Davis New York Venture Fund - Rolling 10 Year Returns: All Weather Performance

Rolling 10 Year Returns

All Weather Performance

When it comes to building long-term wealth, more important than short-term performance fluctuations is how consistent the investment results are over long periods of time and whether the research process behind the results has been successfully employed through various market environments.

The chart below illustrates how the Davis New York Venture Fund, through periods of inflation, deflation, rising interest rates, falling interest rates, bear markets, and bull markets has outperformed the S&P 500® Index for every rolling 10-year period since its inception in 1969.*

As of December 31, 2007	1 Year	3 Years	5 Years	7 Years	10 Years
Davis New York Venture Fund Class A, including a maximum 4.75% sales charge	-0.01%	8.41%	13.64%	4.82%	7.51%

	15 Years	20 Years	25 Years	30 Years	35 Years
	12.15%	14.09%	14.54%	16.19%	13.54%

The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends and capital gain distributions. Investment return and principal value will vary so that, when redeemed, an investor's shares may be worth more or less than their original cost. The maximum sales charge on a Class A share is 4.75%. The total annual operating expense ratio for Davis New York Venture Fund Class A shares as of the most recent prospectus was 0.85%. The total annual operating expense ratio may vary in future years. Returns and expenses for other classes of shares will vary. Current performance may be higher or lower than the performance data quoted. Current month end performance can be obtained by clicking here or by calling 1-800-279-0279.
* Returns calculated from 2/17/69 through 12/31/78. Returns for other share classes will vary. See the endnotes for a description of this chart and a definition of the S&P 500 Index.

You should carefully consider the Fund's investment objectives, risks, charges, and expenses before investing. Please read the prospectus carefully before you invest or send money.

Davis New York Venture Fund's investment objective is long-term growth of capital. There can be no assurance that the Fund will achieve its objective. Davis New York Venture Fund invests primarily in common stock of U.S. companies with market capitalizations of at least $10 billion. Some important risks of an investment in Davis New York Venture Fund are: market risk: the market value of shares of common stock can change rapidly and unpredictably; company risk: the market value of a common stock varies with the success or failure of the company issuing the stock; financial services risk: investing a significant portion of assets in the financial services sector may cause a fund to be more volatile. Securities within the financial services sector are more prone to regulatory action in the financial services industry, more sensitive to interest rate fluctuations, and are the target of increased competition; and foreign country risk: companies operating, incorporated, or principally traded in foreign countries may have more fluctuation as foreign economies may not be as strong or diversified, foreign political systems may not be as stable, and foreign financial reporting standards may not be as rigorous as they are in the United States. As of December 31, 2007, Davis New York Venture Fund had 14.6% of assets invested in foreign securities. See the prospectus for a complete listing of the principal risks.

Rolling 10 Year Performance Chart. Davis New York Venture Fund's average annual total Returns for Class A shares were compared against the returns earned by the S&P 500® Index as of December 31 of each year for all 10 year time periods from 1969 through 2007. The Fund's returns assume an investment in Class A shares on January 1 of each year with all dividends and capital gain distributions reinvested for a 10 year period. The figures are not adjusted for any sales charges that may be imposed. If sales charges were imposed, the reported figures would be lower. There can be no guarantee that the Fund will continue to deliver consistent investment performance. The performance presented includes periods of bear markets when performance was negative. Equity markets are volatile. An investor may experience a loss. Returns for other share classes will vary. The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations, and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index.

The Fund's shares are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including possible loss of the principal amount invested.