BALTIMORE, MARYLAND – January 18, 2018 – Adams Diversified Equity Fund, Inc. (NYSE:ADX) announces the Fund’s investment returns for 2017. “We are pleased to report our 2017 results which significantly exceeded the returns of our benchmark and our peer group,” said Mark Stoeckle, CEO of Adams Funds.
The total return on the Fund’s net asset value for 2017 was 26.2%, with dividends and capital gains reinvested. The comparable figures for the Lipper Large-Cap Core Funds Average and the S&P 500 Index were 20.7% and 21.8%, respectively. The total return on the Fund’s market price for the period was 29.4%.
The Fund paid $1.38 per share in income dividends and realized capital gain distributions to shareholders in 2017, producing an annual distribution rate of 9.8%, exceeding the Fund’s annual 6% minimum distribution rate commitment. Details regarding the annual 6% minimum distribution rate commitment can be found at www.adamsfunds.com.
The Fund will be holding a conference call on January 31, 2018 at 2:00 pm EST to discuss our 2017 performance. The call may be accessed at www.adamsfunds.com or by calling 1-877-270-2148 and requesting the Adams Funds conference call. A replay of the call is available through February 21, 2018 by dialing 1-877-344-7529. The access code is 10112238.
The 2017 Annual Report is expected to be released on or about February 26, 2018.
Annualized One, Three and Five-Year Comparative Returns (12/31/17)
|1 Year||3 Year||5 Year|
|Adams Diversified Equity Fund (NAV)||26.2%||11.9%||15.8%|
|Adams Diversified Equity Fund (market price)||29.4%||11.7%||15.9%|
|Lipper Large-Cap Core Mutual Funds Average||20.7%||9.8%||14.3%|
Net Asset Value Announced
The Fund’s net asset value at the end of 2017, compared with the year earlier, was:
|Net asset value per share||$17.55||$15.22|
Ten Largest Equity Portfolio Holdings (12/31/17)
|% of Net Assets|
|Alphabet Inc. Class A & Class C||3.5%|
|Facebook, Inc. Class A||2.7%|
|Adams Natural Resources Fund, Inc.*||2.4%|
|Bank of America Corporation||2.3%|
|Comcast Corporation Class A||2.3%|
|Wells Fargo & Company||2.1%|
|American Express Company||2.1%|
* Non-controlled affiliated closed-end fund
Sector Weightings (12/31/17)
|% of Net Assets|
During the fourth quarter, we initiated new positions in Carnival, Celgene, Colgate-Palmolive, TJX Companies, and UnitedHealth Group.
Since 1929, Adams Funds have 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: www.adamsfunds.com.
For further information, please contact:
Director of Shareholder Communications
410.752.5900 or 800.638.2479