0001104659-21-105932.txt : 20210816 0001104659-21-105932.hdr.sgml : 20210816 20210816113616 ACCESSION NUMBER: 0001104659-21-105932 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20210816 DATE AS OF CHANGE: 20210816 EFFECTIVENESS DATE: 20210816 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HARRIS ASSOCIATES INVESTMENT TRUST CENTRAL INDEX KEY: 0000872323 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-38953 FILM NUMBER: 211175746 BUSINESS ADDRESS: STREET 1: HARRIS ASSOCIATES LP STREET 2: 111 S. WACKER DRIVE, SUITE 4600 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 8004769625 MAIL ADDRESS: STREET 1: HARRIS ASSOCIATES LP STREET 2: 111 S. WACKER DRIVE, SUITE 4600 CITY: CHICAGO STATE: IL ZIP: 60606 0000872323 S000002758 Oakmark Fund C000007554 Investor Class OAKMX C000007555 Service Class OARMX 0000872323 S000002759 Oakmark Select Fund C000007556 Investor Class OAKLX C000007557 Service Class OARLX 0000872323 S000002760 Oakmark Equity and Income Fund C000007558 Investor Class OAKBX C000007559 Service Class OARBX 0000872323 S000002761 Oakmark Global Fund C000007560 Investor Class OAKGX C000007561 Service Class OARGX 0000872323 S000002762 Oakmark International Fund C000007562 Investor Class OAKIX C000007563 Service Class OARIX 0000872323 S000002763 Oakmark International Small Cap Fund C000007564 Investor Class OAKEX C000007565 Service Class OAREX 0000872323 S000013607 Oakmark Global Select Fund C000036890 Investor Class OAKWX C000036891 Service Class OARWX 497 1 tm2125088d1_497.htm 497

 

Harris Associates Investment Trust

Oakmark Fund

Oakmark Select Fund

Oakmark Global Fund

Oakmark Global Select

Oakmark International Fund

Oakmark International Small Cap Fund

Oakmark Equity and Income Fund

(the “Funds”)

 

Supplement dated August 16, 2021 to each Fund’s Summary Prospectus, Prospectus, and Statement of Additional Information, each dated December 15, 2020

 

On July 28, 2021, the Board of the Trustees of the Harris Associates Investment Trust approved the combination of the Investor Class and Service Class shares and the conversion of the Funds’ Service Class shares to Investor Class shares (the “Combination”).

 

The class attributes of each Fund’s Service Class and Investor Class are currently substantially similar. As a result of the Combination, the existing Service Class shares will be terminated, and those shares of the Funds held by each shareholder will be converted to Investor Class shares of the same Fund, in each case with lower net total expenses. The Combination is expected to occur on or about the close of business on December 17, 2021 (the “Effective Date”). The Combination is not expected to have any federal income tax consequences for Service Class shareholders, as they generally should not recognize any gain or loss as a result of the Combination. Each Service Class shareholder is urged to consult his or her own tax adviser regarding the tax consequences of the Combination to that shareholder.

 

As of the Effective Date, Service Class shareholders will become Investor Class shareholders of their respective Fund and receive shares with a total net asset value equal to that of their current Service Class shares. In addition, as of the Effective Date, all references to the terminated Service Class shares are removed from each Fund’s Summary Prospectus, Prospectus, and Statement of Additional Information. There is no action required by shareholders to effect the Combination.

 

In connection with the Combination, effective as of September 17, 2021, the Service Class shares of each Fund will no longer accept new investors, but it will allow additional purchases from current shareholders of each Fund.

 

If you have questions regarding the Combination, please call 1-800-OAKMARK (625-6275).

 

 

PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.