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| Growth of a $10,000 Investment | |||||||||||||||||||||||||||
| Build Wealth Over Time | |||||||||||||||||||||||||||
As Warren Buffett has said, "Investing is simply laying out money today to receive more money tomorrow." The chart below illustrates a hypothetical $10,000 investment in 1969 in the Davis New York Venture Fund, the S&P 500® Index and the Average Large Cap Fund.*
* Lipper will not calculate returns with inceptions in the middle of the month. Inception date used is 2/28/69. Returns for other classes of shares will vary. All returns include the reinvestment of dividends and capital gain distributions. See the endnotes for a description of the indices. The Average Large Cap Fund is represented by the equities in the Lipper Average Large Cap peer group. Past performance is not a guarantee of future results.
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* The definition of indices quoted in this material appear below. Investments cannot be made in any of these indices: The Average Large Cap Fund is represented by the equities in the Lipper Average Large Cap peer group.
The Lipper Average Large Cap peer group is a combined category including the Lipper Large Cap Growth, Core, and Value peer groups. Lipper Large Cap peer groups are funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) greater than 300% of the dollar-weighted median market capitalization of the middle 1,000 securities of the S&P SuperComposite 1500® Index. Funds are categorized as Growth, Core, or Value based on their portfolio characteristics; price to earnings ratio; price to book ratio; and three year sales per share growth value. Growth funds typically have above-average characteristics, Core funds typically have average characteristics, and Value funds typically have below-average characteristics, compared to the S&P 500® Index. |
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