News & Commentary

Fund Manager Commentary
Harbor Capital Appreciation Fund
  • Jennison Associates LLC - 3rd Quarter, 2017
  • Equity markets remained buoyant during the third quarter
  • Equity markets remained buoyant during the third quarter of 2017. Major U.S. indexes hit record levels during the period, supported by continued earnings gains and favorable economic da
Harbor Strategic Growth Fund
  • Mar Vista Investment Partners, LLC - 3rd Quarter, 2017
  • Positive economic news underpinned equity gains in the third quarter of 2017
  • Macro data continued to support a synchronized global economic recovery during the third quarter.
Harbor Mid Cap Growth Fund
  • Wellington Management Company LLP - 3rd Quarter, 2017
  • The U.S. equity market rose in the third quarter
  • U.S. equities rose for the eighth consecutive quarter in the third quarter of 2017.
Harbor Small Cap Growth Fund
  • Westfield Capital Management Company, L.P. - 3rd Quarter, 2017
  • The U.S. small cap growth equity market rose in the third quarter
  • The U.S. stock market acted similarly in the third quarter of 2017 as it did during the first half of the year—a slow but steady march forward.
Harbor Small Cap Growth Opportunities Fund
  • Elk Creek Partners, LLC - 3rd Quarter, 2017
  • Investor sentiment swung through several distinct moods during the period
  • There were no significant macroeconomic-level events that impacted the domestic small cap growth equity market during the third quarter of 2017, although investor sentiment swung through several distinct moods during the period.
Harbor Large Cap Value Fund
  • Aristotle Capital Management, LLC - 3rd Quarter, 2017
  • Fund outperforms as markets rise
  • U.S. equities delivered strong, broad based gains during the third quarter, as stocks continued their ascent despite increasing geopolitical tensions, divisive rhetoric in Washington and three major hurricanes which caused devastation across several...
Harbor Mid Cap Value Fund
  • LSV Asset Management - 3rd Quarter, 2017
  • U.S. equities post strong third quarter results
  • U.S. equities posted strong results in the third quarter of 2017. Small cap stocks led the market, particularly in September.
Harbor Small Cap Value Fund
  • EARNEST Partners LLC - 3rd Quarter, 2017
  • The Fund outperformed in a strong quarter for small cap stocks
  • The U.S. small cap equity market maintained a positive trajectory for the third quarter of 2017, rising along with equities generally.
Harbor Small Cap Value Opportunities Fund
  • Sapience Investments, LLC - 3rd Quarter, 2017
  • New fund seeks to find value in small-cap U.S. stocks
  • The Harbor Small Cap Value Opportunities Fund launched on August 1, 2017, managed by Sapience Investments, LLC.
Harbor International Fund
  • Northern Cross, LLC - 3rd Quarter, 2017
  • Another strong quarter for international stocks
  • International markets continued their expansion in the third quarter of 2017, bringing year-to-date total returns into double-digit territory.
Harbor Diversified International All Cap Fund
  • Marathon Asset Management LLP (Marathon-London) - 3rd Quarter, 2017
  • Improved economic indicators drove markets higher
  • Apart from a slight dip in the first half of August, equity markets generally rose over the third quarter of 2017, as improved economic indicators, particularly from the eurozone, and a positive first-half reporting season drove markets higher.
Harbor International Growth Fund
  • Baillie Gifford Overseas Limited - 3rd Quarter, 2017
  • Broad market expansion and a beneficially weak U.S. Dollar
  • The third quarter of 2017 was another positive period for International Markets, taking year-to-date total returns comfortably into double-digit territory.
Harbor International Small Cap Fund
  • Baring International Investment Limited (Barings) - 3rd Quarter, 2017
  • U.S. business confidence boosts growth forecasts
  • In the third quarter of 2017, a sharp improvement in U.S. business confidence provided encouragement for more positive forecasts for global economic growth.
Harbor Global Leaders Fund
  • Sands Capital Management, LLC - 3rd Quarter, 2017
  • A strong quarter for global equities and economic growth
  • U.S. growth equities steamed ahead in the third quarter of 2017 amid robust earnings and low volatility.
Harbor Emerging Markets Equity Fund
  • Oaktree Capital Management, L.P. - 3rd Quarter, 2017
  • Emerging market equities continue to beat developed market peers
  • Emerging markets advanced during the third quarter of 2017 and continued to outperform developed markets, despite a marginal decline in September, the first down month of 2017.
Harbor Commodity Real Return Strategy Fund
  • Pacific Investment Management Company LLC - 3rd Quarter, 2017
  • The Fund outperformed against a favorable market backdrop
  • Although rising geopolitical tensions and political dysfunction in the U.S. characterized most of the third quarter of 2017, markets appeared to roll with the punches as a solid fundamental backdrop continued to support a robust risk appetite.
Harbor Convertible Securities Fund
  • Shenkman Capital Management, Inc. - 3rd Quarter, 2017
  • The U.S. convertible securities market had a positive return
  • The macroeconomic changes that we saw developing in the fourth quarter of 2016 have continued to play out thus far in 2017.
Harbor High-Yield Bond Fund
  • Shenkman Capital Management, Inc. - 3rd Quarter, 2017
  • The U.S. economy continued to experience solid growth
  • The macroeconomic changes we saw developing in late 2016 have continued to play out thus far in 2017.
Harbor Bond Fund
  • Pacific Investment Management Company LLC - 3rd Quarter, 2017
  • The Fund outperformed on the strength of its allocation choices
  • Although rising geopolitical tensions and political dysfunction in the U.S. characterized most of the third quarter of 2017, markets appeared to roll with the punches as a solid fundamental backdrop continued to support a robust risk appetite.
Harbor Real Return Fund
  • Pacific Investment Management Company LLC - 3rd Quarter, 2017
  • The Fund outperformed its benchmark and the bond market
  • Although rising geopolitical tensions and political dysfunction in the U.S. characterized most of the third quarter of 2017, markets appeared to roll with the punches as a solid fundamental backdrop continued to support a robust risk appetite.
Harbor Money Market Fund
  • BNP Paribas Asset Management USA, Inc. - 3rd Quarter, 2017
  • Central banks weigh tightening policies as economic growth continues
  • The global economic expansion continued during the third quarter with advanced economies continuing to benefit from policy accommodation.

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.

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.