Dreyfus plans new fund to match MSCI ACWI Ex-U.S. Index performance

By Toni Weeks

San Diego, Dec. 30 - Dreyfus Index Funds, Inc. announced in an N-1A filing with the Securities and Exchange Commission its plans for a new fund that will seek to match the performance of the Morgan Stanley Capital International All Country World Ex-U.S. Index.

The Dreyfus ACWI Ex-U.S. Index Fund plans to achieve its objective by investing in stocks included in the index and entering into futures contracts and other financial instruments whose performance is tied to certain countries included in the index. Its investments in developed market countries will be in the same proportions as their weightings in the index.

The fund's investment adviser, New York-based Dreyfus Corp., will waive receipt of its fees and/or assume expenses until April 1, 2013, resulting in total annual fund operating expenses of 0.4% for institutional class shares and 0.65% for investor class shares, the two share classes that will be offered.

The portfolio managers will be Thomas J. Durante, Karen Q. Wong and Richard A. Brown.

Durante is a senior portfolio manager with Mellon Capital Management Corp., an affiliate of Dreyfus. Wong is a managing director of equity index strategies with Mellon Capital. Brown is a director of equity portfolio management with Mellon Capital. All three are also employees of Dreyfus.

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