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Oakmark to Re-open International Funds

Posted by Sun on December 24, 2007
Post viewed 754 times, 2 so far today

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Investors will soon be able to invest in Oakmark’s two international funds again.

I received an email from Oakmark Fund yesterday which announces that two previously closed international funds, International Fund I (OAKIX) and International Small Cap Fund (OAKEX) will re-open to new investors on January 2, 2008.

Both funds are managed by David Herro, who was named Morningstar’s 2006 Manager of The Year International. According to Morningstar, the reason for the re-opening of the two funds, which has been closed since 2003 and 2002, respectively, is “Herro’s strict value style caused both funds to struggle mightily relative to peers in 2007.” Year-to-date, OAKIX has a mere return of 1.7% while another popular international fund, Dodge & Cox International Fund (DODFX) gained 12.4% so far. And with an expense ratio of 1.10%, OAKIX is much more expensive to own than DODFX OAKEX’s 2007 return is a -5.7%, though the fund has very impressive performance from 2003 to 2006.

I own DODFX and am very happy with its performance. Better yet, the fund is still open.

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