This Terms of Use Agreement (“Terms”) states the terms and conditions under which you may use this website and all products, services, content, tools and information available through the website. Please read the Terms carefully. By accessing, browsing and/or using this website, you acknowledge that you have read, understood and agree to be legally bound by the Terms.

These Terms are in addition to any other agreements between you and Selected Funds, Davis Selected Advisers, L.P., and/or affiliates (“Davis”), including any customer or account agreements and any other agreements that govern your use of our or any third party’s products, services, content, tools and information available on this website.

Your use of this website is governed by the version of the Terms in effect on the date this website is accessed by you. We reserve the right to modify, add or remove any portion of the website or these Terms at any time, without notice. If you access or use the website after any modification to the Terms has been posted, you will be deemed to have agreed to the modified Terms. We reserve the right to monitor the use of this website.


Nothing contained on this website constitutes tax, legal, insurance or investment advice. Neither the information, nor any opinion, contained on this website constitutes a solicitation or offer by us to buy or sell any securities, futures, options or other financial instruments, nor shall any such security be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Decisions based on information contained on this website are your sole responsibility. In exchange for using this website, you agree to defend, indemnify and hold Davis and their respective officers, directors, employees, agents, and licensors harmless against any and all claims, losses, liability, costs and expenses (including but not limited to attorneys’ fees) resulting from or arising out of your use of this website or its contents, from your violation of these Terms or from any decisions that you make based on information contained in this website.


If considering opening a retirement account, such as an IRA, it is also your responsibility to read the IRA Disclosure Statement and Custodial Agreement.

The information and services provided on this website are provided “AS IS” and without warranties of any kind, either expressed or implied. To the fullest extent permissible pursuant to applicable law, we disclaim all warranties, including, but not limited to, any warranty of non-infringement of third-party rights and any implied warranties of merchantability and fitness for a particular purpose. We do not warrant, either expressly or impliedly, the accuracy or completeness of the information, text, graphics, links or other items contained on this website and do not warrant that the functions contained in this website will be uninterrupted or error-free, that defects will be corrected, or that the website will be free of viruses or other harmful components. We expressly disclaim all liability for errors and omissions in the materials on this website and for the use or interpretation by others of information contained on the website.

Reasonable precautions have been taken to ensure that the website content is complete and accurate. However, due to the nature of information delivery technology and the necessity of using multiple data sources, including third party content, we are unable to assure the accuracy of the data you access through this website. Website content is presented only as of the date published or indicated and may be superseded by subsequent market events or other reasons. We have no duty to update this website or any website content.

We shall not be liable to you or any third party for any damages arising from any actions or investment decisions taken by you based on the accuracy of the data presented through this site.

You agree that you are responsible for the means you use to access the website and understand that your hardware, software, the Internet, your Internet Service Provider, and other third parties involved in connecting you to our website may not perform as intended or desired. We also disclaim responsibility for damages third parties may cause to you through the use of this website, whether intentional or unintentional. For example, you understand that hackers could breach our security procedures, and that we will not be responsible for any related damages.

Trademarks, Copyrights and other Intellectual Property

The content contained on this website is owned or licensed by Davis and its third-party information providers and is protected by applicable copyrights, trademarks, service marks, and/or other intellectual property rights. Such content is solely for your personal, non-commercial use. Accordingly, you may not copy, distribute, modify, post, frame or deep link this website, including any text, graphics, video, audio, software code, user interface design or logos. You may download material displayed on this website for your personal use provided you also retain all copyright and other proprietary notices contained in the materials. You may not distribute, modify, transmit, reuse, repost, or use the content of this website for public or commercial purposes, including all text, images, audio, and video, without our written permission. Modification or use of the materials for any other purpose violates our intellectual property rights.

All trademarks, service marks, trade names, and logos displayed on this website are proprietary to Davis and/or their respective owners. Nothing contained on this website should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on this website without the written permission of Davis or such other third party that may own the trademark displayed on this website. Your use of the trademarks displayed on this website, except as provided herein, is strictly prohibited.

The use of the images displayed on this website by you, or anyone else authorized by you, is prohibited. Any unauthorized use of the images may violate copyright laws, trademark laws, and the laws of privacy and publicity, and communications, as well as other regulations and statutes. If you download any information from this website, you agree that you will not copy it or remove or obscure any copyright or other notices or legends contained in any such information.

Links to Other Websites

We may establish links between this website and one or more websites operated by third parties. We have no control over any such other websites, the contents therein or the products/services offered. The existence of any such links shall not constitute an endorsement of, or representation or warranty by us regarding such websites, the contents of the websites, the products or services of the websites or the operators of the websites. Your access to and use of such linked websites is governed by the terms of use and privacy policies of those sites, and shall be at your own risk. We disclaim responsibility for the privacy policies and customer information practices of third-party internet websites hyperlinked from our website.

Links to Davis from Other Websites

You shall not display hyperlinks on your website to any website owned or operated by Davis. If you desire to display on your website a hyperlink to our website, you must enter into a written agreement with us governing such display. Access to any Davis website does not authorize you to use any of our names, logos, trademarks or copyrighted material, and you agree not to do so without our express written consent.

Privacy Policy

Please review our Privacy Policy, which is a part of this Agreement and hereby incorporated by reference, to learn about our information collection practices and the measures we take to preserve the privacy and security of your information.


The information provided on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Davis to any registration requirement within such jurisdiction or country. This website and each investment product and service referred to on this website is intended for U.S. residents only. This website will not be considered a solicitation for or offering of any investment product or service to any person in any jurisdiction where such solicitation or offering would be illegal.

Limitation of Liability

Davis and their respective officers, directors, employees, and agents will not be liable to you or anyone else for any damages of any kind, including, but not limited to, direct, consequential, incidental, punitive, special or indirect damages (including but not limited to lost profits, trading losses or damages that results from use or loss of use of this website), even if Davis has been advised of the possibility of such damages or losses, including, without limitation, from the use or attempted use of this website or another linked website. 

If you live in a state that does not allow the limitation or exclusion of liability for incidental or consequential damages, or if you access the website solely through an arrangement with your employer or plan sponsor, some or all of these limitation and exclusions may not apply to you.

In no event shall Davis’s total liability to you for damages, losses, and causes of action, whether arising in contract, tort (including negligence), or otherwise, exceed the amount paid by you to Davis, if any, for accessing this website.

Prohibited Uses

Except as otherwise stated in these Terms or as expressly authorized by Davis in writing, you may not: (1) use this website in any manner that could damage or overburden any Davis server, or any network connected to any Davis server, as all servers have limited capacity and are used by many people; (2) use this website in any manner that would interfere with another party’s use of the website; (3) include any Davis trademark or executive’s name, or any variation, as a meta-tag, hidden textual element; (4) use any robot, spider, intelligent agent, other automatic device, or manual process to search, monitor or copy this website or the reports, data, information, content, software, products services, or other materials on, generated by or obtained from this website, whether through links or otherwise (collectively, “Materials”), without Davis’s permission, provided that generally available third-party web browsers may be used without such permission; or (5) use this website or the Materials in any manner that could create an impression of affiliation, sponsorship or endorsement by Davis.

Integration and Severability

If any provision of these Terms is deemed unlawful, void, or for any reason unenforceable, then that provision will be deemed severable from these Terms and will not affect the validity and enforceability of the remaining provisions.

This material must be accompanied or preceded by a current Selected Funds Prospectus. Carefully consider the Fund’s investment objectives, risks, fees, and expenses before investing or sending money. Read the prospectus carefully before you invest or send money. The prospectus contains this and other information and can be obtained by clicking here or calling 800.243.1575. Davis Distributors, LLC, is the distributor of the Selected Funds.

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