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Are the Oakmark Funds Prepared for the Future?

The firm has made significant progress in its succession planning but has more work to do.

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A version of this article was published in the September 2017 issue of Morningstar FundInvestor. Download a complimentary copy of FundInvestor by visiting the website.

How to fill the shoes of a retiring portfolio manager with a long record of success? Asset-management firms have long wrestled with this question. Great managers can’t be cloned (yet), so the best a firm can do is prepare by building a strong team behind them and ultimately choosing one or more successors who have shown promise and will employ a similar approach.

Greg Carlson has a position in the following securities mentioned above: OAKIX. Find out about Morningstar’s editorial policies.