Opportunistic Small Cap Portfolio (Prospectus Summary) | Opportunistic Small Cap Portfolio

Fund Summary

Investment Objective

The fund seeks capital growth.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold
shares of the fund. These figures do not reflect any fees or charges imposed by
participating insurance companies under their Variable Annuity contracts (VA
contracts) or Variable Life Insurance policies (VLI policies).

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

Annual Fund Operating Expenses Opportunistic Small Cap Portfolio	Initial Shares	Service Shares
Management fees	0.75%	0.75%
Distribution and/or service (Rule 12b-1) fees	none	0.25%
Other expenses	0.13%	0.13%
Total annual fund operating expenses	0.88%	1.13%

Example

The Example below 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. The Example also
assumes that your investment has a 5% return each year and that the fund's
operating expenses remain the same. The Example does not reflect fees and
expenses incurred under VA contracts and VLI policies; if they were reflected,
the figures in the Example would be higher. Although your actual costs may be
higher or lower, based on these assumptions your costs would be:

Expense Example Opportunistic Small Cap Portfolio (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
Initial Shares	90	281	488	1,084
Service Shares	115	359	622	1,375

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. 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 91.45% 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 considers small cap companies to be those companies with
market capitalizations that fall within the range of the companies in the
Russell 2000® Index at the time of purchase. Stocks are selected for the fund's
portfolio based primarily on bottom-up fundamental analysis. The fund's
portfolio managers use a disciplined investment process that relies, in general,
on proprietary fundamental research and valuation. Generally, elements of the
process include analysis of mid-cycle business prospects, estimation of the
intrinsic value of the company and the identification of a revaluation catalyst.
In general, the fund seeks exposure to securities and sectors that the fund's
portfolio managers perceive to be attractive from a valuation and fundamental
standpoint.

Principal Risks

An investment in the fund is not a bank deposit. It is not insured or guaranteed
by the 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 and value stock risk. By investing in a mix of growth and value
companies, the fund assumes the risks of both. 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 typically lack the dividend yield that can
cushion stock prices in market downturns. Value stocks involve the risk that
they may never reach their expected full market value, either because the
market fails to recognize the stock's intrinsic worth, or the expected value
was misgauged. They also may decline in price even though in theory they
are already undervalued.

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 a security,
the fund may not be able to sell the security in a timely manner at its
perceived value, which could cause the fund's share price to fall.

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 is no guarantee of future results. More recent
performance information may be available at www.dreyfus.com.

Performance information reflects the fund's expenses only and does not reflect
the fees and charges imposed by participating insurance companies under their
VA contracts or VLI policies. Because these fees and charges will reduce total
return, policyowners should consider them when evaluating and comparing the
fund's performance. Policyowners should consult the prospectus for their contract
or policy for more information.

The bar chart shows changes in the performance of the fund's Initial shares
from year to year.

Year-by-Year Total Returns as of 12/31 each year (%) -- Initial Shares

Best Quarter              
Q4, 2010: 21.59%          
Worst Quarter             
Q3, 2011: -30.07%

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

Average Annual Total Returns Opportunistic Small Cap Portfolio	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, 10 Years
Initial Shares	Initial Shares	(13.82%)	(4.59%)	0.29%
Service Shares	Service Shares	(14.03%)	(4.83%)	0.04%
Russell 2000 Index	Russell 2000 Index reflects no deduction for fees, expenses or taxes	(4.18%)	0.15%	5.62%