News & Commentary

Fund Manager Commentary
Harbor Capital Appreciation Fund
  • Jennison Associates LLC - 1st Quarter, 2015
  • Stock selection drives Fund's outperformance as large cap growth shares advance
  • U.S. equities opened the new year with a gain, as the Russell 3000® Index, a measure of the broad domestic stock market, returned 1.80% for the first quarter of 2015.
Harbor Mid Cap Growth Fund
  • Wellington Management Company LLP - 1st Quarter, 2015
  • Mid cap growth stocks move higher in Q1 with most sectors gaining ground
  • U.S. equities posted mostly positive returns for the first quarter of 2015, with growth stocks generally outpacing their value counterparts.
Harbor Small Cap Growth Fund
  • Westfield Capital Management Company, L.P. - 1st Quarter, 2015
  • Boosted by Health Care stocks, Fund outpaces small cap growth benchmark in Q1
  • With growth stocks leading the way, shares of smaller U.S. companies advanced in the first quarter of 2015. The Russell 2000® Index, a benchmark for small-company stocks, posted a return of 4.32%.
Harbor Small Cap Growth Opportunities Fund
  • Elk Creek Partners, LLC - 1st Quarter, 2015
  • Most sectors gain ground as small cap growth stocks post solid advance in Q1
  • Shares of smaller U.S.-based companies generated solid results for the first quarter of 2015.
Harbor Large Cap Value Fund
  • Aristotle Capital Management, LLC - 1st Quarter, 2015
  • Fund moves higher, outpaces benchmark in weak quarter for large cap value stocks
  • Large cap value stocks ended the first quarter of 2015 in negative territory, with the Russell 1000® Value Index posting a return of -0.72%.
Harbor Mid Cap Value Fund
  • LSV Asset Management - 1st Quarter, 2015
  • Fund outpaces mid cap value benchmark, aided by stock selection
  • Mid cap value stocks registered positive results for the first quarter of 2015, with the Russell Midcap® Value Index posting a return of 2.42%.
Harbor Small Cap Value Fund
  • EARNEST Partners LLC - 1st Quarter, 2015
  • Stock selection boosts performance as Fund outpaces small cap value index
  • Value-oriented shares of smaller U.S. companies moved higher in the first quarter of 2015, with the the Russell 2000® Value Index posting a return of 1.98%.
Harbor International Fund
  • Northern Cross, LLC - 1st Quarter, 2015
  • International shares rebound in Q1, with most sectors moving higher
  • After posting a negative return for 2014, international equities rebounded in the first quarter of 2015.
Harbor International Growth Fund
  • Baillie Gifford Overseas Limited - 1st Quarter, 2015
  • Fund outperforms international equity benchmark, aided by Consumer stocks
  • International equities began the new year in positive territory, as the MSCI All Country World Ex. US (ND) Index returned 3.49% for the first quarter of 2015.
Harbor Global Growth Fund
  • Marsico Capital Management, LLC - 1st Quarter, 2015
  • Health Care stocks boost Fund's outperformance of global benchmark
  • Global equities recorded a positive return of 2.31% for the first quarter of 2015, as measured by the MSCI All Country World Index.
Harbor Emerging Markets Equity Fund
  • Oaktree Capital Management, L.P. - 1st Quarter, 2015
  • Emerging markets equities reverse course, move higher in Q1
  • After ending 2014 in negative territory, emerging markets equities reversed course in the first quarter of 2015.
Harbor Commodity Real Return Strategy Fund
  • Pacific Investment Management Company LLC - 1st Quarter, 2015
  • Decline in commodities continues in Q1
  • Commodities continued to struggle in the first quarter of 2015, as the Bloomberg Commodity Index Total ReturnSM posted a return of -5.94%.
Harbor Unconstrained Bond Fund
  • Pacific Investment Management Company LLC - 1st Quarter, 2015
  • Investment-grade securities post positive return for Q1
  • The U.S. bond market produced positive results for the first quarter of 2015. The Barclays U.S. Aggregate Bond Index, a measure of the broad taxable investment-grade U.S. bond market, returned 1.61% for the three months ended March 31, 2015.
Harbor Convertible Securities Fund
  • Shenkman Capital Management, Inc. - 1st Quarter, 2015
  • Convertibles market opens 2015 with Q1 advance
  • Convertible bonds generated positive results for the first quarter of 2015, as the BofA Merrill Lynch All US Convertibles Index posted a return of 2.97% for the three months ended March 31, 2015.
Harbor High-Yield Bond Fund
  • Shenkman Capital Management, Inc. - 1st Quarter, 2015
  • High yield market posts Q1 gain, outpacing investment-grade bonds
  • Bonds issued by lower-rated U.S. companies turned in a positive performance in the first quarter of 2015, with the BofA Merrill Lynch US High Yield Index, posting a return of 2.54%.
Harbor Bond Fund
  • Pacific Investment Management Company LLC - 1st Quarter, 2015
  • Fund outperforms benchmark as bond market advances in Q1
  • Investment-grade bonds generated positive results for the first quarter of 2015, with the Barclays U.S. Aggregate Bond Index posting a return of 1.61%.
Harbor Real Return Fund
  • Pacific Investment Management Company LLC - 1st Quarter, 2015
  • Inflation-linked bonds record positive return for Q1
  • U.S. inflation-linked bonds posted a return of 1.42% for the first quarter of 2015, as measured by the Barclays U.S. TIPS Index.
Harbor Money Market Fund
  • Fischer Francis Trees & Watts, Inc. - 1st Quarter, 2015
  • Money market returns hold at near-zero levels as investors await Fed action
  • Money market investments continued to generate near-zero returns in the first quarter of 2015, as investors pondered whether economic indicators in the year ahead would reflect sufficient strength to warrant an increase in short-term interest rates by...

Performance data shown represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the past performance data shown. Investment returns and the value of an investment will fluctuate, and an investor's shares, when sold, may be worth more or less than their original cost. You can obtain performance data current to the most recent month-end (available within seven business days after the most recent month-end) by calling 800-422-1050 or visiting www.harborfunds.com.

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.