Author: Ticker Magazine
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Last Update: 8:32 AM EDT May 07 2008

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Andrew A. Davis		“We believe that if we can manage the use of the entire capital stack, be it convertible securities, equities, straight debt or preferred stock, we ought to be able to provide investors with equity-like returns, but with less risk and volatility.”		Keith Sabol
		Davis Appreciation & Income Fund

The investment philosophy of Davis Appreciation & Income Fund is premised on the belief that equities are a relevant part of an investment portfolio over the long term. The Fund combines the growth potential of stocks with the income of bonds. Portfolio Managers Andrew Davis and Keith Sabol seek durable businesses at value prices to structure a portfolio with which to participate in the stocks' upside potential while providing a degree of protection against downside risk.