Oakmark, T. Rowe Price Reopen Funds

Posted by Sun on May 13, 2008
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The Oakmark Funds reopened its Global Fund (OAKGX) on May 9, 2008. The fund, which has been closed to new investors since December 2003, invests in both domestic and foreign markets, holding 42.6% of its assets in U.S. stocks and and the rest in developed and emerging economies outside the country. According to Morningstar.com, OAKGX has an expense ratio (ER) of 1.18% and yield 0.14%. The fund’s 3-year annualized return is 13.70% and 5-year 18.28%. To invest in this fund, a $1,000 initial investment is required. That amount, however, is reduced to $500 if automatic investment plan is used.

T. Rowe Price recently also announced that its Small-Cap Value Fund (PRSVX) reopened to new investors on May 1, 2008. The fund had some great runs in the early part of this decade and was closed in May 2002. PRSVX mainly invests in small companies with market capital within or below those in the Russell 2000 index. Morningstar data shows that PRSVX has a 3-year return 10.83%, 5-year 15.13%, and 10-year 9.58%.

The minimum initial investment of PRSVX is $1,000, which will be waived if an automatic investment plan with at least $50 a month is set up at the time when an account is opened. PRSVX’s ER is 0.81%, which is quite low for a small-cap fund. The fund also has a yield of 0.69%.

I have owned PRSVX since April 2002, shortly before it was closed and currently I invest $100 into the fund every month.

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