News & Commentary

Fund Manager Commentary
Harbor Capital Appreciation Fund
  • 1st Quarter, 2019
  • We believe the market's focus on company fundamentals and diminished macroeconomic worries in the first quarter favored the Fund's investment approach.
Harbor Strategic Growth Fund
  • 1st Quarter, 2019
  • The pause in central bankers' tightening of interest rates helped equity valuations expand, propelling the best quarterly start to a year for equities in almost three decades.
Harbor Mid Cap Growth Fund
  • 1st Quarter, 2019
  • Coming off a volatile end to 2018, we welcomed a strong start to 2019. In general, we have become more optimistic in our outlook for equity markets going forward.
Harbor Small Cap Growth Fund
  • 1st Quarter, 2019
  • We continue to find exciting opportunities in areas that offer secular growth and innovation and maintain our preference for quality businesses with clean balance sheets.
Harbor Small Cap Growth Opportunities Fund
  • 1st Quarter, 2019
  • We continue to believe that stock prices will ultimately reflect the fundamental performance of the underlying businesses, and market behavior over the short-term generally tends to be technical in nature, rather than fundamental.
Harbor Large Cap Value Fund
  • 1st Quarter, 2019
  • We focus our intellectual capital on understanding long-term business values independent of market conditions.
Harbor Mid Cap Value Fund
  • 1st Quarter, 2019
  • Despite the first-quarter rally in equity markets, the Harbor Mid Cap Value Fund continues to trade at attractive valuations relative to the benchmark and relative to history.
Harbor Small Cap Value Fund
  • 1st Quarter, 2019
  • Following the sell-off in December of 2018, investors tended to be more focused on fundamentals and earnings coming into 2019. That tends to be a favorable environment for the Fund.
Harbor Small Cap Value Opportunities Fund
  • 1st Quarter, 2019
  • In our view, excess returns will likely come to those investors who are best able to carefully navigate between the 'news' and the 'noise,' selecting stocks with a disciplined process that identifies companies with overlooked return potential.
Harbor International Fund
  • 1st Quarter, 2019
  • While we are taking advantage of price dislocations and establishing new, often more 'cyclical' positions where relative valuations present the opportunity to do so, we remain focused on downside protection with a quality tilt.
Harbor Diversified International All Cap Fund
  • 1st Quarter, 2019
  • We believe the recent uptick in market volatility and increased prospects for future equity market retrenchment would likely be a more favorable backdrop given the Fund's positioning and characteristics profile.
Harbor International Growth Fund
  • 1st Quarter, 2019
  • Our investment approach remains unchanged. We do not feel we have an edge in predicting market movements, and we therefore remain focused on the analysis of company fundamentals.
Harbor International Small Cap Fund
  • 1st Quarter, 2019
  • Although valuations have risen following the strength of equity markets in the first quarter, our bottom-up approach and focus on individual companies' ability to improve profitability and returns over the longer term will not change.
Harbor Global Leaders Fund
Harbor Emerging Markets Equity Fund
  • 1st Quarter, 2019
  • As opposed to forecasting themes or trends, our main focus is to follow our bottom-up process to find good quality names, no matter the country or sector, which we believe will perform well over the long-term.
Harbor Convertible Securities Fund
  • 1st Quarter, 2019
  • Looking forward, similar to the start of 2019, we believe that the overall prospects for convertible securities remain positive.
Harbor High-Yield Bond Fund
  • 1st Quarter, 2019
  • We believe that with more global fixed income assets offering negative yields, low global growth, and stable U.S. interest rate expectations, investors may increasingly look for quality credits offering yield and avoid chasing risk for principal gains.
Harbor High-Yield Opportunities Fund
Harbor Bond Fund
  • 1st Quarter, 2019
  • We still have a preference for U.S. duration versus rate exposure in other developed regions, including the U.K. and Japan.
Harbor Core Bond Fund
  • 1st Quarter, 2019
  • Allocation shifts were made on the margin over the quarter, as we took advantage of spread tightening by monetizing tighter-trading corporate bonds, and increased the Fund's exposure to attractive securitized sectors.
Harbor Real Return Fund
  • 1st Quarter, 2019
  • Fund performance benefited from our long U.S. position versus U.K. and eurozone breakeven inflation (BEI) expectations, given what we believe are still attractive valuations in the U.S. and richness in U.K. and European markets.
Harbor Money Market Fund

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 harborfunds.com.

Performance figures discussed reflect that of the institutional class shares.

The views expressed herein are those of the portfolio manager at the time of the interview and may not be reflective of their current opinions or future actions.  These views are not necessarily those of the fund company and should not be construed as such.

This information should not be considered as a recommendation to purchase or sell a particular security and the holdings or sectors mentioned may change at any time and may not represent current or future investments.