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- CAD Accumulating Class
- EUR Accumulating Class
- GBP Accumulating Class
- GBP Distributing Class
- GBP Distributing Class (H)
- USD Accumulating Class
- USD Distributing Class
Overview
Objectives
The Global Stock Fund seeks long-term growth of principal and income.
Investment approach
The Fund offers investors a highly selective, actively managed core global equity fund that invests in the U.S. and other developed countries as well as emerging markets, based on our analysis of fundamentals relative to current valuations. Generally, we:
- Target a diversified portfolio of equity securities, typically investing in medium-to-large, well-established companies that, in our opinion, appear to be temporarily undervalued by the stock market but have a favorable outlook for long-term growth.
- 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 the reputation, experience, and competence of its management—as weighed against valuation.
Share class performance
- Monthly
- Quarterly
Portfolio
Asset allocation
Ten largest holdings2, 3
Sector diversification3
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 26 years, include:
- Setting and reviewing global equity investment strategy, and continually assessing opportunities and risks to the portfolio.
- Evaluating and debating analyst recommendations and analyses to collaborate on buy, sell, and position-sizing decisions across individual holdings, sectors, and countries.
- Overseeing the strategy’s implementation and monitoring portfolio holdings, making changes when appropriate.
Documents
Investors should recognise that the market risks inherent in investing in securities cannot be avoided, and there is no assurance that the investment objectives of the Fund will be achieved. The value of Shares may fall as well as rise and investors may not receive back the amount invested. The Fund is subject to certain risks, such as investment risks, management risk, risks of investing in futures, options and forwards, risks relating to securities lending arrangements, umbrella structure of the Company and cross-liability risk, fair value pricing risks, taxation risk, and currency conversion and hedging risk. A more detailed description of the risk factors that apply to the Fund is set out in the Prospectus(opens in a new tab).
The MSCI ACWI (All Country World Index) Index is a broad-based, unmanaged equity market index aggregated from 50 developed and emerging market country indices. 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)
Portfolio Turnover is calculated as the lesser of the portfolio purchases or sales divided by the average portfolio value for the period.
Footnotes
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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 0.63% 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.
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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.
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3
Excludes derivatives.
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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.