497 1 sticker6275.htm SUPPLEMENT TO PROSPECTUS AND SAI sticker6275.htm - Generated by SEC Publisher for SEC Filing

 

                                                                                                           

 

                                                        July 20, 2010

 

 

DREYFUS DYNAMIC ALTERNATIVES FUND, INC.

SUPPLEMENT TO PROSPECTUS DATED MARCH 8, 2010

 

The following information supersedes and replaces any contrary information contained in the sections of the fund's Prospectus entitled “Fund Summary - Portfolio Management” and “Fund Details - Management”:

 

Investment decisions for the fund are made by the Global Asset Allocation Team of Mellon Capital Management Corporation (Mellon Capital), consisting of Helen Potter, Vassilis Dagioglu, James Stavena, Torrey Zaches and Joseph Miletich, each of whom serves as portfolio manager of the fund.  The team has managed the fund since July 2010.  Ms. Potter is a Managing Director of Mellon Capital, where she has managed investment portfolios since 1996.  Prior to 2008, Mr. Miletich was a partner and senior consultant at New England Pension Consultants and previously worked with Tower Perrin as an actuarial analyst.  Messrs. Dagioglu, Stavena and Miletich are Managing Directors of Mellon Capital, where they have been employed since 1999, 1998 and 2008, respectively.  Mr. Zaches is a Director of Mellon Capital, where he has been employed since 1998.  There are no limitations on the role of a team member with respect to investment decisions for the fund.

 


 

                                                                                                                                                                   July 20, 2010

 

DREYFUS DYNAMIC ALTERNATIVES FUND, INC.

 

SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION

DATED MARCH 8, 2010

 

The following information supersedes and replaces any contrary information contained in the section of the Statement of Additional Information entitled “Management Arrangements –Portfolio Management.”

 The portfolio managers for the Fund are Helen Potter, Vassilis Dagioglu, James Stavena, Torrey Zaches and Joseph Militich.

The following information supersedes and replaces any contrary information contained in the section of the Statement of Additional Information entitled “Management Arrangements – Additional Information About the Portfolio Managers.”

The following table lists the number and types of other accounts advised by the primary portfolio managers, and assets under management in those accounts as of June 30, 2010:

 

 

 

Portfolio Manager

Registered Investment Company Accounts

 

 

Assets Managed

 

 

Pooled Accounts*

 

 

Assets

Managed

 

 

Other

Accounts**

 

 

Assets

Managed

Helen Potter

10

$9.8 Billion

24

$6.2 Billion

133

$7.8 Billion

Vassilis Dagioglu

10

$9.8 Billion

24

$6.2 Billion

133

$7.8 Billion

James Stavena

10

$9.8 Billion

24

$6.2 Billion

133

$7.8 Billion

Torrey Zaches

10

$9.8 Billion

24

$6.2 Billion

133

$7.8 Billion

Joseph Militich

10

$9.8 Billion

24

$6.2 Billion

133

$7.8 Billion

 

 *   The advisory fee for nine of these accounts, which have total assets of approximately $1 billion, is based on the performance of the respective account.

**  The advisory fee for fifteen of these accounts, which have total assets of approximately $3.8 billion, is based on the performance of the respective   account.

 

         The dollar range of Fund shares beneficially owned by the primary portfolio managers are as follows as of June 30, 2010:

 

 

Portfolio Manager

Dollar Range of Fund

Shares Beneficially Owned

 

Helen Potter

None

Vassilis Dagioglu

None

James Stavena

None

Torrey Zaches

None

Joseph Militich

$50,001-$100,000