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,
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
SOURCE Harris Associates L.P.