Oakmark Global Select IOAKWX

Morningstar Rating

Fund Research and Analysis

by John Coumarianos

Oakmark Global Select's rocky start and quick recovery likely foretell its future.

This fund will work well with other funds in an experienced investor's portfolio. Run by former Morningstar Fund Managers of the Year, Bill Nygren and David Herro, this fund is a concentrated, sometimes volatile, brew of their best ideas. Read more

Kudos

Experienced managers who invest a lot of their own money in the funds they run.

Long-term value-oriented business owners' approach makes sense and has worked at other funds.

Advisor has a strong stewardship profile. Read more

Risks

Harris' bottom-up style usually leads to returns that won't move in step with benchmarks' or peers'.

Concentrated profile, regarding sector exposures as well as individual names, can exacerbate the above.

Fund started out rather pricey, though expenses have declined to a more acceptable level. Read more

Strategy

This fund's portfolio, like other Oakmark funds, is home to stocks of firms with cheap valuations, growing business values, and executives whose incentives are aligned with shareholders'. The fund will invest at least two fifths of its assets in U. Read more

Management

Two former Morningstar Fund Managers of the Year call the shots here. Bill Nygren, who also runs Oakmark Fund OAKMX and Select OAKLX won the domestic-stock award in 2001. David Herro, Harris Associates' International Equity Chief Investment Officer, who also helms International OAKIX and International Small Cap OAKEX, took home top international-stock honors in 2006. Read more

Inside Scoop

Fans of a high-conviction, value-oriented, global stock-pickers fund should give this fund a look. Two former Managers of the Year call the shots for its focused portfolio. Read more

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