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Data through August 31, 2016 FINRA members: For internal or institutional use only.
Oakmark Global I Ticker
OAKGX
Yield
1.2%
Total Assets
$2,417 mil
Mstar Category
World Stock
Benchmark 1: MSCI ACWI NR USD
Benchmark 2: MSCI ACWI Ex USA NR USD
Morningstar Analyst Rating 08-11-16
Œ
Morningstar Pillars
Process ∞ Positive
Performance ∞ Positive
People ∞ Positive
Parent ∞ Positive
Price ¶ Neutral
Morningstar Analyst Rating
Morningstar evaluates mutual funds based on five key pillars, which its
analysts believe lead to funds that are more likely to outperform over the
long term on a risk-adjusted basis.
Analyst Rating Spectrum
Œ „ ´ ‰ Á
Pillar Spectrum
∞ Positive § Negative ¶ Neutral
10.0
12.5
15.0
17.5
20.0
7.5
Historical Profile
Return
Risk
Rating
Average
High
QQQ
Neutral
4 7 4 4 4 4 4 1 Investment Style
Equity
Growth of $10,000
Investment Values of
Fund
Investment Values of
Benchmark 1
& ( * & * ( & & * ( ) Performance Quartile
(within Category)
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 08-16 History
25.28 24.10 14.01 19.50 22.48 19.86 23.48 30.15 29.17 27.11 26.41 NAV
24.18 7.33 -38.78 40.19 15.74 -11.65 20.16 34.12 3.70 -4.38 -2.58 Total Return %
3.22 -4.34 3.41 5.57 3.07 -4.31 4.03 11.32 -0.47 -2.02 -8.53 +/- Bmark 1
-2.48 -9.33 6.75 -1.26 4.59 2.05 3.33 18.83 7.56 1.28 -7.12 +/- Bmark 2
1.34 0.15 2.91 0.99 0.45 0.00 1.87 3.21 1.17 1.06 0.00 Income Return %
22.84 7.18 -41.69 39.21 15.29 -11.65 18.29 30.91 2.52 -5.44 -2.58 Capital Return %
14 69 28 25 29 74 20 11 38 74 98 Total Rtn % Rank Cat
0.31 0.04 0.70 0.14 0.09 0.00 0.37 0.75 0.35 0.31 0.00 Income $
3.54 3.04 0.03 0.00 0.00 0.00 0.00 0.55 1.74 0.47 0.00 Capital Gains $
1.18 1.13 1.16 1.23 1.15 1.16 1.16 1.13 1.11 1.12 1.15 Expense Ratio %
1.18 0.66 0.95 0.76 0.53 0.70 0.91 0.75 0.76 0.86 0.12 Income Ratio %
41 35 41 32 37 29 26 45 31 36 . Turnover Rate %
2,548 2,826 1,346 1,766 2,330 1,987 2,115 3,235 3,513 3,020 2,391 Net Assets $mil
Performance 08-31-16
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Total
2012 15.76 -8.00 2.27 10.32 20.16
2013 8.43 4.75 11.36 6.03 34.12
2014 1.69 3.42 -4.32 3.05 3.70
2015 2.13 -0.87 -10.77 5.85 -4.38
2016 -7.27 -3.66 — — —
Trailing Total
Return%
+/- Bmark
1
+/- Bmark
2
%Rank
Cat
Growth of
$10,000
3 Mo 2.80 -1.23 -1.19 62 10,280
6 Mo 13.59 0.06 0.13 27 11,359
1 Yr -1.16 -8.40 -4.08 95 9,884
3 Yr Avg 3.15 -3.59 1.11 89 10,974
5 Yr Avg 8.57 0.25 5.26 50 15,088
10 Yr Avg 5.05 0.65 3.01 40 16,372
15 Yr Avg 9.14 3.39 3.46 3 37,138
Tax Analysis Tax Adj Rtn% %Rank Cat Tax-Cost Rat %Rank Cat
3 Yr (estimated) 1.74 84 1.36 54
5 Yr (estimated) 7.56 43 0.93 50
10 Yr (estimated) 3.90 46 1.10 69
Potential Capital Gain Exposure: 12% of assets
Rating and Risk
Time
Period
Load-Adj
Return %
Morningstar
Rtn vs Cat
Morningstar
Risk vs Cat
Morningstar
Risk-Adj Rating
1 Yr -1.16
3 Yr 3.15 -Avg High Q
5 Yr 8.57 Avg High QQQ
10 Yr 5.05 Avg +Avg QQQ
Incept 9.66
Other Measures Standard Index Best Fit Index
Alpha 1.3 -4.4
Beta 1.01 1.19
R-Squared 79 86
Standard Deviation 15.01
Mean 3.15
Sharpe Ratio 0.27
Portfolio Analysis 06-30-16
Total Stocks: 35
Share change since 03-31-16 Sector Country % Assets
YCNH Industrial NV Industrl United Kingdom 4.64
TCredit Suisse Group AG Finan Svcs Switzerland 4.45
YJulius Baer Gruppe AG Finan Svcs Switzerland 4.17
YTE Connectivity Ltd Technology United States 4.17
YAlphabet Inc C Technology United States 4.08
YGeneral Motors Co Cnsmr Cyc United States 4.01
YBank of America Corporati Finan Svcs United States 3.68
YLafargeHolcim Ltd Basic Mat Switzerland 3.66
Incitec Pivot Ltd Basic Mat Australia 3.49
TDaimler AG Cnsmr Cyc Germany 3.48
YThe Interpublic Group of Cnsmr Cyc United States 3.44
YCitigroup Inc Finan Svcs United States 3.32
YMasterCard Inc A Finan Svcs United States 3.29
TAllianz SE Finan Svcs Germany 3.27
YToyota Motor Corp Cnsmr Cyc Japan 3.23
YOracle Corp Technology United States 3.18
RLloyds Banking Group PLC Finan Svcs United Kingdom 3.15
YDaiwa Securities Group In Finan Svcs Japan 2.99
YOMRON Corp Technology Japan 2.62
TCie Financiere Richemont Cnsmr Cyc Switzerland 2.57
Current Investment Style
Large Mid Small
Value Blend Growth Market Cap %
Giant 41.5
Large 35.4
Mid 18.9
Small 4.2
Micro 0.0
Avg $mil:
24,969
Value Measures Rel Category
Price/Earnings 12.62 0.69
Price/Book 1.23 0.52
Price/Sales 0.80 0.49
Price/Cash Flow 3.52 0.40
Dividend Yield % 2.99 1.15
Growth Measures % Rel Category
Long-Term Erngs 9.69 0.92
Book Value 2.80 0.92
Sales 3.75 7.21
Cash Flow 25.85 7.74
Historical Erngs 13.52 5.98
Composition - Net
Cash 2.2 Bonds 0.0
Stocks 97.9 Other 0.0
Foreign (% of Stock) 56.6
Sector
Weightings
% of
Stocks
Rel
Bmark 1
h Cyclical 61.62 1.65
r BasicMat 9.59 1.84
t CnsmrCyc 22.75 2.00
y FinanSvcs 29.28 1.68
u Real Est 0.00 0.00
j Sensitive 34.19 0.92
i CommSrvs 0.00 0.00
o Energy 1.95 0.30
p Industrl 10.36 0.97
a Technlgy 21.88 1.47
k Defensive 4.20 0.16
s CnsmrDef 1.91 0.18
d Hlthcare 2.29 0.19
f Utilities 0.00 0.00
Regional Exposure % Stock
UK/W. Europe 36 N. America 43
Japan 10 Latn America 2
Asia X Japan 8 Other 0
Country Exposure % Stock
United States 43
Switzerland 15
UK 11
Japan 10
Germany 9
Morningstar's Take by Greg Carlson 08-11-16
Oakmark Global will lose a veteran comanager in
September, but its prospects remain strong. It continues
to earn a Morningstar Analyst Rating of Gold.
On July 29, 2016, Harris Associates (the fund's
advisor) announced that Rob Taylor, comanager of this
fund since 2005, will retire at the end of September. (The
firmalsoannounced that the fund,whichhadbeenclosed
to new investors except for those who invest directly or
through retirement plans, would reopen to all investors.)
David Herro, the lead manager of Gold-rated Oakmark
International OAKIX since its 1992 inception, will take
over the non-U.S. portion of the fund from Taylor. Clyde
McGregor, who's comanaged the fund since 2003, will
continue to oversee the U.S. equity portfolio.
Taylor's departure will certainly represent a loss. A
22-year veteran of the firm, he had served as director of
international research from 2004-15 and comanaged
Oakmark Internationalsince2008 (Herrowill run that fund
solo).
But this fundwill remain inhighlyprovenhands.Herro
has amassed a superb record at Oakmark International
and has also managed Bronze-rated Oakmark
International Small Cap OAKEX since its 1995 inception.
He will continue to be backed by a team that includes
portfolio manager/analyst hybrids Eric Liu and Mike
Manelli--the latter comanages Oakmark International
Small Cap--and six analysts with an average of 6.5 years'
tenure at the firm. McGregor, meanwhile, has generated
strong results both over his 13-year tenure here and at
Oakmark Equity and Income OAKBX since its 1995
inception and is backed by a bevy of U.S.-focused
managers and analysts.
The fund is in the midst of a painful slump since the
startof2015thathasmade itsrecord lookmerelyaverage
over the past decade. The poor performance owes in part
to a large stake in financials; Credit Suisse and other
European banks have been hammered lately. But the firm
argues they're too cheap given their improved balance
sheets and potential for earnings growth. The fund has
been out of step with the market before, but it remains a
solid holding.
Address: Harris Associates LP Minimum Purchase: $1000 Add: $100 IRA: $1000
Chicago, IL 606057 Min Auto Inv Plan: $500 Add: $100
800-625-6275 Sales Fees: No-load
Web Address: Management Fee: 1.00% mx./0.88% mn.
Inception: 08-04-99 Actual Fees: Mgt:0.98% Dist:—
Advisor: Harris Associates L.P. Expense Projections: 3Yr:$356 5Yr:$617 10Yr:$1363
Subadvisor: None Income Distribution: Annually
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