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The Oakmark Funds announces the addition of new co-portfolio managers to four of the Funds—the Oakmark Global Fund (OAKGX), the Oakmark Global Select Fund (OAKWX), the Oakmark International Fund (OAKIX) and the Oakmark International Small Cap Fund (OAKEX). These management changes are effective as of today.
I guess this is a bit of succession planning or at least giving the guys they think are really good an incentive to stay. But really, do you need 4 guys managing a fund with 20 equal weighted positions that in theory should be Herro and Nygren's best ideas? As long as the expense ratio doesn't go up I guess it doesn't really matter...
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