Bestinvest Logo
Why us
Planning ahead
Insights
fund

Dodge & Cox Worldwide US Stock GBP

Bestinvest LogoLarge and mega cap US equities with a value-based approach

PRICE (INC)

2911p

PRICE (ACC)

4840p

INITIAL CHARGE

0%

ANNUAL MANAGEMENT CHARGE

0.6%

ONGOING CHARGE

0.63%

YIELD

0.7%

1 YEAR
10.51%

Prices as at 10 Aug 2022.

Fund commentary last updated 12 Oct 2021.

Past performance is not an indication of future performance.

Capital at risk.

This fund aims to provide long-term growth of principal and income through investment primarily in a diversified portfolio of US equities. The fund’s managers typically invest in large-cap companies which appear to be temporarily undervalued by the stockmarket, but have a favourable outlook for long-term profit and growth. They take an active and entirely bottom-up investment approach. This involves looking at company criteria such as valuation, competitive environment, and balance sheet strength. The managers hold onto stocks for between three and five years to give the investment case time to come through. Holdings include bank Wells Fargo, Google owner Alphabet and Sky TV owner Comcast.

Fund summary

SectorNorth America
StructureOFFSHORE FUND
LaunchedNovember 2010
Size£3,047m
Yield0.7%
Charging BasisCapital
Dividends paid25 Mar, 24 Jun, 24 Sep, 18 Dec

Charges

Standard Initial Charge0%
Initial Charge Via BestInvest0%
Additional Bid/Offer Spread0%
Annual Management Charge0.6%
Ongoing Charges Figure0.63%

Investment Process

The process is based on bottom-up fundamental research with 400 company meetings a year. The managers look at three main criteria to find stocks with long-term staying power. These are a company’s Valuation and understanding what is priced in, the External Environment such as economic conditions and industry structure and finally Internal Characteristics incorporating management, use of cash flow and balance sheet strength. The managers look for the ‘Perfect Story’ – a company ticking all three boxes – but accept that there will be a trade-off between each criterion. To get a stock in the portfolio an analyst will typically write a 40-60 page report outlining the company’s ability to meet the three selection criteria. The analyst also creates worst, base, and best-case scenarios for the stock. If an idea has merit the analyst presents it to the sector committee. A devil’s advocate researches the stock and looks to pick holes in the analysis. Ideas that pass this committee are referred to the investment committee which chooses the portfolio. A typical stock would be a business with strong finances and average growth prospects but trading on an attractive valuation versus its history and relative to the sector. These are called compounders and make up most of the portfolio. In addition, the managers also look at above average growth, cyclical, and deep value stocks.

The information on this website is not intended to be advice or a recommendation to buy, sell or hold any investment mentioned. The value of investments and the income from them can go down as well as up and you may not get back the amount invested.

Past performance is not a guide to future performance. View full risk warning