Harbor Emerging Markets Debt Fund Administrative Class (HREDX)

Institutional Class | Administrative Class
Fund Facts
Price (NAV) (05/21/2013) $10.24
Daily $ Change -$0.03 
Daily % Change -0.29% 
YTD Return (05/21/2013) -0.22%
Current 30-Day SEC Yield (05/21/2013) 2.92%
Effective 30-Day SEC Yield (05/21/2013) 2.96%
Average Annual Total Returns Since Inception (As of 04/30/2013) 5.69%
Inception Date 05/01/2011
Net Expense Ratio 1.20%
Gross Expense Ratio 2.58%
Portfolio Manager
Stone Harbor Investment Partners LP
Peter J. Wilby, CFA
Pablo Cisilino
Angus Halkett, PhD, CFA
James E. Craige, CFA
David A. Oliver, CFA
William Perry
Total Net Assets (04/30/2013) $0.279 million
Ticker HREDX
Fund Number 2235
CUSIP 411512742
WSJ Symbol n/a
Overview
The Fund, subadvised by Stone Harbor Investment Partners LP, invests primarily in fixed income securities and derivative instruments that economically are tied to countries with emerging securities markets, are denominated in the predominant currency of the local market of an emerging market country or whose performance is linked to those countries' markets, economies or ability to repay loans. It is anticipated that the Fund will focus most of its investments in Asia, Africa, the Middle East, Latin America and the developing countries of Europe.

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:

  • Currency, inflation and interest rates and trends
  • Growth rate forecasts
  • Liquidity of a country's debt markets
  • Fiscal policies
  • Political and economic outlook and
  • Tax environment

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Performance Summary Performance Details >

As of Quarter-Ended 03/31/2013
YTD1 Year5 Year10 YearSince Inception
-1.10%6.32%N/AN/A4.61%

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 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 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.

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Overview Strategy Performance Holdings Management Fees & Expenses Documents

The Adviser has contractually agreed to limit the Fund's operating expenses through February 28, 2014.  Only the Board of Trustees may modify or terminate this agreement.

Contractual expense limitation until February 28, 2014.

The Adviser has contractually agreed to limit the Fund's operating expenses through February 28, 2014.  Only the 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.

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.

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.

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.