verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . july 2013 learn how and when to remove this template message harris associates type private industry investment management founded 1976 1976 founder victor morgenstern headquarters chicago united states products mutual funds asset management aum 134 billion 2014 website www.harrisassoc.com harris associates l.p. is a chicago based investment company that manages 134 billion 1 in assets as of june 30 2014 . harris manages long only u.s. equity international equity and global equity strategies which are offered through its mutual fund company the oakmark funds and other types of vehicles . harris is wholly owned by natixis global asset management a french financial services firm that is principally owned by bpce france s second largest banking group . harris associates retains full control of investment decisions investment philosophy and day to day operations . contents 1 history 2 investment philosophy 3 supreme court case 4 references 5 external links history edit harris associates was founded in 1976 by victor morgenstern 2 myron szold roger brown ralph wanger 3 joe braucher peter foreman ed neisser and earl rusnak who had previously worked in the private investment office of chicago entrepreneur irving harris . irving harris was not directly related to the norman harris who established harris bank . citation needed . investment philosophy edit harris associates is considered to be a value investor . the investment process entails investing in businesses that are trading at a discount to instrinsic value . the instrinsic value is based on a discounted cash flow analysis that takes into account the quality of management and the company s ability to grow . 4 according to research by morningstar in april 2013 which analyzed the performance of the seven oakmark funds over a five year period four were ranked in at least the top 2 % in their relevant categories . 5 supreme court case edit 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 . 6 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 . 7 8 in march 2010 the supreme court unanimously vacated the seventh circuit s ruling and remanded the case . 9 references edit https www.harrisassoc.com harris web me.get web.websections.show & harris 019 http investing.businessweek.com research stocks private person.asp personid 1100344 & privcapid 6060156 & previouscapid 6060156 & previoustitle valor % 20equity % 20partners % 20l . p. wanger investment management . bloomberg . http analysis.morningstar.com analystreport far.aspx t oaklx & region usa & culture en us http online.barrons.com article sb50001424052748704882404578390772279784116.html articletabs article % 3d1 sachdev ameet ; david savage november 3 2009 . mutual fund fee case tests what is a reasonable charge . chicago tribune . p. 19 . access date requires url help sachdev ameet ; david savage november 3 2009 . mutual fund fee case tests what is a reasonable charge . chicago tribune . p. 19 . access date requires url help mutual fund fee dispute divides u.s. supreme court update2 . bloomberg . 2 november 2009 . http www.scotusblog.com 2010 03 todays opinions 49 external links edit official website retrieved from https en.wikipedia.org w index.php title harris associates & oldid 743336633 categories investment management companies of the united statescompanies established in 1976companies based in chicagohidden categories pages using citations with accessdate and no urlarticles needing additional references from july 2013all articles needing additional referencesall articles with unsourced statementsarticles with unsourced statements from july 2013 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 9 october 2016 at 04 57 . text is available under the creative commons attribution sharealike license ; 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