TCW High Dividend Equities Fund

Quarterly Commentary

September 30, 2017


The TCW High Dividend Equities I Share Fund generated a loss of 0.62% during the quarter, underperforming the Russell 3000 Value Index gain of 3.27%. Poor stock selection and negative allocation effects, particularly in Real Estate and cash, drove our underperformance relative to the benchmark. Despite the continued rebound in global equity markets, we continue to believe that the current environment is one where substantial caution is warranted, and have kept the portfolio positioned accordingly...

To read full commentary please click pdf below.

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Legal Disclosures

Net and Gross Expense Ratio
Annual fund operating expenses as stated in the Prospectus dated February 28, 2017.
* Effective February 28, 2017, the Advisor has contractually agreed to cap the expenses (excluding interest and acquired fund fees and expenses, if any) of each class of the Fund at 1.18% until March 1, 2018.
Forward Looking Statement

This report may include estimates, projections and other "forward-looking statements." Due to numerous factors, actual events may differ substantially from those presented. TCW assumes no duty to update any such statements.

About Performance
The performance data presented represents past performance and is no guarantee of future results. Total returns include reinvestment of dividends and distributions. Current performance may be lower or higher than the performance data presented. Performance data current to the most recent month end is available on the product detail page for each Fund. Investment returns and principal value will fluctuate with market conditions. The value of an investment in the Fund, when redeemed, may be worth more or less than its original purchase cost.
Obtain a Prospectus

You should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. A Fund’s Prospectus and Summary Prospectus contain this and other information about the Fund. To receive a Prospectus, please call 800-386-3829 or you may download the PDF TCW Funds Prospectus. Please read it carefully.

The TCW Funds are distributed by TCW Funds Distributors LLC