Oakmark Equity and Income Fund Reopened to All Investors

Aug 01, 2012, 11:31 ET from Harris Associates L.P.

CHICAGO, Aug. 1, 2012 /PRNewswire/ -- The Oakmark Equity and Income Fund (OAKBX) reopened to all investors effective today. The Fund is advised by Harris Associates L.P., which announced the reopening.

The Oakmark Equity and Income Fund had been closed to most financial intermediaries since May 2010. Existing shareholders, all retirement plans and direct investors have been able to purchase shares of the Fund during this period.

"We see many opportunities in equities," says Clyde McGregor, manager of the Fund. "By reopening, we hope to better balance daily cash flows and also accommodate the many long-term investors who fundamentally believe in Oakmark's value-investment approach, but have been restricted from buying shares in the Fund."

The Oakmark Equity and Income Fund invests in a diversified portfolio of equity and fixed-income securities. The Fund is intended to present a balance between growth and income by investing between 40% and 75% of its total assets in common stock (including convertible securities) and up to 60% of its assets in U.S. government and investment-grade debt securities. The Fund may invest up to 20% of its assets in lower-rated or unrated debt. 


The Oakmark Funds, with $40 billion in assets under management as of June 30, 2012, are long-term value investors. Oakmark's investment philosophy centers on the belief that superior long-term results are achieved through investing in companies priced at a significant discount to their true economic value, with strong growth prospects and owner-oriented management teams. More information about the Oakmark Equity and Income Fund and other funds in the Oakmark family is available at www.oakmark.com.

Harris Associates L.P., a Chicago-based investment management firm founded in 1976, serves as the Adviser to The Oakmark Funds. Harris Associates also manages domestic, international and global portfolios for institutional and high-net-worth investors worldwide. Including Oakmark, assets under management at Harris Associates totaled $70 billion as of June 30, 2012. More information about Harris Associates is available at www.harrisassoc.com.

SOURCE Harris Associates L.P.