The Oakmark International Fund (OAKIX): How David Herro Does It
Posted in In The Press, Latest Reports on March 11th, 2010By Daniel Ojeda
David Herro, Morningstar’s International Stock Fund Manager of the Decade, feels optimistic about his Oakmark International Fund this year. While maintaining its objective of long-term capital appreciation, OAKIX has continually achieved strong performance since its inception in September1992. By averaging 11% per year, it has outperformed the MSCI World ex U.S. Index which averaged 7% per year over the same period. This fund normally invests in undervalued securities in at least five countries outside of the United States. David believes that when it comes to shopping around for undervalued companies, the international marketplace provides the widest range of opportunities. He assesses the value of a company primarily on its ability to generate cash flow and also on its quality of management, market share, and degree of pricing power.