Harbor Global Value Fund Institutional Class (HAGVX)

Investor Class | Institutional Class | Administrative Class
Fund Facts
Price (NAV) (05/17/2013) $6.97
Daily $ Change $0.08 
Daily % Change 1.16% 
YTD Return (05/17/2013) 14.45%
Average Annual Total Returns Since Inception (As of 04/30/2013) -2.86%
Inception Date 08/07/2006
Net Expense Ratio 0.90%
Gross Expense Ratio 2.26%
Portfolio Manager
Causeway Capital Management LLC
Sarah H. Ketterer
Harry W. Hartford
James A. Doyle
Jonathan P. Eng
Kevin Durkin
Conor Muldoon
Total Net Assets (04/30/2013) $6.316 million
Overall Morningstar Rating
(742 World Stock funds)
Ticker HAGVX
Fund Number 2027
CUSIP 411511447
WSJ Symbol n/a
Investment Style
Overview
The Harbor Global Value Fund, subadvised by Causeway Capital Management LLC, invests primarily in equity securities, principally common stocks of companies located throughout the world, including the United States and developed and emerging market countries.  The Fund expects to invest the majority of its assets in companies that pay dividends or repurchase their shares.

When investing the Fund's assets, the Subadviser follows a value style.  This means that the Subadviser buys stocks that it believes have lower prices than their true worth.  For example, stocks may be "undervalued" because the issuing companies are part of industries that are currently out of favor with investors.  However, even in those industries, certain companies may have high rates of growth of earnings and be financially sound.

When purchasing or selling individual securities, the Subadviser considers each of the following value characteristics:

  • Low price-to-earnings ratio relative to the sector in which the company operates
  • Higher yield (measured in both dividends and share repurchases) relative to the market
  • Low price-to-book value ratio relative to the market
  • Low price-to-cash flow ratio relative to the market
  • Financial strength of the company

Generally, the Subadviser considers price-to-earnings and yield as the most important of these value characteristics.  Under normal market circumstances, the Fund will invest at least 40% of its total assets in companies located in a number of countries outside the U.S.

Get a prospectus >> |Read fund manager commentary: PDF|HTML

Performance Summary Performance Details >

As of Quarter-Ended 03/31/2013
YTD1 Year5 Year10 YearSince Inception
6.40%3.56%-2.34%N/A-3.25%

Growth of a Hypothetical $10,000 Investment

Potential Risk & Return - International & Global Funds

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.

The Harbor Funds performance shown assumes the reinvestment of dividend and capital gain distributions and is net of management fees and expenses. Returns for periods less than one year are not annualized.

From time to time, certain fees and/or expenses have been voluntarily waived, which has resulted in higher returns. Without these waivers, the returns would have been lower. Voluntary waivers may be applied or discontinued at any time without notice.

The MSCI World Index is a free float-adjusted market capitalization index that is designed to measure global developed market equity performance. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

The Harbor Global Value Fund received a 1-star Overall Morningstar Rating™ as of 04/30/2013 out of 742 World Stock funds. Global Value Fund was rated 1-star among 742 and 1-star among 586 domestic World Stock funds for the three- and five-year periods ended 04/30/2013, respectively. The Morningstar Rating is for the Institutional share class only; other classes may have different performance characteristics.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar risk-adjusted return measure that accounts for variations in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

© 2012 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

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Overview Strategy Performance Holdings Management Fees & Expenses Documents

Contractual expense limitation until February 28, 2014

Contractual management fee waiver until February 28, 2014

Other Expenses, Total Annual Fund Operating Expenses and Total Annual Fund Operating Expenses After Fee Waiver have been restated to reflect current fees.

The Adviser has contractually agreed to reduce the management fee to 0.75%through February 28, 2014. Only the Board of Trustees may modify or terminate this agreement.

Other Expenses, Total Annual Fund Operating Expenses and Total Annual Fund Operating Expenses After Fee Waiver have been restated to reflect current fees.

The Adviser has contractually agreed to limit the Fund's operating expenses through February 28, 2014.  Only the Board of Trustees may modify or terminate this agreement.

The Adviser has contractually agreed to reduce the management fee to 0.75%through February 28, 2014. Only the Board of Trustees may modify or terminate this agreement.

The Adviser has contractually agreed to limit the Fund's operating expenses through February 28, 2014.  Only the Board of Trustees may modify or terminate this agreement.

The Adviser has contractually agreed to reduce the management fee to 0.75%through February 28, 2014. Only the Board of Trustees may modify or terminate this agreement.

Ex-Date. The date on which a Fund's net asset value (NAV) will fall by an amount equal to the dividend and/or capital gain distribution plus or minus any change in the value of the Fund's holdings.

About Expense Ratios: All mutual funds have expense ratios which represent what shareholders pay for operating expenses and management fees. Expense ratios are expressed as an annualized percentage of a fund's average net assets paid out in expenses. Net expense ratios reflect adjustments due to voluntary or contractual fee waivers or expense reimbursements. Expense ratio information is as of the Fund's current prospectus, as revised and supplemented from time to time.