Dreyfus Select Managers Small Cap Growth Fund (Prospectus Summary) | Dreyfus Select Managers Small Cap Growth Fund

Fund Summary

Investment Objective

The fund seeks capital appreciation.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold
shares of the fund. You may qualify for sales charge discounts if you and your
family invest, or agree to invest in the future, at least $50,000 in certain
funds in the Dreyfus Family of Funds. More information about these and other
discounts is available from your financial professional and in the Shareholder
Guide section on page 11 of the Prospectus and in the How to Buy Shares section
and the Additional Information About How to Buy Shares section on page II-1 and
page III-1, respectively, of the fund's Statement of Additional Information.
Class A shares bought without an initial sales charge as part of an investment
of $1 million or more may be charged a deferred sales charge of 1% if redeemed
within one year.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees Dreyfus Select Managers Small Cap Growth Fund	Class A	Class C	Class I
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)	5.75%	none	none
Maximum deferred sales charge (load) (as a percentage of lower of purchase or sale price)	none	1.00%	none

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses Dreyfus Select Managers Small Cap Growth Fund		Class A	Class C	Class I
Management fees		0.90%	0.90%	0.90%
Distribution and Service (12b-1) Fees		none	0.75%	none
Other expenses (including shareholder services fees)		0.53%	0.51%	0.13%
Total annual fund operating expenses		1.43%	2.16%	1.03%
Fee waiver and/or expense reimbursement	[1]	(0.03%)	(0.01%)
Total annual fund operating expenses (after fee waiver and/or expense reimbursement)		1.40%	2.15%	1.03%

Example

The Example is intended to help you compare the cost of investing in the fund
with the cost of investing in other mutual funds. The Example assumes that you
invest $10,000 in the fund for the time periods indicated and then redeem all
of your shares at the end of those periods. The Example also assumes that your
investment has a 5% return each year and that the fund's operating expenses
remain the same. The one-year example and the first year of the three-, five-
and ten-years examples are based on net operating expenses, which reflect the
expense waiver/reimbursement by The Dreyfus Corporation. Although your actual
costs may be higher or lower, based on these assumptions your costs would be:

Expense Example Dreyfus Select Managers Small Cap Growth Fund (USD $)	Expense Example, with Redemption, 1 Year	Expense Example, with Redemption, 3 Years	Expense Example, with Redemption, 5 Years	Expense Example, with Redemption, 10 Years
Class A	709	999	1,309	2,187
Class C	318	675	1,158	2,492
Class I	105	328	569	1,259

You would pay the following expenses if you did not redeem your shares:

Expense Example, No Redemption Dreyfus Select Managers Small Cap Growth Fund (USD $)	Expense Example, No Redemption, 1 Year	Expense Example, No Redemption, 3 Years	Expense Example, No Redemption, 5 Years	Expense Example, No Redemption, 10 Years
Class A	709	999	1,309	2,187
Class C	218	675	1,158	2,492
Class I	105	328	569	1,259

Portfolio Turnover

The fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover may
indicate higher transaction costs and may result in higher taxes when fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the example, affect the fund's performance.
During the most recent fiscal year, the fund's portfolio turnover rate was
107.62% of the average value of its portfolio.

Principal Investment Strategy

To pursue its goal, the fund normally invests at least 80% of its net
assets, plus any borrowings for investment purposes, in the stocks of
small cap companies. The fund currently considers small cap companies
to be those companies with market capitalizations that fall within the
range of companies in the Russell 2000® Growth Index at the time of
purchase. Because the fund may continue to hold a security whose market
capitalization increases or decreases, a substantial portion of the
fund's holdings can have market capitalizations outside the range of
the Russell 2000 Growth Index at any given time. The fund's portfolio
is constructed so as to have a growth tilt. The fund may invest up to
15% of its net assets in foreign securities.

The fund uses a "multi-manager" approach by selecting one or more
subadvisers to manage the fund's assets. The fund may hire, terminate
or replace subadvisers and modify material terms and conditions of
subadvisory arrangements without shareholder approval. The fund's assets
are currently allocated among five subadvisers, each of which acts
independently of the others and uses its own methodology to select
portfolio investments.

The fund is non-diversified, which means that a relatively high
percentage of the fund's assets may be invested in a limited number
of issuers.

Principal Risks

An investment in the fund is not a bank deposit. It is not insured or guaranteed by
the Federal Deposit Insurance Corporation (FDIC) or any other government agency. It
is not a complete investment program. The fund's share price fluctuates, sometimes
dramatically, which means you could lose money.

o Risks of stock investing. Stocks generally fluctuate more in value than bonds
and may decline significantly over short time periods. There is the chance that
stock prices overall will decline because stock markets tend to move in cycles,
with periods of rising prices and falling prices. The market value of a stock
may decline due to general weakness in the stock market or because of factors
that affect the company or its particular industry.

o Small and midsize company risk. Small and midsize companies carry additional
risks because the operating histories of these companies tend to be more
limited, their earnings and revenues less predictable (and some companies may be
experiencing significant losses), and their share prices more volatile than
those of larger, more established companies. The shares of smaller companies
tend to trade less frequently than those of larger, more established companies,
which can adversely affect the pricing of these securities and the fund's
ability to sell these securities.

o Growth stock risk. Investors often expect growth companies to increase their
earnings at a certain rate. If these expectations are not met, investors can
punish the stocks inordinately, even if earnings do increase. In addition,
growth stocks may lack the dividend yield that may cushion stock prices in
market downturns.

o Market sector risk. The fund may significantly overweight or underweight
certain companies, industries or market sectors, which may cause the fund's
performance to be more or less sensitive to developments affecting those
companies, industries or sectors.

o Liquidity risk. When there is little or no active trading market for specific
types of securities, it can become more difficult to sell the securities at or
near their perceived value. In such a market, the value of such securities and
the fund's share price may fall dramatically. Investments in foreign securities
tend to have greater exposure to liquidity risk than domestic securities.

o Foreign investment risk. Special risks associated with investments in foreign
issuers include exposure to currency fluctuations, less liquidity, less developed
or less efficient trading markets, lack of comprehensive company information,
political and economic instability and differing auditing and legal standards.
Investments denominated in foreign currencies are subject to the risk that such
currencies will decline in value relative to the U.S. dollar and affect the
value of these investments held by the fund.

o Multi-manager risk. Each subadviser makes investment decisions independently,
and it is possible that the investment styles of the subadvisers may not
complement one another. As a result, the fund's exposure to a given stock,
industry or investment style could unintentionally be greater or smaller than it
would have been if the fund had a single adviser. In addition, if one subadviser
buys a security during a time frame when another subadviser sells it, the fund
will incur transaction costs and the fund's net position in the security may be
approximately the same as it would have been with a single adviser and no such
sale and purchase.

o Allocation risk. There can be no assurance that the allocation of the fund's
assets among the subadvisers will be effective in achieving the fund's
investment goal.

o Non-diversification risk. The fund is non-diversified, which means that the
fund may invest a relatively high percentage of its assets in a limited number
of issuers. Therefore, the fund's performance may be more vulnerable to changes
in the market value of a single issuer or group of issuers and more susceptible
to risks associated with a single economic, political or regulatory occurrence
than a diversified fund.

Performance

The following bar chart and table provide some indication of the risks of
investing in the fund. The table compares the average annual total returns
of the fund's shares to those of a broad measure of market performance. The
fund's past performance (before and after taxes) is no guarantee of future
results. More recent performance information may be available at www.dreyfus.com.

The bar chart shows the performance of the fund's Class A shares for its first
full calendar year of operations. Sales charges, if any, are not reflected in
the bar chart, and if those charges were included, returns would have been less
than those shown.

Year-by-Year Total Returns as of 12/31 each year (%) -- Class A

Best Quarter    
Q1, 2011: 11.18%
Worst Quarter   
Q3, 2011: -18.11%         

The year-to-date total return of the fund's Class A shares as of                 
6/30/12 was 9.01%.

After-tax performance is shown only for Class A shares. After-tax performance
of the fund's other share classes will vary. After-tax returns are calculated
using the historical highest individual federal marginal tax rates, and do not
reflect the impact of state and local taxes. Actual after-tax returns depend
on the investor's tax situation and may differ from those shown, and the
after-tax returns shown are not relevant to investors who hold their shares
through tax-deferred arrangements such as 401(k) plans or individual retirement
accounts.

Average Annual Total Returns (as of 12/31/11)

Average Annual Total Returns Dreyfus Select Managers Small Cap Growth Fund	Label	1 Year	Since Inception	Inception Date
Class A	Class A returns before taxes	(4.78%)	16.10%	Jul. 01, 2010
Class A After Taxes on Distributions	Class A returns after taxes on distributions	(4.78%)	16.05%	Jul. 01, 2010
Class A After Taxes on Distributions and Sales	Class A returns after taxes on distributions and sale of fund shares	(3.11%)	13.74%	Jul. 01, 2010
Class C	Class C returns before taxes	(0.69%)	19.89%	Jul. 01, 2010
Class I	Class I returns before taxes	1.28%	21.10%	Jul. 01, 2010
Russell 2000 Growth Index	Russell 2000 Growth Index reflects no deduction for fees, expenses or taxes	(2.91%)	18.07%

[1] The Dreyfus Corporation has contractually agreed, until at least October 1, 2013, to waive receipt of its fees and/or assume the expenses of the fund so that the expenses of none of the classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, interest, brokerage commissions, commitment fees and extraordinary expenses) exceed 1.15%. On or after October 1, 2013, The Dreyfus Corporation may terminate the expense limitation at any time.