The Dodge & Cox Global Stock Fund (DODWX) is a relatively new fund having been initiated in May of 2008. The fund currently operates with between a third and half a billion U.S. dollars of assets. The fund employs a value strategy in investing, and is not bound by international investment requirements if the fund managers do not deem the market befitting for such. According to the company itself, the firm’s investment strategy employs 4 key investment principles including long-term growth, price discipline, independent research and team process. (dodgeandcox.com) The DODWX fund manager is Lily S. Beischer, a legal professional with financial qualifications who was affiliated with Dodge & Cox prior to the DODWX fund inception.
FUND FACTS AND STATISTICS:
Locating and reviewing the Dodge & Cox Stock Fund’s statistics can be achieved by visiting the DODWX website, at which a profile and outline of the funds key variables are given. Among these numbers and facts are the following details that highlight the funds costs, investments, policies etc. Additional fund information and figures can also be reviewed at yahoo finance.
* High percentage equity investment
* Medium to large value firms
* Investment turnover of 10%
* No load fund
* Expense ratio of .87%
The DODWX fund diversifies across a number of industries including financials, industrial metals, health and energy among others, and also has a moderate risk level due to the value and size of the companies it invests in. However, since the fund invests primarily in equity, it is subject to the same market volatility experienced by other stock funds.
Assessing the competitive positioning through a look at the Dodge & Cox Global Stock Fund’s historical performance is a limited pursuit due to the age of the fund. However, given the fund entered the market during the U.S. recession, it has managed to avoid a negative performance with a notable return of around 2%.
There are many competing mutual funds that specialize in global investing making the Dodge & Cox Global Stock fund’s returns, strategy, management and leverage quite important in forecasting the fund’s future performance. In terms of existing competitor funds, DODWX seems to have a tough act to follow with some competing global stock funds with returns as high as 89.24% since inception, and another with Morningstar Global Fund manager(s) of the year at the helm. A few of the competing global and/or international funds are listed below.
* Artisan International Value (ARTKX)
* Northern Funds: Multi-Manager Emerging Markets Equity Fund (NMMEX)
* T. Rowe Price Global Stock Fund (PRGSX)
* Oppenheimer Global Opportunities A (OPGIX)
The Dodge & Cox Global Stock Fund is a new fund that’s performance is yet to be established and/or entrenched via years of statistics. So far, the fund has not proven disappointing in a tough national and international economic environment. The fund’s policy allows it the flexibility to choose not to globalize its positions if un-advantageous, has a lower than average expense ratio, and a positive 1 year return. The fund has fair capitalization and is managed by an established financial services firm founded in the 1930’s, however its new positioning in a competitive market does not give it a niche advantage.