2024-04-10 04:55:00 ET
Summary
- We are value investors. In constructing portfolios for our clients, we seek out companies that we believe are trading in the market at significant discounts to their underlying value. These businesses must offer significant profit potential and be run by managers who think and act as owners.
- We believe in the importance of intensive, fundamental research. Our research process is based on a disciplined quantitative and qualitative screening process.
- The Oakmark Equity and Income Fund returned 4.92% during the first quarter, compared to 5.15% for the Lipper Balanced Fund Index.
- Since its inception in November 1995, the Fund has returned an average of 9.69% per year, outperforming the Lipper Balanced Fund Index’s return of 6.97% over the same period.
- Our fixed income holdings returned 0.30% during the quarter, outperforming the Bloomberg U.S. Aggregate Government/Credit Index of -0.72%.
Quarter and Calendar-Year Review
The Oakmark Equity and Income Fund ( OAKBX ) ("the Fund") returned 4.92% during the first quarter, compared to 5.15% for the Lipper Balanced Fund Index. This was driven by an 8.53% return on our equity portfolio, which lagged the S&P 500 Index of 10.56% 1 . This was partly due to an underweight in technology stocks, which were boosted by enthusiasm around artificial intelligence, as well as an overweight in mid-cap stocks, where we continue to find compelling valuations. Since its inception in November 1995, the Fund has returned an average of 9.69% per year, outperforming the Lipper Balanced Fund Index's return of 6.97% over the same period....
Read the full article on Seeking Alpha
For further details see:
Oakmark Equity And Income Fund: First Calendar Quarter 2024 Commentary