Dodge & Cox Top Fund Rating Held

Investment committees and research team changes at Dodge & Cox Worldwide; US Stock and Worldwide Global Stock funds’ Morningstar Analyst Ratings of Gold unchanged

Fatima Khizou 22 January, 2019 | 2:15PM

fund manager exit Dodge and Cox rating unchanged

Dodge & Cox Worldwide announced changes to its investment committees and global research team last week. Morningstar fund analysts view these changes as standard practice; they support the firm’s long-standing approach to succession planning and do not affect the Dodge & Cox Worldwide US Stock and Dodge & Cox Worldwide Global Stock funds’ Morningstar Analyst Ratings of Gold.

In our view, the firm continues to boast one of the deepest, experienced and consistent management teams in the U.S. equity space and therefore fundholders remain in good hands. Changes to the U.S. Equity Investment committee and global research team are explained below.

Global Equities Research Team

With chairman and chief investment officer Charles Pohl entering his mid-60s, the firm shored up its long-term leadership with some promotions. David Hoeft, a 25-year veteran of the firm, became associate CIO under Pohl. Hoeft relinquished his role as associate director of research to Steven Voorhis, a pharmaceutical analyst with 22 years of tenure at the firm.

Voorhis will support Bryan Cameron, the firm’s director of research. As two of its longest-tenured leaders, Pohl and Cameron will still help run the firm. Neither intends to retire in the immediate future.

U.S. Equity Investment Committee

Ben Garosi, a chemicals and transportation analyst at the firm, joined the nine-person U.S. Equity Investment Committee that oversees the Gold-rated Dodge & Cox Worldwide US Stock fund. Garosi’s nine-year tenure at the firm is the shortest of any member of the firm’s five investment committees. He is a youthful addition to a veteran committee that averaged 24 years of firm tenure before his appointment. The move reflects Garosi’s growing contributions to the firm.

Additionally, the firm also announced that Charles Pohl, the firm’s CIO, stepped down from the U.S Fixed Income Investment Committee that runs the US-domiciled Gold-rated Dodge & Cox Income at the end of 2018. The firm added analysts Nils Reuter and Michael Kiedel to the committee a year ago to prepare for the change.

This Investment Committee now comprises nine members and averages 19 years of tenure at the firm. Pohl continues to be a member of the U.S. and Global Equity Investment Committees.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Dodge & Cox Worldwide Global Stk USD Acc21.84 USD-0.06

About Author

Fatima Khizou  is an Investment Research Analyst for Morningstar

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