Performance

Mutual Funds as of 04/30/1203/31/12

QuarterlyMonthly
Without Sales ChargeWith Sales Charge
  Share   Years (%) Since Inception
Fund Name Class YTD 1 3 5 10 15 20 25 30 40 Inception Date
New York Venture Fund A A 6.2711.57 -3.261.56 19.4521.41 -1.35-0.39 4.074.58 6.446.79 9.609.87 10.1510.37 12.9313.11 11.8111.95 11.5611.68 2/17/692/17/69
  B B 7.3511.35 -3.360.64 19.6420.33 -1.64-1.24 3.993.99 6.376.37 ------ ------ ------ ------ 9.299.29 12/1/9412/1/94
  C C 10.3411.34 -0.250.75 20.4520.45 -1.16-1.16 3.773.77 5.965.96 ------ ------ ------ ------ 8.698.69 12/20/9412/20/94
  Y Y ---11.67 ---1.84 ---21.73 ----0.12 ---4.88 ---7.10 ------ ------ ------ ------ ---7.68 ---10/2/96
  R R ---11.45 ---1.23 ---20.99 ----0.73 ------ ------ ------ ------ ------ ------ ---5.58 ---8/20/03
New York Venture Fund A A 5.4810.74 -6.53-1.87 14.1516.02 -2.29-1.33 4.214.72 5.996.33 9.529.79 10.3010.51 12.7412.92 11.7211.85 11.5111.64 2/17/692/17/69
  B B 6.4510.45 -6.66-2.77 14.2214.98 -2.58-2.19 4.134.13 5.915.91 ------ ------ ------ ------ 9.209.20 12/1/9412/1/94
  C C 9.4510.45 -3.61-2.64 15.1215.12 -2.10-2.10 3.913.91 5.505.50 ------ ------ ------ ------ 8.608.60 12/20/9412/20/94
  Y Y ---10.88 ----1.62 ---16.33 ----1.06 ---5.02 ---6.64 ------ ------ ------ ------ ---7.59 ---10/2/96
  R R ---10.59 ----2.21 ---15.62 ----1.67 ------ ------ ------ ------ ------ ------ ---5.43 ---8/20/03
International Fund A A 7.4312.78 -17.27-13.14 16.6218.53 -3.62-2.68 ------ ------ ------ ------ ------ ------ -2.91-2.00 12/29/0612/29/06
  B B 8.5012.50 -19.14-15.77 15.8416.58 -4.42-4.04 ------ ------ ------ ------ ------ ------ -3.54-3.36 12/29/0612/29/06
  C C 11.5212.52 -16.71-15.87 16.4616.46 -4.06-4.06 ------ ------ ------ ------ ------ ------ -3.38-3.38 12/29/0612/29/06
  Y Y ---12.96 ----14.57 ------ ------ ------ ------ ------ ------ ------ ------ ---0.81 ---12/31/09
International Fund A A 6.7912.12 -22.22-18.34 12.0113.84 -4.75-3.82 ------ ------ ------ ------ ------ ------ -2.97-2.08 12/29/0612/29/06
  B B 7.6811.68 -23.53-20.35 11.1711.97 -5.55-5.17 ------ ------ ------ ------ ------ ------ -3.62-3.44 12/29/0612/29/06
  C C 10.8411.84 -21.15-20.35 11.9111.91 -5.17-5.17 ------ ------ ------ ------ ------ ------ -3.44-3.44 12/29/0612/29/06
  Y Y ---12.28 ----19.22 ------ ------ ------ ------ ------ ------ ------ ------ ---0.52 ---12/31/09
Global Fund A A 7.6112.95 -10.13-5.66 21.1623.14 -2.27-1.31 ------ ------ ------ ------ ------ ------ 4.525.23 12/22/0412/22/04
  B B 8.5612.56 -10.56-6.84 21.0021.68 -2.77-2.38 ------ ------ ------ ------ ------ ------ 4.144.14 12/22/0412/22/04
  C C 11.7012.70 -7.42-6.48 21.9321.93 -2.27-2.27 ------ ------ ------ ------ ------ ------ 4.184.18 12/22/0412/22/04
  Y Y ---13.08 ----5.39 ---23.45 ------ ------ ------ ------ ------ ------ ------ ----4.03 ---07/25/07
Global Fund A A 4.9710.18 -16.52-12.34 15.0516.93 -3.62-2.68 ------ ------ ------ ------ ------ ------ 4.124.81 12/22/0412/22/04
  B B 5.729.72 -16.85-13.38 14.8015.55 -4.12-3.74 ------ ------ ------ ------ ------ ------ 3.743.74 12/22/0412/22/04
  C C 8.879.87 -13.97-13.10 15.7915.79 -3.63-3.63 ------ ------ ------ ------ ------ ------ 3.773.77 12/22/0412/22/04
  Y Y ---10.38 ----12.03 ---17.23 ------ ------ ------ ------ ------ ------ ------ ----4.45 ---07/25/07
Opportunity Fund A A 5.4910.78 -2.062.83 20.5622.52 -1.62-0.66 4.154.66 7.237.58 ------ ------ ------ ------ 9.469.77 12/1/9412/1/94
  B B 6.5410.54 -2.141.86 20.7221.40 -1.92-1.56 4.074.07 7.187.18 8.838.83 9.289.28 ------ ------ 10.8910.89 5/1/845/1/84
  C C 9.5310.53 1.012.01 21.5621.56 -1.45-1.45 3.853.85 ------ ------ ------ ------ ------ 4.694.69 8/15/978/15/97
  Y Y ---10.79 ---3.06 ---22.89 ----0.37 ---5.00 ------ ------ ------ ------ ------ ---5.44 ---9/18/97
Opportunity Fund A A 2.037.14 -8.76-4.22 15.1717.06 -2.82-1.87 4.104.61 6.937.27 ------ ------ ------ ------ 9.209.51 12/1/9412/1/94
  B B 2.786.78 -8.92-5.20 15.2215.97 -3.12-2.76 4.024.02 6.886.88 8.948.94 9.279.27 ------ ------ 10.7210.72 5/1/845/1/84
  C C 5.816.81 -5.96-5.02 16.1416.14 -2.65-2.65 3.803.80 ------ ------ ------ ------ ------ 4.424.42 8/15/978/15/97
  Y Y ---7.17 ----4.02 ---17.40 ----1.58 ---4.94 ------ ------ ------ ------ ------ ---5.17 ---9/18/97
Financial Fund A A 8.8514.26 -4.91-0.17 21.7123.71 -3.28-2.33 2.843.34 6.276.62 10.4410.71 ------ ------ ------ 11.2011.45 5/1/915/1/91
  B B 10.0014.00 -4.90-1.30 21.6822.35 -3.65-3.36 2.682.68 6.186.18 ------ ------ ------ ------ 9.799.79 12/27/9412/27/94
  C C 13.0114.01 -1.96-1.06 22.6122.61 -3.20-3.20 2.442.44 ------ ------ ------ ------ ------ 4.194.19 8/12/978/12/97
  Y Y ---14.33 ---0.03 ---23.87 ----2.21 ---3.49 ---6.80 ------ ------ ------ ------ ---6.23 ---3/10/97
Financial Fund A A 8.1313.51 -7.38-2.77 14.6816.56 -3.98-3.04 2.873.37 5.826.16 10.2710.54 ------ ------ ------ 11.1211.37 5/1/915/1/91
  B B 9.1113.11 -7.38-3.87 14.5115.26 -4.35-4.07 2.712.71 5.735.73 ------ ------ ------ ------ 9.709.70 12/27/9412/27/94
  C C 12.1813.18 -4.51-3.63 15.5315.53 -3.89-3.89 2.472.47 ------ ------ ------ ------ ------ 4.114.11 8/12/978/12/97
  Y Y ---13.59 ----2.58 ---16.70 ----2.92 ---3.52 ---6.34 ------ ------ ------ ------ ---6.15 ---3/10/97
Real Estate Fund A A 5.6110.87 7.8213.18 37.2739.52 -4.44-3.50 8.519.04 7.728.07 ------ ------ ------ ------ 9.8210.11 1/3/941/3/94
  B B 6.6110.61 7.9211.92 37.4237.95 -4.76-4.48 8.458.45 7.667.66 ------ ------ ------ ------ 9.879.87 12/27/9412/27/94
  C C 9.6710.67 11.2912.29 38.3938.39 -4.28-4.28 8.218.21 ------ ------ ------ ------ ------ 6.866.86 8/13/978/13/97
  Y Y ---10.96 ---13.49 ---39.99 ----3.18 ---9.44 ---8.46 ------ ------ ------ ------ ---9.35 ---11/8/96
Real Estate Fund A A 8.2813.68 6.1411.43 26.2928.37 -4.12-3.18 8.759.28 8.138.48 ------ ------ ------ ------ 9.9310.22 1/3/941/3/94
  B B 9.3113.31 6.1310.13 26.3326.95 -4.46-4.18 8.678.67 8.068.06 ------ ------ ------ ------ 9.989.98 12/27/9412/27/94
  C C 12.3813.38 9.4910.49 27.3327.33 -3.97-3.97 8.458.45 ------ ------ ------ ------ ------ 6.996.99 8/13/978/13/97
  Y Y ---13.77 ---11.71 ---28.82 ----2.87 ---9.67 ---8.87 ------ ------ ------ ------ ---9.47 ---11/8/96
Appreciation and Income Fund A A 6.3811.67 -9.06-4.51 22.2424.23 0.501.48 5.656.16 5.886.23 ------ ------ ------ ------ 8.248.50 5/1/925/1/92
  B B 7.4011.40 -9.14-5.39 22.4423.10 0.220.58 5.505.50 5.775.77 ------ ------ ------ ------ 8.008.00 2/3/952/3/95
  C C 10.4511.45 -6.22-5.28 23.2323.23 0.680.68 5.275.27 ------ ------ ------ ------ ------ 4.304.30 8/12/978/12/97
  Y Y ---11.73 ----4.33 ---24.50 ---1.73 ---6.41 ---6.48 ------ ------ ------ ------ ---6.87 ---11/13/96
Appreciation and Income Fund A A 5.4010.64 -10.99-6.55 16.5118.42 -0.260.72 5.616.13 5.676.01 ------ ------ ------ ------ 8.158.42 5/1/925/1/92
  B B 6.2710.27 -11.10-7.43 16.5917.33 -0.54-0.18 5.475.47 5.565.56 ------ ------ ------ ------ 7.907.90 2/3/952/3/95
  C C 9.3310.33 -8.25-7.33 17.4517.45 -0.09-0.09 5.245.24 ------ ------ ------ ------ ------ 4.204.20 8/12/978/12/97
  Y Y ---10.68 ----6.41 ---18.64 ---0.95 ---6.37 ---6.26 ------ ------ ------ ------ ---6.77 ---11/13/96
Government Bond Fund A A -4.380.40 -2.871.98 0.562.19 2.263.27 2.593.09 3.493.82 ------ ------ ------ ------ 3.884.17 12/1/9412/1/94
  B B -3.820.17 -2.921.06 0.281.25 2.022.39 2.562.56 3.463.46 3.813.81 4.414.41 ------ ------ 5.325.32 5/1/845/1/84
  C C -0.810.19 0.121.12 1.321.32 2.452.45 2.292.29 ------ ------ ------ ------ ------ 2.792.79 8/19/978/19/97
  Y Y ---0.44 ---2.13 ---2.32 ---3.37 ---3.23 ------ ------ ------ ------ ------ ---3.50 ---9/1/98
Government Bond Fund A A -4.690.07 -3.541.27 0.361.98 2.123.14 2.332.84 3.383.72 ------ ------ ------ ------ 3.844.13 12/1/9412/1/94
  B B -4.04-0.06 -3.440.53 0.131.10 1.882.25 2.312.31 3.343.34 3.763.76 4.564.56 ------ ------ 5.295.29 5/1/845/1/84
  C C -1.03-0.04 -0.400.59 1.181.18 2.342.34 2.062.06 ------ ------ ------ ------ ------ 2.762.76 8/19/978/19/97
  Y Y ---0.31 ---1.61 ---2.17 ---3.24 ---2.99 ------ ------ ------ ------ ------ ---3.47 ---9/1/98


Variable Annuities as of 04/30/1203/31/12

QuarterlyMonthly
    Years (%) Since Inception
Fund Name YTD 1 3 5 10 Inception Date
Value 10.51 -1.67 16.18 -1.28 4.44 3.26 07/01/99
Value 11.17 1.69 21.42 -0.37 4.28 3.34 07/01/99
Real Estate 13.86 10.83 27.93 -3.52 9.11 8.90 07/01/99
Real Estate 10.92 12.38 38.92 -3.87 8.85 8.75 07/01/99
Financial 14.63 -0.64 16.46 -3.61 2.74 2.74 07/01/99
Financial 14.33 1.09 22.52 -3.10 2.59 2.74 07/01/99


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. Returns and expenses for other classes of shares will vary. Current performance may be higher or lower than the performance quoted. For most recent month-end performance, see the monthly tab above or call 800.279.0279.

Consider carefully a fund’s investment objective, risks, charges and expenses before investing. The prospectus contains this and other information and can be obtained by clicking here. Read the prospectus carefully before investing or sending money.

(1) Read here for expense ratios and sales charge disclosures

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Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756.