SUPPLEMENT DATED MAY 24, 2007
                                       TO
                                DAVIS GLOBAL FUND
                       STATEMENT OF ADDITIONAL INFORMATION
                               DATED MARCH 1, 2007


The disclosure in the section entitled "Short-Term Trading Fee" has been amended
and restated as follows:


SHORT-TERM TRADING FEE. The Fund assesses a 2% fee on the proceeds of Fund
shares that are redeemed (either by selling or exchanging to another Davis Fund)
within 30 days of their purchase. The short-term trading fee is paid to the
Fund, and is intended to offset the trading costs, market impact and other costs
associated with short-term money movements in and out of the Fund. The
short-term trading fee is imposed to the extent that Fund shares redeemed exceed
Fund shares that have been held more than 30 days. For shares of the Fund
acquired by exchange, the holding period prior to the exchange is not considered
in determining whether to apply the redemption fee. The redemption fee is not
imposed on:

   (1)   shares redeemed under automatic withdrawal plans;
   (2)   shares redeemed due to death or disability of the shareholder; or
   (3)   shares redeemed from accounts for which the dealer, broker or financial
         institution of record has entered into an agreement with the
         Distributor for this purpose.