Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
SUPPLEMENT DATED JULY 16, 2003 TO PROSPECTUS OF THE OAKMARK FAMILY OF FUNDS DATED JANUARY 29, 2003
THE OAKMARK SMALL CAP FUND - NEW CO-MANAGER Edward A. Studzinski, C.F.A., has become co-manager of The Oakmark Small Cap Fund with James P. Benson. Mr. Studzinski has replaced Clyde S. McGregor. Mr. McGregor continues to manage The Oakmark Equity and Income Fund with Mr. Studzinski. Mr. Studzinski joined the Adviser as an analyst in 1995. Previously, Mr. Studzinski was Vice President and Investment Officer at Mercantile National Bank of Indiana. He holds an M.B.A. in Marketing and Finance from Northwestern University (1985), a J.D. from Duke University (1974), and an A.B. in History from Boston College (1971).
THE OAKMARK FAMILY OF FUNDS - NEW ADDRESS Effective June 1, 2003, the address for The Oakmark Family of Funds has changed to:
FOR MAIL: FOR EXPRESS DELIVERY OR COURIER: The Oakmark Funds The Oakmark Funds P.O. Box 219558 330 West 9th Street Kansas City, MO 64121-9558 Kansas City, MO 64105-1514
Supplement dated August 4, 2004 to the Prospectus of The Oakmark Family of Funds dated January 31, 2004
LIQUIDATION OF THE OAKMARK SMALL CAP FUND
On August 4, 2004, the board of trustees of Harris Associates Investment Trust, upon the recommendation of Harris Associates L.P. (the "Adviser"), approved a plan to liquidate and terminate The Oakmark Small Cap Fund (the "Fund"). The liquidation is expected to occur on or about September 28, 2004 (the "Liquidation Date").
As of August 4, 2004, a substantial majority of the Fund's total assets consisted of cash or cash equivalents, and the balance of the portfolio is expected to be in cash or cash equivalents before the Liquidation Date. During this liquidation period, the Adviser has agreed to waive its management fees payable by the Fund.
The Fund has not accepted any purchases of Fund shares since August 2nd and will not accept any purchases of Fund shares through the Liquidation Date. However, at any time prior to the Liquidation Date, you may redeem shares of the Fund pursuant to the procedures set forth in the prospectus. Beginning August 5, 2004, the Fund will waive the 2% redemption fee on shares held for 90 days or less.
You may also exchange your shares of the Fund for shares of any other fund in The Oakmark Family of Funds. No redemption fee will be imposed on such an exchange transaction.
Shareholders of taxable accounts in the Fund who do not exchange or redeem their shares prior to the Liquidation Date will have the proceeds of their account sent to them when the liquidation occurs. The proceeds will be the net asset value of such shares in the shareholder's account after provision for charges, taxes, expenses and liabilities.
Absent an instruction to the contrary received by the Oakmark Funds prior to the Liquidation Date, shares held in an individual retirement account ("IRA"), SIMPLE IRA, or Coverdell Education Savings Account or in custodial accounts under a SEP or SARSEP, or in certain other retirement plan accounts will be exchanged on the Liquidation Date for Oakmark Units of the Government Portfolio, a money market fund.
OAKEX hasn't been especially stellar. I get worried with shops like Oakmark and D&C start opening up funds quickly (Oakmark has the Instl Bond Fund). I fully expect D&C to have a global allocation fund in a couple of years.
Royce & Friends will surpass them all, however. Even after losing the Opportunity Fund kids to First Eagle's own AUM-grab.
I agree that their performance has lagged of recently. Value has improved from prior years of late and it may be time to look at it again.
I used to own the Oakmark Small Cap Fund until it was liquidated. D&C does have its Global Fund, but they may look may start something else in several years. The most recent D&C fund to open, prior to the Emerging Markets Fund, was the Global Bond Fund in 2015. I always wanted D&C to open a small cap fund, but somehow I doubt they will.
Comments
https://www.sec.gov/Archives/edgar/data/0000872323/000104746903024284/a2112100z497.txt
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SUPPLEMENT DATED JULY 16, 2003
TO PROSPECTUS OF THE OAKMARK FAMILY OF FUNDS DATED JANUARY 29, 2003
THE OAKMARK SMALL CAP FUND - NEW CO-MANAGER
Edward A. Studzinski, C.F.A., has become co-manager of The Oakmark Small Cap
Fund with James P. Benson. Mr. Studzinski has replaced Clyde S. McGregor. Mr.
McGregor continues to manage The Oakmark Equity and Income Fund with Mr.
Studzinski. Mr. Studzinski joined the Adviser as an analyst in 1995. Previously,
Mr. Studzinski was Vice President and Investment Officer at Mercantile National
Bank of Indiana. He holds an M.B.A. in Marketing and Finance from Northwestern
University (1985), a J.D. from Duke University (1974), and an A.B. in History
from Boston College (1971).
THE OAKMARK FAMILY OF FUNDS - NEW ADDRESS
Effective June 1, 2003, the address for The Oakmark Family of Funds has changed
to:
FOR MAIL: FOR EXPRESS DELIVERY OR COURIER:
The Oakmark Funds The Oakmark Funds
P.O. Box 219558 330 West 9th Street
Kansas City, MO 64121-9558 Kansas City, MO 64105-1514
SUPPJULY03
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Here is when the fund was liquidated:
https://www.sec.gov/Archives/edgar/data/0000872323/000104746904025313/a2141447z497.txt
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a2141447z497.txt
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HARRIS ASSOCIATES INVESTMENT TRUST
Supplement dated August 4, 2004
to the Prospectus of The Oakmark Family of Funds dated January 31, 2004
LIQUIDATION OF THE OAKMARK SMALL CAP FUND
On August 4, 2004, the board of trustees of Harris Associates Investment
Trust, upon the recommendation of Harris Associates L.P. (the "Adviser"),
approved a plan to liquidate and terminate The Oakmark Small Cap Fund (the
"Fund"). The liquidation is expected to occur on or about September 28, 2004
(the "Liquidation Date").
As of August 4, 2004, a substantial majority of the Fund's total assets
consisted of cash or cash equivalents, and the balance of the portfolio is
expected to be in cash or cash equivalents before the Liquidation Date. During
this liquidation period, the Adviser has agreed to waive its management fees
payable by the Fund.
The Fund has not accepted any purchases of Fund shares since August 2nd and
will not accept any purchases of Fund shares through the Liquidation Date.
However, at any time prior to the Liquidation Date, you may redeem shares of the
Fund pursuant to the procedures set forth in the prospectus. Beginning August 5,
2004, the Fund will waive the 2% redemption fee on shares held for 90 days or
less.
You may also exchange your shares of the Fund for shares of any other fund
in The Oakmark Family of Funds. No redemption fee will be imposed on such an
exchange transaction.
Shareholders of taxable accounts in the Fund who do not exchange or redeem
their shares prior to the Liquidation Date will have the proceeds of their
account sent to them when the liquidation occurs. The proceeds will be the net
asset value of such shares in the shareholder's account after provision for
charges, taxes, expenses and liabilities.
Absent an instruction to the contrary received by the Oakmark Funds
prior to the Liquidation Date, shares held in an individual retirement
account ("IRA"), SIMPLE IRA, or Coverdell Education Savings Account or in
custodial accounts under a SEP or SARSEP, or in certain other retirement plan
accounts will be exchanged on the Liquidation Date for Oakmark Units of the
Government Portfolio, a money market fund.
HASSUP 804
https://www.sec.gov/Archives/edgar/data/872323/0000950131-95-003567.txt
Royce & Friends will surpass them all, however. Even after losing the Opportunity Fund kids to First Eagle's own AUM-grab.
I used to own the Oakmark Small Cap Fund until it was liquidated. D&C does have its Global Fund, but they may look may start something else in several years. The most recent D&C fund to open, prior to the Emerging Markets Fund, was the Global Bond Fund in 2015. I always wanted D&C to open a small cap fund, but somehow I doubt they will.
10/1/21 filing:
https://www.sec.gov/ix?doc=/Archives/edgar/data/872323/000110465921121961/tm2128425-1_485bposseq1.htm