For more control over your taxes, consider investing in what are commonly known as separate accounts. Although separate accounts aren't mutual funds, they can share some similarities — including professional management and built-in diversification. Unlike funds, however, separate accounts are individually managed for you, not a group of shareholders.

This gives the portfolio manager far more control over taxable events and doesn't subject you to the negative tax consequences of redemptions by other fund shareholders. Keep in mind that separate account managers typically advertise the performance of a composite of similarly managed accounts and individual accounts will vary reflecting individual tax situations. Separate accounts also generally require significantly higher minimum investments and shareholder net worth than do mutual funds.

Click here for more information about separate accounts. Dreyfus makes separate accounts from institutional asset managers available to individuals through the Dreyfus Managed Asset Program^SM.

This information is general in nature and is not intended to constitute tax advice. Please consult your tax advisor for more detailed information on tax issues and for advice on your specific situation.

Click here to read our Online Privacy Policy and Terms of Use.
© MBSC Securities Corporation, Distributor