The Adams Express Fund Announces 2014 Outperformance: NAV Return Of 14.3%; Market Price Return Of 13.7%

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Jan 08, 2015, 04:01 ET

BALTIMORE, Jan. 8, 2015 /PRNewswire/ -- The Adams Express Company (NYSE: ADX) announces the Fund's investment returns for 2014.

2014 INVESTMENT RETURNS

The total return on the Fund's net asset value for the twelve months ended December 31, 2014 was 14.3%, with dividends and capital gains reinvested. Comparable figures for the Lipper Large-Cap Core Mutual Funds Average ("Lipper Peer Group") and the S&P 500 Composite Stock Index ("S&P 500") were 11.3% and 13.7%, respectively. The total return on the Fund's market price for the same period was 13.7%. Commented Mark Stoeckle, CEO of the Fund, "We were very pleased that the Fund's NAV outperformed both its benchmark, the S&P 500, and the Lipper Peer Group. 2014 was a difficult investment environment. Staying true to our disciplined investment philosophy and process put us in position to do quite well."

The Fund paid $1.18 per share in income dividends and realized capital gains to shareholders in 2014, producing an annual distribution rate of 8.8%, exceeding the Fund's annual 6% minimum distribution rate commitment. Details regarding the annual 6% minimum distribution rate commitment can be found at www.adamsexpress.com.

NET ASSET VALUE ANNOUNCED

The Fund's net asset value at the end of 2014, compared with the year earlier, was:

	12/31/14	12/31/13
Net assets	$1,527,772,661	$1,421,550,920
Shares outstanding	96,286,656	94,223,617
Net asset value per share	$15.87	$15.09

The Fund repurchased 1,011,600 shares of its common stock, at a cost of $13,744,866, during the twelve-month period. The shares were repurchased at a weighted average discount to net asset value of 14.0%.

OTHER SUMMARY FINANCIAL INFORMATION

	12/31/14	12/31/13
Unrealized appreciation	$469,715,852	$393,843,628
Net investment income	$19,120,191	$18,656,769
Net realized gain	$93,558,308	$57,371,366

Key Ratios

Net investment income to average net assets*	1.29%	1.44%
Expense ratio (to average net assets)*	0.58%	0.69%
Portfolio turnover*	26.6%	55.9%
Net cash & short-term investments to net assets	0.9%	0.6%

* Annualized

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/14)

	Market Value	% of Net Assets
Apple Inc.	$72,089,178	4.7%
Petroleum & Resources Corp.*	52,132,692	3.4%
Wells Fargo & Co.	39,415,580	2.6%
Google Inc. (Class A & Class C)	37,525,630	2.5%
Walt Disney Co.	35,566,144	2.3%
Gilead Sciences, Inc.	35,432,334	2.3%
Lowe's Companies, Inc.	33,712,000	2.2%
Citigroup Inc.	33,385,870	2.2%
Union Pacific Corp.	33,118,140	2.2%
CVS/Caremark Corp.	30,241,340	2.0%
Total	$402,618,908	26.4%

*Non-controlled affiliated closed-end fund

SECTOR WEIGHTINGS (12/31/14)

	% of Net Assets
Information Technology	19.8%
Financials	17.2%
Health Care	14.5%
Consumer Discretionary	12.4%
Industrials	10.4%
Consumer Staples	9.3%
Energy	8.5%
Materials	2.6%
Utilities	2.6%
Telecommunication Services	1.8%

ANNUALIZED ONE, THREE AND FIVE-YEAR COMPARATIVE RETURNS (12/31/14)

	1 Year	3 Year	5 Year
Adams Express (NAV)	14.3%	19.3%	12.9%
Adams Express (market)	13.7%	20.6%	13.4%
Lipper Peer Group	11.3%	19.1%	13.9%
S&P 500	13.7%	20.4%	15.5%

The 2014 Annual Report is expected to be released on or about February 27, 2015.

The Adams Express Company is a Baltimore-based closed-end fund that has been operating as an investment company since 1929. Its stock trades on the New York Stock Exchange under the symbol ADX.

For further information please contact:

Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary
410-752-5900 or 800-638-2479
E-mail: [email protected]
Website: www.adamsexpress.com

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SOURCE Adams Express Company