News & Insights from Oakmark

News & Insights

Oakmark International Fund Reopens

December 17, 2018

Harris Associates, adviser to the Oakmark Funds and an affiliate of Natixis Investment Managers, announced that the Oakmark International Fund will reopen to all investors, effective immediately.  
 
The Fund had been closed to new investors at certain third-party intermediaries since January 2018. The Fund had remained open to all retirement plans and specific intermediary sponsored fee-based programs. Investors were also able to register new accounts by purchasing shares directly from Oakmark. 
 
“We are pleased to reopen Oakmark International given the attractive investment opportunities we see in global equity markets,” said David Herro, portfolio manager of the Oakmark International Fund. “We remain focused on generating positive medium- and long-term investment returns.”
 
The $43.2 billion Oakmark International Fund invests in a diversified portfolio of common stocks of non-U.S. companies. The Fund generally focuses on mid- and large-cap companies. Since inception in 1992, the Oakmark International Fund has returned 9.71% versus the MSCI World ex U.S. index return of 6.10%.
 
The Fund is managed by David Herro, chief investment officer of international equities, and Mike Manelli. Herro has been a manager of the Fund since inception and is also a manager of the Oakmark International Small Cap Fund, the Oakmark Global Fund and the Oakmark Global Select Fund. His career honors include being named Morningstar’s International Stock Fund Manager of the Year in 2006, International Stock Fund Manager of the Decade for 2000-2009 and International Stock Fund Manager of the Year in 2016. Manelli has been a manager of the Oakmark International Fund since 2016. In addition, he is a manager of the Oakmark International Small Cap Fund. 

 

 

 

 

 

Average Annual Total Returns (as of 09/30/2018)

Fund QTD 1-Year 3-Year 5-Year 10-Year Inception
OAKIX -0.91% -6.33% 10.45% 4.03% 9.10% 9.71%
MSCI World Index ex US 1.31% 2.67% 9.32% 4.24% 5.18% 6.10%

Gross Expense Ratio (as of 09/30/2017): 1.00%
Net Expense Ratio (as of 09/30/2017): 0.95%
Fund Inception:  09/30/1992

Past performance is no guarantee of future results. The performance data quoted represents past performance. Current performance may be lower or higher than the performance data quoted. The investment return and principal value vary so that an investor’s shares when redeemed may be worth more or less than the original cost.

The MSCI World ex U.S. Index (Net) is a free float-adjusted, market capitalization-weighted index that is designed to measure international developed market equity performance, excluding the U.S. The index covers approximately 85% of the free float-adjusted market capitalization in each country. This benchmark calculates reinvested dividends net of withholding taxes. This index is unmanaged and investors cannot invest directly in this index.

According to Morningstar, the Morningstar Manager of the Year award is presented to portfolio managers based on the managers' (i) "ability to generate exceptional returns;" (ii) "willingness to align their interests with shareholders;" and (iii) "courage to stay with their strategies in order to produce superior risk-adjusted returns in the end."

According to Morningstar, the Fund Manager of the Decade award, which is a new award from Morningstar, recognizes fund managers who have achieved superior risk-adjusted results over the past 10 years and have an established record of serving shareholders well. While the awards focus on performance over the past decade, Morningstar takes into consideration other factors, including the fund manager’s strategy, approach to risk, size of the fund, and stewardship. Both individual fund managers and management teams are eligible, and being a previous winner of the Morningstar Fund Manager of the Year award isn’t a prerequisite. Morningstar’s fund analysts select the Fund Manager of the Decade award winners based on Morningstar’s proprietary research and in-depth evaluation.

Investing in value stocks presents the risk that value stocks may fall out of favor with investors and underperform growth stocks during given periods.

The Fund’s portfolio tends to be invested in a relatively small number of stocks. As a result, the appreciation or depreciation of any one security held by the Fund will have a greater impact on the Fund’s net asset value than it would if the Fund invested in a larger number of securities. Although that strategy has the potential to generate attractive returns over time, it also increases the Fund’s volatility.

Investing in foreign securities presents risks that in some ways may be greater than U.S. investments. Those risks include: currency fluctuation; different regulation, accounting standards, trading practices and levels of available information; generally higher transaction costs; and political risks.

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CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standards and Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service.  The CUSIP Database, © 2011 American Bankers Association.  “CUSIP” is a registered trademark of the American Bankers Association.

Investing in value stocks presents the risk that value stocks may fall out of favor with investors and underperform growth stocks during given periods.

Before investing in any Oakmark Fund, you should carefully consider the Fund's investment objectives, risks, management fees and other expenses. This and other important information is contained in a Fund's prospectus and summary prospectus. Please read the prospectus and summary prospectus carefully before investing. For more information, please call 1-800-OAKMARK (625-6275).

OAKMARK, OAKMARK FUNDS, OAKMARK INTERNATIONAL, and OAKMARK and tree design are trademarks owned or registered by Harris Associates L.P. in the U.S. and/or other countries.

Copyright 2019, Harris Associates Securities L.P., Distributor, Member FINRA.
Date of first use: January 24, 2013.

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