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From: stern@tilt.FUN
Newsgroups: net.invest
Subject: Re: want info on Dreyfus funds
Message-ID: <13000003@tilt.FUN>
Date: Fri, 4-Oct-85 16:32:00 EDT
Article-I.D.: tilt.13000003
Posted: Fri Oct  4 16:32:00 1985
Date-Received: Sat, 5-Oct-85 07:13:11 EDT
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Nf-From: tilt!stern    Oct  4 16:32:00 1985

A few words in defense of Dreyfus:

They do not appear in the honor roll of funds because they never have
a truly stellar year (in bull markets).  By truly stellar I mean making it
into the top one or two percent of all funds in existence.  They do pretty
well, though (speaking for A Bonds, at least).

On the other hand, the Dreyfus Liquid Assets MM fund is one of the top
five money market funds in the country: they maintain a shorter average
maturity during periods of low interest rates, and move toward longer
term paper when rates are at "higher" levels.  In short, you move up
the low rate -> high rate curve with the market, but when rates fall,
the fund is locked into longer term paper that keeps it above the rest.
Check out the past 18 months of Barron's to verify this.