News & Commentary

Fund Manager Commentary
Harbor Capital Appreciation Fund
  • Jennison Associates LLC - 1st Quarter, 2014
  • Growth stocks post modest gains in Q1
  • U.S. growth stocks posted small but positive returns for the first quarter of 2014 as investors showed a preference for value-oriented equities.
Harbor Mid Cap Growth Fund
  • Wellington Management Company, LLP - 1st Quarter, 2014
  • Mid cap growth stocks gain ground in Q1 despite March pullback
  • U.S. equities opened the new year with a modest advance. Mid cap growth stocks recorded a return of 2.04% for the three months ended March 31, 2014, as measured by the Russell Midcap® Growth Index.
Harbor Small Cap Growth Fund
  • Westfield Capital Management Company, L.P. - 1st Quarter, 2014
  • Small cap growth stocks close Q1 with narrow advance
  • U.S. equities posted modest gains for the first quarter of 2014, with small cap growth stocks, as measured by the Russell 2000® Growth Index, recording a return of 0.48%.
Harbor Small Cap Growth Opportunities Fund
  • Elk Creek Partners, LLC - 1st Quarter, 2014
  • Earnings seen as key driver of equity returns in 2014
  • U.S. equities could generate competitive returns in the months ahead, although likely not at the high levels achieved in 2013, in the view of Cam Philpott, Portfolio Manager of Harbor Small Cap Growth Opportunities Fund.
Harbor Large Cap Value Fund
  • Aristotle Capital Management, LLC - 1st Quarter, 2014
  • Stock selection drives Fund performance in Q1
  • The Harbor Large Cap Value Fund gained ground in the first quarter of 2014, outperforming its benchmark.
Harbor Mid Cap Value Fund
  • LSV Asset Management - 1st Quarter, 2014
  • Mid cap value shares advanced in Q1, led by defensive sectors
  • U.S. equities advanced in the first quarter of 2014, with shares of mid cap companies returning 3.53%, as measured by the Russell Midcap® Index.
Harbor Small Cap Value Fund
  • EARNEST Partners LLC - 1st Quarter, 2014
  • Small cap value stocks open 2014 with modest advance
  • Small cap stocks opened the new year with modest gains for the three months ended March 31, 2014.
Harbor International Fund
  • Northern Cross, LLC - 1st Quarter, 2014
  • International shares record modest advance in Q1
  • Equities in developed overseas markets closed out the first quarter of 2014 with a narrow gain, as the MSCI EAFE (ND) Index posted a return of 0.66%.
Harbor International Growth Fund
  • Baillie Gifford Overseas Limited - 1st Quarter, 2014
  • Foreign stocks edge higher in Q1
  • In a challenging environment, international equities managed to close the first quarter of 2014 in positive territory.
Harbor Global Growth Fund
  • Marsico Capital Management, LLC - 1st Quarter, 2014
  • Global stocks post modest gains in volatile quarter
  • In a quarter marked by relatively high levels of volatility, global equity markets posted somewhat flat returns for the three months ended March 31, 2014.
Harbor Emerging Markets Equity Fund
  • Oaktree Capital Management, L.P. - 1st Quarter, 2014
  • Emerging markets equities post narrow loss in challenging quarter
  • Stocks of companies based in developing markets lost ground in the first quarter of 2014, with the MSCI Emerging Markets (ND) Index registering a negative return of -0.43%.
Harbor Commodity Real Return Strategy Fund
  • Pacific Investment Management Company LLC - 1st Quarter, 2014
  • Commodities start 2014 with solid Q1 advance
  • Commodity prices registered solid gains in the first quarter of 2014, reversing course from a weak performance in the prior year.
Harbor Unconstrained Bond Fund
  • Pacific Investment Management Company LLC - 1st Quarter, 2014
  • Reversing course, bonds post positive returns for Q1
  • Investment-grade bonds moved higher in the first quarter of 2014, reversing direction after finishing the prior year in negative territory.
Harbor Convertible Securities Fund
  • Shenkman Capital Management, Inc. - 1st Quarter, 2014
  • Despite March correction, convertibles post solid advance for Q1
  • Convertible bonds recorded solid returns for the first quarter of 2014, outpacing broad U.S. equity and fixed income markets.
Harbor Emerging Markets Debt Fund
  • Stone Harbor Investment Partners LP - 1st Quarter, 2014
  • EM debt markets post solid advance to start 2014
  • Bonds from developing countries moved higher to start the new year, finishing the first quarter of 2014 in positive territory.
Harbor High-Yield Bond Fund
  • Shenkman Capital Management, Inc. - 1st Quarter, 2014
  • High yield market records solid gains for Q1, aided by falling rates
  • High yield bonds generated competitive results for the first quarter of 2014, with the BofA Merrill Lynch US High Yield Index posting a return of 3.00%.
Harbor Bond Fund
  • Pacific Investment Management Company LLC - 1st Quarter, 2014
  • Bonds open 2014 with positive returns as rates decline in Q1
  • After losing ground in the prior year, investment-grade bonds reversed course in the first quarter of 2014.
Harbor Real Return Fund
  • Pacific Investment Management Company LLC - 1st Quarter, 2014
  • After sharp sell-off in 2013, a rebound for inflation-linked securities in Q1
  • Following a down year in 2013, inflation-indexed bonds bounced back in the first quarter of 2014.
Harbor Money Market Fund
  • Fischer Francis Trees & Watts, Inc. - 1st Quarter, 2014
  • Monetary stimulus continues to weigh on money market returns
  • Yields generated by money market investments remained at historically low levels in the first quarter of 2014.

Performance figures discussed reflect that of the institutional class shares.

The views expressed herein are those of the portfolio manager at the time of the interview and may not be reflective of their current opinions or future actions.  These views are not necessarily those of the fund company and should not be construed as such.

This information should not be considered as a recommendation to purchase or sell a particular security and the holdings or sectors mentioned may change at any time and may not represent current or future investments.