Adams Diversified Equity Fund Announces 2018 Performance And January 30 Conference Call
BALTIMORE, Jan. 17, 2019 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. (NYSE:ADX) announces the Fund's investment returns for 2018.
BALTIMORE, Jan. 17, 2019 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. (NYSE:ADX) announces the Fund's investment returns for 2018. "We are pleased to report our 2018 results, which exceeded the returns of our benchmark and our peer group for the year, as well as the three- and five-year time periods," said Mark Stoeckle, CEO of Adams Funds.
The total return on the Fund's net asset value for 2018 was -2.6%, with dividends and capital gains reinvested. The comparable figures for the Lipper Large-Cap Core Funds Average and the S&P 500 Index were -5.6% and -4.4%, respectively. The total return on the Fund's market price for the period was -3.6%.
The Fund paid $2.00 per share in income dividends and realized capital gain distributions to shareholders in 2018, producing an annual distribution rate of 12.9%, exceeding the Fund's annual 6% minimum distribution rate commitment. Details regarding the annual 6% minimum distribution rate commitment can be found at adamsfunds.com.
The Fund will be holding a conference call on January 30, 2019 at 2:00 pm EST to discuss our 2018 performance. We invite shareholders to submit questions to [email protected]. The call may be accessed at adamsfunds.com or by calling 1-877-270-2148 and requesting the Adams Funds conference call. A replay of the call will be available through February 20, 2019 by dialing 1-877-344-7529. The access code is 10126946.
The 2018 Annual Report is expected to be released on or about February 27, 2019.
ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/18)
|
1 Year |
3 Year |
5 Year |
|
|
Adams Diversified Equity Fund (NAV) |
-2.6% |
10.3% |
9.3% |
|
Adams Diversified Equity Fund (market price) |
-3.6% |
10.0% |
8.8% |
|
Lipper Large-Cap Core Funds Average |
-5.6% |
7.9% |
6.9% |
|
S&P 500 |
-4.4% |
9.3% |
8.5% |
NET ASSET VALUE ANNOUNCED
The Fund's net asset value at the end of 2018, compared with the year earlier, was:
|
12/31/18 |
12/31/17 |
|
|
Net assets |
$1,580,889,241 |
$1,785,771,890 |
|
Shares outstanding |
106,205,633 |
101,735,657 |
|
Net asset value per share |
$14.89 |
$17.55 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/18)
|
% of Net Assets |
|
|
Microsoft Corporation |
5.1% |
|
Amazon.com, Inc. |
4.1% |
|
Alphabet Inc. Class A & Class C |
3.4% |
|
Apple Inc. |
2.9% |
|
Visa Inc. Class A |
2.5% |
|
Berkshire Hathaway Inc. Class B |
2.5% |
|
UnitedHealth Group Incorporated |
2.3% |
|
Merck & Co., Inc. |
2.1% |
|
JPMorgan Chase & Co. |
2.1% |
|
Bank of America Corporation |
2.1% |
|
Total |
29.1% |
SECTOR WEIGHTINGS (12/31/18)
|
% of Net Assets |
|
|
Information Technology |
21.4% |
|
Health Care |
15.8% |
|
Financials |
12.9% |
|
Consumer Discretionary |
10.8% |
|
Industrials |
9.2% |
|
Communication Services |
8.1% |
|
Consumer Staples |
6.7% |
|
Energy |
5.2% |
|
Real Estate |
3.5% |
|
Utilities |
3.2% |
|
Materials |
2.1% |
During the fourth quarter, we initiated new positions in Altria Group, Broadridge Financial Solutions, Centene, Cigna, NIKE, Palo Alto Networks, Raymond James Financial, Sherwin-Williams, Travelers Companies, and United Technologies.
About Adams Funds
Since 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO).The Funds are actively managed by an experienced team with a disciplined approach and have paid dividends for more than 80 years across many market cycles. The Funds are committed to paying an annual distribution rate of 6% or more, providing reliable income to long-term investors. Shares can be purchased through our transfer agent or through a broker. For more information about Adams Funds, please visit: adamsfunds.com.
Contact:
Lyn Walther
Director of Shareholder Communications
800-638-2479
[email protected]
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SOURCE Adams Diversified Equity Fund, Inc.
