DREYX : Davis Real Estate Fund Class Y

Fund Summary

The investment seeks total return through a combination of growth and income. The fund's investment adviser uses the Davis Investment Discipline to invest at least 80% of the fund's net assets, plus any borrowing for investment purposes, in securities issued by companies principally engaged in the real estate industry. The fund invests principally in common stocks of domestic companies and may invest in foreign companies (including indirect holdings of a foreign issuer's common stock through depositary receipts).