Independent Accountants' Report
To the Board of Trustees of The Dreyfus/Laurel Funds Trust
and Securities and Exchange Commission:
We have examined management's assertion about Dreyfus Premier Managed Income
Fund, Dreyfus Premier Limited Term High Income Fund and Dreyfus Core Value
Fund (constituting The Dreyfus/Laurel Funds Trust) (the "Funds") compliance
with the requirements of subsections (b) and (c) of Rule 17f-2 under the
Investment Company Act of 1940 as of December 31, 1997 and for the period
from July 31, 1997 (the date of our last examination) through December 31,
1997, included in the accompanying Management Statement regarding Compliance
with Certain Provisions of the Investment Company Act of 1940. Management
is responsible for the Funds' compliance with those requirements. Our
responsibility is to express an opinion on management's assertion about the
Funds' compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly,
included examining, on a test basis, evidence about the Funds' compliance
with those requirements and performing such other procedures as we
considered necessary in the circumstances. Included among our procedures
were the following tests performed as of December 31, 1997 and for the
period from July 31, 1997 through December 31, 1997, with respect to
securities transactions:
Count and inspection of all securities located in the Mellon Trust -
Global Trust Services ("Mellon Trust") vault at 120 Broadway, New York, New
York as of October 31, 1997;
Review of Mellon Trust's systems of reconciliation and control
including their reconciliations with The Federal Reserve Bank of Boston,
Depository Trust Company, Participant Trust Company and other
depositories/intermediaries, as well as their reconciliation of these
holdings with customers' positions. Such review included analysis and
testing of a sample of reconciling items;
Agreement of pending trade activity for the Funds as of December 31, 1997
to their corresponding subsequent bank statements;
Review of the investment accounts and supporting records of the Funds,
including tests of security transactions since our last report, on a test
basis.
We believe that our examination provides a reasonable basis for our opinion.
Our examination does not provide a legal determination on the Funds'
compliance with the specified requirements.
In our opinion, management's assertion that The Dreyfus/Laurel Funds Trust
was in compliance with the above mentioned provisions of Rule 17f-2 of the
Investment Company Act of 1940 as of December 31, 1997 and for the period
from July 31, 1997 through December 31, 1997 is fairly stated, in all
material respects.
This report is intended solely for the information and use of management of
The Dreyfus/Laurel Funds Trust and the Securities and Exchange Commission
and should not be used for any other purpose.
/s/KPMG Peat Marwick LLP
February 3, 1998
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-17f-2
Certificate of Accounting or Securities and Similar
Investments in the Custody of
Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
1. Investment Company Act File Date examination
Number: completed:
811-5240 12/31/97
2. State Identification Number:
AL AK AZ AR CA CO
CT DE DC FL GA HI
ID IL IN IA KS KY
LA ME MD MA MI MN
MS MO MI NE NV NH
NJ NM NY NC ND OH
OK OR PA RI SC SD
TN TX UT VT VA WA
WV WI WY PUERTO
RICO
Other
Specify:
3. Exact name of investment company as specified in
registration statement:
The Dreyfus/Laurel Funds Trust
4. Address of principal executive office: (number, street, city, state,
zip code)
200 Park Avenue, 55th Floor, New York, NY 10166
INSTRUCTIONS
The Form must be completed by investment companies that have custody of
securities or similar investments
Investment Company
1. All items must be completed by the investment company.
2. Give this Form to the independent public accountant who, in compliance
with Rule 17f-2 under the Act and applicable state law, examine
securities and similar investments in the custody of the investment
company.
Accountant
3. Submit this Form to the Securities and Exchange Commission and
appropriate state securities administrators when filing the certificate
of accounting required by Rule 17f-2 under the Act and applicable state
law. File the original and one copy with the Securities and Exchange
Commission's principal office in Washington D.C., one copy with the
regional office for the region in which the investment company's
principal business operations are conducted, and one copy with the
appropriate state administrator(s), if applicable.
THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT
