Oakmark is the mutual fund family launched in 1991 by Harris Associates, the Chicago deep-value firm founded in 1976 (about $105bn AUM). Bill Nygren runs the flagship Oakmark Fund and David Herro the Oakmark International Fund, buying businesses at large discounts to intrinsic value and holding them like owners — publishing quarterly fund commentaries, market commentaries and insight articles.
This report covers the Oakmark International Fund's performance through early 2019. The key takeaway: over the long term (since 1992), the fund has averaged a solid 9.14% annual return. But in the past year, it lost 14.13% due to a global stock market dip in 2018. Recently, it bounced back 9% in just three months. For regular investors, this shows why it's smart to focus on long-term gains rather than panicking over short-term losses. Also, watch out for fees—here they're about 1% yearly, which adds up over time. Worth a read for a clear example of how patience pays off in investing.
The Oakmark International Fund (Investor Class) reported average annualized total returns as of March 31, 2019: since inception on September 30, 1992, 9.14%; 10-year, 11.83%; 5-year, 1.08%; 1-year, -14.13%; and 3-month, 9.04%. In terms of expenses, as of September 30, 2018, the gross expense ratio w
This section focuses on the performance and fee structure of the Oakmark International Fund (Investor Class) as of March 31, 2019. By presenting annualized total returns across different time horizons, the report reveals that the fund has demonstrated steady long-term performance (since its inception in 1992), but has experienced significant losses in the near term (1-year) due to market volatility.
The author's core investment argument is that the fund's long-term returns are attractive (9.14% annualized since inception), but its short-term (1-year) performance has been severely pressured (-14.13%), reflecting the sharp correction in international equity markets in 2018. Counterintuitively, despite the notable 1-year loss, the 3-month return has rebounded to 9.04%, suggesting that the market may have partially recovered.
| Time Horizon | Annualized Total Return |
|---|---|
| Since Inception (1992/09/30) | 9.14% |
| 10-Year | 11.83% |
| 5-Year | 1.08% |
| 1-Year | -14.13% |
| 3-Month | 9.04% |
This section only covers the Oakmark International Fund (Investor Class) itself and does not mention any specific portfolio holdings or assets. The fund is an international equity fund investing in non-U.S. markets.