Dreyfus Basic U.S. Government Money Market Fund to liquidate in April

By Toni Weeks

San Diego, Feb. 9 - The board of trustees of the Dreyfus Basic U.S. Government Money Market Fund has approved the liquidation of the fund, according to a 497 filing with the Securities and Exchange Commission.

The liquidation will occur on April 11.

On or after Feb. 22, no investments in the fund will be permitted, with the exception of subsequent investments made (i) into any fund accounts that exist as of Feb. 22 and that serve as sweep accounts, (ii) by participants in group retirement plans and their successor plans if the fund was established as an investment option under the plans before Feb. 22 or (iii) as part of the fund's automatic investment plans and dividend reinvestment.

In addition, beginning Feb. 22, transaction fees that apply to redemptions and exchanges of the fund's shares held in accounts with balances below $50,000 will be waived.

Fund shares held on the liquidation date in Dreyfus-sponsored Individual Retirement Accounts and retirement plans will be exchanged for shares of Dreyfus Worldwide Dollar Money Market Fund, Inc., with the exception of shares held in Dreyfus-sponsored 403(b)(7) plans, which will be exchanged for shares of Dreyfus Liquid Assets, Inc. to avoid penalties.

The fund's investment adviser is New York-based Dreyfus Corp.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.