Davis Global Fund
- Fact Sheet
- 2015 Dividend and Capital Gains Distribution Information
- Investing in Global Equities
- Manager Commentary
- Ways Investors Use the Fund
Fund Statistics (Class A)
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 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, 2.47%
Performance as of 3/31/16
The Davis Global Fund has outperformed the MSCI ACWI® Index since inception (12/22/04).1
as of March 31, 2016
Davis Global Fund Class A shares
without a sales charge
|with a maximum 4.75% sales charge||-6.14%||7.52%||5.31%||4.39%||6.29%|
|MSCI ACWI® Index||-4.34%||5.54%||5.22%||4.08%||5.30%|
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 3/31/16
Top 10 Industries
|Global Fund||MSCI ACWI® Index|
|Food, Beverage & Tobacco||4.1%||6.3%|
|North America Ex U.S.||7.6%|
|Global Fund||MSCI ACWI® Index|
|Number of Holdings||54||2,480|
|Median Market Cap ($bn)||12.9||8.3|
|Weighted Average Market Cap ($bn)||89.2||90.5|
|Forecast P/E Ratio||14.1||15.7|
Top 10 Holdings
|Amazon.com, Inc.||United States||An e-commerce giant within the retail industry||6.1%|
|Alphabet Inc.||United States||Dominant global on-line search and advertising company||4.9%|
|Berkshire Hathaway Inc., Class B||United States||A diversified holding company with interests in insurance, reinsurance, railroads, utilities, manufacturing, retailing, and a host of other business lines||4.6%|
|Wesco Aircraft Holdings, Inc||United States||One of the world’s largest distributors of aircraft parts||4.3%|
|Encana Corp.||Canada||Canadian-based energy exploration and production company with properties in Canada and the U.S.||4.0%|
|Quotient Technology Inc.||United States||A leader provider of digital coupons||3.4%|
|Didi Kuaidi Joint Co., Series A-17||China||The largest mobile platform taxi-calling app in China||3.3%|
|Naspers, Class N, ADR||South Africa||A media conglomerate that operates a leading pay television business in South and Sub-Saharan Africa and holds interests in a range of e-commerce businesses around the world||3.2%|
|United Technologies Corp.||United States||An industrial conglomerate whose businesses include Otis Elevator, Carrier and the aircraft engine company, Pratt & Whitney||3.0%|
|JPMorgan Chase & Co.||United States||A major diversified bank with offering private banking, investment banking, credit cards and loans, and asset management services||3.0%|
|Fund Fact Sheet||Download Share||
Applying the Davis Investment Discipline to companies within the United States and around the globe; Portfolio characteristics, top holdings, and performance.
|Portfolio Composition||Download Share||
Quarterly update of portfolio characteristics.
|Portfolio Manager Commentaries|
|Manager Commentary - Annual Review 2016||Download View Share||
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|
|Investing in Global Equities||Download Share||How we identify best-of-breed businesses around the globe and the factors which created our benchmark-beating performance.
Ways Investors Use the Fund
|Download Share||How investors use Davis Global Fund to pursue specific portfolio objectives|
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, 2015.
4 See Expense ratio/Turnover link below.
Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756