$2 Billion Invested Alongside Shareholders
Our exceptional co-investment ensures that we focus on generating attractive returns, managing risk and minimizing expenses.Share Transcript Return to Video Archive
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$2 Billion Invested Alongside Shareholders
At Davis Advisors we've been entrusted with our client's savings. And therefore we are really trustees, we're stewards, of their savings. And that mindset shapes everything we do. And I think maybe a fundamental tenet of stewardship is the idea of alignment, of putting yourself in the client's shoes.
And we know of no better way to do that than by investing our money side by side with our clients. In fact our family, our employees, our firm, even our philanthropies have over $2 billion invested alongside our clients.
So this shapes the way we think about returns. It shapes the way we think about expenses. And of course it shapes the way we think about risks. And as much as this seems like it should be common sense, a recent Morningstar study shows that it was rarer than I would have guessed.
In fact almost half of all mutual funds are managed by portfolio managers that don't have a single dollar invested alongside their clients. And in fact only about 10% are managed by managers that have more than $1 million invested alongside their clients.
Now when we study companies to invest in, we couldn't imagine investing in a stock run by a management team that didn't have any money invested alongside their shareholders. Well we think we should demonstrate the same commitment and the same alignment in managing the funds that have been entrusted to us.
This material is authorized for use by existing shareholders. A current Selected Funds prospectus must accompany or precede this material if it is distributed to prospective shareholders. You should carefully consider the Fund’s investment objectives, risks, fees, and expenses before investing. Read the prospectus carefully before you invest or send money.
Chris Davis mentioned that 10% of mutual funds are run by investors that have more than $1 million dollars invested in them. The source for this is Sara Max, "Fund Managers Who Invest Elsewhere," Barron's, July 12, 2014.
As of June 30, 2015, the Davis family, Davis Advisors, employees, and directors have more than $2 billion in the mutual funds Davis Advisors manages.
Davis Advisors is committed to communicating with our investment partners as candidly as possible because we believe our investors benefit from understanding our investment philosophy and approach. Our views and opinions include "forward-looking statements" which may or may not be accurate over the long term. Forward-looking statements can be identified by words like "believe," "expect," "anticipate," or similar expressions. You should not place undue reliance on forward-looking statements, which are current as of the date of this report. We disclaim any obligation to update or alter any forward-looking statements, whether as a result of new information, future events, or otherwise. While we believe we have a reasonable basis for our appraisals and we have confidence in our opinions, actual results may differ materially from those we anticipate.
Davis Advisors investment professionals make candid statements and observations regarding economic conditions and current and historical market conditions. However, there is no guarantee that these statements, opinions or forecasts will prove to be correct. All investments involve some degree of risk, and there can be no assurance that Davis Advisors' investment strategies will be successful. The value of equity investments will vary so that, when sold, an investment could be worth more or less than its original cost.
Broker-dealers and other financial intermediaries may charge Davis Advisors substantial fees for selling its products and providing continuing support to clients and shareholders. For example, broker-dealers and other financial intermediaries may charge: sales commissions; distribution and service fees; and record-keeping fees. In addition, payments or reimbursements may be requested for: marketing support concerning Davis Advisors' products; placement on a list of offered products; access to sales meetings, sales representatives and management representatives; and participation in conferences or seminars, sales or training programs for invited registered representatives and other employees, client and investor events, and other dealer-sponsored events. Financial advisors should not consider Davis Advisors' payment(s) to a financial intermediary as a basis for recommending Davis Advisors.
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Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756, 800-243-1575, selectedfunds.com