LONDON--(BUSINESS WIRE)--Natixis Global Associates (NGA), the distribution arm of Natixis Global Asset Management (NGAM), announced today the launch of the Harris Associates Concentrated U.S. Value Fund for U.K. investors.
The fund invests in U.S. equities, with a highly concentrated portfolio of approximately 20 U.S. stock holdings of large- and mid-capitalisation companies. The fund’s objective is the long-term growth of capital, resulting from investing in a limited number of U.S. stocks.
Harris Associates, an affiliate of Natixis Global Asset Management, follows a strict, value-oriented investment approach. It seeks to identify companies whose stocks trade at a substantial discount to Harris’ estimate of their intrinsic value, with growing free-cash flow and intelligent use of that cash, and with management teams that think and act like owners. In developing its estimates of intrinsic value, Harris uses a private-equity approach to publicly traded stocks.
Hervé Guinamant, president and CEO, Natixis Global Associates International, said: “We believe that the Harris Associates Concentrated U.S. Value Fund offers excellent potential for strong long-term performance, thanks to the rigorous process for selecting U.S. value stocks and the greater potential impact on returns from its concentrated structure. In these challenging economic times, the Harris approach allows investors to think past short-term market movements and build durable U.S. equities exposure.”
The fund is managed by an experienced team led by Robert Levy, chief investment officer for U.S. equities, and Mike Mangan and Edward Loeb, both portfolio managers at Harris Associates. The managers are supported by fundamental research produced by a large and seasoned group of U.S. equity analysts.
The Fund is a sub-fund of Natixis International Funds (Lux) I, an open-ended Luxembourg-domiciled UCITS, and is available in Great Britain pounds. A full description of fund characteristics can be found in the prospectus.
About Harris Associates
Harris Associates L.P. was founded in 1976 by experienced investment professionals to provide investment advice to wealthy individuals and institutions. These professionals, who had formerly worked in the private investment office of a prominent Chicago entrepreneur, created and refined the distinct value investment philosophy that has guided the firm since its inception. Today, Harris Associates manages separate accounts and The Oakmark Funds, a U.S. domiciled suite of funds. www.harrisassoc.com
About Natixis Global Associates
Natixis Global Associates (NGA) is the distribution arm of Natixis Global Asset Management. NGA works on a consultative basis from its network of worldwide offices, tailoring the expertise of its managers to meet the investment objectives of local clients. In the U.S., NGA includes Natixis Distributors, L.P. (member FINRA) and Natixis Asset Management Advisors, L.P. (a registered investment advisor). Both are located at 399 Boylston Street, Boston, MA 02116. Outside of the U.S., NGA includes Natixis Global Associates S.A., a Luxembourg management company that is authorised by the CSSF, and business development units located across the globe, including Natixis Global Associates UK Limited which is authorised and regulated by the UK Financial Services Authority. ga.natixis.com
About Natixis Global Asset Management
Natixis Global Asset Management is one of the 15 largest asset managers in the world based on assets under management.1 Its affiliated asset management companies provide investment products that seek to enhance and protect the wealth and retirement assets of both institutional and individual investor clients. Its proprietary distribution network helps package and deliver its affiliates’ products around the world. Natixis Global Asset Management brings together the expertise of multiple specialised investment managers based in Europe, the United States and Asia to offer a wide spectrum of equity, fixed-income and alternative investment strategies.
Headquartered in Paris and Boston, Natixis Global Asset Management’s assets under management totaled $705 billion (€525 billion) as of 30 September 2011. Natixis Global Asset Management is part of Natixis. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Global Asset Management’s affiliated investment management firms and distribution and service groups include: Absolute Asia Asset Management; AEW Capital Management; AEW Europe; AlphaSimplex Group; Aurora Investment Management; Capital Growth Management; Caspian Capital Management; Darius Capital Partners; Gateway Investment Advisers; H2O Asset Management; Hansberger Global Investors; Harris Associates; Loomis, Sayles & Company; Natixis Asset Management; Natixis Global Associates; Natixis Multimanager; Ossiam; Reich & Tang Asset Management; Snyder Capital Management; and Vaughan Nelson Investment Management.
1 Cerulli Quantitative Update: Global Markets 2011, based on December 31, 2010 AUM of $713 billion.