This invention relates to a novel multi-functional fuel and lubricant additive that provides dispersancy properties as well as viscosity index improver credit and, improved fuel economy. The invention further relates to concentrates, and to fuel and lubricating oil compositions containing said additive or concentrates. Finally, the invention provides methods for improving fuel economy, improving dispersancy, and for preparing the hybridized, acylated olefin copolymer useful as an oil additive.