The Oakmark Global and International Small Cap Funds To Slow Inflows

CHICAGO, Oct. 7, 2014 /PRNewswire/ -- Harris Associates L.P., adviser to the Oakmark Funds, announced today that the Oakmark Global Fund (OAKGX) and the Oakmark International Small Cap Fund (OAKEX) will close to new investors at most third-party intermediaries effective October 10, 2014.

This change will only affect new investors; existing shareholders of the funds may continue to purchase additional shares. Both of the funds will remain open to all retirement plans and certain intermediary sponsored fee-based programs. Investors may also open new accounts by purchasing shares directly from Oakmark.

"We do not want our funds to be limited by capacity constraints," said David Herro, Chief Investment Officer of International Equities. "This decision allows us to maintain our flexible approach to portfolio construction."

"Our goal is to maintain the integrity of our investment process for our shareholders," said Kristi Rowsell, President of the Oakmark Funds. "We view monitoring capacity as our fiduciary responsibility."

ABOUT THE OAKMARK GLOBAL AND INTERNATIONAL SMALL CAP FUNDS
Oakmark Global, which started in 1999, is a diversified portfolio invested in companies across all market capitalizations and countries. Like all of the Oakmark Funds, it uses a disciplined, fundamental value investment approach. Oakmark Global was up 0.63% year-to-date through September 30, and returned 6.70% for the 1-year period ending September 30, 2014, 11.45% annually for the 5-year period, 9.27%  annually for the 10-year period, and 11.24%  annually since its inception on August 4, 1999. Oakmark Global had total assets of approximately $4 billion as of September 30, 2014.

Oakmark International Small Cap, which started in 1995, is a diversified portfolio invested in small-capitalization international companies. It uses a disciplined, fundamental value investment approach. Oakmark International Small Cap was down -5.21% year-to-date through September 30, and returned -2.14% for the 1-year period ending September 30, 2014, 8.80% annually for the 5-year period, 8.45% annually for the 10-year period, and 10.10% annually since its inception on November 1, 1995. Oakmark International Small Cap had total assets of approximately $3 billion as of September 30, 2014.

ABOUT OAKMARK AND HARRIS ASSOCIATES L.P.
With approximately $82 billion in assets under management as of September 30, 2014, the Oakmark Funds are a mutual fund family that utilizes a long-term value investment approach. 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 Funds 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 U.S., international and global portfolios for institutional and high-net-worth investors worldwide. Including Oakmark, assets under management at Harris Associates totaled approximately $130 billion as of September 30, 2014. More information about Harris Associates is available at www.harrisassoc.com.

SOURCE Harris Associates L.P.