Davis Funds Attributes
Our firm's consistent application of the patient, rigorous, research-intensive Davis Investment Discipline, combined with our strong belief in the principles of shareholder stewardship, has resulted in a number of distinctive attributes among the Davis Funds:
- Attractive long-term investment results vs. peers
- Low expenses vs. peers
- Low turnover vs. peers
- High Morningstar Stewardship Grades
- Significant co-investment alongside shareholders
| Davis Fund | Inception Date | Portfolio Managers | Results Since Inception vs. Average Fund in Category1 | Expense Ratio vs. Average Fund in Category (Net)2 | Turnover vs. Average Fund in Category3 | Overall Morningstar Stewardship Grades4 | Alignment: Compensation Tied to Performance Plus Co-investment |
|---|---|---|---|---|---|---|---|
|
Davis New York Venture (NYVTX) |
2/17/69 | C. Davis and K. Feinberg | 11.70% vs. 9.32% | 0.90% vs. 1.16% | 11% vs. 72% | A | Yes |
|
Davis International (DILAX) |
12/29/06 | Team managed | -0.56% vs. 0.23% | 1.30%4 vs. 1.45% | 8% vs. 68% | N/A | Yes |
|
Davis Global (DGFAX) |
12/22/04 | Team managed | 5.84% vs. 4.53% | 1.05%5 vs. 1.62% | 43% vs. 99% | A | Yes |
|
Davis Financial (RPFGX) |
5/1/91 | K. Feinberg | 11.61% vs. 10.55% | 0.91% vs. 1.42% | 10% vs. 153% | A | Yes |
|
Davis Opportunity (RPEAX) |
12/1/946 | Team managed | 10.04% vs. 8.95% | 1.02% vs. 1.33% | 19% vs. 65% | A | Yes |
|
Davis Real Estate (RPFRX) |
1/3/94 | A. Davis and C. Spears | 10.07% vs. 10.21% | 1.08% vs. 1.32% | 50% vs. 71% | A | Yes |
|
Davis Appreciation and Income (RPFCX) |
5/1/92 | A. Davis and K. Sabol | 8.37% vs. 7.76% | 0.93% vs. 1.37% | 11% vs. 65% | A | Yes |
| Average Annual Total Returns as of March 31, 2013, Class A with a 4.75% maximum sales charge |
1 Year |
5 Years |
10 Years |
Since Inception |
Expense Ratio (Gross) |
|---|---|---|---|---|---|
| Davis New York Venture Fund | 6.89% | −2.12% | 7.83% | 11.58% | 0.90% |
| Davis International Fund | 2.28 | −3.10 | — | −1.33 | 1.37 |
| Davis Global Fund | 5.19 | −0.20 | — | 5.22 | 1.05 |
| Davis Financial Fund | 9.44 | 3.09 | 7.17 | 11.36 | 0.91 |
| Davis Opportunity Fund | 9.39 | 4.10 | 8.58 | 9.75 | 1.02 |
| Davis Real Estate Fund | 4.11 | 1.88 | 9.31 | 9.79 | 1.08 |
| Davis Appreciation and Income Fund | 0.75 | 3.29 | 6.64 | 8.12 | 0.93 |
The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends and capital gain distributions. Investment return and principal value will vary so that, when redeemed, an investor's shares may be worth more or less than their original cost. Return for other classes of shares will vary. The total annual operating expense ratios may vary in future years. Current performance may be higher or lower than the performance data quoted. For most recent month-end performance, click here or call 800.279.0279.
Peer/category data is compiled using Lipper. The Funds are categorized by Lipper as: Davis New York Venture Fund: Large Cap Core; Davis Opportunity Fund: Multi-Cap Core; Davis International Fund: International Multi-Cap Growth; Davis Global Fund: Global Multi-Cap Growth; Davis Financial Fund: Financial Services; Davis Real Estate Fund: Real Estate; and Davis Appreciation and Income Fund: Mixed-Asset Target Allocation Growth. 1Class A shares, without a maximum 4.75% sales charge. Figures will vary in future periods. Lipper category average returns are based on the Funds’ inception dates, except for Large Cap Core which is based on February 28, 1969. 2As of the most recent prospectus. 3As of the most recent audited financial statements. Over the last five years, the high and low turnover rate for each of the Funds was: Davis New York Venture Fund, 16% and 8%; Davis International Fund, 25% and 8%; Davis Global Fund, 43% and 19%; Davis Financial Fund, 12% and 2%; Davis Opportunity Fund, 53% and 19%; Davis Real Estate Fund, 68% and 43%; and Davis Appreciation and Income Fund, 28% and 11%. 4Morningstar Direct as of December 31, 2012. See endnotes for a description. 5The Advisor is contractually committed to waive fees and/or reimburse the Fund’s expenses to the extent necessary to cap total annual fund operating expenses to 1.30% for Class A shares until March 1, 2014. After that date, there is no assurance that expenses will be capped. 6Davis Advisors began daily management of the Davis Opportunity Fund on January 1, 1999. From May 1, 1984, until December 31, 1998, Davis Advisors had a subadvisor that handled daily management of the Fund.
This material must be accompanied or preceded by a current Prospectus. You should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. The prospectus contains this and other information and can be obtained by clicking here or calling 800.279.0279. Read the prospectus carefully before you invest or send money.
(38) Read here for objective/risk disclosure
(39) Read here for Morningstar disclosures
(40) Read here for Lipper disclosures
(41) Read here for additional disclosures
Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756.