Dreyfus merges Institutional Cash Advantage Plus Fund into Dreyfus Institutional Cash Advantage Fund
Dreyfus merged its Institutional Cash Advantage Plus Fund into Dreyfus Institutional Cash Advantage Fund. The recent SEC filing says, "The Board of Trustees for your fund, Dreyfus Institutional Cash Advantage Plus Fund, has approved the tax-free reorganization of the Fund into Dreyfus Institutional Cash Advantage Fund. The Acquiring Fund, like the Fund, is a money market fund that seeks to maintain a stable share price of $1.00. The Dreyfus Corporation is the investment adviser to the Fund and the Acquiring Fund. The Fund and the Acquiring Fund are each a series of Dreyfus Institutional Cash Advantage Funds. The reorganization of the Fund is expected to occur on or about June 7, 2011. Upon completion of the reorganization, you will become a shareholder of the Acquiring Fund and will receive shares of the same class of the Acquiring Fund equal in value to the value of your shares of the same class you held of the Fund. Management of Dreyfus believes that the reorganization will permit Fund shareholders to pursue the same investment goals in a substantially larger fund that has the same investment objective and substantially similar investment management policies as the Fund. The Acquiring Fund has a comparable total expense ratio and a comparable performance record as the Fund. Management also believes that the reorganization should enable Fund shareholders to benefit from more efficient portfolio management and will eliminate the duplication of resources and costs associated with servicing the funds as separate entities. As a result, management recommended to the Trust's Board of Trustees that the Fund be merged with the Acquiring Fund."
