Oakmark's stated philosophy is to invest in value, which is also the strategy of this publication. In terms of size, Oakmark is perhaps the smallest family of mutual funds reviewed to date, with an offering of only seven funds.
Oakmark Family of Mutual Funds
As mentioned, Oakmark's philosophy is one of value investing. This means the managers at Oakmark believe they are assembling mutual funds consisting of companies the market has been ignoring. That also means the kinds of companies found in the Oakmark family of mutual funds are those that should offer the investor long term value. Everyone that's not interested in market timing and short-term plays will want these types of funds in their investment portfolio.
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The process Oakmark goes through in selecting securities is worth mentioning. They first take the entire "universe" of stocks and apply a series of investment screens. Next, they apply their value standards against the companies passing the initial screen. At the end of the screening process, they wind up with around 125 to 150 securities that are now eligible for consideration by their fund managers.
In addition to standard mutual fund investing, Oakmark gives investors the ability to consolidate and apply for Roth IRA accounts as well as Traditional IRAs as investment accounts for their mutual funds. They also have a relationship with Harris Associates, which provides investment advice to wealthy individuals and institutional investors.
Fee Structures and Returns
Morningstar ratings indicate the expense ratios for funds at Oakmark are Average for both their domestic (0.90%) and international (1.14%) stock funds. The focus at Oakmark is clearly stocks, with over 80% of assets invested in domestic stock and international securities. (October 2019)
The minimum investment for Oakmark mutual funds is $1,000, and 100% of their offerings are no-load mutual funds. As of October 2019, the average return for an Oakmark mutual fund over the last five years was 3.17%.
Top Rated Funds at Oakmark
When looking at Oakmark, one thing really stands out. All three of their top rated funds are strong performers. Keep in mind they only have seven funds, so to see good performance in these three funds tells us that their strategy of focusing on value is paying off. With that introduction, here are the top three performing mutual funds from Oakmark.
Oakmark Equity and Income Investor (OAKBX)
Assets: $11.7 billion
Category: Large Blend
Specialty: None
Top Three Holdings: General Motors, Bank of America, TE Connectivity
Load: None
Minimum Investment: $1,000
Expense Ratio: 0.78%
5-Year Average Return: 5.69%
Oakmark International Small Cap Investor (OAKEX)
Assets: $1.5 billion
Category: US Fund Foreign Small / Mid Blend
Specialty: None
Top Three Holdings: Konecranes Oyj, ulius Baer Gruppe AG, BNK Financial Group Inc
Load: None
Minimum Investment: $1,000
Expense Ratio: 1.36%
5-Year Average Return: 4.98%
Oakmark International Investor (OAKIX)
Assets: $31.8 billion
Category: Large Value
Specialty: Foreign Value
Top Three Holdings: BNP Paribas, Bayer AG, Intesa Sanpaolo
Load: None
Minimum Investment: $1,000
Expense Ratio: 0.96%
5-Year Average Return: 4.70%
About the Author - Oakmark Mutual Funds
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