Harbor Convertible Securities Fund Institutional Class (HACSX)

Fund Facts
Price (NAV) (07/22/2014) $11.47
Daily $ Change $0.03 
Daily % Change 0.26% 
YTD Return (07/22/2014) 5.68%
Current 30-Day Subsidized SEC Yield (07/22/2014) 0.80%
Current 30-Day Unsubsidized SEC Yield (07/22/2014) 0.79%
Effective 30-Day Subsidized SEC Yield (07/22/2014) 0.80%
Effective 30-Day Unsubsidized SEC Yield (07/22/2014) 0.80%
Average Annual Total Returns Since Inception (As of 06/30/2014) 7.14%
Inception Date 05/01/2011
Net Expense Ratio 0.79%
Gross Expense Ratio 0.79%
Portfolio Manager
Shenkman Capital Management, Inc.
Mark Shenkman
Raymond F. Condon
Total Net Assets (06/30/2014) $322.223 million
Ticker HACSX
Fund Number 2034
CUSIP 411512734
WSJ Symbol n/a
Investment Style
Overview
The Fund, subadvised by Shenkman Capital Management, Inc. invests primarily in convertible securities of U.S. and non-U.S. corporate issuers. Convertible securities are "hybrid" securities that possess both fixed income and equity characteristics, and include corporate bonds, preferred stocks and other types of securities that are convertible into common stock or its equivalent value.

While the Fund has broad discretion to invest in all types of convertible securities, the Fund focuses primarily on investments in convertible bonds. The Fund also focuses primarily on convertible securities of corporate issuers with debt rated below investment grade, commonly referred to as "high yield" or "junk bonds." The Fund invests primarily in U.S. dollar denominated securities; however the Fund may invest in securities denominated in other currencies.

The Subadviser seeks to maximize portfolio return and minimize default risk by adhering to the following elements of its philosophy when selecting securities for investment:

  • Bottom-up, fundamental analysis
  • Broad diversification
  • Direct communication with management
  • Monitoring issuers on a systematic basis
  • Credit committee disciplined approach
  • Comprehensive reporting and risk control systems

Performance Summary Performance Details >

As of Quarter Ended 06/30/2014
YTD1 Year5 Year10 YearSince Inception
5.96%13.94%N/AN/A7.14%

Growth of a Hypothetical $10,000 Investment

Source: Morningstar, Inc.

Potential Risk & Return - Fixed Income 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 BofA Merrill Lynch All US Convertibles Ex Mandatory Index is broadly representative of the U.S. convertible securities market, consisting of publicly traded issues, denominated in U.S. dollars, of all credit qualities, and excluding mandatory (equity-linked) convertibles. This unmanaged index does not reflect fees and expenses and is not available for direct investment.


Represents the average daily dividends for 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. Does not reflect reimbursements or fee waivers currently in effect.

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. Does not reflect reimbursements or fee waivers currently in effect.

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.

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. Reflects reimbursements or fee waivers currently in effect.

Represents the average daily dividends for 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. Reflects reimbursements or fee waivers currently in effect.

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.