Dreyfus AMT-Free Municipal Bond Fund (Prospectus Summary) | Dreyfus AMT-Free Municipal Bond Fund

Fund Summary

Investment Objective

The fund seeks as high a level of current income exempt from federal income tax
as is consistent with the preservation of capital.

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 8 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 1.00% if
redeemed within one year.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees Dreyfus AMT-Free Municipal Bond Fund	Class A	Class C	Class I	Class Z
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)	4.50%	none	none	none
Maximum deferred sales charge (load) (as a percentage of lower of purchase or sale price)	none	1.00%	none	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 AMT-Free Municipal Bond Fund		Class A	Class C	Class I	Class Z
Management fees		0.60%	0.60%	0.60%	0.60%
Distribution (12b-1) fees		none	0.75%	none	none
Other expenses (including shareholder services fees)		0.37%	0.38%	0.13%	0.16%
Total annual fund operating expenses		0.97%	1.73%	0.73%	0.76%
Fee waiver and/or expense reimbursement		(0.27%)	(0.28%)	(0.28%)	(0.26%)
Total annual fund operating expenses (after fee waiver and/or expense reimbursement)	[1]	0.70%	1.45%	0.45%	0.50%

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 AMT-Free Municipal Bond 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	518	719	937	1,563
Class C	248	518	912	2,018
Class I	46	205	378	880
Class Z	51	217	397	918

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

Expense Example, No Redemption Dreyfus AMT-Free Municipal Bond 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	518	719	937	1,563
Class C	148	518	912	2,018
Class I	46	205	378	880
Class Z	51	217	397	918

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
22.11% of the average value of its portfolio.

Principal Investment Strategy

To pursue its goal, the fund normally invests substantially all of its net
assets in municipal bonds that provide income exempt from federal income tax.
The fund also seeks to provide income exempt from the federal alternative
minimum tax. The fund invests at least 65% of its assets in municipal bonds
with an A or higher credit rating, or the unrated equivalent as determined
by The Dreyfus Corporation. The fund may invest the remaining 35% of its
assets in municipal bonds with a credit rating lower than A, including
municipal bonds rated below investment grade ("high yield" or "junk" bonds),
or the unrated equivalent as determined by The Dreyfus Corporation.

The dollar-weighted average maturity of the fund's portfolio normally exceeds
ten years, but the fund may invest without regard to maturity.

The portfolio managers focus on identifying undervalued sectors and securities.
To select municipal bonds for the fund, the portfolio managers use fundamental
credit analysis to estimate the relative value and attractiveness of various
sectors and securities and actively trade among various sectors based on their
apparent values.

Although the fund seeks to provide income exempt from federal income tax, the
fund may invest temporarily in taxable bonds, including when the portfolio
managers believe acceptable municipal bonds are not available for investment.

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 Municipal bond market risk. The amount of public information available about
municipal bonds is generally less than that for corporate equities or bonds.
Special factors, such as legislative changes, and state and local economic and
business developments, may adversely affect the yield and/or value of the fund's
investments in municipal bonds. Other factors include the general conditions of
the municipal bond market, the size of the particular offering, the maturity of
the obligation and the rating of the issue. Changes in economic, business or
political conditions relating to a particular municipal project, municipality,
or state in which the fund invests may have an impact on the fund's share price.

o Interest rate risk. Prices of municipal bonds tend to move inversely with
changes in interest rates. Typically, a rise in rates will adversely affect
bond prices and, accordingly, the fund's share price. The longer the effective
maturity and duration of the fund's portfolio, the more the fund's share price
is likely to react to interest rates.

o Credit risk. Failure of an issuer to make timely interest or principal
payments, or a decline or perception of a decline in the credit quality of a
municipal bond, can cause the bond's price to fall, potentially lowering the
fund's share price. The lower a bond's credit rating, the greater the chance -
in the rating agency's opinion - that the bond issuer will default or fail to
meet its payment obligations. To the extent the fund invests in high yield
("junk") bonds, its portfolio is subject to heightened credit risk.

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, even during periods of declining
interest rates. The secondary market for certain municipal bonds tends to be
less well developed or liquid than many other securities markets, which may
adversely affect the fund's ability to sell such municipal bonds at attractive
prices.

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 not necessarily an
indicator of how the fund will perform in the future. More recent performance
information may be available at www.dreyfus.com.

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

Best Quarter
Q3, 2009: 8.67%
Worst Quarter
Q4, 2010: -5.08%

The year-to-date total return of the fund's Class Z shares
as of 9/30/12 was 7.12%.

After-tax performance is shown only for Class Z 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.

Performance figures for the fund's Class A, Class C and Class I shares for
periods prior to the inception date of such classes reflect the performance
of the fund's Class Z shares adjusted to reflect any applicable sales charge.
Such performance figures have not been adjusted, however, to reflect applicable
class fees and expenses; if such fees and expenses had been reflected, the
performance shown for Class A and Class C shares for such periods may have been
lower.

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

Average Annual Total Returns Dreyfus AMT-Free Municipal Bond Fund	Label	1 Year	5 Years	10 Years	Inception Date
Class A	Class A returns before taxes	6.00%	3.33%	4.31%	Mar. 31, 2003
Class C	Class C returns before taxes	9.18%	3.50%	4.11%	Mar. 31, 2003
Class I	Class I returns before taxes	11.27%	4.54%	5.04%	Dec. 15, 2008
Class Z	Class Z returns before taxes	11.21%	4.52%	5.03%	May 06, 1994
After Taxes on Distributions Class Z	Class Z returns after taxes on distributions	11.21%	4.52%	5.02%	May 06, 1994
After Taxes on Distributions and Sales Class Z	Class Z returns after taxes on distributions and sale of fund shares	8.93%	4.51%	4.97%	May 06, 1994
Barclays Municipal Bond Index	Barclays Municipal Bond Index reflects no deduction for fees, expenses or taxes	10.70%	5.22%	5.30%

[1] The Dreyfus Corporation has contractually agreed, until May 1, 2014, to waive receipt of its fees and/or assume the expenses of the fund so that total annual fund operating expenses of none of the classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, brokerage commissions, interest expenses, commitment fees on borrowings and extraordinary expenses) exceed 0.45%. On or after May 1, 2014, The Dreyfus Corporation may terminate this expense waiver at any time.