Three research analysts at Harris Associates, adviser to The Oakmark Funds, have been appointed co-managers of the Oakmark Equity and Income Fund (OAKBX).
M. Colin Hudson, Edward Wojciechowski and Matthew Logan will join current portfolio manager Clyde McGregor on the management team of Oakmark Equity and Income, the largest of the seven mutual funds in the Oakmark.
McGregor has been at the helm of Oakmark Equity and Income since its inception in 1995 and co-managed the fund with Edward Studzinski from 2000 until Mr. Studzinski's retirement in January 2012.
"I have spent the past 15 months attempting to discern how best to position the Fund for its long-term future," stated McGregor. "I have come to believe that a team approach is the best answer.
The Oakmark Equity and Income Fund, which launched in 1995, bets on U.S. equity and fixed-income securities. Assets under management totaled $18.9 billion as of March 31.
The Oakmark Funds had $50.5 billion in assets under management as of March 31.