BALTIMORE , Oct. 15, 2020 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) today announced the Fund's results for the nine months ended September 30 th . The total return on Adams Diversified Equity's net asset value, with dividends and capital gains reinvested, was 6.4%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were 5.6% and 4.0%, respectively. The total return on the market price of the Fund's shares for the period was 3.8%.
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 15.2%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Funds Average were 15.2% and 13.0%, respectively. The total return on the market price of the Fund's shares for the period was 11.8%.
"We are pleased that our returns exceeded both the S&P 500 and our Lipper peer group for the first nine months of 2020," said Mark Stoeckle , CEO of Adams Funds. "Our Consumer Discretionary investments were the primary driver of our relative performance."
|
NET ASSET VALUE
|
|
|
9/30/2020
|
9/30/2019
|
|
Net assets
|
$2,053,552,203
|
$1,888,506,024
|
|
Shares outstanding
|
108,731,167
|
105,412,589
|
|
Net asset value per share
|
$18.89
|
$17.92
|
The Fund repurchased 135,192 shares of its common stock during the past nine months at an average price per share of $11.64 and a weighted average discount to NAV of 15.1%.
The Third Quarter Report to Shareholders is expected to be available on or about October 20, 2020 .
###
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 │walther@adamsfunds.com
View original content to download multimedia: http://www.prnewswire.com/news-releases/adams-diversified-equity-fund-reports-nine-month-results-301153635.html
SOURCE Adams Funds