CHICAGO, March 21, 2014 /PRNewswire/ -- Harris Associates is pleased to announce that the Oakmark Funds have received two Lipper Fund Awards for consistently strong risk-adjusted performance relative to peers.
The Oakmark Family of Funds was named Lipper's Best Equity Large Fund Group, an award designed to recognize fund families with strong track records across all of their funds. Oakmark was ranked first out of 46 eligible fund groups due to the performance of all seven of its underlying funds. Lipper's Large Fund Group classification is comprised of fund managers with assets under management of $50.7 billion or more as of 11/30/13.
The Oakmark Global Fund won an award in Lipper's Global Multi-Cap Core Funds category for the 10-year period. The Oakmark Global Fund, managed by Clyde McGregor and Rob Taylor, follows Harris Associates' value-oriented process to find opportunities across the globe. The fund was recognized for its consistent, risk-adjusted performance over the long term.
"We are thrilled that Lipper has recognized the achievements of the Oakmark Funds," said Kristi L. Rowsell, President of Harris Associates and the Oakmark Funds. "We believe that our funds' award-winning performance is driven not only by our focused approach to long-term value investing, but also by the dedication of our seasoned team of investment professionals."
The Lipper Fund Awards are presented annually by Lipper, a mutual fund rating and research firm, to honor funds that it believes have excelled in providing superior performance relative to peers around the world. The awards are part of the broader Thomson Reuters Awards for Excellence program. More information about the Lipper Fund Awards is available at http://excellence.thomsonreuters.com/award/lipper.
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. All of the funds adhere to a long-term philosophy that focuses on capital preservation and risk management. The funds are advised by Harris Associates L.P., based in Chicago. The Oakmark Funds had $73 billion in assets under management as of December 31, 2013. More information about the Oakmark Funds is available at www.oakmark.com.
About Harris Associates L.P.
Harris Associates L.P., a Chicago-based investment management firm founded in 1976, manages US, international and global portfolios for institutional and high-net-worth investors worldwide and serves as the Adviser to the Oakmark Funds. Including Oakmark, assets under management at Harris Associates totaled approximately $118 billion as of December 31, 2013. More information about Harris Associates is available at www.harrisassoc.com.
SOURCE Harris Associates L.P.