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
- Low expenses
- Low turnover
- 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 (Gross)2||Turnover vs. Average Fund in Category3||Alignment: Compensation Tied to Performance Plus Co-investment|
|2/17/69||C. Davis and D. Goei||11.66% vs. 9.57%||0.89% vs. 1.28%||25% vs. 72%||Yes|
|5/1/91||C. Davis||11.76% vs.10.95%||0.86% vs. 1.81%||5% vs. 92%||Yes|
|12/22/04||D. Goei||7.21% vs. 5.14%||0.97%4 vs. 1.93%||53% vs. 85%||Yes|
|12/29/06||D. Goei||0.84% vs. 0.80%||1.14%4 vs. 2.13%||47% vs. 64%||Yes|
|12/1/945||Team managed||10.67% vs. 8.81%||0.96% vs. 1.97%||39% vs. 78%||Yes|
and Income (RPFCX)
|5/1/92||C. Davis and P. Sackmann and C. King||7.91% vs. 7.85%||0.87% vs. 2.01%||32% vs. 73%||Yes|
|1/3/94||A. Davis and C. Spears||9.79% vs. 9.93%||0.94% vs. 2.16%||93% vs. 75%||Yes|
|Average Annual Total Returns as of December 31, 2016,
Class A with a 4.75% maximum sales charge
|Davis New York Venture Fund||6.92%||12.22%||4.68%||11.55%|
|Davis Financial Fund||9.57||14.37||4.06||11.55|
|Davis Global Fund||5.07||11.40||3.82||6.78|
|Davis International Fund||-4.00||5.37||0.35||0.35|
|Davis Opportunity Fund||9.79||14.51||5.48||10.43|
|Davis Appreciation and Income Fund||4.02||6.50||3.08||7.70|
|Davis Real Estate Fund||4.50||9.29||2.03||9.56|
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. Returns 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. The performance of Davis Opportunity Fund, Davis Global Fund, and Davis International Fund benefited from IPO purchases in 2013 and/ or 2014. After purchase, the IPOs rapidly increased in value. Davis Advisors purchases shares intending to benefit from long-term growth of the underlying company; the rapid appreciation of the IPOs were unusual occurrences.
Peer/category data is compiled using Lipper. The Funds are categorized by Lipper as: Davis New York Venture Fund: Large Cap Core; Davis Financial Fund: Financial Services; Davis Global Fund: Global Multi-Cap Growth; Davis International Fund: International Multi-Cap Growth; Davis Opportunity Fund: Multi-Cap Growth; Davis Appreciation and Income Fund: Mixed-Asset Target Allocation Growth; and Davis Real Estate Fund: Real Estate. 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, 25% and 7%; Davis Financial Fund, 32% and 0%; Davis Global Fund, 53% and 30%; Davis International Fund, 47% and 8%; Davis Opportunity Fund, 53% and 19%; Davis Appreciation and Income Fund, 32% and 11%; and Davis Real Estate Fund, 93% and 50%. 4The 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, 2018. After that date, there is no assurance that expenses will be capped. 5Davis 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.
Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756.