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.