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Fund Times

Fund Times: Openings, Closings & Manager Changes

Oakmark, Wasatch, Buffalo, T. Rowe Price, and others.

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Nygren Connects with AOL
Bill Nygren, who has spurned most bellwether technology stocks in his tenure at Oakmark Select (OAKLX) and Oakmark (OAKMX) funds, recently bought shares in the world's largest Internet service provider.

In a recent letter to shareholders of the Oakmark fund, Nygren, Morningstar's 2001 Domestic-Stock Fund Manager of the Year, said AOL Time Warner (AOL), which has crashed nearly 90% from its Internet boom heights, has finally fallen to the point where "reasonable returns now appear much more achievable."

Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.