-- The Fund advanced 17.4% for the first nine months of 2017, exceeding the return of the S&P 500
-- The strongest contributors to the Fund's outperformance year-to-date were Technology and Industrials
BALTIMORE, Oct. 12, 2017 /PRNewswire/ --
PERFORMANCE
Adams Diversified Equity Fund, Inc. (ADX) today announced the Fund's results for the nine months ended September 30th. The total return on Adams Diversified Equity's net asset value (NAV), with dividends and capital gains reinvested, was 17.4%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were 14.2% and 13.5%, respectively. The total return on the market price of the Fund's shares for the period was 20.9%.
For the twelve months ended September 30th, the total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was 21.7%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were 18.6% and 17.7%, respectively. The total return on the market price of the Fund's shares for the period was 24.6%.
"We are pleased with our performance over the past nine and 12 months on both an NAV and market price basis," said Mark Stoeckle, CEO of Adams Funds. "The Fund benefited from its investments in several sectors with large contributions from Technology and Industrials, which enabled us to exceed the benchmark return by 3.2% and 3.1% over the past nine and 12 months, respectively."
NET ASSET VALUE
| 9/30/2017 | 9/30/2016 |
| Net assets | $1,744,456,638 | $1,517,835,665 |
| Shares outstanding | 98,684,525 | 97,016,857 |
| Net asset value per share | $17.68 | $15.65 |
The Fund repurchased 741,261 shares of its common stock during the past nine months at an average price per share of $14.05 and a weighted average discount to NAV of 15.3%.
The Third Quarter Report to Shareholders is expected to be released on or about October 20, 2017.
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. (ADX) and Adams Natural Resources Fund, Inc. (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
800.638.2479 │ walther@adamsfunds.com
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