Dreyfus Intermediate Term Income Fund to acquire Dreyfus/Standish fund

By Toni Weeks

San Diego, July 27 - The board of trustees of Dreyfus Investment Funds has approved the reorganization of the Dreyfus/Standish Fixed Income Fund into the Dreyfus Intermediate Term Income Fund, a series of Dreyfus Investment Grade Funds, Inc.

According to a 497 filing with the Securities and Exchange Commission, shareholders of the Dreyfus/Standish fund will be asked to approve the reorganization at a meeting on Nov. 15. If approved, the reorganization will become effective Jan. 18.

The Dreyfus Intermediate Term Income Fund seeks to maximize total return consisting of capital appreciation and current income by investing at least 80% of its assets in fixed-income securities of U.S. and foreign issuers rated investment grade or equivalent.

The Dreyfus/Standish fund will be closed to investments for new accounts, except for participants in some group employer retirement plans and wrap programs that establish the fund as an investment option under the wrap program by Aug. 27.

New York-based Dreyfus Corp. is the investment adviser to the funds.

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