The Oakmark Funds are advised by Harris Associates L.P. an autonomous subsidiary of Natixis Investment Managers, L.P.
Learn more about the principles and philosophy behind our funds at HarrisAssoc.com.
The Oakmark Funds are advised by Harris Associates L.P. an autonomous subsidiary of Natixis Investment Managers, L.P.
Learn more about the principles and philosophy behind our funds at HarrisAssoc.com.
Oakmark Bond invests primarily in a diversified portfolio of bonds and other fixed-income securities.
Expense ratios are from the Fund’s most recent prospectus dated January 28, 2024, as amended and restated July 1, 2024; actual expenses may vary.
Returns for periods of less than one year are not annualized.
The Fund’s Adviser has contractually undertaken to waive and/or reimburse certain fees and expenses so that the total annual operating expenses of each class are limited to 0.74%, 0.54%, 0.52% and 0.44% of average net assets, respectively. Each of these undertakings lasts until 01/27/2025 and may only be modified by mutual agreement of the parties.
The Fund is recently established and has limited operating and performance history.
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. Total return includes change in share prices and, in each case, includes reinvestment of dividends and capital gain distributions. 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 Oakmark Bond Fund invests primarily in a diversified portfolio of bonds and other fixed-income securities. These include, but are not limited to, investment grade corporate bonds; U.S. or non-U.S.-government and government-related obligations (such as, U.S. treasury securities); below investment-grade corporate bonds; agency mortgage backed-securities; commercial mortgage- and asset-backed securities; senior loans (such as, leveraged loans, bank loans, covenant lite loans, and/or floating rate loans); assignments; restricted securities (e.g., Rule 144A securities); and other fixed and floating rate instruments. The Fund may invest up to 20% of its assets in equity securities, such as common stocks and preferred stocks. The Fund may also hold cash or short-term debt securities from time to time and for temporary defensive purposes.
Under normal market conditions, the Fund invests at least 25% of its assets in investment-grade fixed-income securities and may invest up to 35% of its assets in below investment-grade fixed-income securities (commonly known as “high-yield” or “junk bonds”).
Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments.
Bond values fluctuate in price so the value of your investment can go down depending on market conditions.
The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid ARM pass-throughs), asset-backed securities and commercial mortgage-backed securities (agency and non-agency). This index is unmanaged and investors cannot invest directly in this index.
As of 09/30/2024
Beta vs. Benchmark
The Beta shown is for the Investor Share Class. Beta is a measure of the magnitude of a portfolio's past share-price fluctuations in relation to the ups and downs of the overall market (or appropriate market index). The market, or index, is assigned a beta of 1.00. A portfolio with a beta of greater than 1 would generally see its share price rise or fall by more than the market, while a portfolio with a beta of less than 1 would have less share price volatility than the market. For Oakmark Equity and Income Fund, beta is measured against the S&P 500 Index. The beta presented is since the inception of each Fund with the exception of The Oakmark International Small Cap Fund, which shows 10-year beta versus the benchmark.
0.895
Standard Deviation
The Standard Deviation shown is for the Investor Share Class. Standard Deviation is a measure of the degree to which a fund's return varies from its previous returns, or from the average of all similar funds. The larger the standard deviation, the greater the likelihood (and risk) that a security's performance will fluctuate from the average return. The standard deviation presented is since the inception of the Fund.
6.19%
30-Day Unsubsidized SEC Yield
Reflects the 30-day yield if the investment advisor were not waiving all or part of its fee or reimbursing the fund for part of its expenses. Total return would have also been lower in the absence of these temporary reimbursements or waivers.
4.59%
30-Day Subsidized SEC Yield
4.68%
Distribution Yield
4.2%
Duration
Duration is a measure of the sensitivity of bond prices or a bond portfolio to interest rate movements. Stated in years, duration is a weighted measure of the length of time the bond will pay out. Investors use duration to measure the volatility of the bond or a bond portfolio. The shorter the duration (and the less time an investor needs to wait to receive the bond's payments), the less the bond's price will rise or fall in value when interest rates change.
For example, a 3-year duration means a bond will decrease in value by 3% if interest rates rise one percent, or increase in value by 3% if interest rates fall one percent. Duration is affected by maturity, the bond's coupon, and the time interval between payments.
5.63
As of 10/31/2024
Total % in Top 10 Holdings 29.9%
Total # of Holdings 125
Assets Under Mgmt. $181.38M
Total % in Top 10 Holdings 29.9%
Total # of Holdings 125
Assets Under Mgmt. $181.38M
Portfolio holdings are subject to change and are not intended as recommendations of individual stocks. Individual security weights may not add to the displayed total due to rounding.
Portfolio holdings are subject to change and are not intended as recommendations of individual stocks. Individual security weights may not add to the displayed total due to rounding. The most recently quarterly holdings file, which contains all investments, can be found in the latest fund report.
As of 09/30/2024
Total % in Top 10 Issuers 45.3%
Portfolio holdings are subject to change and are not intended as recommendations of individual securities.
As of 09/30/2024
As of 09/30/2024
As of 09/30/2024
Commentary
See All CommentaryOakmark Bond Fund: Third Calendar Quarter 2024
Fund returns were driven by credit selection and asset allocation. We think fixed income market focus will shift from...
Read Commentary