Dreyfus To Merge Some Bond Funds

Dreyfus plans to merge a number of retail bond mutual funds that have similar investment strategies, according to documents filed with the Securities and Exchange Commission last week.

The fund mergers are subject to approval by shareholders at special meetings to be held March 1. They come as the money manager's parent company, Mellon Financial(MEL Quote), is in the process of being acquired by Bank of New York(BK Quote). However, Dreyfus spokeswoman Patrice Kozlowski says the fund mergers have been in the works for some time and are "absolutely unrelated to any activity with the Bank of New York."

The $133 million (DPASX Quote)Dreyfus Premier Select Intermediate Municipal Bond Fund will be folded into the $199 million (DMUAX Quote)Dreyfus Premier Select Municipal Bond Fund. ...