EXHIBIT 23
To the Board of Trustees of
the Dreyfus/Laurel Funds Trust
and the Securities and Exchange Commission:
We have examined management's assertion about The Dreyfus/Laurel
Funds Trust (constituting the Dreyfus Premier Managed Income
Fund, Dreyfus Premier Limited Term High Income Fund, and Dreyfus
Premier Core Value Fund) (the "Funds") compliance with the
requirements of subsections (b) and (c) of Rule 17f-2 under
the Investment Company Act of 1940 as of August 31, 2000
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 August 31, 2000
and for the period from May 31, 2000 (the date of our last examination)
through August 31, 2000, with respect to security transactions,
without prior notice to management:
* 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 August 31, 2000;
* 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
August 31, 2000 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 specified requirements.
In our opinion, management's assertion that The Dreyfus/Laurel
Funds Trust were in compliance with the requirements of subsections
(b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as
of August 31, 2000 with respect to securities reflected in
the investment accounts of the Funds 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 LLP
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KPMG LLP
New York, New York
October 20, 2000
October 20, 2000
Management Statement Regarding Compliance with Certain
Provisions of the Investment Company Act of 1940
We, as members of management of The Dreyfus/Laurel Funds Trust
(constituting the Dreyfus Premier Managed Income Fund, Dreyfus
Premier Limited Term High Income Fund, and Dreyfus Premier Core Value Fund)
(the "Funds"), are responsible for complying with the
requirements of subsections (b) and (c) of Rule 17f-2, "Custody of
Investments by Registered Management Investment Companies," of the
Investment Company Act of 1940. We are also responsible for
establishing and maintaining effective internal controls over
compliance with those requirements. We have performed an evaluation
of the Funds' compliance with the requirements of subsections (b)
and (c) of Rule 17f-2 as of August 31, 2000 and for the period from
May 31, 2000 (date of your last examination) through August 31, 2000.
Based on this evaluation, we assert that the Funds were in compliance
with the requirements of subsections (b) and (c) of Rule 17f-2 of the
Investment Company Act of 1940 as of August 31, 2000 and for the period
from May 31, 2000 (date of your last examination) through
August 31, 2000, with respect to securities reflected in the
investment accounts of the Funds.
The Dreyfus/Laurel Funds Trust
/s/ Stephen E. Canter
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Stephen E. Canter
Chief Operating Officer
The Dreyfus Corporation
