The Oakmark Fund |
| Eleven Months Ended September 30, 1997 |
Year Ended
October 31,
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Period Ended October 31, 1991(a) | |||||
| 1996 | 1995 | 1994 | 1993 | 1992 | |||
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| Net Asset Value, Beginning of Period | $ 32.39 | $ 28.47 | $ 25.21 | $ 24.18 | $ 17.11 | $ 12.10 | $ 10.00 |
| Income From Investment Operations: | |||||||
| Net Investment Income (Loss) | 0.36 | 0.34 | 0.30 | 0.27 | 0.17 | (0.03) | (0.01) |
| Net Gains or Losses on Securities (both realized and unrealized) | 10.67 | 4.70 | 4.66 | 1.76 | 7.15 | 5.04 | 2.11 |
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| Total From Investment Operations | 11.03 | 5.04 | 4.96 | 2.03 | 7.32 | 5.01 | 2.10 |
| Less Distributions: | |||||||
| Dividends (from net investment income) | (0.34) | (0.28) | (0.23) | (0.23) | (0.04) | -- | -- |
| Distributions (from capital gains) | (1.87) | (0.84) | (1.47) | (0.77) | (0.21) | -- | -- |
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| Total Distributions | (2.21) | (1.12) | (1.70) | (1.00) | (0.25) | -- | -- |
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| Net Asset Value, End of Period | $ 41.21 | $ 32.29 | 28.47 | $ 25.21 | $ 24.18 | $ 17.11 | $ 12.10 |
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| Total Return | 39.24%* | 18.07% | 21.55% | 8.77% | 43.21% | 41.40% | 87.10%* |
| Ratios/Supplemental Data: | |||||||
| Net Assets, End of Period ($ million) | $ 6,614.9 | $ 3,933.9 | $ 2,827.1 | $ 1,677.3 | $ 1,107.0 | $ 114.7 | $ 4.8 |
| Ratio of Expenses to Average Net Assets | 1.08%* | 1.18% | 1.17% | 1.22% | 1.32% | 1.70% | 2.50%(b)* |
| Ratio of Net Income (Loss) to Average Net Assets | 1.19%* | 1.13% | 1.27% | 1.19% | 0.94% | (0.24)% | (0.66)%(b)* |
| Portfolio Turnover Rate | 17.3% | 23.7% | 18.0% | 29.3% | 18.0% | 34.0% | 0.0% |
| Average Brokerage Commission Paid | $0.0537 | $0.0530 | n/a | n/a | n/a | n/a | n/a |
*Data has been annualized.
(a) From August 5, 1991, the date on which Fund shares were first offered for sale to the public.
(b) If the Fund had paid all of its expenses and there had been no reimbursement by the adviser, the annualized ratio of expenses to average net asset would have been 4.92% and the annualized ratio of net income (loss) to average net assets would have been (3.08%).
The Oakmark Select Fund |
| Eleven Months Ended September 30, 1997 | |
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| Net Asset Value, Beginning of Period | $ 10.00 |
| Income From Investment Operations: | |
| Net Investment Income (Loss) | (0.01) |
| Net Gains or Losses on Securities (both realized and unrealized) | 6.35 |
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| Total From Investment Operations | 6.34 |
| Less Distributions: | |
| Dividends (from net investment income) | 0.00 |
| Distributions (from capital gains) | 0.00 |
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| Total Distributions | 0.00 |
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| Net Asset Value, End of Period | $ 16.34 |
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| Total Return | 69.16%* |
| Ratios/Supplemental Data: | |
| Net Assets, End of Period ($million) | $ 514.17 |
| Ratio of Expenses to Average Net Assets | 1.12%* |
| Ratio of Net Income (Loss) to Average Net Assets | (0.11%)* |
| Portfolio Turnover Rate | 36.93% |
| Average Commission Rate Paid | $.0573 |
*Data has been annualized.
The Oakmark Small Cap Fund |
| Eleven Months Ended September 30, 1997 |
Year Ended October 31, 1996 | |
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| Net Asset Value, Beginning of Period | $ 13.19 | $ 10.00 |
| Income From Investment Operations: | ||
| Net Investment Income (Loss) | (0.01) | (0.02) |
| Net Gains or Losses on Securities (both realized and unrealized) | 7.16 | 3.21 |
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| Total From Investment Operations | 7.15 | 3.19 |
| Less Distributions: | ||
| Dividends (from net investment income) | 0.00 | 0.00 |
| Distributions (from capital gains) | 0.00 | 0.00 |
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| Total Distributions | 0.00 | 0.00 |
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| Net Asset Value, End of Period | $ 20.34 | $ 13.19 |
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| Total Return | 59.14%* | 31.94% |
| Ratios/Supplemental Data: | ||
| Net Assets, End of Period ($million) | $ 1,513.4 | $ 218.4 |
| Ratio of Expenses to Average Net Assets | 1.37%* | 1.61% |
| Ratio of Net Income (Loss) to Average Net Assets | (0.25%)* | (0.29%) |
| Portfolio Turnover Rate | 26.88% | 23.15% |
| Average Commission Rate Paid | $0.0482 | $0.0520 |
*Data has been annualized.
The Oakmark Equity and Income Fund |
| Eleven Months Ended September 30, 1997 |
Year Ended October 31, 1996 | |
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| Net Asset Value, Beginning of Period | $11.29 | $10.00 |
| Income From Investment Operations: | ||
| Net Investment Income (Loss) | 0.21 | 0.10 |
| Net Gains or Losses on Securities (both realized and unrealized) | 3.24 | 1.19 |
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| Total From Investment Operations | 3.45 | 1.29 |
| Less Distributions: | ||
| Dividends (from net investment income) | (0.12) | 0.00 |
| Distributions (from capital gains) | (0.13) | 0.00 |
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| Total Distributions | (0.25) | 0.00 |
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| Net Asset Value, End of Period | $14.49 | $11.29 |
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| Total Return | 34.01%* | 12.91% |
| Ratios/Supplemental Data: | ||
| Net Assets, End of Period ($million) | $33.46 | $13.8 |
| Ratio of Expenses to Average Net Assets (a) | 1.50%* | 2.50% |
| Ratio of Net Income (Loss) to Average Net Assets (a) | 2.38%* | 1.21% |
| Portfolio Turnover Rate | 52.82% | 66.35% |
| Average Commission Rate Paid | $0.0554 | $0.0581 |
*Data has been annualized.
(a) If the fund paid all of its expenses and there had been no expense reimbursement by the investment adviser, for the period ended September 30, 1997 and the year ended October 31, 1996, the ratios of expenses to average net assets would have been 1.70%* and 2.64% respectively, and the ratios of net income to average net assets would have been 2.18%* and 1.08% respectively.
The Oakmark International Fund |
| Eleven Months Ended September 30, 1997 |
Year Ended October 31,
|
Period Ended October 31, 1992(a) | ||||
| 1996 | 1995 | 1994 | 1993 | |||
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| Net Asset Value, Beginning of Period | $ 14.92 | $ 12.97 | $ 14.50 | $ 14.09 | $ 9.80 | $ 10.00 |
| Income From Investment Operations: | ||||||
| Net Investment Income (Loss) | 0.27 | 0.09 | 0.30 | 0.21 | 0.06 | 0.26 |
| Net Gains or Losses on Securities (both realized and unrealized) | 3.74 | 2.90 | (0.77) | 0.43 | 4.48 | (0.46) |
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| Total From Investment Operations | 4.01 | 2.99 | (0.47) | 0.64 | 4.54 | (0.20) |
| Less Distributions: | ||||||
| Dividends (from net investment income) | (0.16) | 0.00 | 0.00 | (0.08) | (0.25) | -- |
| Distributions (from capital gains) | 0.00 | (1.04) | (1.06) | (0.15) | -- | -- |
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| Total Distributions | (0.16) | (1.04) | (1.06) | (0.23) | (0.25) | -- |
| Net Asset Value, End of Period | $ 18.77 | $ 14.92 | $ 12.97 | $ 14.50 | $ 14.09 | $ 9.80 |
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| Total Return | 29.63%* | 24.90% | (3.06)% | 4.62% | 47.49% | (22.81%)* |
| Ratios/Supplemental Data: | ||||||
| Net Assets, End of Period ($ million) | $ 1,647.3 | $ 1,172.8 | $ 819.7 | $ 1,286.0 | $ 815.4 | $ 23.5 |
| Ratio of Expenses to Average Net Assets | 1.26%* | 1.32% | 1.40% | 1.37% | 1.26% | 2.04%* |
| Ratio of Net Income (Loss) to Average Net Assets | 2.09%* | 1.45% | 1.40% | 1.44% | 1.55% | 37.02%* |
| Portfolio Turnover Rate | 61.28% | 41.83% | 26.49% | 55.00% | 21.00% | 0% |
| Average Commission Rate Paid | $0.0052 | $0.0158 | n/a | n/a | n/a | n/a |
*Data has been annualized.
(a) From September 30, 1992, the date on which Fund shares were first offered for sale to the public.
The Oakmark International Small Cap Fund |
| Eleven Months Ended September 30, 1997 |
Year Ended October 31, 1996 | |
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| Net Asset Value, Beginning of Period | $ 11.41 | $ 10.00 |
| Income From Investment Operations: | ||
| Net Investment Income (Loss) | 0.13 | 0.04 |
| Net Gains or Losses on Securities (both realized and unrealized) | 1.10 | 1.37 |
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| Total From Investment Operations | 1.23 | 1.41 |
| Less Distributions: | ||
| Dividends (from net investment income) | (0.08) | 0.00 |
| Distributions (from capital gains) | (0.36) | 0.00 |
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| Total Distributions | (0.44) | 0.00 |
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| Net Asset Value, End of Period | $ 12.20 | $ 11.41 |
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| Total Return | 12.07%* | 14.15% |
| Ratios/Supplemental Data: | ||
| Net Assets, End of Period ($million) | $ 65.97 | $ 39.80 |
| Ratio of Expenses to Average Net Assets | 1.93%* | 2.50%(a) |
| Ratio of Net Income (Loss) to Average Net Assets | 1.23%* | 0.65%(a) |
| Portfolio Turnover Rate | 62.63% | 27.44% |
| Average Commission Rate Paid | $ 0.0025 | $ 0.0036 |
*Data has been annualized.
(a) If the fund had paid all of its expenses and there had been no expense reimbursement by the investment adviser, the ratio of expenses to average net assets would have been 2.65% and the ratio of net income to average net assets would have been .50%.
See accompanying notes to financial statements.