Harbor Diversified International All Cap Fund Institutional Class (HAIDX)

Fund Facts
Price (NAV) (08/21/2017) $11.23
Daily $ Change $0.00 
Daily % Change 0.00% 
YTD Return (08/21/2017) 16.61%
Average Annual Total Returns Since Inception (As of 07/31/2017) 8.22%
Inception Date 11/02/2015
Net Expense Ratio 0.85%
Gross Expense Ratio 1.23%
Portfolio Manager
Marathon Asset Management LLP
Neil M. Ostrer
William J. Arah
Charles Carter
Nick Longhurst
Michael Godfrey, CFA
David Cull, CFA
Robert Anstey, CFA
Simon Somerville
Total Net Assets (07/31/2017) $191.638 million
Ticker HAIDX
Fund Number 2038
CUSIP 411512593
Overview
The Harbor Diversified International All Cap Fund is subadvised by Marathon Asset Management LLP. The Fund invests primarily (no less than 65% of its total assets) in common and preferred stocks of foreign companies, including those located in emerging market countries. The Subadviser's investment strategy focuses on identifying attractive long-term investment opportunities that can arise as a result of certain capital cycle, or supply-side, conditions. Capital cycle investing is based on the concept that the prospect of high returns will attract excessive capital and competition, and vice versa. The assessments of how management responds to the forces of the capital cycle through their capital allocation strategy and how they are incentivised are both critical to the investment outcome.

While capital cycles are often observed at an industry level, particularly where the investment merits of an individual business are influenced by the rationality of actors within a given competitive ecosystem, they are first identified through bottom-up analysis at the company level. Research meetings with company management represent the majority of analytical effort conducted by the Subadviser. Business attributes that the Subadviser finds attractive include companies that:

  • Deploy capital effectively and efficiently
  • Have high insider ownership and/or where company management are appropriately incentivised to focus on long-term results
  • Operate in a monopolistic, oligopolistic or consolidating industry
  • Show improving or high and sustainable returns on invested capital
  • Generate attractive or improving free-cash-flow

Performance Summary Performance Details >

As of Quarter Ended 06/30/2017
YTD1 Year5 Year10 YearSince Inception
14.33%18.95%N/AN/A6.85%

Growth of a Hypothetical $10,000 Investment

Source: Morningstar, Inc.

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 or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.

The MSCI All Country World Ex. US (ND) Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market performance in the global developed and emerging markets, excluding the United States. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

©2017 Morningstar. All Rights Reserved. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial advisor which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement.


Restated to reflect current fees.

Restated to reflect current fees.

The Adviser has contractually agreed to limit the Fund's operating expenses, excluding interest expense (if any), to 0.85%, 1.10%, 1.22% and 0.77% for the Institutional Class, Administrative Class, Investor Class and Retirement Class, respectively, through February 28, 2018. Only the Fund's 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.

Contractual expense limitation, excluding interest expense, if any, through February 28, 2018.

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.