Fund Times: Dodge & Cox Reopens Two Great Funds to New Investors
Dodge & Cox Stock and Dodge & Cox Balanced reopen to take advantage of opportunities.
Another veteran value shop is reopening funds to take advantage of opportunities in the market.
San Francisco-based Dodge & Cox reopened Dodge & Cox Stock (DODGX) and Dodge & Cox Balanced (DODBX) to new investors Monday. The funds had been closed for about four years, but the firm has said that its stock and balanced funds have been experiencing net redemptions since the first half of 2007. At the same time, stock and bond market volatility over the last several months have created what Dodge & Cox called in a statement "many interesting long-term equity and fixed income opportunities." The firm decided to reopen the funds to balance the outflows with new money so that it could buy attractive stocks and bonds without selling existing positions.
Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.