Dreyfus Third Century ZDRTHX

Morningstar Rating

Fund Research and Analysis

by Ryan Leggio

Dreyfus Third Century loses a manager, but that's not the reason we're lukewarm on this socially conscious fund.

Comanager John O'Toole recently retired from Dreyfus, after working at the company for more than 25 years. He had helped steer this fund with comanager Jocelin Reed since late 2005 when they replaced the previous manager. Read more

Kudos

Moderate volatility compared with its peers. Read more

Risks

Social screens may not suit investors looking for strict standards.

Mega-cap bias means fund will lag when smaller, less-established fare leads the way.

Could be cheaper. Read more

Strategy

Jocelin Reed starts her investment process by using a quantitative model to screen companies based on valuation, financial strength, and price and earnings momentum. She conducts a social screen on stocks that the quant model rates highly, assessing the underlying companies based on their environmental record, labor relations, and consumer-safety profile. Read more

Management

Comanager John O'Toole retired from Dreyfus in late 2009 after working at the company for more than 25 years. That leaves Jocelin Reed of Dreyfus affiliate Mellon Equity at the helm. She started here with O'Toole in December 2005. Reed is the manager of Dreyfus LifeTime Growth DGIIX, a position she has held since September 2003. Read more

Inside Scoop

Performance has been so-so since Jocelin Reed and John O'Toole took charge here in late 2005. They also upped the number of holdings, which should mitigate risk. The same social screens, which aren't as rigorous as others', are still in place. Read more

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