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Fund Times

Oakmark International Announces Soft Close

Greg Carlson

On Jan. 26, 2018, Oakmark International (OAKIX) closed to most new third-party investors to help preserve its flexibility. The fund will remain open to existing shareholders and all investors who buy shares directly through Oakmark, retirement plans, and certain fee-based programs.

The move to limit availability comes after the fund took in a net $9.7 billion from investors in 2017. That influx, combined with appreciation from 2017's rally, recently pushed the fund's asset base over $48 billion, and lead manager David Herro runs more than $7 billion in the strategy outside of the fund. The fund previously closed in a similar manner from October 2013 to July 2016 to stem the tide of inflows. It retains its Morningstar Analyst Rating of Gold.