Dodge & Cox Funds Statutoary Prospectus dated May 1, 2013

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The Fund’s past performance (before and after taxes)does not necessarily indicate how the Fund will perform inthe future. Visit the Fund’s website at www.dodgeandcox.comor call 800-621-3979 for current performance figures.DODGE & COX INCOME FUNDAnnual total returns 2004-2013 (%)3.641.9804 055.30064.6807−0.2916.057.174.767.940.6408 09 10 11 12 13Highest/Lowest quarterly results during the time period were:Highest: 7.48% (quarter ended June 30, 2009)Lowest: –3.77% (quarter ended September 30, 2008)AVERAGE ANNUAL TOTAL RETURNSFOR THE PERIODS ENDED 12/31/2013Dodge & CoxIncome Fund 1 Year 5 Years 10 YearsReturn before taxes 0.64% 7.20% 5.10%Return after taxes on distributions –0.68 5.59 3.43Return after taxes on distributionsand sale of Fund shares 0.36 5.00 3.31Barclays U.S. Aggregate BondIndex (reflects no deduction forexpenses or taxes) –2.02 4.46 4.55After-tax returns are calculated using the historicalhighest individual federal marginal income tax rates, butdo not reflect the impact of state or local taxes. Actualafter-tax returns may differ depending on your individualcircumstances. After-tax return figures do not apply to youif you hold your Fund shares through a tax-deferredarrangement such as a 401(k) plan or an individualretirement account.FUND MANAGEMENTDodge & Cox serves as investment manager to the Income Fund. The Fund is managed by Dodge & Cox’s Fixed IncomeInvestment Policy Committee (FIIPC), which consists of the following nine members:Committee MemberDana M. EmeryCharles F. PohlThomas S. DuganPrimary Title with Investment ManagerChief Executive Officer, President, Director of Fixed Income, Director, Portfolio Manager,and member of Global Bond Investment Policy Committee (GBIPC)Chairman, Chief Investment Officer, Director, Portfolio Manager, Investment Analyst,and member of Investment Policy Committee, Global Stock Investment PolicyCommittee, and International Investment Policy CommitteeSenior Vice President, Associate Director of Fixed Income, Director, Portfolio Manager,Investment Analyst, and member of GBIPCYears managingthe Fund/Years withDodge & CoxKent E. Radspinner Vice President, Portfolio Manager, and Investment Analyst 18/18Larissa K. Roesch Vice President, Portfolio Manager, and Investment Analyst 16/17James H. Dignan Vice President, Portfolio Manager, Investment Analyst, and member of GBIPC 12/15Anthony J. Brekke Vice President, Portfolio Manager, and Investment Analyst 6/11Adam S. Rubinson Vice President, Portfolio Manager, Investment Analyst, and member of GBIPC 4/12Lucinda I. Johns Vice President, Portfolio Manager, Investment Analyst, and member of GBIPC 2/1225/3121/3020/20OTHER IMPORTANT INFORMATION ABOUT FUND SHARESFor important information about purchase and sale of Fund shares, tax information, and payments to financial intermediariesplease turn to the “Summary of Other Important Information About Fund Shares” section on page 26 of this prospectus.PAGE 20 ▪ D ODGE & C OX F UNDS
DODGE & COX GLOBAL BOND FUNDINVESTMENT OBJECTIVESThe Fund seeks a high rate of total return consistent withlong-term preservation of capital.FEES AND EXPENSESThis table describes the fees and expenses that you maypay if you buy and hold shares of the Fund.SHAREHOLDER FEES(fees paid directly from your investment)Sales charge (load) imposed on purchasesDeferred sales charge (load)Sales charge (load) imposed onreinvested distributionsRedemption feeExchange feeNoneNoneNoneNoneNoneAlthough your actual costs may be higher or lower,under these assumptions your costs would be:1 Year 3 Years 5 Years 10 Years$61 $192 $335 $750PORTFOLIO TURNOVERThe Fund pays transaction costs when it buys and sellssecurities (or “turns over” its portfolio). A higher portfolioturnover rate may indicate higher transaction costs andmay result in higher taxes when Fund shares are held in ataxable account. These transaction costs, which are notreflected in annual Fund operating expenses or in theexample, affect the Fund’s performance. Because the Fundhad not commenced operations as of the most recentfiscal year end, no portfolio turnover rate is available forthe Fund.ANNUAL FUND OPERATING EXPENSES(expenses that you pay each year as a percentage of the value ofyour investment)Management fees .50%Distribution and/or service (12b-1) feesNoneOther expenses (transfer agent, custody,accounting, legal, etc.) .33%*Total Annual Fund Operating Expenses .83%Expense Reimbursement .23%**Net Expenses .60%* Other expenses are based on estimated amounts for the currentfiscal year.** For the fiscal periods ending December 31, 2014 and 2015,Dodge & Cox has contractually agreed to reimburse the Fund forall ordinary expenses to the extent necessary to maintain TotalAnnual Fund Operating expenses at 0.60%. The agreement isrenewable annually thereafter and is subject to termination upon30 days’ written notice by either party.Example: This example is intended to help you comparethe cost of investing in the Fund with the cost ofinvesting in other mutual funds.The example assumes that:▪ You invest $10,000 in the Fund for the time periodsindicated and then redeem all of your shares at the endof those time periods;▪ Your investment has a 5% return each year; and▪ The Fund’s operating expenses remain the same.PRINCIPAL INVESTMENT STRATEGIESThe Fund invests in bonds and other debt instruments ofissuers from at least three different countries, includingemerging market countries. The Fund is not required toallocate its investments in set percentages to particularcountries and may invest in emerging markets withoutlimit. Under normal circumstances, the Fund invests atleast 40% of its total assets in securities of non-U.S. issuersand invests at least 80% of its total assets in debtinstruments, which may, in each case, be represented byderivatives such as forwards, futures contracts, swapagreements, or options. Debt instruments in which theFund may invest include, but are not limited to,government and government-related obligations,mortgage- and asset-backed securities, corporate andmunicipal bonds, collateralized mortgage obligations,repurchase agreements, and other debt securities, and mayinclude fixed and floating rate instruments. The Fundinvests in both U.S. dollar-denominated and non-U.S.currency denominated debt instruments. The Fund mayalso invest directly or indirectly in restricted securities ofU.S. and non-U.S. companies, including securities issuedthrough private offerings outside the United States.The Fund invests primarily in investment-grade debtinstruments (instruments rated Baa or higher by Moody’sInvestors Service (Moody’s), BBB or higher by StandardD ODGE & C OX F UNDS ▪ PAGE 21
Page 1 and 2: D ODGE & COX F UNDS ®May 1, 2014Li
Page 3 and 4: DODGE & COX STOCK FUNDINVESTMENT OB
Page 5 and 6: do not reflect the impact of state
Page 7 and 8: should expect the Fund’s share pr
Page 9 and 10: FUND MANAGEMENTDodge & Cox serves a
Page 11 and 12: PRINCIPAL RISKS OF INVESTINGYou cou
Page 13 and 14: FUND MANAGEMENTDodge & Cox serves a
Page 15 and 16: may be invested in below investment
Page 17 and 18: An investment in the Fund is not a
Page 19 and 20: DODGE & COX INCOME FUNDINVESTMENT O
Page 21: was anticipated, delaying the retur
Page 25 and 26: “junk” securities, have specula
Page 27 and 28: The Fund’s past performance (befo
Page 29 and 30: INVESTMENT OBJECTIVES, PRINCIPAL IN
Page 31 and 32: y non-U.S. companies from at least
Page 33 and 34: apidly changing economic, market, a
Page 35 and 36: securities rated Baa or BBB or belo
Page 37 and 38: lower interest rates, resulting in
Page 39 and 40: DISCLOSURE OF PORTFOLIO HOLDINGSA c
Page 41 and 42: successful, hedging strategies may
Page 43 and 44: also include futures contracts that
Page 45 and 46: HOW TO PURCHASE SHARES (continued)I
Page 47 and 48: authorized signatory named on a cer
Page 49 and 50: If, subsequent to placing a redempt
Page 51 and 52: fully reflect their fair value. The
Page 53 and 54: PRICING OF SHARESThe share price (n
Page 55 and 56: from the account. These accounts ar
Page 57 and 58: GLOBAL STOCK INVESTMENT POLICY COMM
Page 59 and 60: FIXED INCOME INVESTMENT POLICY COMM
Page 61 and 62: Code of Ethics Dodge & Cox has adop
Page 63 and 64: Important Note: The services descri
Page 65 and 66: DODGE & COX BALANCED FUNDYear Ended
Page 68: D ODGE & COX F UNDS ®FOR MORE INFO

Dodge & Cox Funds Statutoary Prospectus dated May 1, 2013

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