CHICAGO, August 1, 2022 /PRNewswire/ — Harris Associates LP, advisor to the Oakmark Funds and an affiliate of Natixis Investment Managers, has announced portfolio manager changes for Oakmark Equity and Income Fund, Oakmark Global Fund, Oakmark Global Select Fund, Oakmark Fund and Oakmark Select Fund.
Effective December 31, 2023, Clyde McGregor will transfer portfolio management duties and exit Oakmark Equity and Income Fund and Oakmark Global Fund. Mr. McGregor will remain with Harris Associates as an investment leader and portfolio manager in the firm’s private wealth management business.
As part of Mr. McGregor’s upcoming portfolio transfer, Harris Associates is pleased to announce the appointment of the following individuals to the roles of joint portfolio manager for Oakmark Funds, effective August 12022
Michael Nicholas and Alex Fitch will join Clyde McGregor, Colin Hudson and Adam Abbas as co-portfolio managers of Oakmark Equity and Income Fund. Mr. Nicolas joined Harris Associates in 2013. He has been Co-Portfolio Manager of the Oakmark Fund since 2020. Mr. Fitch joined Harris Associates in 2011 and is Director of US Research.
Colin Hudson and John Sitartz will be appointed co-portfolio managers of Oakmark Global Fund with David Hero, Tony Koniaris, Clyde McGregor and Jason Long. Mr. Hudson joined Harris Associates in 2005. He has been co-portfolio manager of the Oakmark Bond Fund since 2020 and the Oakmark Equity and Income Fund since 2013, and has served on the institutional global and global concentrated strategy teams since 2012. He is also Co-Head of Fixed Income at Harris Associates. Mr. Sitartz joined Harris Associates in 2013 and worked as a research analyst in the US.
“Firstly, I would like to thank Clyde for his enormous contribution to the Oakmark funds,” said Tony Koniaris, chairman and portfolio manager. “Good succession planning requires a plan and a thorough bench. In this case, Harris Associates and Oakmark Funds have the luxury of both. We believe these management additions strengthen our team and best position our clients for success in the next decade and beyond. “
Harris Associates is also pleased to announce the following management appointments: Colin Hudson and John Sitartz will be appointed co-portfolio managers of the Oakmark Global Select Fund with David Hero, Bill Nygren, Tony Koniaris and Eric Liu.
Robert Birrig will be added as co-portfolio manager to Oakmark Fund with Bill Nygren and Michael Nicholas. Mr. Birig joined Harris Associates in 2012 and is a portfolio manager for several of Harris Associates’ investment strategies.
Robert Birrig and Alex Fitch together will become co-portfolio managers of the Oakmark Select Fund Bill Nygren and Tony Koniaris.
“Oakmark Funds’ strong performance is primarily due to the strength of our teams – and these additions make the teams stronger than ever,” said Bill Nygren, Chief Investment Officer – US Equities and Portfolio Manager. “These individuals, as researchers, have contributed to our success for years, and we expect that their skills will continue to benefit our shareholders for many years to come.”
The new appointments better align portfolio management teams across the business. To this end, Bill Nygren will transfer its global portfolio management responsibilities to focus on local portfolios. As a result, he will retire from the Oakmark Global Select Fund, effective at the end of 2023. Mr. Nygren will continue to serve as Chief Investment Officer – US Equities and co-portfolio manager of the Oakmark Fund and Oakmark Select Fund.
Tony Koniaris will ensure continuity of global portfolios together David Hero and the global team. Mr. Koniaris will remain co-portfolio manager of the Oakmark Global Fund and the Oakmark Global Select Fund. In light of these responsibilities, he will retire from the Oakmark Select fund at the end of 2023.
FOR OAKMARK AND HARRIS ASSOCIATES
Oakmark Funds are a family of mutual funds that take a long-term investment approach. Oakmark’s investment philosophy is based on the belief that superior long-term results can be achieved by investing in companies at a significant discount to what Harris Associates believes to be the company’s intrinsic value, with strong growth prospects and owner-oriented management teams . Oakmark Funds’ assets under management are approx 50 billion dollars to June 30, 2022. More information about Oakmark funds can be found at oakmark.com.
Harris Associates LP, a Chicagobased investment management firm founded in 1976 serves as advisor to Oakmark Funds. Harris Associates also manages US, international and global portfolios for institutional and high net worth investors worldwide. Including Oakmark, Harris Associates’ assets under management total approx 99 billion dollars to June 30, 2022. More information about Harris Associates can be found at harrisassoc.com.
Before investing in an Oakmark Fund, you should carefully consider the Fund’s investment objectives, risks, management fees and other costs. This and other important information is contained in the fund’s prospectus and short prospectus. Please read the prospectus and summary prospectus carefully before investing. For more information, please call 1-800-OAKMARK (625-6275).
FOR NATIXIS INVESTMENT MANAGERS
Natixis Investment Managers’ multi-partner approach connects clients with the independent thinking and focused expertise of more than 20 active managers. Ranked among the world’s largest asset managers1 with more than 1.3 trillion dollars assets under management2 (€1.2 trillion), Natixis Investment Managers provides a diverse range of solutions across asset classes, styles and funds, including innovative environmental, social and governance (ESG) strategies and products dedicated to advancing sustainable finance. The firm partners with clients to understand their unique needs and provide insights and investment solutions aligned with their long-term goals.
Headquarters in Paris and BostonNatixis Investment Managers is part of the global financial services division of Groupe BPCE, the second largest banking group in France through the commercial networks of Banque Populaire and Caisse d’Epargne. Affiliated investment management firms of Natixis Investment Managers include AEW; AlphaSimplex Group; DNCA Investments;3 Dorval Asset Management; Flexstone Partners; Gateway Investment Advisors; Harris Associates; Investors Mutual Limited; Loomis, Sayles & Company; Mirova; MV credit; Naxicap Partners; Osiam; Ostrum Asset Management; Seeyond; Seventure Partners; Thematic asset management; Vauban Infrastructure Partners; Vaughan Nelson Investment Management; and WCM Investment Management. Additionally, investment solutions are offered through Natixis Investment Managers Solutions and Natixis Advisors, LLC. Not all offers are available in all jurisdictions. For additional information, please visit the Natixis Investment Managers website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers.
Natixis Investment Managers’ distribution and servicing groups include Natixis Distribution, LLC, a limited-purpose broker-dealer and distributor of various US-registered investment companies for which advisory services are provided by Natixis Investment Managers’ subsidiaries, Natixis Investment Managers SA (Luxembourg), Natixis Investment Managers International (France), and their related distribution and service entities in Europe and Asia.
1 Cerulli Quantitative Update: Global Markets 2021 ranks Natixis Investment Managers as the 15th largest asset manager in the world based on assets under management as of December 31, 2020.
2 Assets under management (“AUM”) of current affiliates valued at March 31, 2022 are $1,320.6 billion (€1187.6 billion). AUM, as reported, may include contingent assets, assets served, gross assets, assets of minority-owned subsidiaries and other types of non-regulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers.
3 Brand of DNCA Finance.
SOURCE Harris Associates LP