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New share class now available
Class X shares are now available to eligible defined contribution plans. The current shares held by shareholders will be renamed Class I shares, which are open to all investors.
Dodge & Cox Balanced Fund seeks regular income, conservation of principal, and an opportunity for long-term growth of principal and income.
The Fund offers investors a highly selective, actively managed mutual fund, diversified across equity and fixed income. Generally, we:
- Invest a portion of the Fund's portfolio in equity investments that, in our opinion, appear to be temporarily undervalued by the stock market but have a favorable outlook for long-term growth.
- Invest a portion of the Fund's portfolio in investment-grade debt securities including government and government-related obligations, mortgage- and asset-backed securities, corporate and municipal bonds, and other debt securities. The Fund may also invest in below investment-grade debt securities.
- Allocate between equity and debt investments based on our assessment of the potential risks and returns for each asset class over a three- to five-year horizon.
Dividends are distributed in March, June, September, and December. Capital gains, if any, are distributed in December and March.
Note: Portfolio data reflects Class I shares. Class X shares began operation on May 2, 2022.
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 Committee combines expertise across asset classes, risk management, and asset allocation. The primary responsibilities of the Committee, whose members’ average tenure at Dodge & Cox is 16 years, include:
- Determining asset allocation across stocks, fixed income securities, and cash.
- Constructing a diversified portfolio across industries and sectors.
- Holistically evaluating investment advocacies for individual holdings, setting issuer position sizing, and analyzing portfolio risk and return scenarios.
- Overseeing the strategy’s implementation and monitoring portfolio holdings, making changes when appropriate.
Our Committee members are Dodge & Cox shareholders and invest in the Balanced Fund.