Oakmark Equity and Income Fund Co-Manager Matt Logan to Step Down

CHICAGO, May 6, 2016 /PRNewswire/ -- Matt Logan, CFA, will step down as one of the co-portfolio managers of the Oakmark Equity and Income Fund (OAKBX) and leave Harris Associates L.P., the Fund's adviser, to pursue a new opportunity, effective May 15, 2016.

Mr. Logan, 32, joined Harris Associates in 2006 as a research associate after earning his bachelor's degree from Babson College.  He has been a co-manager of the Oakmark Equity and Income Fund since 2013.

"Harris Associates is a wonderful firm, and it's been an honor to be a part of the investment team for the past 10 years," Mr. Logan said. "I'm excited to begin a new chapter in my career, but I will miss working with my outstanding colleagues.  I look forward to remaining in touch and continuing to root for the team in the future.  I have great confidence that Harris' 40-year tradition of investment excellence and client service will endure."

Clyde McGregor, Colin Hudson and Edward Wojciechowski will continue as co-portfolio managers of the Oakmark Equity and Income Fund. There are no immediate plans to replace Mr. Logan as co-manager.  Mr. McGregor has managed or co-managed the Fund since its inception in November 1995.

"Over his years of service, Matt has made extraordinary contributions as an analyst and co-manager," said Mr. McGregor.

"Matt has been a valuable member of the Harris Associates research team from the day he arrived," said Kristi Rowsell, president of The Oakmark Funds. "We wish him well in his future endeavors."

About The Oakmark Equity and Income Fund

The Oakmark Equity and Income Fund, created in 1995, seeks income and preservation and growth of capital. The Fund is primarily made up of U.S. equity and fixed-income securities. Assets under management totaled $17 billion as of March 31, 2016.

About The Oakmark Funds

The Oakmark Funds are a family of seven value-oriented mutual funds that invest in equity and fixed-income markets around the world while adhering to a long-term philosophy focusing on capital preservation and risk management. The Funds are advised by Harris Associates L.P., based in Chicago. The Oakmark Funds had $71 billion in assets under management as of March 31, 2016.

About Harris Associates L.P.

Harris Associates L.P., based in Chicago since 1976, is a value-oriented investment management company serving individuals, families, institutions and the Oakmark Funds. The firm adheres to a long-term philosophy focusing on capital preservation and risk management. Harris Associates had $114 billion in assets under management as of March 31, 2016.

SOURCE Harris Associates