0000914775-14-000039.txt : 20140410 0000914775-14-000039.hdr.sgml : 20140410 20140410131538 ACCESSION NUMBER: 0000914775-14-000039 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20140410 DATE AS OF CHANGE: 20140410 EFFECTIVENESS DATE: 20140410 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Advantage Funds, Inc. CENTRAL INDEX KEY: 0000914775 IRS NUMBER: 133851784 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-51061 FILM NUMBER: 14756124 BUSINESS ADDRESS: STREET 1: THE DREYFUS CORPORATION STREET 2: 200 PARK AVENUE 8TH FLOOR WEST CITY: NEW YORK STATE: NY ZIP: 10166 BUSINESS PHONE: 2129226754 MAIL ADDRESS: STREET 1: 200 PARK AVENUE, 8TH FLOOR STREET 2: THE DREYFUS CORPORATION CITY: NEW YORK STATE: NY ZIP: 10166 FORMER COMPANY: FORMER CONFORMED NAME: DREYFUS GROWTH & VALUE FUNDS INC DATE OF NAME CHANGE: 19951004 FORMER COMPANY: FORMER CONFORMED NAME: DREYFUS FOCUS FUNDS INC DATE OF NAME CHANGE: 19940304 FORMER COMPANY: FORMER CONFORMED NAME: DREYFUS GROWTH & VALUE FUND INC DATE OF NAME CHANGE: 19931116 0000914775 S000031204 Dreyfus Global Dynamic Bond Fund C000096886 A DGDAX C000096887 C DGDCX C000096888 I DGDIX C000130432 Class Y DGDYX 497 1 byreference2506298.htm INCOPORATED BY REFERENCE byreference2506298.htm - Generated by SEC Publisher for SEC Filing

 

Advantage Funds, Inc.

-Dreyfus Global Dynamic Bond Fund

 

Incorporated herein by reference are the definitive versions of the above-referenced funds’ prospectuses filed pursuant to Rule 497(e) under the Securities Act of 1933, as amended, on March 27, 2014 (SEC Accession No. 0000914775-14-000025).

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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. Management fees and Total annual fund operating expenses have been restated to reflect a new Management Agreement with The Dreyfus Corporation effective April 1, 2014, which provides for a reduced management fee payable by the fund of .45%. All of the services provided under the prior Management Agreement remain unchanged. The fund's investment adviser, The Dreyfus Corporation, has contractually agreed, until March 1, 2015, to waive receipt of its fees and/or assume the direct 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 on borrowings and extraordinary expenses) exceed 0.70%. On or after March 1, 2015, The Dreyfus Corporation may terminate this expense limitation at any time. Advantage Funds, Inc. 497 false 0000914775 2013-10-31 2014-03-27 2014-03-27 2014-04-01 Fund Summary DGDAX DGDCX DGDIX DGDYX Principal Risks <p style="TEXT-ALIGN: left"> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">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.</font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Allocation risk.</font></i></font> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">The ability of the fund to achieve its investment goal depends, in part, on the ability of the fund's portfolio manager to allocate effectively the fund's assets among and within fixed-income asset classes and between global bonds and currencies. There can be no assurance that the actual allocations will be effective in achieving the fund's investment goal.</font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Market risk.</font></i></font> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">The market value of a security may decline due to general market conditions or because of factors that affect the particular company or the company's industry.</font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Market sector risk.</font></i></font> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">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.</font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Foreign investment risk.</font></i></font> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">To the extent the fund invests in foreign securities, the fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers. 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.</font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Emerging market risk.</font></i></font> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">The securities of issuers located in emerging market countries tend to be more volatile and less liquid than the securities of issuers located in countries with more mature economies, and emerging markets generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The securities of issuers located or doing substantial business in emerging markets are often subject to rapid and large changes in price.</font> </p> <br/><p style="text-align: left; text-indent: -8.65pt; margin-left: 8.65pt;"> <font><font style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol; color: #000000;">&#183;</font></font><font><font style="word-spacing: 10pt;"><font style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol; color: #000000;">&#160;</font></font></font><font><em><font style="font-size: 10pt; font-weight: normal; color: #000000;">Foreign currency risk.</font></em></font> <font style="font-style: normal; font-size: 10pt; font-weight: normal; color: #000000;">Investments in foreign currencies are subject to the risk that those currencies will decline in value relative to the U.S. dollar or, in the case of hedged positions, that the U.S. dollar will decline relative to the currency being hedged. Currency exchange rates may fluctuate significantly over short periods of time. Foreign currencies are <font style="font-style: normal; font-size: 10pt; font-weight: normal; color: #000000;">also subject to risks caused by inflation, interest rates, budget deficits and low savings rates, political factors and government intervention and controls.</font><br/> </font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Foreign government obligations and securities of supranational entities risk.</font></i></font> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">Investing in foreign government obligations and the sovereign debt of emerging market countries creates exposure to the direct or indirect consequences of political, social or economic changes in the countries that issue the securities or in which the issuers are located. Factors which may influence the ability or willingness of a foreign government or country to service debt include a country's cash flow situation, the availability of sufficient foreign exchange on the date a payment is due, the relative size of its debt service burden to the economy as a whole and its government's policy towards the International Monetary Fund, the International Bank for Reconstruction and Development and other international agencies. Other factors include the obligor's balance of payments, including export performance, its access to international credits and investments, fluctuations in interest rates and the extent of its foreign reserves. A governmental obligor may default on its obligations. These risks are heightened with respect to emerging market countries.</font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Credit risk</font></i></font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">. 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 the bond's price to fall, potentially lowering the fund's share price. The lower a bond's credit rating, the greater the chance &#8211; in the rating agency's opinion &#8211; that the bond issuer will default or fail to meet its payment obligations.</font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Interest rate risk.</font></i></font> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">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 fixed-income portfolio, the more the fund's share price is likely to react to interest rates. For example, the market price of a fixed-income security with a duration of three years would be expected to decline 3% if interest rates rose 1%. Conversely, the market price of the same security would be expected to increase 3% if interest rates fell 1%.</font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Liquidity risk.</font></i></font> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">When there is little or no active trading market for specific types of securities, it can become more difficult to sell the securities in a timely manner 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, particularly those of issuers located in emerging markets, tend to have greater exposure to liquidity risk than domestic securities.</font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Derivatives risk.</font></i></font> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">A small investment in derivatives could have a potentially large impact on the fund's performance. The use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets. Derivatives can be highly volatile, illiquid and difficult to value. Certain types of derivatives, including swap agreements, forward contracts and other over-the-counter transactions, involve greater risks than the underlying obligations because, in addition to general market risks, they are subject to illiquidity risk, counterparty risk, credit risk and pricing risk.</font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Portfolio turnover risk.</font></i></font> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">The fund may engage in short-term trading, which could produce higher transaction costs and taxable distributions, and lower the fund's after-tax performance.</font> </p> <br/><p style="TEXT-ALIGN: left; TEXT-INDENT: -8.65pt; MARGIN-LEFT: 8.65pt"> <font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#183;</font></font><font><font style="WORD-SPACING: 10pt"><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: symbol;">&#160;</font></font></font><font><i><font color="#000000" style="font-size: 10pt; font-weight: normal; font-family: ;">Non-diversification risk</font></i></font><font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">. 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.</font> </p> 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. The fund's share price fluctuates, sometimes dramatically, which means you could lose money. 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. Investment Objective <p style="TEXT-ALIGN: left"> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">The fund seeks total return (consisting of income and capital appreciation).</font> </p> Principal Investment Strategy <p style="TEXT-ALIGN: left"> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds and other instruments that provide investment exposure to global bond markets. The fund normally invests opportunistically in bonds and derivatives and other instruments that provide investment exposure to global bond and currency markets in seeking to produce absolute or real returns across economic cycles. The fund's investments will be focused globally among the developed and emerging capital markets of the world. The fund ordinarily invests in at least three countries, and, at times, may invest a substantial portion of its assets in a single country. The fund's portfolio managers employ a dynamic, unconstrained approach in allocating the fund's assets globally, principally among government bonds, emerging market sovereign debt, investment grade and high yield corporate instruments, and currencies.</font> </p> Performance <p style="text-align: left;"> <font style="font-style: normal; font-size: 10pt; font-weight: normal; color: #000000;">The following bar chart and table provide some indication of the risks of investing in the fund. The bar chart shows changes in the performance of the fund's Class A shares from year to year. 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 indication of how the fund will perform in the future. 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. More recent performance information may be available at</font> <font><font style="text-decoration: underline;"><font style="font-style: normal; font-size: 10pt; font-weight: normal; color: #000000;">www.dreyfus.com</font></font></font><font style="font-style: normal; font-size: 10pt; font-weight: normal; color: #000000;">.</font> </p> Year-by-Year Total Returns as of 12/31 each year (%) Class A 0.1001 0.0060 ~ http://dreyfus.com/20140327/role/ScheduleAnnualTotalReturnsBarChart20005 column dei_LegalEntityAxis compact ck0000914775_S000031204Member column rr_ProspectusShareClassAxis compact ck0000914775_C000096886Member row primary compact * ~ Best Quarter 0.0332 2012-09-30 Worst Quarter -0.0143 2013-06-30 <p style="text-align: left; margin-left: 4pt;"> <font><strong><font style="font-style: normal; font-size: 10pt;">Best Quarter</font></strong></font><font style="font-style: normal; font-size: 10pt; font-weight: normal;"><br/> Q3, 2012: 3.32%</font> </p> <br/><p style="text-align: left; margin-left: 4pt;"> <font><strong><font style="font-style: normal; font-size: 10pt;">Worst Quarter</font></strong></font><font style="font-style: normal; font-size: 10pt; font-weight: normal;"><br/> Q2, 2013: -1.43%</font> </p> <p style="TEXT-ALIGN: left"> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">After-tax returns are calculated using the historical highest individual federal marginal income 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.</font> </p> <br/><p style="TEXT-ALIGN: left"> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">For the fund&#8217;s Class Y shares, periods prior to July 1, 2013 reflect the performance of the fund&#8217;s Class A shares adjusted to reflect any applicable sales charges. Such performance figures have not been adjusted to reflect applicable class fees and expenses.</font> </p> -0.0392 0.0250 -0.0505 0.0099 -0.0219 0.0124 -0.0116 0.0343 0.0083 0.0445 0.0069 0.0425 0.0003 0.0004 2011-03-25 2011-03-25 2011-03-31 2013-07-01 2011-03-25 ~ http://dreyfus.com/20140327/role/ScheduleAverageAnnualReturnsTransposed20006 column dei_LegalEntityAxis compact ck0000914775_S000031204Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ 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. www.dreyfus.com reflects no deduction for fees, expenses or 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 12/31/13) The fund's past performance (before and after taxes) is not necessarily an indication of how the fund will perform in the future. The following bar chart and table provide some indication of the risks of investing in the fund. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Example <p style="TEXT-ALIGN: left"> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">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 limitation by The Dreyfus Corporation. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> </p> 543 984 1451 2740 273 780 1414 3120 72 461 876 2035 72 489 932 2164 543 984 1451 2740 173 780 1414 3120 72 461 876 2035 72 489 932 2164 ~ http://dreyfus.com/20140327/role/ScheduleExpenseExampleTransposed20003 column dei_LegalEntityAxis compact ck0000914775_S000031204Member row primary compact * ~ ~ http://dreyfus.com/20140327/role/ScheduleExpenseExampleNoRedemptionTransposed20004 column dei_LegalEntityAxis compact ck0000914775_S000031204Member row primary compact * ~ You would pay the following expenses if you did not redeem your shares: Portfolio Turnover <p style="TEXT-ALIGN: left"> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">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 138.46% of the average value of its portfolio.</font> </p> 1.3846 Fees and Expenses <p style="TEXT-ALIGN: left"> <font color="#000000" style="font-style: normal; font-size: 10pt; font-weight: normal; font-family: ;">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 beginning on page 12 of this prospectus and in the How to Buy Shares section and the Additional Information About How to Buy Shares section beginning on page II-1 and page III-1, respectively, of the fund's Statement of Additional Information.</font> </p> 0.0450 0.0000 0.0000 0.0000 0.0000 0.0100 0.0000 0.0000 0.0045 0.0045 0.0045 0.0045 0.0000 0.0075 0.0000 0.0000 0.0171 0.0168 0.0136 0.0149 0.0216 0.0288 0.0181 0.0194 -0.0121 -0.0118 -0.0111 -0.0124 0.0095 0.0170 0.0070 0.0070 ~ http://dreyfus.com/20140327/role/ScheduleShareholderFees20001 column dei_LegalEntityAxis compact ck0000914775_S000031204Member row primary compact * ~ ~ http://dreyfus.com/20140327/role/ScheduleAnnualFundOperatingExpenses20002 column dei_LegalEntityAxis compact ck0000914775_S000031204Member row primary compact * ~ Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 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. 2015-03-01 Shareholder Fees (fees paid directly from your investment) 50000 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. 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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The fund seeks total return (consisting of income and capital appreciation).

Expense [Heading] rr_ExpenseHeading Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

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 beginning on page 12 of this prospectus and in the How to Buy Shares section and the Additional Information About How to Buy Shares section beginning on page II-1 and page III-1, respectively, of the fund's Statement of Additional Information.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2015-03-01
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

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 138.46% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 138.46%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts 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.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

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 limitation by The Dreyfus Corporation. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption You would pay the following expenses if you did not redeem your shares:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds and other instruments that provide investment exposure to global bond markets. The fund normally invests opportunistically in bonds and derivatives and other instruments that provide investment exposure to global bond and currency markets in seeking to produce absolute or real returns across economic cycles. The fund's investments will be focused globally among the developed and emerging capital markets of the world. The fund ordinarily invests in at least three countries, and, at times, may invest a substantial portion of its assets in a single country. The fund's portfolio managers employ a dynamic, unconstrained approach in allocating the fund's assets globally, principally among government bonds, emerging market sovereign debt, investment grade and high yield corporate instruments, and currencies.

Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

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.


· Allocation risk. The ability of the fund to achieve its investment goal depends, in part, on the ability of the fund's portfolio manager to allocate effectively the fund's assets among and within fixed-income asset classes and between global bonds and currencies. There can be no assurance that the actual allocations will be effective in achieving the fund's investment goal.


· Market risk. The market value of a security may decline due to general market conditions or because of factors that affect the particular company or the company's industry.


· 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.


· Foreign investment risk. To the extent the fund invests in foreign securities, the fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers. 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.


· Emerging market risk. The securities of issuers located in emerging market countries tend to be more volatile and less liquid than the securities of issuers located in countries with more mature economies, and emerging markets generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The securities of issuers located or doing substantial business in emerging markets are often subject to rapid and large changes in price.


· Foreign currency risk. Investments in foreign currencies are subject to the risk that those currencies will decline in value relative to the U.S. dollar or, in the case of hedged positions, that the U.S. dollar will decline relative to the currency being hedged. Currency exchange rates may fluctuate significantly over short periods of time. Foreign currencies are also subject to risks caused by inflation, interest rates, budget deficits and low savings rates, political factors and government intervention and controls.


· Foreign government obligations and securities of supranational entities risk. Investing in foreign government obligations and the sovereign debt of emerging market countries creates exposure to the direct or indirect consequences of political, social or economic changes in the countries that issue the securities or in which the issuers are located. Factors which may influence the ability or willingness of a foreign government or country to service debt include a country's cash flow situation, the availability of sufficient foreign exchange on the date a payment is due, the relative size of its debt service burden to the economy as a whole and its government's policy towards the International Monetary Fund, the International Bank for Reconstruction and Development and other international agencies. Other factors include the obligor's balance of payments, including export performance, its access to international credits and investments, fluctuations in interest rates and the extent of its foreign reserves. A governmental obligor may default on its obligations. These risks are heightened with respect to emerging market countries.


· 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 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.


· 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 fixed-income portfolio, the more the fund's share price is likely to react to interest rates. For example, the market price of a fixed-income security with a duration of three years would be expected to decline 3% if interest rates rose 1%. Conversely, the market price of the same security would be expected to increase 3% if interest rates fell 1%.


· 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 in a timely manner 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, particularly those of issuers located in emerging markets, tend to have greater exposure to liquidity risk than domestic securities.


· Derivatives risk. A small investment in derivatives could have a potentially large impact on the fund's performance. The use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets. Derivatives can be highly volatile, illiquid and difficult to value. Certain types of derivatives, including swap agreements, forward contracts and other over-the-counter transactions, involve greater risks than the underlying obligations because, in addition to general market risks, they are subject to illiquidity risk, counterparty risk, credit risk and pricing risk.


· Portfolio turnover risk. The fund may engage in short-term trading, which could produce higher transaction costs and taxable distributions, and lower the fund's after-tax performance.


· 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.

Risk Lose Money [Text] rr_RiskLoseMoney The fund's share price fluctuates, sometimes dramatically, which means you could lose money.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus 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.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution 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.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The following bar chart and table provide some indication of the risks of investing in the fund. The bar chart shows changes in the performance of the fund's Class A shares from year to year. 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 indication of how the fund will perform in the future. 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. More recent performance information may be available at www.dreyfus.com.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table provide some indication of the risks of investing in the fund.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.dreyfus.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The fund's past performance (before and after taxes) is not necessarily an indication of how the fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Year-by-Year Total Returns as of 12/31 each year (%) Class A
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads 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.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

Best Quarter
Q3, 2012: 3.32%


Worst Quarter
Q2, 2013: -1.43%

Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 3.32%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2013
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (1.43%)
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deduction for fees, expenses or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred 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 Table Narrative rr_PerformanceTableNarrativeTextBlock

After-tax returns are calculated using the historical highest individual federal marginal income 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.


For the fund’s Class Y shares, periods prior to July 1, 2013 reflect the performance of the fund’s Class A shares adjusted to reflect any applicable sales charges. Such performance figures have not been adjusted to reflect applicable class fees and expenses.

Caption rr_AverageAnnualReturnCaption Average Annual Total Returns (as of 12/31/13)
Citibank 30-Day Treasury Bill Index reflects no deduction for fees, expenses or taxes
 
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 0.03%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 0.04% [1]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2011
A
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum deferred sales charge (load) (as a percentage of lower of purchase or sale price) rr_MaximumDeferredSalesChargeOverOther none [2]
Management fees rr_ManagementFeesOverAssets 0.45% [3]
Distribution (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses (including shareholder services fees) rr_OtherExpensesOverAssets 1.71%
Total annual fund operating expenses rr_ExpensesOverAssets 2.16%
Fee waiver and/or expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.21%) [4]
Total annual fund operating expenses (after fee waiver and/or expense reimbursement) rr_NetExpensesOverAssets 0.95%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock 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.
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 543
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 984
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,451
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,740
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 543
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 984
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,451
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 2,740
Annual Return 2012 rr_AnnualReturn2012 10.01%
Annual Return 2013 rr_AnnualReturn2013 0.60%
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (3.92%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 2.50%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Mar. 25, 2011
A | After Taxes on Distributions
 
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (5.05%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 0.99%
A | After Taxes on Distributions and Sale of Fund Shares
 
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (2.19%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 1.24%
C
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of lower of purchase or sale price) rr_MaximumDeferredSalesChargeOverOther 1.00%
Management fees rr_ManagementFeesOverAssets 0.45% [3]
Distribution (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Other expenses (including shareholder services fees) rr_OtherExpensesOverAssets 1.68%
Total annual fund operating expenses rr_ExpensesOverAssets 2.88%
Fee waiver and/or expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.18%) [4]
Total annual fund operating expenses (after fee waiver and/or expense reimbursement) rr_NetExpensesOverAssets 1.70%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 273
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 780
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,414
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 3,120
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 173
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 780
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,414
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 3,120
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (1.16%)
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 3.43%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Mar. 25, 2011
I
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of lower of purchase or sale price) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.45% [3]
Distribution (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses (including shareholder services fees) rr_OtherExpensesOverAssets 1.36%
Total annual fund operating expenses rr_ExpensesOverAssets 1.81%
Fee waiver and/or expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.11%) [4]
Total annual fund operating expenses (after fee waiver and/or expense reimbursement) rr_NetExpensesOverAssets 0.70%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 72
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 461
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 876
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,035
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 72
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 461
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 876
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 2,035
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 0.83%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 4.45%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Mar. 25, 2011
Class Y
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of lower of purchase or sale price) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.45% [3]
Distribution (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses (including shareholder services fees) rr_OtherExpensesOverAssets 1.49%
Total annual fund operating expenses rr_ExpensesOverAssets 1.94%
Fee waiver and/or expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.24%) [4]
Total annual fund operating expenses (after fee waiver and/or expense reimbursement) rr_NetExpensesOverAssets 0.70%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 72
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 489
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 932
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,164
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 72
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 489
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 932
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,164
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 0.69%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 4.25%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jul. 01, 2013
[1] For comparative purposes, the value of the index on March 31, 2011 is used as the beginning value on March 25, 2011.
[2] 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.
[3] Management fees and Total annual fund operating expenses have been restated to reflect a new Management Agreement with The Dreyfus Corporation effective April 1, 2014, which provides for a reduced management fee payable by the fund of .45%. All of the services provided under the prior Management Agreement remain unchanged.
[4] The fund's investment adviser, The Dreyfus Corporation, has contractually agreed, until March 1, 2015, to waive receipt of its fees and/or assume the direct 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 on borrowings and extraordinary expenses) exceed 0.70%. On or after March 1, 2015, The Dreyfus Corporation may terminate this expense limitation at any time.
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Dreyfus Global Dynamic Bond Fund
Fund Summary
Investment Objective

The fund seeks total return (consisting of income and 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 beginning on page 12 of this prospectus and in the How to Buy Shares section and the Additional Information About How to Buy Shares section beginning on page II-1 and page III-1, respectively, of the fund's Statement of Additional Information.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees Dreyfus Global Dynamic Bond Fund
A
C
I
Class Y
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] 1.00% none none
[1] 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.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Dreyfus Global Dynamic Bond Fund
A
C
I
Class Y
Management fees [1] 0.45% 0.45% 0.45% 0.45%
Distribution (12b-1) fees none 0.75% none none
Other expenses (including shareholder services fees) 1.71% 1.68% 1.36% 1.49%
Total annual fund operating expenses 2.16% 2.88% 1.81% 1.94%
Fee waiver and/or expense reimbursement [2] (1.21%) (1.18%) (1.11%) (1.24%)
Total annual fund operating expenses (after fee waiver and/or expense reimbursement) 0.95% 1.70% 0.70% 0.70%
[1] Management fees and Total annual fund operating expenses have been restated to reflect a new Management Agreement with The Dreyfus Corporation effective April 1, 2014, which provides for a reduced management fee payable by the fund of .45%. All of the services provided under the prior Management Agreement remain unchanged.
[2] The fund's investment adviser, The Dreyfus Corporation, has contractually agreed, until March 1, 2015, to waive receipt of its fees and/or assume the direct 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 on borrowings and extraordinary expenses) exceed 0.70%. On or after March 1, 2015, The Dreyfus Corporation may terminate this expense limitation at any time.
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 limitation by The Dreyfus Corporation. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example Dreyfus Global Dynamic Bond Fund (USD $)
1 Year
3 Years
5 Years
10 Years
A
543 984 1,451 2,740
C
273 780 1,414 3,120
I
72 461 876 2,035
Class Y
72 489 932 2,164
You would pay the following expenses if you did not redeem your shares:
Expense Example No Redemption Dreyfus Global Dynamic Bond Fund (USD $)
1 Year
3 Years
5 Years
10 Years
A
543 984 1,451 2,740
C
173 780 1,414 3,120
I
72 461 876 2,035
Class Y
72 489 932 2,164
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 138.46% 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 bonds and other instruments that provide investment exposure to global bond markets. The fund normally invests opportunistically in bonds and derivatives and other instruments that provide investment exposure to global bond and currency markets in seeking to produce absolute or real returns across economic cycles. The fund's investments will be focused globally among the developed and emerging capital markets of the world. The fund ordinarily invests in at least three countries, and, at times, may invest a substantial portion of its assets in a single country. The fund's portfolio managers employ a dynamic, unconstrained approach in allocating the fund's assets globally, principally among government bonds, emerging market sovereign debt, investment grade and high yield corporate instruments, and currencies.

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.


· Allocation risk. The ability of the fund to achieve its investment goal depends, in part, on the ability of the fund's portfolio manager to allocate effectively the fund's assets among and within fixed-income asset classes and between global bonds and currencies. There can be no assurance that the actual allocations will be effective in achieving the fund's investment goal.


· Market risk. The market value of a security may decline due to general market conditions or because of factors that affect the particular company or the company's industry.


· 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.


· Foreign investment risk. To the extent the fund invests in foreign securities, the fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers. 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.


· Emerging market risk. The securities of issuers located in emerging market countries tend to be more volatile and less liquid than the securities of issuers located in countries with more mature economies, and emerging markets generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The securities of issuers located or doing substantial business in emerging markets are often subject to rapid and large changes in price.


· Foreign currency risk. Investments in foreign currencies are subject to the risk that those currencies will decline in value relative to the U.S. dollar or, in the case of hedged positions, that the U.S. dollar will decline relative to the currency being hedged. Currency exchange rates may fluctuate significantly over short periods of time. Foreign currencies are also subject to risks caused by inflation, interest rates, budget deficits and low savings rates, political factors and government intervention and controls.


· Foreign government obligations and securities of supranational entities risk. Investing in foreign government obligations and the sovereign debt of emerging market countries creates exposure to the direct or indirect consequences of political, social or economic changes in the countries that issue the securities or in which the issuers are located. Factors which may influence the ability or willingness of a foreign government or country to service debt include a country's cash flow situation, the availability of sufficient foreign exchange on the date a payment is due, the relative size of its debt service burden to the economy as a whole and its government's policy towards the International Monetary Fund, the International Bank for Reconstruction and Development and other international agencies. Other factors include the obligor's balance of payments, including export performance, its access to international credits and investments, fluctuations in interest rates and the extent of its foreign reserves. A governmental obligor may default on its obligations. These risks are heightened with respect to emerging market countries.


· 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 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.


· 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 fixed-income portfolio, the more the fund's share price is likely to react to interest rates. For example, the market price of a fixed-income security with a duration of three years would be expected to decline 3% if interest rates rose 1%. Conversely, the market price of the same security would be expected to increase 3% if interest rates fell 1%.


· 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 in a timely manner 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, particularly those of issuers located in emerging markets, tend to have greater exposure to liquidity risk than domestic securities.


· Derivatives risk. A small investment in derivatives could have a potentially large impact on the fund's performance. The use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets. Derivatives can be highly volatile, illiquid and difficult to value. Certain types of derivatives, including swap agreements, forward contracts and other over-the-counter transactions, involve greater risks than the underlying obligations because, in addition to general market risks, they are subject to illiquidity risk, counterparty risk, credit risk and pricing risk.


· Portfolio turnover risk. The fund may engage in short-term trading, which could produce higher transaction costs and taxable distributions, and lower the fund's after-tax performance.


· 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 bar chart shows changes in the performance of the fund's Class A shares from year to year. 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 indication of how the fund will perform in the future. 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. More recent performance information may be available at www.dreyfus.com.

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

Best Quarter
Q3, 2012: 3.32%


Worst Quarter
Q2, 2013: -1.43%

Average Annual Total Returns (as of 12/31/13)

After-tax returns are calculated using the historical highest individual federal marginal income 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.


For the fund’s Class Y shares, periods prior to July 1, 2013 reflect the performance of the fund’s Class A shares adjusted to reflect any applicable sales charges. Such performance figures have not been adjusted to reflect applicable class fees and expenses.

Average Annual Returns Dreyfus Global Dynamic Bond Fund
Average Annual Returns, 1 Year
Average Annual Returns, Since Inception
Average Annual Returns, Inception Date
A
(3.92%) 2.50% Mar. 25, 2011
C
(1.16%) 3.43% Mar. 25, 2011
I
0.83% 4.45% Mar. 25, 2011
Class Y
0.69% 4.25% Jul. 01, 2013
After Taxes on Distributions A
(5.05%) 0.99%  
After Taxes on Distributions and Sale of Fund Shares A
(2.19%) 1.24%  
Citibank 30-Day Treasury Bill Index reflects no deduction for fees, expenses or taxes
0.03% 0.04% [1] Mar. 31, 2011
[1] For comparative purposes, the value of the index on March 31, 2011 is used as the beginning value on March 25, 2011.
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Document and Entity Information
0 Months Ended
Oct. 31, 2013
Risk/Return:  
Document Type 497
Document Period End Date Oct. 31, 2013
Registrant Name Advantage Funds, Inc.
Central Index Key 0000914775
Amendment Flag false
Document Creation Date Mar. 27, 2014
Document Effective Date Mar. 27, 2014
Prospectus Date Apr. 01, 2014
Dreyfus Global Dynamic Bond Fund | A
 
Risk/Return:  
Trading Symbol DGDAX
Dreyfus Global Dynamic Bond Fund | C
 
Risk/Return:  
Trading Symbol DGDCX
Dreyfus Global Dynamic Bond Fund | I
 
Risk/Return:  
Trading Symbol DGDIX
Dreyfus Global Dynamic Bond Fund | Class Y
 
Risk/Return:  
Trading Symbol DGDYX
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