Davis Global Fund

    Overview

    The Fund

    Davis Global Fund is a portfolio of attractive businesses from around the world, selected using the time-tested Davis Investment Discipline. 


    The Fund has outperformed the index since its inception in 2004 and has lower than average expenses. 


    Davis is the largest shareholder of the Fund.

    Why Invest in the Davis Global Fund

    • A Portfolio of Well-Researched Businesses from Around the Globe: Companies with attractive long term growth prospects, from the U.S. & abroad, in both developed and developing markets
 
    • Signature Davis Investment Discipline: Utilizes a time-tested strategy that has successfully compounded wealth for more than 45 years, in both U.S. and non-U.S markets. Focuses on identifying attractive businesses with sustainable competitive advantages and experienced managements, selling at a discount to their true value.
 
    • Attractive Results: Outperformed the MSCI ACWI® Index over one, three, five and seven years and since inception (12/22/04).1 
    • A Flexible, Opportunistic Approach: We believe that a bottom-up stock selection process, and not mirroring the benchmark, are keys to long-term outperformance. 
 
    • Invested Side-by-Side with Shareholders: We are the largest shareholders of the Fund. Portfolio managers are compensated primarily in shares of the Fund based on long-term performance vs. the benchmark.3
    • Lower than Average Expense Ratio4
      Davis Global Fund A, 0.97%; Lipper category average, 1.54%

    Performance as of 6/30/14

    The Davis Global Fund has outperformed the MSCI ACWI® Index over one, three, five and seven years and since inception (12/22/04).1

    Total Returns
    as of June 30, 2014
    YTD* 1
    Year
    3
    Years
    5
    Years
    7
    Years
    Since
    12/22/04
    Davis Global Fund Class A shares
    without a sales charge
    8.21% 31.60% 12.72% 15.94% 3.32% 8.38%
    with a maximum 4.75% sales charge 3.07% 25.35% 10.90% 14.82% 2.61% 7.83%
    MSCI ACWI® Index 6.18% 22.95% 10.25% 14.28% 3.24% 6.76%

    *YTD is not annualized.

    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. The Fund is subject to a 2% short-term redemption fee for shares held for fewer than 30 days. The total annual operating expense ratio for Class A shares as of the most recent prospectus was 0.97%. The total annual operating expense ratio may vary in future years. Returns and expenses for other classes of shares will vary. Current performance may be higher or lower than the performance quoted. For most recent month-end performance, click here or call 800.279.0279.

    Portfolio Characteristics as of 6/30/14

    Top 10 Industries

    Global Fund MSCI ACWI® Index
    Information Technology 14.5% 12.6%
    Capital Goods 12.4% 7.6%
    Retailing 11.6% 2.7%
    Health Care 10.6% 10.6%
    Food, Beverage & Tobacco 9.3% 5.9%
    Transportation 7.6% 2.2%
    Diversified Financials 7.1% 3.8%
    Media 5.1% 2.7%
    Consumer Durables & Apparel 4.8% 1.7%
    Consumer Services 2.3% 1.5%

    Geographical Diversification

    United States 46.6%
    Europe 30.2%
    Asia 14.9%
    North America Ex U.S. 4.6%
    South America 3.7%

    Portfolio Composition

    Global Fund MSCI ACWI® Index
    Number of Holdings 61 2,447
    Median Market Cap ($bn) 16.8 9.1
    Weighted Average Market Cap ($bn) 58.1 87.0
    Forecast P/E Ratio 20.9 15.1

    Top 10 Holdings

    Compagnie Financiere Richemont SA Switzerland A luxury goods holding company whose brands include Cartier, Montblanc and Van Cleef & Arpels 4.5%
    Schneider Electric SA France Global specialist in energy management 4.4%
    Google Inc. United States Dominant global on-line search and advertising company 4.3%
    Wesco Aircraft Holdings, Inc United States One of the world’s largest distributors of aircraft parts 3.8%
    UnitedHealth Group Inc. United States The largest health care insurance company in the U.S. 3.4%
    Diageo PLC United Kingdom The world’s leading premium alcoholic beverage company whose brands span across spirits, wine and beer 3.2%
    Kuehne & Nagel International AG Switzerland A leader in logistics management, including sea freight, air freight, rail, road, etc. 3.2%
    Vipshop Holdings Ltd. - ADS China A leading online retailer of discounted closed-out merchandise serving mainland China 3.1%
    Heineken Holding NV Netherlands A leading brewer and seller of beer throughout Europe, the Americas, Africa, the Middle East, and Asia Pacific 3.0%
    Lindt & Spruengli AG - PC Switzerland Swiss-based manufacturer of premium quality chocolate 3.0%

    Click here for month-end holdings.
    Click here for quarter-end holdings.

    Literature

    Fact Sheet
    Fund Fact Sheet Download

    Applying the Davis Investment Discipline to companies within the United States and around the globe; Portfolio characteristics, top holdings, and performance.

    Portfolio Manager Commentary
    Annual Review 2014 Download View

    The Fund research team discusses the Portfolio, performance and how they apply the Davis Investment Discipline to uncover opportunities around the globe.

    Insights into the Fund
    Davis Global:
    Ways Investors Use the Fund
    Download How investors use Davis Global Fund to pursue specific portfolio objectives
    Discover the Davis Global Fund Download The signature Davis Investment Discipline is used to identify attractive businesses around the world

    This material must be accompanied or preceded by a current Davis Global Fund Prospectus. You should carefully consider the 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.


    1 Class A shares without a sales charge. Past performance is not a guarantee of future results.

    
3 As of December 31, 2013.

    
4 See Expense ratio/Turnover link below.


    Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756