CHICAGO, Jan. 25, 2017 /PRNewswire/ -- Harris Associates is pleased to announce that David Herro has been named Morningstar's International Stock Fund Manager of the Year in the United States (2016) for Oakmark International.
David serves as the Chief Investment Officer of International Equities and portfolio manager of four Oakmark Funds: International, International Small Cap, Global and Global Select. He joined Harris Associates, adviser to the Oakmark Funds, in 1992. David's other awards from Morningstar include being named International-Stock Fund Manager of the Decade for the 2000-09 period and International-Stock Fund Manager of the Year in 2006, both for Oakmark International and Oakmark International Small Cap.
Established in 1988, the Morningstar Fund Manager of the Year award is designed to recognize portfolio managers who demonstrate excellent investment skill and the courage to differ from the consensus to benefit investors. According to Morningstar, to qualify for the award, managers' funds must have not only posted impressive returns for the year, but the managers also must have a record of delivering outstanding long-term risk-adjusted performance and of aligning their interests with shareholders'.
"We are delighted that David's outstanding contributions have been acknowledged by Morningstar," said Kristi Rowsell, president of the Oakmark Funds. "Our investment team works tirelessly for our shareholders, and we are proud to have that effort recognized."
Oakmark's investment philosophy is centered on the belief that superior, long-term results are achieved through investing as owners in quality companies that can be purchased at a significant discount to their true economic value. The Oakmark International Fund seeks capital appreciation by investing in larger capitalization companies located outside of the U.S. The Oakmark International Small Cap Fund seeks capital appreciation by investing in small capitalization companies located outside of the U.S. The Oakmark Global Fund invests primarily in a diversified portfolio of common stocks of U.S. and non-U.S. companies across the market-cap spectrum. Finally, the Oakmark Global Select Fund seeks capital appreciation by investing in a concentrated portfolio of mid and large capitalization companies from around the world.
ABOUT OAKMARK AND HARRIS ASSOCIATES
The Oakmark Funds are a $70 billion mutual fund family (as of December 31, 2016) that utilizes a long-term value investment approach. Oakmark's investment philosophy centers on the belief that superior long-term results are achieved through investing in companies priced at a significant discount to their true economic value, with strong growth prospects and owner-oriented management teams. More information about the Oakmark Funds is available at www.Oakmark.com.
Harris Associates L.P., a Chicago-based investment management firm founded in 1976, serves as the adviser to the Oakmark Funds. Harris Associates also manages domestic, international and global portfolios for institutional and high-net-worth investors worldwide. Including Oakmark, assets under management at Harris Associates totaled $109 billion as of December 31, 2016. More information about Harris Associates is available at www.HarrisAssoc.com.
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SOURCE Harris Associates