Davis Real Estate Fund 2025 Annual Review

2025-01-21 06:00:00 ET

Summary

• In 2024, Davis Real Estate Fund returned 4.89% compared to 9.15% for the Wilshire U.S. Real Estate Securities Index.
• We regard 2024 as the year in which, among other developments, our thesis on office real estate was vindicated.
• Interest rate volatility will likely continue, favoring ownership of properties with shorter lease terms and lower leverage.
• Data centers remain in steep growth mode, with digital REITs and tower infrastructure companies both positioned to be beneficiaries of AI’s long tail.

Davis Real Estate Fund’s Class A shares provided a total return on net asset value of 4.89% for the year ended December 31, 2024. Over the same time period, the Wilshire U.S. Real Estate Securities Index returned 9.15%. During the most recent one-, five- and 10-year periods, a $10,000 investment in Davis Real Estate Fund would have returned $10,489, $11,158 and $16,142, respectively....

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