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SNY - Dodge & Cox Global Stock Fund Q1 2024 Shareholder Letter
Sanofi
2024-05-24 07:00:00 ET
Summary
Dodge & Cox Stock Fund seeks long-term growth of principal and income, with a secondary focus on achieving a reasonable current income.
Global equity markets achieved all-time highs during the first quarter of 2024, with the MSCI ACWI up 8.2%.
The Fund returned 5.7% in the first quarter, underperforming the MSCI ACWI by 2.5 percentage points.
The Fund trades at an attractive valuation of 12.0 times forward earnings, which is a discount to not only the MSCI ACWI at 17.8 times but also to the MSCI ACWI Value at 13.5 times.
