AMADF - Oakmark International Fund: 2Q 2020
The Oakmark International Fund had a strong quarter of absolute and relative performance, returning 24.4%. The benchmark MSCI World ex U.S. Index returned 15.3% for the same period. The Fund has returned an average of 8.2% per year since its inception in September 1992, outperforming the MSCI World ex U.S. Index, which has averaged 5.5% per year over the same period.
Glencore (GLCNF), headquartered in Switzerland and one of the world's largest mining firms and commodities traders, was the largest contributor for the quarter, returning 38%. The company's first-quarter production was lower than a year