History

• The first of the Selected Family of Funds was Selected American Shares. It was founded in 1933. Selected Special Shares was founded in 1939. Both funds are among the oldest mutual funds in the United States. Selected Daily Government Fund was founded much later, in 1989.
  
  

Size

• The Selected Family of Funds encompasses three mutual funds. The Selected American Shares is a U.S.-based large cap fund. The Selected Special Shares is a U.S. based mid-cap fund. Selected Daily Government Fund is a money market fund.
  
  

Considerations

• All three of the Selected Family of Funds mutual funds are now managed by Davis Advisors. Davis Advisors manages several of their own mutual funds and their philosophy and fund managers. Thus, an investor should understand that despite the difference in names, the Selected Funds will be invested according to the same paradigm as other Davis mutual funds.
  
  

Effects

• Like many other funds, the stock market decline of 2008 had a large negative effect on the two non-money market Selected funds. For 2008, Selected American Shares Class S shares were down 39.44%. Selected Special Shares Class S shares were down 44.72% for 2008.
  
  

Types

• Both non-money market Selected Funds mutual funds have two classes of shares, S and D. Class S shares have a 12b-1 fee and are sold primarily through financial intermediaries such as financial advisors, stock brokers and "mutual fund supermarkets." There is a minimum investment of $1,000 in the S share class. Class D shares do not have a 12b-1 fee and thus are primarily directed at investors who make their own investment decisions and purchases. There is a minimum investment of $10,000 for the D share class.