2024-07-26 11:32:00 ET
Summary
- Since the MSCI ACWI Value Index underperformed the MSCI ACWI Growth Index by seven percentage points in the second quarter, value stocks have now trailed growth stocks for three quarters in a row.
- We trimmed several of the Fund’s developed market bank holdings over the past year as their valuations expanded.
- We continue to be optimistic about the long-term outlook of the Fund’s portfolio, which trades at 11.8 times forward earnings (versus 17.7 times for the MSCI ACWI) and remains diversified across sectors, geographies, and investment theses.
Performance [1]
Total Returns (%) Average Annual Total Returns
Since Inception | |||||||
3 Months | YTD | 1 Year | 3 Years | 5 Years | 10 Years | (5/1/2008) | |
Global Stock Fund - Class I | -0.38 | 5.30 | 14.14 | 5.99 | 11.00 | 7.84 | 7.05 |
Global Stock Fund - Class X | -0.32 | 5.43 | 14.31 | 6.09 | 11.06 | 7.87 | 7.07 |
MSCI ACWI Index | 2.87 | 11.30 | 19.38 | 5.43 | 10.76 | 8.43 | 6.78 |
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For further details see:
Dodge & Cox Global Stock Fund Q2 2024 Shareholder Letter