Dreyfus Taps Broker/Dealer Channel With Separate Accounts
February 28, 2000
The Dreyfus Corporation of New York has begun offering separate account management services to institutional investors and high-net worth investors. Account minimums are $100,000.
Services are offered to clients who work with third-party intermediaries such as broker/dealers and financial planners. Dreyfus has made arrangements with First Union Securities of Charlotte, N.C. and PaineWebber and Salomon Smith Barney, both of New York.
Fayez Sarofim & Co. of Houston, Texas, a large-cap growth equity manager that sub-advises four of Dreyfus' proprietary mutual funds, will be the first of several planned separate account managers. Dreyfus expects to expand its separately-managed account program to include a technology, a socially-responsible, an international and a municipal bond manager, all of whom currently manage similar assets for Dreyfus funds or through other investment management affiliates of Dreyfus' parent company, Mellon Financial Corp. of Pittsburgh.