Davis Appreciation and Income Fund
Fund Statistics (Class A)
|Total Net Assets||$170 million|
|Total Fund Holdings||46|
The Fund is a portfolio of equities and bonds which seeks to provide total return through capital appreciation and income. The goal is to do so over long-term market cycles. The Fund has lower than average expenses. As the largest shareholder, we have a unique commitment to client stewardship.
Why Invest in Davis Appreciation and Income Fund
Stocks and Bonds in a Single Fund
Combination of durable, well-managed stocks (about two-thirds of the portfolio) and high quality bonds (about one-third).
Utilizing in-depth, independent research, we evaluate the quality and valuation of equities and fixed income securities to achieve the Fund’s goals.
Through up-market years since 1992, the Fund has delivered an average annual return of 14.1% vs. 17.9% for the S&P 500® Index. Through down market years since 1992, the Fund has delivered an average annual return of −11.8% vs.−16.9% for the S&P 500® Index.1
We are one of the Largest Shareholders
With more than $2 billion invested in funds and other accounts following the same investment strategy, we experience the same risks and reap the same rewards. clients.2 We have a unique commitment to stewardship, generating attractive long-term results, managing risks, and minimizing fees.
Chris Davis, 33 years with Davis Advisors
Darin Prozes, 18 years with Davis Advisors
Creston A. King III, CFA, 23 years with Davis Advisors
Expense Ratio (Cl–A) 0.98%; Lipper Category Average 1.01%
Expense Ratio (Cl–Y) 0.66%; Lipper Category Average 0.84%
Performance as of 9/30/22
1) Returns through up and down years:
Through up-market years since 1992, the Fund has delivered an average annual return of 14.1% vs. 17.9% for the S&P 500® Index.
Through down-market years since 1992, the Fund has delivered an average annual return of -11.8% vs. -16.9% for the S&P 500® Index.
By avoiding much of the downside risk during the market’s most difficult years, the Fund has delivered attractive long-term results for investors (Returns through 9/30/22).
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 total annual operating expense ratio for Class A shares as of the most recent prospectus was 0.98%. (The Adviser is contractually committed to waive fees and/or reimburse the Fund’s expenses to the extent necessary to cap total annual fund operating expenses of Class A shares at 1.00%. The expense cap expires May 1, 2023.). 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 9/30/22
|Cash & Equivalents||3%|
Top 10 Holdings
|Capital One Financial||5.3%|
Top Sectors (Equity Holdings Only)
|Fund Fact Sheet||Download Share||
Goals of the Fund, types of companies commonly in the Portfolio, top holdings, Portfolio characteristics and historical performance.
This material must be accompanied or preceded by a current Davis Appreciation and Income 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.
1Class A, not including a sales charge. Returns are from inception (5/1/92) through 9/30/22. Past performance is not a guarantee of future results.
2As of December 31, 2021. This includes Davis Advisors, the Davis family and Foundation, our employees, and Fund Directors.
3See Expense ratio/Turnover link below.
Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756