The Oakmark Equity and Income Fund (OAKBX) reopened to all investors effective today.

The fund is advised by Harris Associates and has been closed to most financial intermediaries since May 2010.

The fund invests in a diversified portfolio of equity and fixed-income securities and is managed by Clyde McGregor. It sports an expense ratio of 77 basis points.

"We see many opportunities in equities," stated McGregor. "By reopening, we hope to better balance daily cash flows and also accommodate the many long-term investors who fundamentally believe in Oakmark's value-investment approach, but have been restricted from buying shares in the fund."

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