Dreyfus Inflation Adjusted Securities Fund (Prospectus Summary) | Dreyfus Inflation Adjusted Securities Fund

Fund Summary

Investment Objective

The fund seeks returns that exceed the rate of inflation.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold
shares of the fund.

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

Annual Fund Operating Expenses Dreyfus Inflation Adjusted Securities Fund	Institutional Shares	Investor Shares
Management fees	0.30%	0.30%
Other expenses (including shareholder services fees)	0.07%	0.40%
Total annual fund operating expenses	0.37%	0.70%

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. Although your actual costs may be higher or lower, based on
these assumptions your costs would be:

Expense Example Dreyfus Inflation Adjusted Securities 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
Institutional Shares	38	119	208	468
Investor Shares	72	224	390	871

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
97.40% 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 inflation-indexed securities.
These are fixed-income securities designed to protect investors from a loss of
value due to inflation by periodically adjusting their principal and/or coupon
according to the rate of inflation. The inflation-indexed securities issued by
the U.S. Treasury and some foreign government issuers, for example, accrue
inflation into the principal value of the bond. Other issuers may pay out the
Consumer Price Index accruals as part of a semi-annual coupon.

The fund primarily invests in high quality, U.S. dollar-denominated,
inflation-indexed securities. To a limited extent, the fund may invest in
foreign currency-denominated, inflation-protected securities and other
fixed-income securities not adjusted for inflation which are rated investment
grade or the unrated equivalent as determined by The Dreyfus Corporation. Such
other fixed-income securities may include: U.S. government bonds and notes,
corporate bonds, mortgage-related securities and asset-backed securities.

The fund seeks to keep the average effective duration of its portfolio at two
to ten years. The fund may invest in individual fixed-income securities of any
maturity or duration. The fund may adjust its portfolio holdings or average
effective duration based on actual or anticipated changes in interest rates
or credit quality.

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 Interest rate risk. Prices of 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
bond, can cause a 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. Securities issued by the U.S. Treasury or U.S. government agencies
generally present minimal credit risk. However, a security backed by the U.S.
Treasury or the full faith and credit of the United States is guaranteed only
as to the timely payment of interest and principal when held to maturity. The
market prices for such securities are not guaranteed and will fluctuate.

o Inflation-indexed security risk. Interest payments on inflation-indexed
securities can be unpredictable and will vary as the principal and/or interest
is periodically adjusted based on the rate of inflation. If the index measuring
inflation falls, the interest payable on these securities will be reduced. The
U.S. Treasury has guaranteed that in the event of a drop in prices, it would
repay the par amount of its inflation-indexed securities. Inflation-indexed
securities issued by corporations generally do not guarantee repayment of
principal. Any increase in the principal amount of an inflation-indexed security
will be considered taxable ordinary income, even though investors do not receive
their principal until maturity. As a result, the fund may be required to make
annual distributions to shareholders that exceed the cash the fund received,
which may cause the fund to liquidate certain investments when it is not
advantageous to do so. Also, if the principal value of an inflation-indexed
security is adjusted downward due to deflation, amounts previously distributed
may be characterized in some circumstances as a return of capital.

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.

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 Government securities risk. Not all obligations of the U.S. government, its
agencies and instrumentalities are backed by the full faith and credit of the
U.S. Treasury. Some obligations are backed only by the credit of the issuing
agency or instrumentality, and in some cases there may be some risk of default
by the issuer. Any guarantee by the U.S. government or its agencies or
instrumentalities of a security held by the fund does not apply to the market
value of such security or to shares of the fund itself. A security backed by the
U.S. Treasury or the full faith and credit of the United States is guaranteed
only as to the timely payment of interest and principal when held to maturity.
In addition, because many types of U.S. government securities trade actively
outside the United States, their prices may rise and fall as changes in global
economic conditions affect the demand for these securities.

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 changes in the performance of the fund's Institutional
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 (%) -- Institutional Shares

Best Quarter                      
Q1, 2008: 5.33%                   

Worst Quarter                     
Q3, 2008: -3.41%                  
                                                                                
The year-to-date total return of the fund's Institutional shares as of 9/30/12  
was 5.81%.

After-tax performance is shown only for Institutional 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 Inflation Adjusted Securities Fund	Label	1 Year	5 Years	Since Inception	Inception Date
Institutional Shares	Institutional shares returns before taxes	13.20%	7.76%	6.47%	Oct. 31, 2002
Institutional Shares After Taxes on Distributions	Institutional shares returns after taxes on distributions	11.33%	6.33%	4.60%	Oct. 31, 2002
Institutional Shares After Taxes on Distributions and Sales	Institutional shares returns after taxes on distributions and sale of fund shares	8.58%	5.82%	4.42%	Oct. 31, 2002
Investor Shares	Investor shares returns before taxes	12.84%	7.46%	6.18%	Oct. 31, 2002
Barclays U.S. Treasury Inflation Protected Securities Index	Barclays U.S. Treasury Inflation Protected Securities Index reflects no deduction for fees, expenses or taxes	13.56%	7.95%	6.87%	Oct. 31, 2002