
Dreyfus Conservative Allocation Fund (Prospectus Summary): \| Dreyfus Conservative Allocation Fund
DREYFUS CONSERVATIVE ALLOCATION FUND
November 9, 2012 DREYFUS ALLOCATION FUNDS DREYFUS CONSERVATIVE ALLOCATION FUND DREYFUS GROWTH ALLOCATION FUND DREYFUS MODERATE ALLOCATION FUND Supplement to Summary Prospectus and Statutory Prospectus dated January 1, 2012 The following supersedes the information contained in the funds' prospectus under the section entitled “Fund Summary — Principal Investment Strategy — Equity Investments — U.S. Large-Cap”:
For each Fund, Dreyfus Disciplined Stock Fund replaces Dreyfus/The Boston Company Large Cap Core Fund.

Principal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.

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