Davis NY Venture A (NYVTX) Fund

As part of Davis Funds, this Davis New York Venture A fund is popular among investors. It is one of the largest US stock funds with $25.49 billion total assets. It receives Gold analyst rating from Morningstar. More fund’s review can be found below.

Davis NY Venture A (Symbol: NYVTX)

The investment objective of Davis NY Venture fund is to provide long-term growth of capital. This US equity fund uses the Davis Investment Discipline to invest the most of the fund’s assets in equity securities issued by large companies with market capitalizations of at least $10 billion. The fund may invest in common stocks, preferred stocks, and convertible bonds. It may invest minority of its assets in foreign securities.

Fund Profile

Davis NY Venture A

• Fund Inception Date: February 17, 1969 
• Ticker Symbol: NYVTX
• CUSIP: 239080-104
• Beta (3yr): 1.08
• Rank in category (2011): 82%
• Category: Large Blend
• Distribution Rate: 1.15%
• Capital Gains: 0%
• Expense Ratio: 0.89%  
• Net Assets: $ 25.49 billion
• Number of Years Up: 32 years
• Number of Years Down: 9 years
• Annual Turnover Rate: 8%

Updated on 2/1/2012

Christopher Cullom Davis has been managing this fund since October 1995. The fund was first introduced to public in February 1969. This large blend fund has total net assets of $25.49 billion. The annual expense ratio of this NYVTX fund is 0.89%. The average expense ratio in Large Blend category is 1.12%. The fund annual holdings turnover as of December 2011 is 8.00%.

Although, the fund has two stars rating from Morningstar, the Morningstar analyst has rated this fund with Gold Rating for its future performance. It has recorded 32 years of positive return and 9 years of negative return. The best 1-year total return was achieved in 1997 with 33.68%. The worst 1-year total return was in 2008 with -40.03%. This domestic stock fund has returned 3.07% over the past ten years and 10.33% over the past three years.

The minimum initial investment for this NYVTX fund is $1,000 for either brokerage or IRA account. There is a minimum subsequent investment of $25 for brokerage account. No minimum subsequent investment for IRA account. The 12b1 fee is 0.24% and the front-end sales load fee is 4.75%. This U.S. stock fund is available for purchase through 123 brokerages such as E Trade Financial, EP Fee Small, Merrill Lynch, Edward Jones, Vanguard, JP Morgan, Fidelity Retail Funds Network, etc. The other classes of this fund are Class B (NYVBX), Class C (NYVCX), Class Y (DNVYX) and Class R (NYVRX).

The top 10 holdings of this U.S stock fund as of September 2011 are American Express (5.2%), Costco Wholesale (5.2%), Wells Fargo & Company (5.1%), CVS Caremark (4.6%), Bank of New York Mellon (4.2%), Loews (3.0%), Merck (3.0%), Bed Bath & Beyond (2.9%), Occidental Petroleum (2.9%), and EOG Resources (2.8%). The top 5 industries are Diversified Financials (13.3%), Pharmaceutical & Health Care (12.2%), Energy (12.2%), Insurance (10.9%) and Food & Staples Retailing (9.8%).

Pros:

• Low portfolio turnover rate
• Low expense ratio fee

Cons:

• It has a sales load

Investing in mutual fund involves risks such as Stock Market risk, Manager risk, Common Stock risk, Financial Services risk, Foreign Country risk, Emerging Market risk, etc.

Disclosure: No Position

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