July 17, 2003 — Harris Associates L.P. said Edward Studzinski was named co-manager of the $343-million Oakmark Small-Cap Fund/I (OAKSX), joining James Benson, who has served as co-manager on the fund since November, 1999.
Clyde McGregor, formerly co-portfolio manager of the fund, continues as co-manager of the $3.5-billion Oakmark Equity & Income Fund/I (OAKBX). McGregor has been on the Equity & Income Fund since its inception in November, 1995. He also manages separate accounts at Oakmark.
Harris Associates noted that Oakmark Small-Cap fund “will continue to be managed using the same value approach employed since its inception, investing in small-cap companies that are trading at a significant discount to their estimated intrinsic value that demonstrate the potential to grow per-share business value over time.”