Matt Logan, CFA, will step down as one of the co-portfolio managers of the Oakmark Equity and Income Fund (OAKBX) and leave Harris Associates LP, the fund's adviser, to pursue a new opportunity, effective 15 May, 2016.
Logan, 32, joined Harris Associates in 2006 as a research associate after earning his bachelor's degree from Babson College. He has been a co-manager of the Oakmark Equity and Income Fund since 2013.
"Harris Associates is a wonderful firm, and it's been an honour to be a part of the investment team for the past 10 years," says Logan. "I'm excited to begin a new chapter in my career, but I will miss working with my outstanding colleagues. I look forward to remaining in touch and continuing to root for the team in the future. I have great confidence that Harris' 40-year tradition of investment excellence and client service will endure."
Clyde McGregor, Colin Hudson and Edward Wojciechowski will continue as co-portfolio managers of the Oakmark Equity and Income Fund. There are no immediate plans to replace Logan as co-manager. McGregor has managed or co-managed the Fund since its inception in November 1995.
"Over his years of service, Matt has made extraordinary contributions as an analyst and co-manager," says McGregor.
"Matt has been a valuable member of the Harris Associates research team from the day he arrived," says Kristi Rowsell, president of The Oakmark Funds. "We wish him well in his future endeavours."
