Veteran research analysts, Win Murray and Tony Coniaris of Harris Associates LP will join the portfolio management team of Oakmark Select I (MUTF:OAKLX), a non-diversified fund that invests in mid and large-cap U.S. equities. The fund has $3.2 billion assets under management.
Murray and Coniaris will work with Bill Nygren, the longtime portfolio manager of Oakmark Select I (MUTF:OAKLX), starting January 28. The Oakmark Funds established Oakmark Select Fund in 1996. And Nygren has served as a portfolio manager of the fund since its establishment. He co-managed the fund with Henry Berghoef until his retirement in July, last year.
In a statement, Nygren said the management team of Oakmark Select I (MUTF:OAKLX) has decided to employ talented professionals from Harris Associates, which serves as an adviser to The Oakmark Funds. He indicated that the two veteran research analysts are possible successors to his position. He said, “While I expect to be at Oakmark for many more years, we need to think about succession for the funds.”
Nygren further stated, “Win and Tony are both younger than I am, and bringing them in as co-managers now will ensure investment continuity for Select far into the future. They have both had successful careers at Harris Associates, so the investment role is nothing new to them, and they are both already up to speed on the Oakmark Select portfolio.”
Murray is a senior analyst and director of U.S equity research at Harris Associates. Prior to joining the firm in 2003, he worked as an equity analyst at Colonial Management and Federated Investors. He also served as a portfolio manager at ASB Capital Management. He graduated from the University of North Carolina and Georgia State University.
Coniaris started working for Harris Associates in 1999 as a research associate, before working his way to being a senior research analyst. He is a CFA holder and a graduate of Wheaton College and Northwestern University.
The Oakmark Funds is made up of seven value-oriented mutual funds with $45 billion assets under management, as of December 31. 2012. The firm invests in equity and fixed-income markets worldwide.
