Harbor Commodity Real Return Strategy Fund Institutional Class (HACMX)

Institutional Class | Administrative Class
Fund Facts
Price (NAV) (02/03/2012) $7.25
Daily $ Change $0.02 
Daily % Change 0.28% 
YTD Return (02/03/2012) 5.22%
Current 30-Day SEC Yield (02/03/2012) 0.46%
Effective 30-Day SEC Yield (02/03/2012) 0.46%
Average Annual Total Returns Since Inception (As of 01/31/2012) -2.06%
Inception Date 9/2/2008
Net Expense Ratio 0.94%
Gross Expense Ratio 1.13%
Portfolio Manager
Pacific Investment Management Company LLC (PIMCO)
Mihir Worah
Total Net Assets (01/31/2012) $313.255 million
Overall Morningstar Rating
(47 Commodities Broad Basket funds)
Ticker HACMX
Fund Number 2029
CUSIP 411511397
WSJ Symbol n/a
Overview

The Harbor Commodity Real Return Strategy Fund is subadvised by Pacific Investment Management Company LLC (PIMCO) . The Fund invests in commodity-linked derivatives backed by a portfolio of inflation-indexed securities and other fixed income instruments. Rather than invest directly in physical commodities such as oil, metals or agricultural products, the Fund employs an enhanced index strategy by investing primarily in those instruments linked to the Dow Jones-UBS Commodity Index Total ReturnSM; (the "Commodity Index"). The instruments in which the Fund may invest include:

  • Commodity index-linked notes
  • Swap agreements
  • Commodity options, futures and options on futures
  • Inflation-indexed bonds
  • Other fixed income securities including derivative fixed income instruments
  • Common and preferred stocks
  • Convertible securities of issuers in commodity-related industries

The Commodity Index is structured so that no related group of commodities may constitute more than 33% of the index and no single commodity may constitute more than 15% or less than 2% of the index. The Fund will seek to gain exposure to the commodity markets primarily through investments in commodity index-linked notes and through investments in Harbor Cayman Commodity Fund Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands. The Fund may invest up to 25% of its total assets in this subsidiary, 30% in securities denominated in foreign currencies, and 10% in securities and instruments that are economically tied to emerging market countries. The Fund will typically limit its foreign currency exposure to 20% of its total assets.

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Performance Summary Performance Details >

As of Quarter-Ended 12/31/2011
YTD1 Year5 Year10 YearSince Inception
-7.66%-7.66%N/AN/A-3.40%

Growth of a Hypothetical $10,000 Investment

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 Dow Jones-UBS Commodity Index Total ReturnSM is composed of futures contracts on 19 physical commodities. This unmanaged index does not reflect fees and expenses and is not available for direct investment

The Harbor Commodity Real Return Strategy Fund received a 4-star Overall Morningstar Rating™ as of 12/31/2011 out of 47 Commodities Broad Basket funds. Commodity Real Return Strategy Fund was rated 4-star among 47 domestic Commodities Broad Basket funds for the three-year period ended 12/31/2011. The Morningstar Rating is for the Institutional share class only; other classes may have different performance characteristics.

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Overview Strategy Performance Holdings Management Fees & Expenses Documents

Contractual expense limitation until 02/29/2012

The acquired fund fees and expenses (AFFE) are the expenses indirectly incurred by the Fund as a result of its investments during the most recent fiscal period in investment companies and other pooled investment vehicles.

The Adviser has contractually agreed to limit the Fund's operating expenses through February 29, 2012.  Only the Board of Trustees may modify or terminate this agreement.

Other Expenses and Total Annual Fund Operating Expenses have been restated to reflect current fees.

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.

The effective 30-day yield represents the average daily dividends for the 30 days, assuming all dividends are reinvested, annualized by 365 days and divided by the net asset value per share at the end of the period.

The current 30-day yield represents the average daily dividends for 30 days, annualized by 365 days and divided by the net asset value per share at the end of the period.

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.