Eric Liu, co-portfolio manager of the Oakmark International and Oakmark Global Select Funds and a senior investment analyst at Harris Associates L.P., adviser to the Oakmark Funds and an affiliate of Natixis Investment Managers, has been appointed co-portfolio manager of the Oakmark Global Fund.
Mr. Liu will join portfolio managers Tony Coniaris, David Herro, Colin Hudson and John Sitarz on the management team effective today. Eric also co-manages the Global, Global Concentrated, International and Japan institutional strategies at Harris Associates L.P.
“Given Eric’s talent and experience, we welcome him on the Oakmark Global management team,” said Mr. Herro. “Moreover, Eric’s competitive drive and investment prowess are good examples of our international team’s depth.”
Mr. Liu joined Harris Associates in 2009 after serving as a research associate at Dodge & Cox and an investment banking analyst at Jefferies & Company. He is a graduate of the University of California Los Angeles and the University of Chicago and is a CFA charterholder.1
In addition, Jason Long, co-portfolio manager of the Oakmark Global Fund and a senior investment analyst at Harris Associates L.P. will retire effective September 1, 2024.
Jason Long has been a co-portfolio manager of the Oakmark Global Fund since 2016. He will transition portfolio management responsibilities effective immediately and transition research responsibilities over the next several weeks.
“On behalf of the entire investment team, I would like to thank Jason for all his contributions in managing the Oakmark Global Fund. We wish him well as he enters the next chapter of his life,” said Mr. Herro.
Mr. Long re-joined Harris Associates in 2011. Prior to re-joining, Jason held research positions at Security Global Investors and Carmel Capital Partners. Jason was an analyst at Harris Associates from 2004-2006. Prior to joining Harris in 2004, Jason was an analyst at Brandes Investment Partners. He is a graduate of San Diego State University and is a CFA charterholder.1
The Oakmark Global Fund is a diversified fund that seeks capital appreciation by investing in mid- and large-capitalization companies around the world. The Fund’s assets were $1.2 billion as of March 31, 2024.
ABOUT OAKMARK AND HARRIS ASSOCIATES
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 can be achieved through investing in companies priced at a significant discount to what Harris Associates believes is a company’s intrinsic value, with strong growth prospects and owner-oriented management teams. The Oakmark Funds’ assets under management totaled approximately $59 billion as of March 31, 2024. More information about the Oakmark Funds is available at 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 $108 billion as of March 31, 2024. More information about Harris Associates is available at harrisassoc.com.
The Oakmark Funds are distributed by Harris Associates Securities L.P. Member FINRA. 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).
1CFA® and Chartered Financial Analyst® are registered trademarks owned by the CFA Institute.
The 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.
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.
