will liquidate its $350 million Small Cap Fund, officials announced
Shareholders of the fund can transfer into other Oakmark funds or redeem their shares. Shares redeemed after August 5 will not be subject to redemption fees.
Officials will complete liquidating the fund by late September.
We are committed to delivering superior investment…[w]e haven't been able to accomplish this goal in the Small Cap Fund…therefore…we have concluded that it is in the best interests of Fund shareholders to liquidate the Fund," said John Raitt
, president of The Oakmark Funds and chief executive officer of Harris Associates.
Chicago-based Harris Associates
is the adviser to the Oakmark Small Cap Fund.
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