January 3, 1994
DREYFUS GLOBAL INVESTING
(A PREMIER FUND)
SUPPLEMENT TO PROSPECTUS DATED JANUARY 15, 1993
AS REVISED MAY 10, 1993
Effective October 4, 1993, the Fund began operating under the name
"Premier Global Investing."
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The following information replaces the last sentence of the first
paragraph under "Description of the Fund __ Management Policies":
The Fund may invest without restriction in companies in, or
governments of, developing countries. Devoloping countries have economic
structures that are generally less diverse and mature, and political
systems that are less stable, than those of developed countries. The
markets of developing countries may be more volatile than the markets of
more mature economies; however, such markets may provide higher rates
of return to investors. See "Risk Factors __ Investing in Foreign
Securities."
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The following information supplements and should be read in conjunction
with the section in the Fund's Prospectus captioned "Description of the
Fund __ Investment Techniques."
OPTIONS ON SWAPS __ The Fund may purchase cash-settled options on
interest rate swaps, interest rate swaps denominated in foreign currency
and equity index swaps in pursuit of its investment objective. Interest
rate swaps involve the exchange by the Fund with another party of their
respective commitments to pay or receive interest (for example, an
exchange of floating-rate payments for fixed-rate payments) denominated
in U.S. dollars or foreign currency. Equity index swaps involve the
exchange by the Fund with another party of cash flows based upon the
performance of an index or a portion of an index of securities which
usually include dividends. A cash- settled option on a swap gives the
purchaser the right, but not the obligation, in return for the premium paid,
to receive an amount of cash equal to the value of the underlying swap as
of the exercise date. These options typically are purchased in privately
negotiated transactions from financial institutions, including securities
brokerage firms.
092/stkr010394
