The Subadviser seeks capital appreciation through country selection, sector selection, security selection and currency selection. The Subadviser uses a "top-down" approach and allocates the Fund's investments among various emerging market countries. In allocating among different countries, the following are some of the factors the Subadviser may consider:
As of Quarter Ended 09/30/2014
YTD 1 Year 5 Year 10 Year Since Inception 2.07% 0.37% N/A N/A 0.31%
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 Harbor Emerging Markets Debt Fund uses a blended benchmark index consisting of 50% of the JP Morgan Emerging Markets Bond Index – Global Diversified Index and 50% of the JPMorgan Government Bond Index - EM Global Diversified index. The JP Morgan Emerging Markets Bond Index – Global Diversified tracks total returns for U.S. dollar-denominated debt instruments issued by emerging markets sovereign and quasi-sovereign entities. The JPMorgan Government Bond Index - EM Global Diversified tracks total returns for local currency debt instruments issued by emerging markets sovereign and quasi-sovereign entities to which international investors can gain exposure. The Blended Benchmark therefore represents a 50% weighting to U.S. dollar denominated emerging market debt securities and 50% weighting to local currency denominated emerging market debt securities, which is intended to reflect the Harbor Emerging Market Debt Fund's target exposure of 50% of the Fund's portfolio to U.S. dollar denominated emerging market debt securities and 50% to local currency denominated emerging market debt securities. This unmanaged index does not reflect fees and expenses and is not available for direct investment. Information obtained from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission and may not be copied, used, or distributed without J.P. Morgan's prior written approval. Copyright 2012, J.P. Morgan Chase & Co. All rights reserved.
The Harbor Emerging Markets Debt Fund received a 2-star Overall Morningstar Rating™ as of 10/31/2014 out of 200 Emerging Markets Bond funds. Emerging Markets Debt Fund was rated 2-star among 200 domestic Emerging Markets Bond funds for the three-year period ended 10/31/2014. The Morningstar Rating is for the Administrative share class only; other classes may have different performance characteristics.