PART C EXHIBIT (17) SHAREHOLDER NOTICE


                  __xx___, 2001


                       Important Changes for Shareholders
                        of Davis Growth and Income Funds


As stewards of our shareholders' capital, we are constantly alert to
opportunities to better serve their needs and interests. We are, therefore,
proposing to transfer the assets of Davis Growth & Income Fund to the Davis New
York Venture Fund (DNYVF).

The Davis Growth & Income Fund (DGIF) was established in May 1998 and to date
has only reached $80 million of assets. We are not convinced that the fund will
grow sufficiently to achieve economies of scale. While DGIF has as its
investment objectives capital growth and income and DNYVF has as its investment
objective capital growth, the income component of DGIF's total return has been
very small. As of March 31, 2001, DGIF has an SEC 30-day yield of only 0.86%.

Both the DGIF and DNYVF are managed according to the Davis Investment
Discipline and both hold many of the same securities. The DNYVF has an overall
rating of ________ from Morningstar. DNYVF has lower expense ratios for all
classes of shares than does DGIF. In addition, the proposed reorganization will
not be taxable to shareholders.

The Board of Directors for DGIF and the DNYVF approved proposals on June 12,
2001, to reorganize the funds. Shareholders of DGIF as of __xx__, 2001, are
scheduled to vote on the proposals at a special meeting on __xx__, 2001. More
detailed information about the proposals will be mailed to shareholders on or
about __xx__, 2001.

If you have any questions, or want more information, please call our toll-free
number 1-800-279-0279 and one of our service representatives will be pleased to
assist you.