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.

Harris Associates

111 South Wacker Drive, Suite 4600
Chicago, Illinois 60606
312-646-3600

OAYCX

Fund

Oakmark Bond

Inception Date

06/10/2020

Cusip

413838640

Share Class Total Net Assets

$2.38 M

Daily Nav

$10.25

(11/29/2021)

Nav Change

0.02

Nav YTD %

0.35%

Objective

Current income and total return

Oakmark Bond invests primarily in a diversified portfolio of bonds and other fixed-income securities.

Portfolio Managers

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Oakmark Bond

Adam Abbas and Colin Hudson discuss the Oakmark Bond Fund

Commentary

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Oakmark Bond Fund: Third Quarter 2021

At Oakmark, we look for market prices that have fully detached from their underlying worth. Yet, when we look...

Performance Returns

  • Returns % as of 10/31/2021
  • Returns % as of 09/30/2021
Gross Expense Ratio: 2.30%
Net Expense Ratio: 0.64%
Fund Inception: 06/10/2020

Expense ratios are based on estimated amounts for the current fiscal year; 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 0.64%, 0.59%, and 0.44% of average net assets, respectively. Each of these undertakings lasts until 1/27/2022 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 Barclays 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.

Portfolio Characteristics

As of 09/30/2021

Beta vs. Benchmark

0.663

Standard Deviation

2.41%

30-Day Unsubsidized SEC Yield

1.07%

30-Day Subsidized SEC Yield

1.22%

Distribution Yield

1.39%

Duration

4.66

Top 10 Holdings

As of 09/30/2021

Total % in Top 10 Holdings 41.4%

Total # of Holdings 80

Assets Under Mgmt. $96.89M

 

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.

Top 10 Issuers

As of 09/30/2021

Total % in Top 10 Issuers 52.0%

 

Holdings data is preliminary as of 03/31/2021 and is subject to revision. Portfolio holdings are subject to change and are not intended as recommendations of individual securities.

Fixed Income Sector Breakdowns

As of 09/30/2021

Asset Allocations

As of 09/30/2021

Credit Rating

As of 09/30/2021

Rating
Percent of Fixed Income
AA
42.3%
A
5.1%
BBB
28.4%
BB
17.1%
B
6.1%
Not Rated
1.0%

Maturity

As of 09/30/2021

Maturity
Percent of Fixed Income
1 - 3 Years
9.4%
3 - 5 Years
14.1%
5 - 7 Years
32.5%
7 - 10 Years
26.8%
10 + Years
9.9%
Under 1 Year
7.3%

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