David Herro on Bloomberg Radio

November 14, 2018

Portfolio Manager David Herro discusses consumer confidence, European stocks and valuation gaps with Bloomberg Radio.

 

 

 

Average Annual Total Returns as of 09/30/2018:

Fund QTD 1-Year 3-Year 5-Year 10-Year Inception
OAKIX -0.91% -6.33% 10.45% 4.03% 9.10% 9.71%
MSCI World Index ex US 1.31% 2.67% 9.32% 4.24% 5.18% 6.10%

Gross Expense Ratio (as of 09/30/2017): 1.00%
Net Expense Ratio (as of 09/30/2017): 0.95%
Fund Inception:  09/30/1992

Past performance is no guarantee of future results.The performance data quoted represents past performance. Current performance may be lower or higher than the performance data quoted. The investment return and principal value vary so that an investor’s shares when redeemed may be worth more or less than the original cost.

The specific securities identified and described in this report do not represent all the securities purchased, sold, or recommended to advisory clients. There is no assurance that any securities discussed herein will remain in an account’s portfolio at the time one receives this report or that securities sold have not been repurchased. It should not be assumed that any of the securities, transactions, or holdings discussed herein were or will prove to be profitable.

Portfolio holdings are not intended as recommendations of individual stocks and are subject to change. The Funds disclaim any obligation to advise shareholders of such changes. Information about portfolio holdings does not represent a recommendation or an endorsement to Fund shareholders or other members of the public to buy or sell any security contained in the Funds’ portfolios. Portfolio holdings are current to the date listed but are subject to change any time. There are no assurances that the securities will remain in the Funds’ portfolios after the date listed or that the securities that were previously sold may not be repurchased.

The holdings mentioned comprise the following percentages of the Oakmark International Fund’s total net assets as of 09/30/18: 

SECURITY Oakmark International Fund
BMW 3.2%
BNP Paribas 4.3%
Credit Suisse Group 3.2%
Daimler 4.4%
EXOR 2.2%
Fiat Chrysler  0.0%
Intesa Sanpaolo 3.7%
Lloyds Banking Group 4.0%

Portfolio holdings are subject to change without notice and are not intended as recommendations of individual stocks.

View the full list of Oakmark International Fund holdings as of the most recent quarter-end here.

ROE measures profitablity as a percentage of the money shareholders have invested.

The Oakmark International Fund’s portfolio tends to be invested in a relatively small number of stocks. As a result, the appreciation or depreciation of any one security held by the Fund will have a greater impact on the Fund’s net asset value than it would if the Fund invested in a larger number of securities. Although that strategy has the potential to generate attractive returns over time, it also increases the Fund’s volatility.

The MSCI World ex U.S. Index (Net) is a free float-adjusted, market capitalization-weighted index that is designed to measure international developed market equity performance, excluding the U.S. The index covers approximately 85% of the free float-adjusted market capitalization in each country. This benchmark calculates reinvested dividends net of withholding taxes. This index is unmanaged and investors cannot invest directly in this index.

Investing in foreign securities presents risks that in some ways may be greater than U.S. investments. Those risks include: currency fluctuation; different regulation, accounting standards, trading practices and levels of available information; generally higher transaction costs; and political risks.

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

The information, data, analyses, and opinions presented herein (including current investment themes, the portfolio managers’ research and investment process, and portfolio characteristics) are for informational purposes only and represent the investments and views of the portfolio managers and Harris Associates L.P. as of the date written and are subject to change.

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Before investing in any Oakmark Fund, you should carefully consider the Fund's investment objectives, risks, management fees and other expenses. This and other important information is contained in a Fund's prospectus and summary prospectus. Please read the prospectus and summary prospectus carefully before investing. For more information, please call 1-800-OAKMARK (625-6275). Harris Associates Securities L.P., Distributor.

Past performance is no guarantee of future results.

This site is intended for residents of the U.S. only. The information on the website does not constitute an offer for products or services, or a solicitation of an offer to any person outside of the United States who is prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence.

 

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