May 8 (Bloomberg) -- Henry Berghoef, co-manager of the $3.1 billion Oakmark Select Fund, will retire at the end of July.
Berghoef, 63, has worked at Harris Associates LP, the investment firm that manages the Oakmark funds and separate accounts, since 1994 and has overseen the Select Fund with William Nygren since 2000, according to a statement today from the Chicago-based company.
Oakmark Select, which focuses on about 20 value stocks, has beaten 92 percent of its peers with a 20 percent annual average return over the past three years, according to data compiled by Bloomberg. Nygren, who has run the fund since its 1996 inception and also oversees the $6 billion Oakmark Fund, was named Morningstar Inc.’s domestic stock fund manager of the year for 2001.
“Over his years of service, Henry has made extraordinary contributions as an analyst, director of research, Select Fund co-manager and member of the Harris management committee,” Nygren said in the statement.
A co-manager for the Select Fund is expected to be named within the next year, the firm said.
To contact the reporter on this story: Alexis Leondis in New York firstname.lastname@example.org
To contact the editor responsible for this story: Christian Baumgaertel at email@example.com