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About Davis Advisors

• An independent, employee-owned investment management firm founded in 1969. • A time-tested investment discipline offered to clients through ETFs, mutual funds, variable annuities, separately managed accounts, and offshore funds. • Founded more than 50 years ago, our mission has been to serve our shareholders with high integrity. How We Seek to Compound Long-Term Wealth • We employ a patient, long-term investment approach. • We seek to beat the index, not mirror it. True active management, high-conviction and benchmark-agnostic. • We believe stocks represent ownership interests in businesses and therefore we rigorously research company fundamentals. • We are highly sensitive to valuation, as price can be critical in generating attractive long-term investment results. --------------------------- An investor should consider the investment objectives, risks, charges, and expenses of the Funds carefully before investing. The prospectuses contain this and other information about the Funds. You can obtain a current prospectus calling 800‑279‑0279. Please read the prospectus or summary prospectus carefully before investing or sending money. Investing involves risks including possible loss of principal.

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