MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, March 21, 2000 Sanborn Leaves Oakmark Fund Helm Robert Sanborn will be replaced at the helm of Harris Associates' Oakmark Fund effective today, to be replaced by Bill Nygren and Kevin Grant.
Sanborn, the portfolio of the Oakmark Fund since its inception in 1991, has stayed with a deep value focus in a market with many value managers slowly drifting more into growth strategies, with his fund nearly dead-last among multi-cap value funds over the past five years, according to Lipper. As a result, he has spent a good portion of his time talking with the press, answering emails and in general addressing investors' concerns about the fund's poor performance. An industry insider characterized his recent management as "pounding the (value) table while no-one is listening -- he's fed-up with the short-term focus." Nygren, 43, who also manages the The Oakmark Select Fund, will co-manage with Grant, 35, previously a senior analyst who assisted Sanborn on The Oakmark Fund. Sanborn will remain with Harris to help manage the firm's separate accounts as well take a senior role in the firm's investment process of creating its "approved list," the list of companies which its portfolio managers can invest in. In addition co-managers will be named to The Oakmark Select Fund and The Oakmark Equity and Income Fund. Senior analyst Henry Berghoef joins Bill Nygren as co-manager of The Oakmark Select Fund. Investment analyst Edward Studzinski was named co-manager of The Oakmark Equity and Income Fund, teaming up with current portfolio manager Clyde McGregor. Printed from: MFWire.com/story.asp?s=25608 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |
