The Oakmark Funds announced that Mindy M. Posoff has been elected chair of the Board of Trustees of the Harris Associates Investment Trust and the Harris Oakmark ETF Trust (the “Oakmark Funds”). Ms. Posoff, an Oakmark Funds independent trustee since 2016, succeeds Thomas Hayden. Mr. Hayden has been the chair since 2021 and will remain an independent trustee.
Mr. Hayden commented on the election of Ms. Posoff, “We are pleased to elect Mindy as chair of the Oakmark Funds Board, and we look forward to benefitting from her deep experience and leadership on behalf of the Funds and their shareholders.”
“Mindy brings deep industry expertise, steady leadership, and an unrelenting commitment to ensuring actions are taken in the best interests of our Oakmark Fund shareholders. Operating from a thoughtful transition plan put in place by a highly cohesive group of trustees, Mindy exemplifies the integrity and advocacy that are hallmarks of prior Oakmark Funds board chairs,” said President of the Oakmark Funds Rana Wright. Wright also said, “We extend our deepest gratitude to Tom for his steadfast dedication during his tenure as chair, and we are thrilled to continue to benefit from his wisdom and experience as he transitions back to his role as an independent trustee.”
In her role as chair, Ms. Posoff will serve as the lead, independent trustee charged with managing the oversight of the Oakmark Funds in protecting the interests of their shareholders.
Ms. Posoff is a managing director of Golden Seeds and a founding partner and president of Traversent Capital Partners. She is also a trustee and vice chair of the Community College of Philadelphia, a member of the Board of Directors of the Mutual Fund Directors Forum, and a member of the Board of Directors of Ben Franklin Technology Partners of Southeastern Pennsylvania. In addition, she previously served as a trustee on the HighMark Mutual Funds Board and was a member of the Impact Advisory Committee of Apollo Global Management. She has a B.A. in philosophy and Greek civilization from Beloit College and an M.B.A. in finance from the Wharton School of the University of Pennsylvania.
This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her financial professionals.
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 and may change based on market and other conditions and without notice. This content is not a recommendation of or an offer to buy or sell a security and is not warranted to be correct, complete or accurate.
Certain comments herein are based on current expectations and are considered “forward-looking statements.” These forward-looking statements reflect assumptions and analyses made by the portfolio managers and Harris Associates L.P. based on their experience and perception of historical trends, current conditions, expected future developments, and other factors they believe are relevant. Actual future results are subject to a number of investment and other risks and may prove to be different from expectations. Readers are cautioned not to place undue reliance on the forward-looking statements.
Investing in value stocks presents the risk that value stocks may fall out of favor with investors and underperform growth stocks during given periods.
