4 / 5 Stars
4 5 5 4 3
Zacks Investment Research
Standard & Poor's
5 / 5 Stars
#58 in Large Growth
U.S. News evaluated 468 Large Growth Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.
The fund has returned 20.39 percent over the past year, 13.74 percent over the past three years, 18.56 percent over the past five years, and 7.27 percent over the past decade.
|Trailing Returns||Updated 01.31.2014|
|Year to date||-3.7%|
|3 Years (Annualized)||13.7%|
|5 Years (Annualized)||18.6%|
|10 Years (Annualized)||7.3%|
Davenport Core fund has rewarded patient investors.
As of February 05, 2014, the fund has assets totaling almost $265.66 million invested in 53 different holdings. Its portfolio consists primarily of shares of large companies.
For Davenport Core, 2010 was a middling year. The fund finished the year virtually in a dead heat with the broader market and the average performance of funds in Morningstar's large-growth category. Poor performance from Cisco and Microsoft, coupled with lukewarm growth from other picks, such as Markel Corporation, kept the fund from having a banner year. By sector, this fund has been shying away from hardware and software stocks, both of which have traditionally been fertile hunting grounds for growth funds. Instead, management has built up positions in the financial services and energy sectors with names like Wells Fargo and ExxonMobil. Recently, the fund has added a few new names, including Ford, to its portfolio. According to the fund's semiannual report for the period ending on Sept. 30, 2010: "Since the company's brush with bankruptcy during the credit crisis of 2008-2009, Ford has emerged a much stronger company with a healthy balance sheet, a focused management team, an impressive slate of high quality vehicles and significant earnings power. While the stock has made heroic advances alongside the company's debt reduction efforts, market share gains, and new product momentum, we believe we are in the early innings of what could be a multi-year success story." The fund has returned 20.39 percent over the past year and 13.74 percent over the past three years.
Over time, this fund has had its fair share of off years. But the good has still outweighed the bad, and as of the end of the first quarter, its trailing 10-year returns landed it in the top 21 percent of Morningstar's large-growth category. The fund has returned 18.56 percent over the past five years and 7.27 percent over the past decade.
According to the fund's prospectus: "The Advisor will invest in common stocks of companies that show strong growth potential [and] have strong and focused management, solid balance sheets and a history of proven results. ... The Advisor attempts to control risk through diversification among major market sectors. The Advisor does not limit the Fund to any particular capitalization requirement. At any time, the Fund may invest a portion of its assets in small, unseasoned companies."
Role in Portfolio
This fund could lend support to a well-balanced portfolio.
A team of seven managers runs the fund.
Davenport Equity Fund has an expense ratio of 0.95 percent.
Like all stock funds, this one comes with some risks.