New Co-Managers for Oakmark Equity and Income Fund
Three analysts at Harris Associates will join founding manager Clyde McGregor
CHICAGO, April 18, 2013 /PRNewswire/ -- Three research analysts at Harris Associates L.P., adviser to The Oakmark Funds, have been appointed co-managers of the Oakmark Equity and Income Fund (OAKBX).
M. Colin Hudson, Edward J. Wojciechowski and Matthew A. Logan will join current portfolio manager Clyde S. McGregor on the management team of Oakmark Equity and Income, the largest of the seven mutual funds in the Oakmark family and one of the largest funds in the United States.
Mr. McGregor has been at the helm of Oakmark Equity and Income since its inception in 1995. He co-managed the fund with Edward A. Studzinski from 2000 until Mr. Studzinski's retirement in January 2012.
"I have spent the past 15 months attempting to discern how best to position the Fund for its long-term future," Mr. McGregor says. "I have come to believe that a team approach is the best answer.
"My three new co-managers bring diversity of skill set, past experience and even age to this team. The four of us are already collaborating closely. The fact that three such strong candidates are readily available to join me on the Equity and Income Fund testifies to the depth of our investment team."
Mr. Hudson, 43, joined Harris Associates in 2005 after working as director of research at Hilliard Lyons Asset Management and as an investment analyst at Wallington Asset Management. He is a graduate of DePauw University and Indiana University, and is a CFA charterholder.
Mr. Wojciechowski, 40, is the director of fixed income at Harris Associates, which he joined in 2005. He previously worked as a portfolio manager and fixed-income analyst at Strong Capital Management. He is a graduate of Marquette University and is a CFA charterholder.
Mr. Logan, 29, also a CFA charterholder, joined Harris Associates in 2006 as a research associate after earning his bachelor's degree from Babson College. He became an investment analyst in 2009.
The Oakmark Equity and Income Fund, created in 1995, seeks income and preservation and growth of capital. The fund is primarily made up of U.S. equity and fixed-income securities. Assets under management totaled $18.9 billion as of March 31, 2013.
About The Oakmark Funds
The Oakmark Funds are a family of seven value-oriented mutual funds that invest in equity and fixed-income markets around the world while adhering to a long-term philosophy focusing on capital preservation and risk management. The funds are advised by Harris Associates L.P., based in Chicago. The Oakmark Funds had $50.5 billion in assets under management as of March 31, 2013.
About Harris Associates L.P.
Harris Associates L.P., based in Chicago since 1976, is a value-oriented investment management company serving individuals, families, institutions and The Oakmark Funds. The firm adheres to a long-term philosophy focusing on capital preservation and risk management. Harris Associates had $83.5 billion in assets under management as of March 31, 2013.
SOURCE Harris Associates L.P.
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