NEW YORK, April 15, 2011 /PRNewswire/ -- The Dreyfus Corporation, part of BNY Mellon Asset Management, announced today that it is expanding its emerging markets offerings by launching the Dreyfus India Fund.
The Fund's investment adviser is Dreyfus. Dreyfus has engaged its affiliate, Hamon U.S. Investment Advisors Limited, to serve as the Fund's sub-investment adviser.
"India is the 8th largest economy in the world and we see enormous opportunity," said Dreyfus Chairman and CEO Jon Baum. "Dreyfus has leveraged Hamon's expertise in Asian markets through its management of Dreyfus Greater China Fund and Dreyfus Emerging Asia Fund. We are confident that Hamon will continue to uncover opportunities for shareholders in this vibrant market."
"We believe that the combination of favorable demographics, supportive structural reforms, increasing globalization, and improving fundamentals within India's borders should translate into job creation, income growth, and higher savings and investment - a good formula for achieving and sustaining strong GDP growth," said Hamon CEO Hugh Simon, a portfolio manager for Dreyfus India Fund. "We believe that India is becoming more and more of a domestic-driven economy and thereby decreasing its dependence on the health of the western, more developed economies. Domestic consumption has fueled much of India's economic growth over the last few years and should be the key driver of the country's future growth over the long run. The demographics of India make the country very well positioned to experience strengthening consumption patterns into the foreseeable future."
Designed to achieve long-term capital appreciation, through investments in Indian companies, Dreyfus India Fund normally invests at least 80% of its assets in the securities of Indian issuers and other investments that are tied economically to India.
Dreyfus India Fund may invest in equity and fixed income securities. The Fund's portfolio managers generally seek companies with accelerated earnings outlooks and whose share prices appear to be reasonably valued relative to their growth potential. Characteristics of such companies generally include high-quality corporate governance, management with a commitment to increasing shareholder value, strong earnings momentum with consistent free cash flow generation, sound business fundamentals and long-term vision. The Fund may invest up to 20% of its assets in the securities of issuers located in countries other than India.
For further information on Dreyfus India Fund, please call 1-800-554-4611.
Notes to Editors:
The Dreyfus Corporation, established in 1951 and headquartered in New York City, is one of the nation's leading asset management and distribution companies, currently managing more than $400 billion in mutual funds and separately managed accounts.
BNY Mellon Asset Management is the umbrella organization for BNY Mellon's affiliated investment management firms and global distribution companies.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.
Hamon U.S. Investment Advisors Limited (Hamon), based in Hong Kong, specializes in Asian equity investment. The firm is led by an experienced management team, with members drawn from a wide variety of disciplines. Senior executives of Hamon are the majority shareholders of Hamon Investment Group Ptd Limited, the parent of Hamon, while The Bank of New York Mellon Corporation holds a 19.9% minority stake in Hamon's parent.
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.
Investing internationally involves special risks, including changes in currency exchange rates, political, economic and social instability, a lack of comprehensive company information, differing auditing and legal standards and less market liquidity. These risks are generally greater with emerging market countries, such as India and countries in the India region, than with more economically and politically established foreign countries.
Because the fund's investments are concentrated in India, the fund's performance is expected to be closely tied to social, political and economic conditions within India and to be more volatile than the performance of more geographically diversified funds.
Foreign currencies are also subject to risks caused by inflation, interest rates, budget deficits and low savings rates, political factors and government controls.
For more complete information on the fund, including investment risks associated with an investment in the fund, please refer to the fund's prospectus.
All information source BNY Mellon Asset Management as of December 31, 2010. This press release is qualified for issuance in the US only and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorized. This press release is issued by BNY Mellon Asset Management to members of the financial press and media and the information contained herein should not be construed as investment advice. Past performance is not a guide to future performance. A BNY Mellon Company(SM)
SOURCE Dreyfus; Hamon; BNY Mellon Asset Management