The Board of Trustees of Dreyfus Stock Funds is putting the brakes on a planned reorganization of the $114 million Dreyfus Small Cap Equity Fund.
According to a regulatory filing, the fund’s board originally held a meeting on February 11 approving a transfer of the Dreyfus Small Cap Equity Fund to the $445 million Dreyfus/The Boston Company Small Cap Value Fund. However, Board held a subsequent meeting and decided to abandon the regorg “based upon information provided by The Dreyfus Corporation and The Boston Company Asset Management, an affiliate of Dreyfus, regarding current market conditions and the potential adverse tax consequences to fund shareholders if the reorganization was to occur.”
Therefore, the Small Cap Fund will reopen to new investors on April 11. The fund was launched in February 2000 and is managed by Joseph Corrado and Stephanie Brandaleone.
The Dreyfus Corporation, established in 1951 and headquartered in New York City, currently manages more than $260 billion in mutual funds and separately managed accounts.