Harbor International Fund Institutional Class (HAINX)

Fund Facts
Price (NAV) (11/21/2017) $70.25
Daily $ Change $0.49 
Daily % Change 0.70% 
YTD Return (11/21/2017) 20.27%
Average Annual Total Returns Since Inception (As of 10/31/2017) 10.77%
Inception Date 12/29/1987
Net Expense Ratio 0.79%
Gross Expense Ratio 0.80%
Portfolio Manager
Northern Cross, LLC
Howard Appleby, CFA
Jean-Francois Ducrest
James LaTorre, CFA
Total Net Assets (10/31/2017) $27,437.464 million
Overall Morningstar Rating (593 Foreign Large Blend funds)
Ticker HAINX
Fund Number 2011
CUSIP 411511306
WSJ Symbol Intl Inst
Investment Style
The Harbor International Fund is subadvised by Northern Cross, LLC. The Fund invests primarily in common and preferred stocks of foreign large cap companies, including those located in countries with emerging markets. Companies in the Fund's portfolio generally have market capitalizations in excess of $1 billion at the time of purchase.

When considering securities for the Fund, the portfolio manager uses an analysis of economic and market data as well as their knowledge of each country's political, social and economic culture. Using a value-oriented, bottom-up approach, the portfolio manager also looks for:

  • Businesses that the portfolio manager believes offer value
  • Low price/earnings multiples relative to other stocks in the country or industry
  • Above average, long-term earnings expectation that is not reflected in the price

The Fund typically invests in a minimum of ten countries throughout the world at a time, and focuses on companies located in Europe, the Pacific Basin, and emerging industrialized nations whose economies and political regimes appear stable.

Performance Summary Performance Details >

As of Quarter Ended 09/30/2017
YTD1 Year5 Year10 YearSince Inception

Growth of a Hypothetical $10,000 Investment

Source: Morningstar, Inc.

Potential Risk & Return - International & Global Funds

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 or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.

The MSCI EAFE (ND) Index is an unmanaged index generally representative of major overseas stock markets. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

The Harbor International Fund received a 3-star Overall Morningstar Rating™ as of 10/31/2017 out of 593 Foreign Large Blend funds. International Fund was rated 2-star among 593, 2-star among 531, and 3-star among 341 domestic Foreign Large Blend funds for the three-, five- and ten-year periods ended 10/31/2017, respectively. The Morningstar Rating is for the Institutional share class only; other classes may have different performance characteristics.

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

©2017 Morningstar. All Rights Reserved. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial advisor which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement.

The management fee rate is 0.75% on assets up to $12 billion and 0.65% on assets in excess of $12 billion. The Adviser has contractually agreed to reduce the management fee to 0.63% on assets between $24 billion and $36 billion, and to 0.58% on assets between $36 billion and $48 billion and 0.57% on assets over $48 billion through February 28, 2018. Only the Fund's Board of Trustees may modify or terminate this agreement.

Restated to reflect current fees.

Restated to reflect current fees.

The management fee rate is 0.75% on assets up to $12 billion and 0.65% on assets in excess of $12 billion. The Adviser has contractually agreed to reduce the management fee to 0.63% on assets between $24 billion and $36 billion, and to 0.58% on assets between $36 billion and $48 billion and 0.57% on assets over $48 billion through February 28, 2018. Only the Fund's Board of Trustees may modify or terminate this agreement. 

Contractual management fee waiver through February 28, 2018

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.

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.