Kristi Rowsell named President of The Oakmark Funds

CHICAGO, July 21 /PRNewswire/ -- Harris Associates L.P., investment adviser to The Oakmark Funds, announced today that Kristi Rowsell has been elected President and Trustee of The Oakmark Funds.

Rowsell, 43, is President and Chief Financial Officer of Harris Associates.  She has served as the Chief Financial Officer of Harris Associates and The Oakmark Funds for the past 11 years. Kristi has been with Harris Associates since 1995.

Completing a transition that began earlier in the year, Rowsell will succeed John Raitt who was most recently President and CEO of Harris Associates L.P., and who continues to serve as a senior U.S. investment analyst of Harris Associates.

"I am personally pleased to have Kristi named President. She brings high integrity, great skills, and a wealth of knowledge and experience.  She will serve our shareholders well.  This change also allows me to shift my focus and devote 100% of my energies to what I enjoy most – generating investment ideas for our clients," said John Raitt.

Biographies

Kristi Rowsell, Partner, President and Chief Financial Officer, joined Harris Associates in 1995 and has twenty-one years of business experience.  Previously, she was VP and Treasurer at Calamos Asset Management and a Senior Tax Specialist at KPMG Peat Marwick. Kristi earned a B.S. (1988) and M.A. (1989) from Virginia Tech and is a Certified Public Accountant.

John Raitt, Partner and U.S. Investment Analyst, joined Harris Associates in 1986 and has thirty years of investment experience.  He recently served as President and CEO of Harris Associates after serving as the U.S. Director of Research.  Previously, he was an Investment Officer with Northwestern Mutual Life Insurance Company. John earned a B.A. from Williams College (1978), an M.B.A. from Northwestern University (1980), and is a CFA charterholder.

About The Oakmark Funds and Harris Associates L.P.

The Oakmark Funds are a $30 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.

Investing in value stocks presents the risk that value stocks may fall out of favor with investors and underperform growth stocks during given periods.

Harris Associates Securities L.P., Distributor, Member FINRA.

SOURCE Harris Associates L.P.