AGREEMENT REGARDING DREYFUS JOINT INSURED BOND
AGREEMENT REGARDING
DREYFUS JOINT INSURED BOND
AGREEMENT among The Dreyfus Fund Incorporated and certain other investment companies as to which The Dreyfus Corporation or any affiliate (“Dreyfus”) now acts as Investment Adviser, Sub-Investment Adviser and/or Administrator (individually, a “Fund” and, collectively, the “Funds”) and which are registered under the Investment Company Act of 1940, as amended (the “Act”).
WITNESSETH:
WHEREAS, the Funds are covered as joint insureds under a Fidelity Bond or Bonds (the “Bond”) which complies with Rule 17g-1 promulgated by the Securities and Exchange Commission under the Act (“Rule 17g-1”); and
WHEREAS, the Funds have entered into this Agreement to meet the requirements of paragraph (f) of Rule 17g-1;
NOW THEREFORE IT IS HEREBY AGREED:
1. In the event that recovery is received under the Bond as a result of a loss sustained by two or more of the Funds, each Fund shall receive an equitable and proportionate share of said recovery, but said recovery shall at least equal the amount that each such Fund would have received had the Fund provided and maintained a single insured bond with the minimum coverage required by paragraph (d)(1) of Rule 17g-1.
2. The Funds acknowledge and agree that, upon approval by the Funds’ respective Boards of Directors/Trustees, the amount of the Bond or the carriers issuing the Bond may be changed from time to time, and that any such change shall not affect the rights and obligations of the Funds under this Agreement. 3. Each Fund shall be responsible for paying its pro-rata share, based on the ratio of its assets to the assets of all of the Funds, of the premium payable in respect of the Bond. The Funds acknowledge and agree that any new Fund added to the Bond or as a party to this Agreement will not be responsible for the foregoing amount incurred prior to the first Bond renewal following the addition of such Fund.
4. The Funds agree that any registered investment company for which Dreyfus in the future becomes the Investment Advisor, Sub-Investment Advisor and/or Administrator added as a joint insured under the Bond may become a party to this Agreement upon the execution of a copy of this Agreement by its duly authorized officer and shall thereafter be deemed a “Fund” hereunder.
5. This Agreement shall cease to apply to any Fund in respect of any loss that occurs after such Fund (i) ceases to be an investment company by order of the Securities and Exchange Commission pursuant to Section 8(f) of the Act, or (ii) ceases to be advised, sub-advised and/or administered by Dreyfus, and such Fund shall, at and after such time, cease to be a party to this Agreement for all purposes.
6. This Agreement shall be binding upon and shall inure to the benefit of any successor company of any of the undersigned, or any company into which any of the undersigned may be merged or with which it may be consolidated.
7. As to each Fund that is organized as a trust, this Agreement has been executed on behalf of the Fund by the undersigned officer of the Fund in her capacity as an officer of the Fund; the obligations of this Agreement shall only be binding upon the assets and property of the Fund and shall not be binding upon any Board member, officer or shareholder of the Fund individually.
IN WITNESS WHEREOF, the Funds listed on Schedule A have caused this Agreement to be executed by their respective officers, thereunto duly authorized as of the day and year written below.
/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Dated as of January 31, 2019
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Vice President and Assistant Secretary
SCHEDULE A
Advantage Funds, Inc.
Dreyfus Global Dynamic Bond Income Fund
Dreyfus Global Multi-Asset Income Fund
Dreyfus Global Real Return Fund
Dreyfus Opportunistic Midcap Value Fund
Dreyfus Opportunistic Small Cap Fund
Dreyfus Strategic Value Fund
Dreyfus Structured Midcap Fund
Dreyfus Technology Growth Fund
Dreyfus Total Emerging Markets Fund
Dynamic Total Return Fund
BNY Mellon Absolute Insight Funds, Inc.
BNY Mellon Absolute Insight Multi-Strategy Fund
BNY Mellon Insight Broad Opportunities Fund
BNY Mellon Insight Core Plus Fund
BNY Mellon Funds Trust
BNY Mellon Asset Allocation Fund
BNY Mellon Bond Fund
BNY Mellon Corporate Bond Fund
BNY Mellon Emerging Markets Fund
BNY Mellon Focused Equity Opportunities Fund
BNY Mellon Government Money Market Fund
BNY Mellon Income Stock Fund
BNY Mellon Intermediate Bond Fund
BNY Mellon International Appreciation Fund
BNY Mellon International Equity Income Fund
BNY Mellon International Fund
BNY Mellon Large Cap Market Opportunities Fund
BNY Mellon Large Cap Stock Fund
BNY Mellon Massachusetts Intermediate Municipal Bond Fund
BNY Mellon Mid Cap Multi-Strategy Fund
BNY Mellon Municipal Opportunities Fund
BNY Mellon National Intermediate Municipal Bond Fund
BNY Mellon National Municipal Money Market Fund
BNY Mellon National Short-Term Municipal Bond Fund
BNY Mellon New York Intermediate Tax-Exempt Bond Fund
BNY Mellon Pennsylvania Intermediate Municipal Bond Fund
BNY Mellon Short-Term U.S. Government Securities Fund
BNY Mellon Small Cap Multi-Strategy Fund
BNY Mellon Small/Mid Cap Multi Strategy Fund
BNY Mellon Tax-Sensitive Large Cap Multi-Strategy Fund
CitizensSelect Funds
Dreyfus Prime Money Market Fund
Dreyfus Institutional Preferred Treasury Securities Money Market Fund
Dreyfus Alcentra Global Credit Income 2024 Target Term Fund, Inc. (closed-end fund)
Dreyfus AMT-Free Municipal Cash Management Plus
Dreyfus AMT-Free New York Municipal Cash Management
Dreyfus Appreciation Fund, Inc.
Dreyfus BASIC Money Market Fund, Inc.
Dreyfus BNY Mellon Funds, Inc.
Dreyfus Alternative Diversifier Strategies Fund
Dreyfus Global Emerging Markets Fund
Dreyfus Yield Enhancement Strategy Fund
Dreyfus Bond Funds Inc.
Dreyfus Municipal Bond Fund
Dreyfus Cash Management
The Dreyfus Fund Incorporated
Dreyfus Government Cash Management Funds
Dreyfus Government Cash Management
Dreyfus Government Securities Cash Management
Dreyfus Growth and Income Fund, Inc.
Dreyfus High Yield Strategies Fund (closed-end fund)
Dreyfus Index Funds, Inc.
Dreyfus International Stock Index Fund
Dreyfus S&P 500 Index Fund
Dreyfus Smallcap Stock Index Fund
Dreyfus Institutional Liquidity Funds
Dreyfus Treasury and Agency Liquidity Money Market Fund
Dreyfus Institutional Preferred Money Market Funds
Dreyfus Institutional Preferred Money Market Fund
Dreyfus Institutional Preferred Government Plus Money Market Fund
Dreyfus Institutional Reserves Funds
Dreyfus Institutional Preferred Government Money Market Fund
Dreyfus Institutional Treasury Securities Cash Advantage Fund
Dreyfus Institutional Treasury and Agency Cash Advantage Fund
Dreyfus Intermediate Municipal Bond Fund, Inc.
Dreyfus International Funds, Inc.
Dreyfus Emerging Markets Fund
Dreyfus Investment Grade Funds, Inc.
Dreyfus Inflation Adjusted Securities Fund
Dreyfus Short Term Income Fund
Dreyfus Investment Funds
Dreyfus/▇▇▇▇▇▇ International Equity Fund
Dreyfus Diversified Emerging Markets Fund
Dreyfus/The Boston Company Small Cap Growth Fund
Dreyfus/The Boston Company Small Cap Value Fund
Dreyfus/The Boston Company Small/Mid Cap Growth Fund
Dreyfus/▇▇▇▇▇▇▇▇ Global Fixed Income Fund
Dreyfus Tax Sensitive Total Return Bond Fund
Dreyfus Investment Portfolios
Core Value Portfolio
MidCap Stock Portfolio
Small Cap Stock Index Portfolio
Technology Growth Portfolio
The Dreyfus/Laurel Funds, Inc.
Dreyfus Bond Market Index Fund
Dreyfus Disciplined Stock Fund
Dreyfus Floating Rate Income Fund
Dreyfus Institutional S&P 500 Stock Index Fund
Dreyfus Tax Managed Growth Fund
Dreyfus Unconstrained Bond Fund
General Treasury and Agency Money Market Fund
The Dreyfus/Laurel Funds Trust
Dreyfus Equity Income Fund
Dreyfus Global Equity Income Fund
Dreyfus High Yield Fund
Dreyfus International Bond Fund
Dreyfus Liquid Assets, Inc.
Dreyfus Manager Funds II
Dreyfus Balanced Opportunity Fund
Dreyfus Midcap Index Fund, Inc.
Dreyfus Municipal Bond Infrastructure Fund, Inc.
Dreyfus Municipal Bond Opportunity Fund
Dreyfus Municipal Funds, Inc.
Dreyfus AMT-Free Municipal Bond Fund
Dreyfus High Yield Municipal Bond Fund
Dreyfus Municipal Income, Inc.
Dreyfus New Jersey Municipal Bond Fund, Inc.
Dreyfus New York AMT-Free Municipal Bond Fund
Dreyfus New York Tax Exempt Bond Fund, Inc.
Dreyfus Opportunity Funds
Dreyus Japan Womenomics Fund
Dreyfus Natural Resources Fund
Dreyfus Strategic Beta Emerging Markets Equity Fund
Dreyfus Premier California AMT-Free Municipal Bond Fund, Inc.
Dreyfus California AMT-Free Municipal Bond Fund
Dreyfus Premier GNMA Fund, Inc.
Dreyfus U.S. Mortgage Fund
Dreyfus Premier Investment Funds, Inc.
Dreyfus Diversified International Fund
Dreyfus Global Real Estate Securities Fund
Dreyfus Large Cap Growth Fund
Dreyfus Large Cap Equity Fund
Dreyfus Premier Short‑Intermediate Municipal Bond Fund
Dreyfus Short‑Intermediate Municipal Bond Fund
Dreyfus Premier Worldwide Growth Fund, Inc.
Dreyfus Worldwide Growth Fund
Dreyfus Research Growth Fund, Inc.
Dreyfus State Municipal Bond Funds
Dreyfus Connecticut Fund
Dreyfus Massachusetts Fund
Dreyfus Pennsylvania Fund
Dreyfus Stock Funds
Dreyfus International Equity Fund
Dreyfus International Small Cap Fund
Dreyfus Stock Index Fund, Inc.
Dreyfus Strategic Municipal Bond Fund, Inc.
Dreyfus Strategic Municipals, Inc.
The Dreyfus Sustainable U.S. Equity Fund, Inc.
The Dreyfus Sustainable U.S. Equity Portfolio, Inc.
Dreyfus Tax Exempt Cash Management Funds
Dreyfus AMT-Free Tax Exempt Cash Management
Dreyfus Treasury & Agency Cash Management
Dreyfus Treasury Securities Cash Management
Dreyfus Ultra Short Income Fund
Dreyfus Variable Investment Fund
Appreciation Portfolio
Opportunistic Small Cap Portfolio
Government Money Market Portfolio
Growth and Income Portfolio
International Equity Portfolio
International Value Portfolio
Quality Bond Portfolio
General California Municipal Money Market Fund
General Government Securities Money Market Funds, Inc.
General Government Securities Money Market Fund
General Treasury Securities Money Market Fund
General Money Market Fund, Inc.
General Municipal Money Market Funds, Inc.
General Municipal Money Market Fund
General New Jersey Municipal Money Market Fund, Inc.
General New York AMT-Free Municipal Money Market Fund
Strategic Funds, Inc.
Dreyfus Active MidCap Fund
Dreyfus Select Managers Small Cap Growth Fund
Dreyfus Select Managers Small Cap Value Fund
Dreyfus U.S. Equity Fund
Global Stock Fund
International Stock Fund