Harbor Global Value Fund Institutional Class (HAGVX)

Investor Class | Institutional Class | Administrative Class
Fund Facts
Price (NAV) (09/08/2010) $6.16
Daily $ Change $0.04 
Daily % Change 0.65% 
YTD Return (09/08/2010) -1.12%
Average Annual Total Returns Since Inception (As of 08/31/2010) -9.68%
Inception Date 8/7/2006
Net Expense Ratio 1.02%
Gross Expense Ratio 1.21%
Portfolio Manager
Pzena Investment Management, LLC
John Goetz
Michael Peterson
Caroline Cai, CFA
Total Net Assets (08/31/2010) $47.936 million
Overall Morningstar Rating
(593 World Stock funds)
Ticker HAGVX
Fund Number 2027
CUSIP 411511447
WSJ Symbol n/a
Overview

The Harbor Global Value Fund is subadvised by Pzena Investment Management, LLC. The Fund invests primarily in equity securities – mainly common stocks – of companies located throughout the world, including the U.S., developed and emerging market countries. Companies in the portfolio typically have market capitalizations in excess of $2 billion at the time of purchase.

The portfolio manager looks to identify companies that are undervalued relative to their long-term earnings potential, ranks them using a quantitative screening process, and then researches those that are the least expensive. The manager examines whether the problems that caused the company's earnings shortfall are permanent or temporary and selects the security for investment only when it's believed:

  • The company's problems are temporary
  • Management has a viable strategy to generate earnings recovery
  • There is meaningful downside protection in case the earnings recovery does not materialize

The Fund looks to invest in approximately 40-60 companies in a minimum of five countries, one of which may be the U.S. The Fund normally sells a security when the portfolio manager determines it has reached its target price; there has been a major change in the company's business; the expectations of earnings appear unlikely to be met or a more desirable investment opportunity has surfaced.

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

Performance Summary Performance Details >

As of Quarter-Ended 06/30/2010
YTD1 Year5 Year10 YearSince Inception
-9.63%15.22%N/AN/A-11.04%

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 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 07/31/2010 out of 593 World Stock funds. Global Value Fund was rated 1-star among 593 domestic World Stock funds for the three-year period ended 07/31/2010. 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.

© 2010 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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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.

Contractual until 02/28/2011

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.