Greg Jackson, manager of the top-performing $900 million Oakmark Global mutual fund, has left and is understood to be joining Blum Capital where he is expected to run a new fund. Jackson became a star mutual fund manager while at Harris Associates, adviser of the Oakmark family of funds.
His fund was up 15.8% in 2000, 20.1% in 2001, -2.1% in 2002 and 38% in 2003 so far. The fund has a global remit, focusing on stocks that trade at steep discounts to intrinsic values. This deep-value based philosophy fits well with Blum's focus on small and mid-cap stocks.