CHICAGO, Jan. 28, 2020 /PRNewswire/ -- Michael Nicolas, an investment analyst at Harris Associates L.P., adviser to the Oakmark Funds and an affiliate of Natixis Investment Managers, has been appointed co-manager of the Oakmark Fund.
Mr. Nicolas will join current portfolio managers Bill Nygren and Kevin Grant on the management team effective January 28, 2020. Mr. Nygren and Mr. Grant have managed the Fund since 2000.
"I've really enjoyed working with Mike over the past seven years and am thrilled to be working even more closely with him as a part of the Oakmark management team," says Mr. Nygren.
"Mike will be a valuable addition to the Fund. He has contributed significantly to the investment team and he will be an important asset to the portfolio as he takes on more responsibility," says Mr. Grant.
Mr. Nicolas, 40, joined Harris Associates in 2013 after serving as a managing director at Lakeview Investment Group and a senior analyst at Stratford Advisory Group. He is a graduate of the University of Wisconsin-Madison and is a CFA charterholder.
The Oakmark Fund, incepted in 1991, is a diversified fund that seeks long-term capital appreciation by generally investing in larger capitalization U.S. companies. The Fund's assets were $16.8 billion as of December 31, 2019.
ABOUT OAKMARK AND HARRIS ASSOCIATES
The Oakmark Funds are a $71.6 billion mutual fund family that utilizes a long-term value investment approach. Oakmark's investment philosophy centers on the belief that superior long-term results can be achieved through investing in companies priced at a significant discount to what Harris believes is a company's intrinsic value, with strong growth prospects and owner-oriented management teams. More information about the Oakmark Fund and other funds in the Oakmark family is available at oakmark.com.
Harris Associates L.P., a Chicago-based investment management firm founded in 1976, serves as the adviser to the Oakmark Funds. Harris Associates also manages U.S., international and global portfolios for institutional and high-net-worth investors worldwide. Including Oakmark, assets under management at Harris Associates totaled approximately $120 billion as of December 31, 2019. More information about Harris Associates is available at harrisassoc.com.
Before investing in any Oakmark Fund, you should carefully consider the Fund's investment objectives, risks, management fees and other expenses. This and other important information is contained in a Fund's prospectus and summary prospectus. Please read the prospectus and summary prospectus carefully before investing. For more information, please call 1-800-OAKMARK (625-6275).
ABOUT NATIXIS INVESTMENT MANAGERS
Natixis Investment Managers serves financial professionals with more insightful ways to construct portfolios. Powered by the expertise of more than 20 specialized investment managers globally, we apply Active Thinking® to deliver proactive solutions that help clients pursue better outcomes in all markets. Natixis Investment Managers ranks among the world's largest asset management firms1 with more than $1 trillion assets under management2 (€921.5 billion).
1 Cerulli Quantitative Update: Global Markets 2019 ranked Natixis Investment Managers as the 17th largest asset manager in the world based on assets under management as of December 31, 2018.
2 Net asset value as of September 30, 2019 is $1,004.5 billion. Assets under management ("AUM"), as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of non-regulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers.
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SOURCE Harris Associates L.P.