Undistracted by short-term product trends, advertising, or sales targets, we work as one global investment team. Our Investment Committees build conviction for our investments by pressure-testing our thinking collectively and making every decision together. For over 90 years, we’ve continuously improved our approach to help you meet your long-term investment goals. Today’s market environment calls for broader thinking about fixed income allocations.
Investment approach
As credit subsequently rebounded, the team scaled back on corporates, reducing exposure to 32% by September 2021. True to form, as corporate valuations grew more attractive over 2022′s rocky first half, the managers increased the stake to 40% by June 2022. The team finds banks (14%) particularly attractive, in part because of their high capital and liquidity levels and the sector’s strong regulatory backdrop. Treasuries (14%) provide ballast and make up the bulk of the remainder of the portfolio. Through close collaboration and debate, we bring our best ideas forward. We believe investors benefit from our team-based approach to managing investments.
- As credit subsequently rebounded, the team scaled back on corporates, reducing exposure to 32% by September 2021.
- For over 90 years, we’ve continuously improved our approach to help you meet your long-term investment goals.
- Today’s market environment calls for broader thinking about fixed income allocations.
- True to form, as corporate valuations grew more attractive over 2022′s rocky first half, the managers increased the stake to 40% by June 2022.
Portfolio
Our time-tested, active investment approach centers on individual security selection grounded in the relationship between fundamentals and valuation. Invests primarily in a diversified portfolio of U.S. equity securities. This top-rated bond fund has outperformed most others during the past decade. We’d like to share more about how we work and what drives our day-to-day business. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams.
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Before investing in any Dodge & Cox Fund, you should carefully consider the Fund’s investment objectives, risks, and charges and expenses. This and other important information is contained in a Fund’s prospectus and summary prospectus. Please read the prospectus and summary prospectus carefully before investing. Investments are not FDIC-insured, nor are they deposits of or guaranteed by any bank or any other entity. Prospective investors should consult with a tax or legal advisor before making any investment decision. The views and strategies described may not be suitable for all investors.
Foreign investing, especially in developing countries, has special risks such as currency and market volatility and political and social instability. Diversification and asset allocation do not ensure a profit or guarantee against loss. We’ve helped investors like you meet their investment goals since 1930 through our value-oriented, no-load mutual funds. We pour our energy and intellect into mastering the complexity of actively managing portfolios in the pursuit of excellent long-term investment returns.
We offer a select set of actively managed, low-cost, and no-load mutual funds. Persistent and patient investors, we carefully construct these portfolios with a long-term horizon and high-conviction investments. This strategy’s success owes to its relatively patient and at-times contrarian approach to investing. The eight managers, who average more than two decades of experience, start with an investment horizon of three to five years.
The author or authors do not own shares in any securities mentioned in this article. Uncover top mutual fund and exchange-traded fund picks from a source investors trust. Morningstar Investor’s mutual fund and ETF ratings, analysis, and insights are all backed by our transparent, meticulous methodology.
You can invest in our mutual funds directly or through a financial advisor, brokerage platform, or other financial intermediary that offers our Funds. We also offer tailored portfolios to high-net worth individuals and families. 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. Mutual fund performance changes over time and currently may be significantly lower than stated above.
The Fund’s performance for periods prior to the commencement of operations on May 1, 2014, is that of the Private Fund. The performance of the Private Fund has not been restated because the net total operating expense ratio of the Private Fund and the Fund are the same. Expense reimbursements have been in effect for the Fund since its inception. Without the expense reimbursements, returns for the Fund would have been lower.
Dodge & Cox Income’s DODIX skilled investment team, robust long-term investment approach, and low fees support a Morningstar Analyst Rating of Gold on both of its share classes. Dodge & Cox Funds are required to distribute their ordinary income and capital gains to qualify for special tax rules available for regulated investment companies. As a result, on ex-dividend date, a Fund’s share price, or NAV, drops by the amount of the distribution that will be paid for each share, not including adjustments for market fluctuations.
Yields have risen from ultra-low levels, but how you compose your fixed income exposure matters; not all sources of yield are created equal. Careful stewardship and flexibility remain critical amid economic uncertainty. The Dodge & Cox Global Bond Fund is a flexible and opportunistic strategy that can fit different needs in your asset allocation framework. Invests in a diversified portfolio of primarily high-quality bonds and other debt securities. Invests primarily in a diversified portfolio of emerging markets equity securities. The team’s value-driven approach has led to adjustments to its corporate credit stake over time.
We are an active, value-oriented manager focused on generating investment returns that exceed the market over the long term. And we invest our own personal assets in our Funds, so our success is aligned with yours. Learn why now is a particularly interesting time to invest in emerging markets (EM) and where to locate compelling opportunities in the broad EM universe. Whether you’re rolling over a 401(k) or saving for the long term, we offer different types of investment accounts and tax-advantaged IRA accounts to help you achieve your goals. Invests primarily in a diversified portfolio of equity securities and debt securities.
And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. Our Committee members are Dodge & Cox shareholders and invest in the Income Fund. Dodge & Cox Income Fund seeks a high and stable rate of current income, consistent with long-term preservation of capital. A secondary focus is to take advantage of opportunities to realize capital appreciation.
They tend to favor corporates, noting that the yield advantage these securities offer is an important contributor to total returns over time, and they run a fairly compact, mostly cash-bond portfolio. Dodge & Cox Global Bond Fund, L.L.C., a private fund managed and funded by Dodge & Cox (the “Private Fund”) was reorganized into the Fund and the Fund commenced operations on May 1, 2014. The Private Fund was organized as Delaware limited liability company and was treated as a disregarded entity under the Internal Revenue Code of 1986, as amended (the “Code”).