News & Commentary

Reorganization of Harbor Target Retirement 2010 Fund into Harbor Target Retirement Income Fund
May 28, 2014

Harbor Funds announced today that Harbor Target Retirement 2010 Fund (the "2010 Fund") will be reorganized into Harbor Target Retirement Income Fund (the "Income Fund") on Friday, October 31, 2014. After the close of business on October 31, 2014, each 2010 Fund shareholder will become the owner of shares of the Income Fund with a value equal to their interest in the 2010 Fund immediately prior to the reorganization. Because of the planned reorganization, the 2010 Fund is now closed to new investors.

The 2010 Fund has changed its asset allocation over time in accordance with its glide path and its allocation is now substantially similar to that of the Income Fund. As described in the Harbor Target Retirement Funds' prospectus, when a year-specific Target Retirement Fund's asset allocation is similar to that of the Income Fund, Harbor Funds' Board of Trustees (the "Board") may approve combining that Target Retirement Fund with the Income Fund if the Board determines the combination to be in the best interests of the Target Retirement Funds' shareholders. The Board approved combining the 2010 Fund with the Income Fund at a meeting held on May 18-19, 2014.

If you have any questions, please contact one of our Shareholder Services Representatives at 800-422-1050, Monday through Friday, from 8:00 a.m. to 6:00 p.m., Eastern time.