News & Commentary

Harbor Funds Appoints Aristotle to Manage Harbor Large Cap Value Fund
May 23, 2012

The Harbor Funds Board of Trustees appointed Aristotle Capital Management, LLC as subadviser to the Harbor Large Cap Value Fund effective May 25, 2012.  Aristotle succeeds Cohen & Steers Capital Management, Inc., which had served as subadviser since June 19, 2007. 

"We wish to thank Cohen & Steers for their dedicated service to Large Cap Value Fund shareholders," said Harbor Funds Chairman David G. Van Hooser.

Howard Gleicher, CFA, Chief Executive Officer and Chief Investment Officer of Aristotle, will be the portfolio manager for the Harbor Large Cap Value Fund.  Mr. Gleicher has 27 years of investment experience and has led the investment effort of Aristotle since 2010.  Prior to founding Aristotle, Mr. Gleicher was co-founder, Chief Executive Officer and Chief Investment Officer at Metropolitan West Capital Management, LLC from 1997 to 2010.  Aristotle is an investment adviser specializing in large cap value stocks.  The firm is headquartered in Los Angeles and manages approximately $1.9 billion in assets.

Harbor Large Cap Value Fund has an investment goal of long-term total return by investing in equity securities, principally common and preferred stocks, of companies with market capitalizations that fall within the range of the Russell 1000® Value Index.  The Fund had net assets of approximately $300 million as of April 30, 2012.

Aristotle uses a fundamental, bottom-up, research-driven approach to identify companies for investment.  Aristotle focuses on companies that it believes have higher quality businesses and that are undervalued by the market relative to what Aristotle believes to be their fair value.  Aristotle also looks for one or more catalysts that may help the company realize that fair value.  Under normal market conditions, Aristotle expects to invest in approximately 35 to 45 companies.

Stocks fluctuate in price and the value of an investment in the Harbor Large Cap Value Fund may go down.  Over time, a value-oriented investing style may go in and out of favor, which may cause the Fund to sometimes underperform equity funds that use different investing styles. 

The Harbor Funds lineup of actively managed, no-load mutual funds had combined net assets of $66 billion as of April 30, 2012.  Each Harbor fund is managed by an institutional investment firm selected by Harbor Capital Advisors, Inc. based on the firm's experience in a specific asset class.