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Herro Excludes Most New Clients From Fund After $10 Billion Haul: (OAKIX)
FYI: (This is a follow-up article to Shadow's link about Oakmark's International Fund closure to new investors.)
David Herro’s popular mutual fund will close to most new investors after attracting $9.7 billion in new cash last year.
The $48.7 billion Oakmark International Fund will close immediately to new investors who buy funds through brokers and advisers. Existing shareholders and participants in retirement plans will still be able to contribute and new accounts can be purchased directly from Harris Associates LP, the Chicago-based firm said in a statement Friday. Regards, Ted https://www.bloomberg.com/news/articles/2018-01-26/herro-closes-fund-to-most-new-clients-after-10-billion-haul
Comments
Also not sure how much longer Herro will be at this game; but Harris Associates seems to have a pretty deep bench and a sound process.