annuities and other investment vehicles.

Michael G. Millard, the president of the Dreyfus unit of Mellon Financial Corp., said his company had $2.5 billion of assets under management in separately managed accounts as of May 31. Dreyfus’ separate accounts unit was started in February 2000, he said, and its assets grew from $211 million at the end of 2000 to $1.6 billion by the end of 2001.

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