TCW Select Equities Fund

Quarterly Commentary

December 31, 2017

Performance

The TCW Select Equities I Share Class Fund (the “Fund”) generated a return of 5.44% during the quarter and underperformed the Russell 1000® Growth Index return of +7.86%. For calendar year 2017, the strategy returned +32.80% and outperformed the Russell 1000 Growth Index return of +30.21%. Volatility remained subdued for the quarter and for the year. Equity markets did not have a single trading day with a 5% or greater pullback in 2017, versus the historical average of three times per year since 1928. If the equity markets rally for another 18 months, this would mark the longest such period in U.S. history...

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Legal Disclosures


Russell 1000® Growth Index – Measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. The Russell 1000 Growth Index is constructed to provide a comprehensive and unbiased barometer for the large-cap growth segment.

Portfolio Characteristics & Holdings

Portfolio characteristics and holdings are subject to change at any time.

A Word About Risk

Equity investments entail equity risk and price volatility risk. The value of stocks and other equity securities will change based on changes in a company's financial condition and in overall market and economic conditions.

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