Fund Description

The fund was incepted in September 1961 and is managed by Dreyfus Corporation. The fund's main objective is to seek capital appreciation by emphasizing investments in equity securities of medium-size companies with favorable growth prospects. To pursue this goal, the fund normally invests at least 80% of its assets in equity securities of companies having a market capitalization within the capitalization range of companies comprising the Russell MidCap Growth Index. The fund may also invest in larger or smaller companies if they represent better prospects for capital appreciation. The fund may invest up to 30% of its total assets in foreign securities, with no more than 25% of its total assets invested in the securities of any one foreign country. If there are any dividends and capital gains, the management generally distributes them annually in December.