The location of a company's headquarters doesn't tell the whole story.
Its doors have reopened and a manager is leaving, but the key leader remains in charge.
With Bill Nygren and David Herro at the helm, Silver-rated Oakmark Global Select has bested more than 90% of its peers on both a total return and risk-adjusted basis.
European multinationals are still some of the cheapest companies in the global universe today, says the Oakmark International manager.
Although not as cheap as it was, the stock market's valuation today isn't much different than long-term historical averages and is more attractive than competing investments like bonds and cash, says Oakmark's Bill Nygren.
Topnotch Medalist funds with concentrated portfolios and low turnover.
If you believe success in today's stock market demands selectivity, these fund managers have proven they can deliver, says Morningstar's director of personal finance.
The fund's plain-vanilla focus on company fundamentals allows it to uncover value in any kind of stock and has contributed to its long-term outperformance, says Morningstar's Shannon Zimmerman.
The Oakmark manager notes how a long-term view, with strict buying and selling discipline and preparedness for short-term weakness, has allowed his international fund to beat its peers.
Unless a fragile market triggers outflows, the Oakmark International fund is likely to remain closed to retain its flexibility and concentrated portfolio, says manager David Herro.