Harris Associates
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Company type | |
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Website | www |
Harris Associates L.P. is a
History
Harris Associates was founded in 1976 by Victor Morgenstern,
Investment philosophy
Harris Associates is considered to be a
Investment managers
As of 2020, notable investment managers include Bill Nygren, who joined in 1983[6] is known for a value investing approach.[7]
Supreme Court case
In 2009, the U.S. Supreme Court agreed to hear Jones v. Harris Associates, a suit brought in federal court by a group of mutual fund investors against the firm. The mutual fund investors, who are investors in the Oakmark funds, claimed that the funds have overpaid their advisor (Harris Associates), and that the fees that Harris Associates charges Oakmark investors are higher than the fees that Harris charges institutional clients.[8]
The suit previously had been thrown out by the United States Court of Appeals for the Seventh Circuit in 2008, with a judge who is a noted free-market backer, Richard Posner arguing that sometimes marketplaces need to be reined in.[9][10]
In March 2010, the Supreme Court unanimously vacated the Seventh Circuit's ruling and remanded the case.[11]
References
- ^ "Who We Are | Strategic Global Asset Management". Retrieved 2022-05-22.
- ^ "Stocks". 5 September 2023.[dead link]
- ^ "Wanger Investment Management". Bloomberg. Archived from the original on December 24, 2013.
- ^ http://analysis.morningstar.com/analystreport/far.aspx?t=OAKLX®ion=USA&culture=en-us
- ^ "Earning Their Keep".
- ^ "Bill Nygren". news.morningstar.com. Retrieved 2020-04-10.
- ^ "Oakmark Slumps, but Potential Remains". Morningstar, Inc. 19 March 2020. Retrieved 2020-04-10.
- ^ "Mutual fund fee case tests what is a reasonable charge". Chicago Tribune. 3 November 2009.
- ^ "Mutual fund fee case tests what is a reasonable charge". Chicago Tribune. 3 November 2009.
- ^ "Mutual Fund Fee Dispute Divides U.S. Supreme Court (Update2)". Bloomberg. 2 November 2009.
- ^ "Today's opinions". 30 March 2010.