Where skill meets precision

Harris Associates has been investing in US value since 1976. Its long-term, patient approach allows the team to look beyond the short-term noise and wait for price and value to converge. Their investment philosophy focuses on the three tenets: (1) Buy businesses at a significant discount to their estimate of intrinsic value; (2) Invest in companies expected to grow per share value over time; (3) Invest with management teams that think and act as owners. They conduct rigorous fundamental research on companies across industries in search of undervalued, growing businesses with aligned management teams.

Why now and why Harris Associates for value investing?



Fund at a glance

TRACK

Long Track Record

Incepted since 2001

LENS

VALUE LENS

Search for businesses
at a significant
discount to their
estimate intrinsic value

GROWTH

LONG-TERM GROWTH

Invest in companies
expected to grow
per share value
over time

icon of lightbulb

BOTTOM-UP

Concentered portfolio
of 40 – 60 stocks

AWARD WINNING

AWARD WINNING

Recognition from the
industry*





1. Value investing experience through multiple market cycles

Founded in 1976, Harris Associates has been focusing on value investing. Its investment process has been tested through multiple market cycles.

2. Attractive valuation and growth potential

As at 31 March 2024
Portfolio Statistics
FundRussell 1000 ValueS&P 500 Total Return Index
Price/Earnings 13.2 18.4 24.7
Price/Cash Flow 11.7 11.5 29.2
Price/Book 1.8 2.6 4.3
Return on Equity, % 22.7 15.3 17.5
Past performance is not necessarily indicative of future performance.

3. Strong track record and award-winning*

As at 31 March 2024 
Annualised Performance (%)
Fund R/A USD (share class)Fund with Max Sales ChargeMorningstar Peer Group Quartile
1 YR 32.38 27.09 1st
3 YR 11.08 9.58 1st
5 YR 15.44 14.50 1st
Since Inception (4 July 2001) 7.81 7.62 1st

2024 Asian Private Banker Asset Management Awards for Excellence - Best Fund Provider, Value Equity

2024 Asian Private Banker Asset Management Awards for Excellence - Highly Commended, Value Equity
Source: Morningstar, Harris Associates. Past performance is not a guarantee of its future results.


The portfolio management team

Anthony P. Coniaris

Anthony P. Coniaris, CFA®

Partner, Chairman and Portfolio Manager

Michael Nicolas

Michael Nicolas, CFA®

Portfolio Manager and U.S. Investment Analyst

Robert F. Bierig

Robert F. Bierig

Portfolio Manager and U.S. Investment Analyst

The firm

Found in 1976 with asset under management US$104.3 billion, Harris Associates manages US, global, and international strategies. The firm employs an intensive, fundamental in-house research process to identify companies trading at a significant discount to managers' estimates of intrinsic business value. Harris Associates uses its experienced team, consistent and pervasive philosophy, repeatable and fundamental process, and long-term investment horizons as the foundation of steadfast conviction.
Source: Harris Associates, as of 31/12/2023.
Ranked the top 20 global asset managers and 2nd European manager. With asset under management US$1.3 trillion, Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and focused expertise of more than 15 active managers. Natixis Investment Managers delivers a diverse range of solutions across asset classes, styles, and vehicles, including innovative environmental, social, and governance (ESG) strategies and products dedicated to advancing sustainable finance.
Source: Cerulli and Natixis Investment Managers, as of 31/12/2023.

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