The Oakmark Global Select Fund declined 4.9% for the fiscal year ended September 30, 2019, underperforming the MSCI World Index, which returned 1.8%. For the most recent quarter, the Fund declined 0.8% compared to the benchmark's return of 0.5%. More importantly, the Fund has returned an average of 7.1% per year since its inception in October 2006, outperforming the MSCI World Index's annualized gain of 5.8% over the same period.
Alphabet (GOOG) (GOOGL), the parent company of Google, headquartered in the U.S., was the largest contributor for the quarter. Alphabet delivered second-quarter earnings results that