CHICAGO, Oct. 2 /PRNewswire/ -- Harris Associates L.P., the Chicago-based investment adviser of The Oakmark Funds, opened The Oakmark Global Select Fund today. Designed for long-term capital appreciation, The Oakmark Global Select Fund is a non-diversified fund that will own approximately 20 large companies from around the world. The Fund will be managed using the same value-oriented investment approach that is the hallmark of The Oakmark Funds. "We believe big, high quality businesses from around the world are now attractively priced and believe a concentrated fund is the best way to capitalize on this opportunity," say Bill Nygren and David Herro, co-portfolio managers. The Oakmark Global Select Fund will be co-managed by Bill Nygren, who currently serves as co-manager of The Oakmark and Oakmark Select Funds, and David Herro who currently serves as manager to The Oakmark International Fund and co-manager of The Oakmark International Small Cap Fund. Bill joined Harris Associates as an Investment Analyst in 1983 and served as the firm's Director of Research from 1990 through March 1998. Bill was named Morningstar's Domestic Stock Manager of the Year for 2001. He has an M.S. in Finance from the University of Wisconsin-Madison Applied Security Analysis Program (1981) and a B.S. in Accounting from the University of Minnesota (1980). He has over twenty-five years of investment experience and is a CFA charterholder(R). David joined Harris Associates in 1992 and is the Chief Investment Officer of International Equities. David has been managing international portfolios since 1986, previously managing an international portfolio for The State of Wisconsin Investment Board. He also served as a Portfolio Manager for international equity portfolios with The Principal Financial Group of Des Moines, Iowa. David has an M.A. in Economics from the University of Wisconsin- Milwaukee (1985) and a B.S. in Business/Economics from the University of Wisconsin-Platteville (1983). He has over twenty-one years of investment experience and is a CFA charterholder(R). Investing in value stocks presents the risk that value stocks may fall out of favor with investors and underperform growth stocks during given periods. Because The Oakmark Global Select Fund is non-diversified, the performance of each holding will have a greater impact on the Fund's total return, and may make the Fund's returns more volatile than a more diversified fund. For a prospectus and more complete information, including management fees and expenses and the special risks of investing, please call 1-800-OAKMARK or visit http://oakmark.com . Read it carefully before investing. An investor should consider a fund's investment objectives, risks, and charges and expenses carefully before investing. This and other information about the funds are contained in the fund's prospectus. Harris Associates Securities L.P., Distributor, Member NASD. October 2006.
SOURCE Harris Associates L.P.