BALTIMORE, Jan. 18, 2018 /PRNewswire/ -- 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 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
Funds Average
|
20.7%
|
9.8%
|
14.3%
|
S&P
500
|
21.8%
|
11.4%
|
15.8%
|
NET ASSET VALUE ANNOUNCED
The Fund's net asset value at the end of 2017, compared with the
year earlier, was:
|
|
12/31/17
|
12/31/16
|
Net assets
|
$1,785,771,890
|
$1,513,497,727
|
Shares
outstanding
|
101,735,657
|
99,436,824
|
Net asset value per
share
|
$17.55
|
$15.22
|
TEN LARGEST EQUITY PORTFOLIO HOLDINGS
(12/31/17)
|
% of Net
Assets
|
Apple Inc.
|
4.5%
|
Microsoft
Corporation
|
4.0%
|
Alphabet Inc. Class A
& Class C
|
3.5%
|
Amazon.com,
Inc.
|
2.9%
|
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%
|
Total
|
28.8%
|
* Non-controlled affiliated closed-end
fund
|
|
SECTOR WEIGHTINGS (12/31/17)
|
% of Net
Assets
|
Information
Technology
|
24.1%
|
Financials
|
15.0%
|
Health
Care
|
13.5%
|
Consumer
Discretionary
|
12.3%
|
Industrials
|
10.0%
|
Consumer
Staples
|
8.2%
|
Energy
|
6.4%
|
Real
Estate
|
2.9%
|
Utilities
|
2.7%
|
Materials
|
2.0%
|
Telecommunication
Services
|
1.1%
|
During the fourth quarter, we initiated new positions in
Carnival, Celgene, Colgate-Palmolive, TJX Companies, and
UnitedHealth Group.
About Adams Funds
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.
Contact:
Lyn Walther
Director of Shareholder Communications
walther@adamsfunds.com
500 East Pratt Street, Suite 1300, Baltimore, MD 21202 │ 410.752.5900 │
800.638.2479 │ adamsfunds.com
View original content with
multimedia:http://www.prnewswire.com/news-releases/adams-diversified-equity-fund-announces-2017-performance-and-january-31-conference-call-300584949.html
SOURCE Adams Diversified Equity Fund, Inc.