Harris Associates L.P. Announces Portfolio Manager Change for the Oakmark International Small Cap Fund

Jun 24, 2009, 16:52 ET from Harris Associates L.P.

CHICAGO, June 24 /PRNewswire/ -- Chad Clark, co-portfolio manager of the Oakmark International Small Cap Fund, has stepped down as co-manager of the Fund and is leaving Harris Associates L.P. today. David Herro, founding portfolio manager of the Fund, will remain portfolio manager. Other members of Harris Associates' International investment team will assume Chad's research responsibilities.

"It has been a great experience working with Chad throughout the years. He has been a valued contributor to our success and will be missed," says David Herro, Portfolio Manager and Chief Investment Officer of International Equities. "We continue to see great opportunities in today's markets and are fortunate to have a strong, deep and talented investment team dedicated to meeting the high expectations of our investors."

The Oakmark International Small Cap Fund's investment philosophy is centered in 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 Small Cap Fund seeks capital appreciation by investing in small capitalization companies located outside of the U.S.

For more information about the Oakmark International Small Cap Fund, please visit oakmark.com. Prospective investors can purchase shares directly from Oakmark by visiting oakmark.com or through numerous financial intermediaries' mutual fund platforms.


David Herro is Portfolio Manager of the Oakmark International Fund, the Oakmark International Small Cap Fund, and the Oakmark Global Select Fund. He is also Harris Associates' Chief Investment Officer of International Equities. David has been managing international portfolios since 1986, previously serving as portfolio manager for The State of Wisconsin Investment Board and The Principal Financial Group. David, who joined Harris Associates in 1992, 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-three years of investment experience and is a CFA charterholder.


The Oakmark Funds are a $23 billion mutual fund family that utilizes a long-term value investment approach. Harris Associates L.P., a Chicago-based investment management firm founded in 1976, serves as the Adviser to The Oakmark Funds and manages domestic, international and global portfolios for institutional and high net worth investors worldwide. The Oakmark Funds are distributed by Harris Associates Securities L.P., member FINRA. For more information including management fees and expenses and the special risks of investing, visit oakmark.com or call 1-800-OAKMARK for a prospectus. An investor should consider a fund's investment objectives, risks, and charges and expenses carefully before investing. This and other information are contained in the prospectus.

SOURCE Harris Associates L.P.