News & Commentary

Harbor Funds Shareholders Elect Trustees; Long-serving Harbor Funds Board Chairman Retires Following Elections
September 28, 2017

At a special meeting held on September 22, 2017, the shareholders of Harbor Funds elected six Trustees to the Board of Trustees of Harbor Funds. Three of the newly elected Trustees -- Scott M. Amero, Robert A. Kasdin and Ann M. Spruill -- were appointed to the Board in 2014 in connection with the retirement of two long-standing Trustees. The remaining three -- Joseph L. Dowling III, Charles F. McCain and Kathryn L. Quirk -- are new members of the Board.

The Board of Trustees of Harbor Funds now consists of nine members. Eight of the nine are independent of Harbor Capital Advisors, Inc., the investment adviser to Harbor Funds. Mr. McCain is the sole interested trustee by virtue of his role with Harbor Capital Advisors, Inc.

Mr. McCain has assumed the role of Chairman of the Board of Trustees and as the sole interested trustee. Mr. McCain replaces David G. Van Hooser who retired from the Board of Trustees at the conclusion of the shareholders meeting on September 22, 2017. Mr. Van Hooser had served in those roles for Harbor Funds since 2000.

Mr. Van Hooser also retired from his role as Chief Executive Officer of Harbor Capital Advisors on September 25, 2017 after serving in that role since 2000. Mr. Van Hooser will remain as Chairman of the Board of Directors of Harbor Capital Advisors going forward. As part of the succession plan for Mr. Van Hooser, Mr. McCain assumed the role of Chief Executive Officer of Harbor Capital Advisors. Mr. McCain joined Harbor Capital Advisors in 2004 as General Counsel and Chief Compliance Officer and served most recently as President and Chief Operating Officer for Harbor Capital Advisors. He previously also served as the Chief Compliance Officer for Harbor Funds.

"We are extremely pleased to have Katie Quirk and Joe Dowling join the Harbor Funds Board. Each brings extensive investment and business experience to the Board, and each shares the Board's commitment to acting in the best interests of fund shareholders" said Harbor Funds Chairman Charles McCain. "I also want to commend Dave Van Hooser for his remarkable commitment and for his significant contributions to Harbor Funds and its shareholders. Dave has worked passionately to serve the best interests of Harbor Funds and its shareholders over the past seventeen years. While he served as both a Trustee of Harbor Funds and as the Chief Executive Officer for Harbor Capital Advisors, Dave always recognized and embraced his responsibility to place the interests of Harbor Funds and its shareholders first. He has served as an example for me and all of the employees of Harbor Capital Advisors who have had the privilege of working with him."

"It has been a privilege and an honor to have served as a Trustee of Harbor Funds and as Chief Executive Officer of Harbor Capital Advisors since 2000" said David Van Hooser. "Working with the outstanding women and men of the Board of Trustees of Harbor Funds and of Harbor Capital Advisors, we have always focused on acting in the best interests of Harbor Funds and its shareholders. I am very confident that the Board of Trustees of Harbor Funds and everyone at Harbor Capital Advisors will continue the focus on acting in the best interests of Harbor Funds and its shareholders going forward."

Also at the special meeting held on September 22, 2017, the shareholders of Harbor Funds were asked to approve amendments to the Funds' fundamental investment restrictions to permit the Funds to borrow from and lend to other Funds within the Harbor Funds family, subject to certain conditions including Board of Trustee oversight. Shareholders of all of the Funds except for five have approved those amendments. For the Harbor Commodity Real Return Strategy Fund, Harbor Mid Cap Value Fund, Harbor Real Return Fund, Harbor Small Cap Growth Opportunities Fund and Harbor Strategic Growth Fund, a sufficient number of shares had not yet voted as of September 22, 2017 to take action on the proposed amendments. Accordingly, the special shareholder meetings solely with respect to those five Funds have been adjourned until October 18, 2017 to allow more time for solicitation.