Redirection Confirmation

You'll be re-directed to the Financial Professional site.

Skip to main content

Dodge & Cox Worldwide Funds - Emerging Markets Stock Fund

  • EUR Accumulating Class
  • GBP Accumulating Class
  • GBP Distributing Class
  • USD Accumulating Class
  • Overview
  • Performance
  • Portfolio
  • Investment Committee
  • Documents

Overview

Objectives

The Emerging Markets Stock Fund seeks long-term growth of principal and income.

Investment approach

This Fund offers investors a highly selective, actively managed emerging market equity fund that invests in companies of any size, primarily in emerging and frontier markets, based on our analysis of companies’ fundamentals relative to their current valuations. Generally, we:

  • Target a diversified portfolio of equity securities issued by small-, mid-, and large-cap companies from emerging or frontier market countries that, in our opinion, appear to be temporarily undervalued by the stock market but have a favourable outlook for long-term growth. Emerging market issuers include those located in emerging market countries and those we determine to have significant economic exposure to emerging market countries.

  • Select individual securities based on our analyses of various factors—including a company’s financial strength, economic condition, competitive advantage, quality of the business franchise, financially material environmental, social, and governance (ESG) issues and sustainability risks, and the reputation, experience, and competence of its management—as weighed against valuation.
  • May use currency derivatives to hedge direct and/or indirect foreign currency exposure. The Fund may use equity derivatives, such as futures, options, and swaps, to create or hedge exposure to equity securities.

Please see the bottom of the page for definitions of key terms above.


Share Class Performance

Returns represent past performance and do not guarantee future results. Investment return and share price will fluctuate with market conditions, and investors may have a gain or loss when shares are sold. Fund performance changes over time and may be significantly lower than stated above. Performance is updated and published monthly. The Funds' total returns include dividends and interest income and reflect the deduction of expenses charged to the Funds. Index returns include dividends but, unlike Fund returns, do not reflect fees or expenses. Performance returns may increase or decrease as a result of currency fluctuations.
The Fund is actively managed and uses the benchmark index for performance comparison purposes only.


    Portfolio

      


    Meet the Fund’s Investment Committee

    We believe investors benefit from our team-based approach to managing investments. Through close collaboration and debate, we bring our best ideas forward. The primary responsibilities of the Committee, whose members’ average tenure at Dodge & Cox is 18 years, include:
     

    • Setting and reviewing emerging markets investment strategy, and continually assessing opportunities and risks to the portfolio.
    • Evaluating and debating analyst recommendations to make buy, sell, and position-sizing decisions across individual holdings, sectors, and countries.
    • Overseeing the strategy’s implementation, making changes when appropriate.

    David Hoeft

    Chief Investment Officer, Investment Committee Member, D&C Board Member

    31 years with Dodge & Cox

    Mario DiPrisco

    Investment Committee Member, Global Industry Analyst

    26 years with Dodge & Cox

    Sophie Chen

    Investment Committee Member, Global Industry Analyst

    12 years with Dodge & Cox

    Rameez Dossa

    Investment Committee Member, Global Industry Analyst

    11 years with Dodge & Cox

    Robert Turley

    Investment Committee Member, Portfolio Strategy Analyst

    11 years with Dodge & Cox

    Documents

    Need some help?

    Our experienced team is available to answer your questions or help you find what you are looking for.

    Disclosures

    The MSCI Emerging Markets Index captures large and mid-cap representation across 27 Emerging Markets (EM) countries. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI Information is provided on an ''as is'' basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved In or related to compiling, computing or creating any MSCI information (collectively, the ''MSCI Parties'') expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)

     

    Expense reimbursements have been in effect for the Fund since its inception. Without the expense reimbursements, returns for the Fund would have been lower.

     

    Data is stated in U.S. dollars, unless otherwise noted.

    Key Terms

    Portfolio Turnover is calculated as the lesser of the portfolio purchases or sales divided by the average portfolio value for the period.

    Footnotes
    • 1

      Expense Ratio. Dodge & Cox has voluntarily agreed to reimburse the Fund for all ordinary expenses to the extent necessary to limit aggregate annual ordinary expenses to 0.70% of the average daily net assets of each share class. Dodge & Cox may terminate or modify this agreement upon 30 days’ notice to shareholders.

      Historic yield reflects distributions declared over the past twelve months as a percentage of the current share price. Investors may be subject to tax on their distributions.

    • 2

      The Fund’s portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation to buy, sell, or hold any particular security and is not indicative of Dodge & Cox’s current or future trading activity.

    • 3

      Excludes derivatives.

    • 4

      The Fund may classify a company or issuer in a different category than the Index. The Fund usually classifies a company or issuer based on its country of risk, but may designate a different country in certain circumstances. A company or issuer located in a developed market country may still be considered an “emerging markets issuer” for other purposes if it has significant economic exposure to emerging markets.