PRESIDENT'S LETTER
Dear Shareholder:
We are pleased to report that the total return on shares in the
Dreyfus Edison Electric Index Fund was 17.71% for the fiscal year ended
October 31, 1993.* This compares with a return of 18.84% for the index
of stocks of member companies of the Edison Electric Institute ("the EEI
Index").
The difference between the return of the EEI Index and that of the
Fund is accounted for mainly by the commissions and transaction costs
associated with equity trading, as well as other Fund expenses.
As you know, publicly owned utilities benefit from low interest rates,
and this was clearly reflected in the returns for the latest reporting
period. Throughout the year, interest rates continued in a downward
trend.
In addition, the performance of utility stocks was aided by the
public's search for higher yields. Disappointed with the returns from
bank deposits and other short-term instruments, many investors were
attracted by the higher income available from utility shares, and
assumed the risks of an equity investment.
Starting late in October, there was some increase in interest rates.
This was a reaction to indications that business conditions in the U.S.
are improving which led to an expectation of higher interest rates and,
whether justified or not, to a fear of renewed inflation.
Looking to the foreseeable future, we remain optimistic that the return
on electric utilities should be competitive with other sectors of the
economy.
Sincerely,
Joseph S. DiMartino
President
November 11, 1993
New York, N.Y.
*Total return represents the change during the period in a hypothetical
account with dividends reinvested.
DREYFUS EDISON ELECTRIC INDEX FUND, INC. OCTOBER 31, 1993
COMPARISON OF CHANGE IN VALUE OF $10,000 INVESTMENT IN DREYFUS EDISON
ELECTRIC INDEX FUND, INC.
AND THE STANDARD AND POOR'S 500 COMPOSITE STOCK PRICE INDEX
(See Exhibit A)
Past performance is not predictive of future performance.
The above illustration compares a $10,000 investment made in Dreyfus
Edison Electric Index Fund on 12/6/91 (Inception Date) to
a $10,000 investment made in the Standard and Poor's 500 Composite Stock
Price Index on that date. For comparative purposes the value of the
index on 11/30/91 is used as the beginning value on 12/6/91. All
dividends and capital gain distributions are reinvested.
The Fund's performance takes into account applicable fees and expenses.
The Standard and Poor's 500 Composite Stock Price Index is a widely-
accepted, unmanaged index of overall stock market performance which does
not take into account charges, fees or other expenses. Further
information relating to Fund performance, including expense
reimbursements, if applicable, is contained in the Condensed Financial
Information section of the Prospectus and elsewhere in this report.
*Source: Lipper Analytical Services, Inc.
ASSET ALLOCATION dagger
Common Stocks.......................... 99.8%
Cash Equivalents....................... 0.2
------
100.0%
TEN LARGEST HOLDINGS dagger
Pacific Gas & Electric................. 5.8%
Southern............................... 5.3
Texas Utilities........................ 3.7
SCE.................................... 3.5
Duke Power............................. 3.3
Public Service Enterprise Group........ 3.0
Consolidated Edison.................... 3.0
Dominion Resources..................... 3.0
FPL Group.............................. 2.7
American Electric Power................ 2.6
dagger As a percentage of Total Net Assets.
DREYFUS EDISON ELECTRIC INDEX FUND, INC.
STATEMENT OF INVESTMENTS OCTOBER 31, 1993
SHARES COMMON STOCKS--99.8% VALUE
25,575 Allegheny Power System.................. $ 1,409,822
80,750 American Electric Power................. 3,108,875
22,650 Atlantic Energy......................... 506,794
63,250 Baltimore Gas & Electric................ 1,652,406
5,950 Bangor Hydro Electric................... 118,256
6,000 Black Hills............................. 146,250
19,375 Boston Edison........................... 598,203
5,425 CILCORP................................. 216,322
14,750 CIPSCO.................................. 473,844
35,000 CMS Energy.............................. 923,125
70,300 Carolina Power & Light.................. 2,223,238
62,175 Centerior Energy........................ 932,625
82,400 Central & South West.................... 2,688,300
7,075 Central Hudson Gas & Electric........... 225,516
9,550 Central Louisiana Electric.............. 251,881
13,325 Central Maine Power..................... 238,184
5,100 Central Vermont Public Service.......... 117,938
37,875 Cincinnati Gas & Electric............... 1,084,172
93,350 Commonwealth Edison..................... 2,812,169
4,375 Commonwealth Energy System.............. 210,000
102,350 Consolidated Edison..................... 3,556,663
45,100 DPL..................................... 930,188
23,000 DQE..................................... 828,000
24,725 Delmarva Power & Light.................. 593,400
64,300 Detroit Edison.......................... 2,162,088
72,125 Dominion Resources...................... 3,480,031
89,650 Duke Power.............................. 3,922,188
8,050 Eastern Utilities Association........... 236,469
44,175(a) El Paso Electric........................ 127,003
5,550 Empire District Electric................ 132,506
76,650 Entergy................................. 2,989,350
82,075 FPL Group............................... 3,231,703
38,362 Florida Progress........................ 1,366,646
49,975 General Public Utilities................ 1,642,928
3,375 Green Mountain Power.................... 116,438
49,700(a) Gulf States Utilities................... 944,300
11,650 Hawaiian Electric Industries............ 441,244
56,850 Houston Industries...................... 2,750,119
11,900 IES Industries.......................... 380,800
16,375 IPALCO Enterprises...................... 603,828
15,650 Idaho Power............................. 500,800
32,900 Illinois Power.......................... 756,700
3,950 Interstate Power........................ 119,488
12,675 Iowa-Illinois Gas & Electric............ 321,628
16,400 KU Energy............................... 506,350
26,900 Kansas City Power & Light............... 645,600
14,050 LG & E Energy........................... 586,588
48,675 Long Island Lighting.................... 1,253,381
8,100 MDU Resources........................... 260,213
4,425 Madison Gas & Electric.................. 154,875
3,925 Maine Public Service.................... 116,278
23,575 Midwest Resources....................... 456,766
12,950 Minnesota Power & Light................. 424,113
22,525 Montana Power........................... 605,359
28,625 NIPSCO Industries....................... 973,250
17,525 Nevada Power............................ 440,316
28,375 New England Electric System............. 1,184,656
30,400 New York State Electric & Gas........... 999,400
61,925 Niagara Mohawk Power.................... 1,362,350
58,450 Northeast Utilities..................... 1,534,313
29,000 Northern States Power................... 1,286,875
3,850 Northwestern Public Service............. 114,056
66,625 Ohio Edison............................. 1,607,328
17,525 Oklahoma Gas & Electric................. 624,328
5,825 Orange/Rockland Utilities............... 245,378
4,675 Otter Tail Power........................ 157,781
24,700 PSI Resources........................... 657,638
189,475 Pacific Gas & Electric.................. 6,868,468
119,575 PacifiCorp.............................. 2,346,659
66,325 Pennsylvania Power & Light.............. 1,940,006
96,775 Philadelphia Electric................... 3,024,218
37,925 Pinnacle West Capital................... 872,275
20,375 Portland General........................ 440,609
49,875 Potomac Electric Power.................. 1,396,500
25,900 Public Service Co. of Colorado.......... 780,238
17,700(a) Public Service Co. of New Mexico........ 196,913
105,775 Public Service Enterprise Group......... 3,569,906
27,025 Puget Sound Power & Light............... 679,003
15,050 Rochester Gas & Electric................ 419,519
19,950 SCANA................................... 1,027,425
195,950 SCEcorp................................. 4,114,949
3,275 St. Joseph Light & Power................ 115,034
50,525 San Diego Gas & Electric................ 1,364,175
12,275 Sierra Pacific Resources................ 260,844
139,775 Southern................................ 6,272,402
6,733 Southern Indiana Gas & Electric......... 239,022
17,700 Southwestern Public Service............. 564,188
50,300 TECO Energy............................. 1,244,925
6,975 TNP Enterprises......................... 117,703
97,575 Texas Utilities......................... 4,390,874
68,800(a) Tucson Electric Power................... 292,400
13,650 UGI..................................... 324,188
5,438 UNITIL.................................. 119,636
44,575 Union Electric.......................... 1,861,006
5,975 United Illuminating..................... 261,406
6,250(a) Upper Peninsula Power................... 121,875
17,825 UtiliCorp United........................ 588,225
12,775 WPL Holdings............................ 447,125
11,025 Washington Water Power.................. 431,353
26,599 Western Resources....................... 980,838
45,362 Wisconsin Energy........................ 1,321,168
10,325 Wisconsin Public Service................ 365,247
------------
TOTAL COMMON STOCKS
(cost $111,043,120)................... $117,629,942
============
PRINCIPAL
AMOUNT SHORT-TERM INVESTMENTS--2.3%
- ---------
COMMERCIAL PAPER MASTER NOTES;
$2,689,000 General Electric Credit Corp.,
3.106%, 11/1/93
(cost $2,689,000)..................... $ 2,689,000
============
TOTAL INVESTMENTS
(cost $113,732,120)....................... 102.1% $120,318,942
====== ============
LIABILITIES, LESS CASH
AND RECEIVABLES........................... (2.1%) $ (2,483,712)
====== ============
NET ASSETS.................................. 100.0% $117,835,230
====== ============
NOTE TO STATEMENT OF INVESTMENTS;
(a) Non-income producing.
See notes to financial statements.
<TABLE>
<CAPTION>
DREYFUS EDISON ELECTRIC INDEX FUND, INC.
STATEMENT OF ASSETS AND LIABILITIES OCTOBER 31, 1993
ASSETS:
<S> <C> <C>
Investments in securities, at value
(cost $113,732,120)--see statement............................................. $120,318,942
Cash............................................................................. 455
Dividends and interest receivable................................................ 465,124
Prepaid expenses................................................................. 50,511
Due from The Dreyfus Corporation................................................. 61,145
------------
120,896,177
LIABILITIES:
Due to Wells Fargo Nikko Investment Advisors..................................... $ 48,217
Due to Wells Fargo Institutional Trust Company, N.A.............................. 38,307
Payable for investment securities purchased ..................................... 2,829,738
Accrued expenses................................................................. 144,685 3,060,947
---------- ------------
NET ASSETS......................................................................... $117,835,230
============
REPRESENTED BY:
Paid-in capital.................................................................. $109,644,505
Accumulated undistributed investment income-net.................................. 263,064
Accumulated undistributed net realized gain on investments....................... 1,340,839
Accumulated net unrealized appreciation on investments--Note 3................... 6,586,822
------------
NET ASSETS at value applicable to 8,020,838 shares outstanding
(200 million shares of $.001 par value Common Stock authorized).................. $117,835,230
============
NET ASSET VALUE, offering and redemption price per share
($117,835,230 divide 8,020,838 shares)........................................... $14.69
======
See notes to financial statements.
DREYFUS EDISON ELECTRIC INDEX FUND, INC.
STATEMENT OF OPERATIONS YEAR ENDED OCTOBER 31, 1993
INVESTMENT INCOME:
INCOME:
Cash dividends................................................................ $4,350,474
Interest...................................................................... 59,732
----------
TOTAL INCOME.............................................................. $ 4,410,206
EXPENSES:
Index management fee--Note 2(a)............................................... 79,485
Administration fee--Note 2(a)................................................. 119,228
Shareholder servicing costs--Note 2(b)........................................ 271,579
Custodian fees................................................................ 77,165
Registration fees............................................................. 38,216
Directors' fees and expenses--Note 2(c)....................................... 24,832
Auditing fees................................................................. 17,000
Prospectus and shareholders' reports.......................................... 13,744
Legal fees.................................................................... 10,000
Organization expenses......................................................... 16,476
Miscellaneous................................................................. 2,015
----------
669,740
Less--reduction in administration fee
due to undertakings--Note 2(a).............................................. 72,895
----------
TOTAL EXPENSES............................................................ 596,845
-----------
INVESTMENT INCOME--NET.................................................... 3,813,361
REALIZED AND UNREALIZED GAIN ON INVESTMENTS:
Net realized gain on investments--Note 3........................................ $1,346,006
Net unrealized appreciation on investments...................................... 5,953,464
----------
NET REALIZED AND UNREALIZED GAIN ON INVESTMENTS........................... 7,299,470
-----------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS.............................. $11,112,831
===========
See notes to financial statements.
</TABLE>
<TABLE>
<CAPTION>
DREYFUS EDISON ELECTRIC INDEX FUND, INC.
STATEMENT OF CHANGES IN NET ASSETS
YEAR ENDED OCTOBER 31,
----------------------------
1992* 1993
----------- ------------
OPERATIONS:
<S> <C> <C>
Investment income-net........................................................... $ 1,017,695 $ 3,813,361
Net realized gain on investments................................................ 32,959 1,346,006
Net unrealized appreciation on investments for the year......................... 633,358 5,953,464
----------- ------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS.......................... 1,684,012 11,112,831
----------- ------------
DIVIDENDS TO SHAREHOLDERS FROM:
Investment income-net........................................................... (903,788) (3,664,204)
Net realized gain on investments................................................ -- (38,126)
----------- ------------
TOTAL DIVIDENDS............................................................... (903,788) (3,702,330)
----------- ------------
CAPITAL STOCK TRANSACTIONS:
Net proceeds from shares sold................................................... 39,042,812 87,326,728
Dividends reinvested............................................................ 868,993 3,593,205
Cost of shares redeemed........................................................... (3,930,686) (17,356,547)
----------- ------------
INCREASE IN NET ASSETS FROM CAPITAL STOCK TRANSACTIONS.......................... 35,981,119 73,563,386
----------- ------------
TOTAL INCREASE IN NET ASSETS.................................................. 36,761,343 80,973,887
NET ASSETS:
Beginning of year................................................................. 100,000 36,861,343
----------- ------------
End of year (including undistributed investment income-net of $113,907 in 1992
and $263,064 in 1993)........................................................... $36,861,343 $117,835,230
=========== ============
SHARES SHARES
----------- ------------
CAPITAL SHARE TRANSACTIONS:
Shares sold....................................................................... 3,049,572 6,150,709
Shares issued for dividends reinvested............................................ 68,309 249,390
Shares redeemed................................................................... (300,827) (1,204,315)
----------- ------------
NET INCREASE IN SHARES OUTSTANDING.............................................. 2,817,054 5,195,784
=========== ============
- -------------
*From December 6, 1991 (commencement of operations) to October 31, 1992.
See notes to financial statements.
</TABLE>
<TABLE>
<CAPTION>
DREYFUS EDISON ELECTRIC INDEX FUND, INC.
FINANCIAL HIGHLIGHTS
Contained below is per share operating performance data for a share of
Common Stock outstanding, total investment return, ratios to average net
assets and other supplemental data for each year indicated. This
information has been derived from information provided in the Fund's
financial statements.
YEAR ENDED OCTOBER 31,
---------------------------
PER SHARE DATA: 1992(1) 1993
------ ------
<S> <C> <C>
Net asset value, beginning of year........................... $12.50 $13.05
------ ------
INVESTMENT OPERATIONS:
Investment income--net....................................... .60 .62
Net realized and unrealized gain on investments.............. .51 1.66
------ ------
TOTAL FROM INVESTMENT OPERATIONS........................... 1.11 2.28
------ ------
DISTRIBUTIONS:
Dividends from investment income-net......................... (.56) (.63)
Dividends from net realized gain on investments.............. -- (.01)
------ ------
TOTAL DISTRIBUTIONS........................................ (.56) (.64)
------ ------
Net asset value, end of year................................. $13.05 $14.69
====== ======
TOTAL INVESTMENT RETURN........................................ 9.11%(2) 17.71%
RATIOS/SUPPLEMENTAL DATA:
Ratio of expenses to average net assets...................... .24%(2) .75%
Ratio of net investment income to average net assets......... 5.31%(2) 4.80%
Decrease reflected in above expense ratios due to
undertakings by WFNIA and Dreyfus.......................... .95%(2) .09%
Portfolio Turnover Rate...................................... 2.76%(2) 14.14%
Net Assets, end of year (000's Omitted)...................... $36,861 $117,835
(1) From December 6, 1991 (commencement of operations) to
October 31, 1992.
(2) Not annualized.
See notes to financial statements.
</TABLE>
DREYFUS EDISON ELECTRIC INDEX FUND, INC.
NOTES TO FINANCIAL STATEMENTS
NOTE 1--SIGNIFICANT ACCOUNTING POLICIES:
Wells Fargo Nikko Investment Advisors ("WFNIA") serves as the Fund's
index manager. WFNIA is a registered investment adviser. Wells Fargo
Investment Advisors ("WFIA"), and The Nikko Securities Co., Ltd. and an
affiliate ("Nikko") each own 50% of WFNIA. Wells Fargo Institutional
Trust Company, N. A. ("WFITC"), an affiliate of WFNIA, is the custodian
of the Fund's investments. The Dreyfus Corporation ("Dreyfus") serves as
the Fund's administrator. Dreyfus Service Corporation ("Distributor"), a
wholly-owned subsidiary of Dreyfus, acts as the exclusive distributor of
the Fund's shares, which are sold without a sales charge.
(A) PORTFOLIO VALUATION: Investments in securities (including
financial futures) are valued at the last sales price on the securities
exchange on which such securities are primarily traded or at the last
sales price on the national securities market. Securities not listed on
an exchange or the national securities market, or securities for which
there were no transactions, are valued at the average of the most recent
bid and asked prices. Bid price is used when no asked price is
available. Short-term investments are carried at amortized cost, which
approximates value.
(B) SECURITIES TRANSACTIONS AND INVESTMENT INCOME: Securities
transactions are recorded on a trade date basis. Realized gain and loss
from securities transactions are recorded on the identified cost basis.
Dividend income is recognized on the ex-dividend date and interest
income, including, where applicable, amortization of discount on
investments, is recognized on the accrual basis.
(C) DIVIDENDS TO SHAREHOLDERS: Dividends are recorded on the ex-
dividend date. Dividends from investment income-net are declared and
paid on a quarterly basis. Dividends from net realized capital gain are
normally declared and paid annually, but the Fund may make distributions
on a more frequent basis to comply with the distribution requirements of
the Internal Revenue Code. To the extent that net realized capital gain
can be offset by capital loss carryovers, if any, it is the policy of
the Fund not to distribute such gain.
(D) FEDERAL INCOME TAXES: It is the policy of the Fund to continue to
qualify as a regulated investment company, if such qualification is in
the best interests of its shareholders, by complying with the provisions
available to certain investment companies, as defined in applicable
sections of the Internal Revenue Code, and to make distributions of
taxable income sufficient to relieve it from all, or substantially all,
Federal income taxes.
NOTE 2--MANAGEMENT FEE, ADMINISTRATION FEE AND OTHER TRANSACTIONS WITH
AFFILIATES:
(A) Fees paid by the Fund pursuant to the provisions of an Index
Management Agreement with WFNIA and an Administration Agreement with
Dreyfus are payable monthly. WFNIA and Dreyfus receive annual fees of
.10 of 1% and .15 of 1%, respectively, of the average daily value of the
Fund's net assets. The agreements further provide that if the aggregate
expenses of the Fund, exclusive of interest, taxes, brokerage and
extraordinary expenses, exceed the expense limitation of any state
having jurisdiction over the Fund, the Fund may deduct from the fees to
be paid to each of WFNIA and Dreyfus, or WFNIA and Dreyfus will each
bear, such excess expense in proportion to their respective fees. The
most stringent state expense limitation applicable to the Fund presently
requires reimbursement of expenses in any full fiscal year that such
expenses exceed 2-1/2% of the first $30 million, 2% of the next $70
million, and 1-1/2% of the excess over $100 million of the average value
of the Fund's net assets in accordance with California "blue sky"
regulations. However, Dreyfus had undertaken from November 1, 1992 to
February 15, 1993 to reduce the administration fee paid by the Fund, to
the extent that the Fund's aggregate expenses (excluding certain
expenses as described above) exceeded certain specified annual
percentages of the Fund's average daily net assets.
For the year ended October 31, 1993, pursuant to the undertakings,
Dreyfus reduced its administration fee by $72,895.
(B) Pursuant to the Fund's Shareholder Services Plan, effective August
11, 1993, the Fund reimburses the Distributor an amount not to exceed an
annual rate of .25 of 1% of the value of the Fund's average daily net
assets for servicing shareholder accounts. The services provided may
include personal services relating to shareholder accounts, such as
answering shareholder inquiries regarding the Fund and providing reports
and other information, and services related to the maintenance of
shareholder accounts. During the year ended October 31, 1993, the Fund
was charged an aggregate of $191,454 pursuant to the Shareholder
Services Plan.
(C) Certain officers and directors of the Fund are "affiliated
persons," as defined in the Act, of Dreyfus. Each director who is not an
"affiliated person" receives an annual fee of $2,500 and an attendance
fee of $500 per meeting.
NOTE 3--SECURITIES TRANSACTIONS:
The aggregate amount of purchases and sales of investment securities,
other than short-term securities, for the year ended October 31, 1993
amounted to $84,747,018 and $11,188,144, respectively.
At October 31, 1993, accumulated net unrealized appreciation on
investments was $6,586,822, consisting of $7,546,209 gross unrealized
appreciation and $959,387 gross unrealized depreciation.
At October 31, 1993, the cost of investments for Federal income tax
purposes was substantially the same as the cost for financial reporting
purposes (see the Statement of Investments).
DREYFUS EDISON ELECTRIC INDEX FUND, INC.
REPORT OF INDEPENDENT ACCOUNTANTS
TO THE SHAREHOLDERS AND BOARD OF DIRECTORS OF
DREYFUS EDISON ELECTRIC INDEX FUND, INC.:
We have audited the accompanying statement of assets and liabilities of
Dreyfus Edison Electric Index Fund, Inc. (the Fund), including the
statement of investments as of October 31, 1993, and the related
statement of operations for the year then ended, the statement of
changes in net assets and the financial highlights for the year then
ended and for the period from December 6, 1991 (commencement of
operations) to October 31, 1992. These financial statements and
financial highlights are the responsibility of the Fund's management.
Our responsibility is to express an opinion on these financial
statements and financial highlights based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements and
financial highlights are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. Our procedures included
confirmation of securities owned as of October 31, 1993, by
correspondence with the custodian and brokers. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for
our opinion.
In our opinion, the financial statements and financial highlights
referred to above present fairly, in all material respects, the
financial position of Dreyfus Edison Electric Index Fund, Inc. as of
October 31, 1993, the results of its operations for the year then ended,
the changes in its net assets and the financial highlights for the year
then ended and for the period from December 6, 1991 (commencement of
operations) to October 31, 1992, in conformity with generally accepted
accounting principles.
COOPERS & LYBRAND
New York, New York
December 10, 1993
DREYFUS EDISON ELECTRIC
INDEX FUND, INC.
144 Glenn Curtiss Boulevard
Uniondale, NY 11556
INDEX FUND MANAGER
Wells Fargo Nikko
Investment Advisors
45 Fremont Street
San Francisco, CA 94105
ADMINISTRATOR
The Dreyfus Corporation
200 Park Avenue
New York, NY 10166
DISTRIBUTOR
Dreyfus Service Corporation
200 Park Avenue
New York, NY 10166
CUSTODIAN
Wells Fargo Institutional
Trust Company, N.A.
45 Fremont Street
San Francisco, CA 94105
TRANSFER AGENT &
DIVIDEND DISBURSING AGENT
The Shareholder Services Group, Inc.
P.O. Box 9671
Providence, RI 02940
Further information is contained in the Prospectus,
which must precede or accompany this report.
Printed in U.S.A. 114AR9310
Edison Electric
Index Fund, Inc.
Annual Report
October 31, 1993
(Dreyfus Lion Logo)
COMPARISON OF CHANGE IN VALUE OF $10,000 INVESTMENT
IN DREYFUS EDISON ELECTRIC INDEX FUND, INC. AND THE
STANDARD & POOR'S 500 COMPOSITE STOCK PRICE INDEX
EXHIBIT A:
_______________________________________________
| | | STANDARD |
| | DREYFUS | & POOR'S 500 |
| PERIOD | EDISON ELECTRIC |COMPOSITE STOCK |
| | INDEX FUND | PRICE INDEX * |
|-----------|-----------------|----------------|
| 12/6/91 | 10,000 | 10,000 |
| 12/31/91 | 10,444 | 11,142 |
| 1/31/92 | 10,002 | 10,935 |
| 2/29/92 | 9,906 | 11,077 |
| 3/31/92 | 9,841 | 10,862 |
| 4/30/92 | 10,102 | 11,180 |
| 5/31/92 | 10,322 | 11,235 |
| 6/30/92 | 10,395 | 11,068 |
| 7/31/92 | 11,027 | 11,519 |
| 8/31/92 | 10,911 | 11,284 |
| 9/30/92 | 10,986 | 11,417 |
| 10/31/92 | 10,911 | 11,456 |
| 11/30/92 | 10,902 | 11,846 |
| 12/31/92 | 11,220 | 11,991 |
| 1/31/93 | 11,499 | 12,092 |
| 2/28/93 | 12,159 | 12,257 |
| 3/31/93 | 12,244 | 12,515 |
| 4/30/93 | 12,235 | 12,212 |
| 5/31/93 | 12,176 | 12,538 |
| 6/30/93 | 12,501 | 12,575 |
| 7/31/93 | 12,820 | 12,524 |
| 8/31/93 | 13,183 | 12,999 |
| 9/30/93 | 13,070 | 12,899 |
| 10/31/93 | 12,843 | 13,163 |
|----------------------------------------------|
|--------------------------------------------------------|
| DREYFUS EDISON ELECTRIC INDEX FUND |
|--------------------------------------------------------|
| AVERAGE ANNUAL TOTAL RETURNS ENDED ON 10/31/93 |
|-----------|--------------------------------------------|
| | SINCE INCEPTION |
| 1 YEAR | (12/6/91) |
|-----------|--------------------------------------------|
| 17.71%| 14.04% |
|--------------------------------------------------------|
