The Oakmark Global Select Fund had a strong year of absolute and relative performance, returning 29.8% for the calendar year. The benchmark MSCI World Index returned 27.7% for the same one-year period. The Fund also outperformed for the recent quarter-end, returning 11.7% compared to the Index return of 8.6%. Lastly, the Fund has returned an average of 7.9% per year since its inception in October 2006, outperforming the MSCI World Index's annualized gain of 6.3% over the same period.
Lloyds Banking Group (LYG), a dominant retail bank in the U.K., was the largest contributor to