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Dodge & Cox International Stock Closing Its Doors

High level of inflows leads firm to take action.

Securities In This Article
Dodge & Cox International Stock I
(DODFX)

Dodge & Cox announced today that

Existing shareholders will still be able to add to their investments in the fund.

Dodge & Cox International Stock, launched in 2001, has grown in assets quite dramatically in recent years. The fund now has about $66 billion in assets, making it one of the largest international-stock portfolios.

Two members of the fund's investment team, Diana Strandberg and Charles Pohl, told Morningstar that the fund's current size is not causing the managers any difficulties, but that if inflows continued at their current high levels, they could foresee a time when the fund's bulk would limit the managers' investment flexibility, even with their low-turnover, long-term strategy.

All five of the firm's other funds remain open.

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About the Author

Gregg Wolper

Senior Analyst, Equity Strategies, Manager Research
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Gregg Wolper, Ph.D., is a senior manager research analyst, equity strategies, for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers equity strategies and sits on the Morningstar Analyst Ratings Committee for international-equity funds. Wolper covers a variety of international- and domestic-equity strategies from asset managers including Invesco, GQG, and Sound Shore. Wolper joined Morningstar as a closed-end fund analyst in 1992 and has held several positions within the company, including associate director of fund analysis. In addition to researching individual funds, he also writes articles for Morningstar.com, Morningstar FundInvestor, and Morningstar Magazine.

Wolper holds a bachelor’s degree in history, with high honors, from the University of Michigan. He also holds a master’s degree and a doctorate in history from the University of Chicago, with a specialization in U.S. foreign relations.

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