Founder of Dreyfus Fund dies

Founder of Dreyfus Fund dies

NEW YORK — Mutual fund pioneer Jack Dreyfus, a master money manager whose marketing savvy helped forge Wall Street's image in Main Street's mind, died Friday.

Dreyfus, who matched his investment prowess with penchants for interests ranging from horse breeding to crusading to cure depression, died at New York Presbyterian Weill-Cornell Medical Center, a hospital spokeswoman said. Dreyfus was 95.

The cause of his death wasn't immediately known, but he had been ill for some time, said Arnold Friedman, treasurer of the Dreyfus Charitable Foundation, the financier's philanthropy.

As the creator of the Dreyfus Fund and its parent Dreyfus Corp., Dreyfus built one of the nation's biggest mutual investment funds and one of the first that actively courted the everyday individual.

The 58-year-old company, now part of the Bank of New York Mellon Corp., said it was deeply saddened by Dreyfus' death.

"This remarkable individual was a legend in the creation and marketing of mutual funds and a humanitarian with a heart of gold," the company said in a statement Friday. "We are eternally grateful to our founding father for his legacy of innovation and integrity."

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