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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.
Overview
Objectives
Dodge & Cox Global Bond Fund seeks a high rate of total return consistent with long-term preservation of capital.
Investment approach
The Fund offers investors a highly selective, actively managed fund that complements core bond holdings by providing a diversified portfolio of carefully-researched investments over a long-term horizon across global credit, currency, and interest rate markets over a long-term horizon. Generally, we:
- Invest with a total return mindset consistent with capital preservation across a global investment universe that includes government and government-related obligations, mortgage- and asset-backed securities, corporate and municipal bonds, and other debt securities, from both developed and emerging markets.
- Build a diversified portfolio across several dimensions, including sector, country, currency and economic exposure.
- Select individual securities based on fundamental research and consider a variety of factors, including yield, credit quality, liquidity, covenants, call risk, duration, structure, and capital appreciation potential, as well as financially material environmental, social, and governance (ESG) issues.
Distributions
Dividends are distributed in March, June, September and December. Capital gains, if any, are distributed in December and March.
Performance
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 Global Fixed Income Investment Committee, whose members’ average tenure at Dodge & Cox is 20 years, are to:
- Set broad portfolio strategy including individual issuer targets, sector weightings, currency exposures, duration, and other portfolio characteristics.
- Diversify the portfolio prudently across issuers, sectors, geographies, and economic exposures.
- Carefully monitor and evaluate portfolio exposures and risks through regular scenario analyses, stress testing, and risk modelling, making changes when appropriate.
- Oversee the strategy’s implementation through close collaboration with our trading team.
Our Committee members are Dodge & Cox shareholders and invest in the Global Bond Fund.
