Harbor International Fund Institutional Class (HAINX)

Fund Facts
Price (NAV) (12/12/2018) $56.49
Daily $ Change $0.89 
Daily % Change 1.60% 
YTD Return (12/12/2018) -16.34%
Average Annual Total Returns Since Inception (As of 11/30/2018) 9.92%
Inception Date 12/29/1987
Net Expense Ratio 0.72%
Gross Expense Ratio 0.81%
Portfolio Manager
Marathon Asset Management LLP
Neil M. Ostrer
Charles Carter
Nick Longhurst
William J. Arah
Simon Somerville
Simon Todd, CFA
Michael Nickson, CFA
Michael Godfrey, CFA
David Cull, CFA
Total Net Assets (11/30/2018) $7,324.729 million
YTD Net Cash Flow (11/30/2018) -$14,864.513 million
Overall Morningstar Rating (636 Foreign Large Blend funds)
Ticker HAINX
Fund Number 2011
CUSIP 411511306
WSJ Symbol Intl Inst
Investment Style
Overview
Please Note:  On August 22, 2018, Harbor Funds appointed Marathon Asset Management LLP as subadviser to the Harbor International Fund.  For more information on this change, click here.

Related to this subadviser change, the Fund expects to make a significantly larger capital gains distribution in mid-December. For more information about that estimated capital gains distribution, click here.
 

Why invest in Harbor International Fund?

  • This is a broadly diversified fund that can serve as a core international equity holding in an investor's portfolio.
  • The fund strives for attractive, long-term returns by investing in a wide-ranging portfolio of foreign company stocks across styles (growth/value), market capitalizations and geographies.
  • The portfolio's modest exposure to emerging markets may appeal to those investors who prefer their foreign equity exposure to come primarily through developed international markets.
  • Marathon-London's capital cycle approach to investing focuses on identifying companies at different points in the capital cycles for their industries, including the high return phase where attractive companies are able to maintain their industry position in the face of increased competition and the depressed return phase where attractive companies show improvement in their businesses that is not reflected in the broader market.
  • Marathon-London's fundamental company research and long-term investment horizon generally results in significant differentiation from the benchmark index and longer holding periods.

Why did Harbor select Marathon Asset Management LLP to subadvise the fund?

  • Harbor has high conviction in the skill and competitiveness of Marathon-London's investment team.
  • Marathon-London has a track record of effectively implementing their capital cycle strategy in international equity markets for more than 30 years.
  • Marathon-London promotes individual accountability among portfolio managers by affording each portfolio manager the freedom, by region, to make their own stock and country selection decisions.
  • Marathon-London is a privately-owned, independent international and global equity manager with a strong investment led culture.

Performance Summary Performance Details >

As of Quarter Ended 09/30/2018
YTD1 Year5 Year10 YearSince Inception
-5.09%-3.02%1.89%4.79%10.34%

Growth of a Hypothetical $10,000 Investment

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 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 2-star Overall Morningstar Rating™ as of 11/30/2018 out of 636 Foreign Large Blend funds. International Fund was rated 1-star among 636, 1-star among 511, and 2-star among 380 domestic Foreign Large Blend funds for the three-, five- and ten-year periods ended 11/30/2018, 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.

©2018 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.


Subject to a contractual management fee waiver, and an expense limitation agreement (excluding interest expense, if any) through February 28, 2019

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, 2019. In addition, the Adviser has contractually agreed to further waive a portion of its management fee such that the Fund's operating expenses, excluding interest expense (if any), are limited to 0.72%, 0.97%, 1.09% and 0.64% for the Institutional Class, Administrative Class, Investor Class and Retirement Class, respectively, through February 28, 2019. 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, 2019. In addition, the Adviser has contractually agreed to further waive a portion of its management fee such that the Fund's operating expenses, excluding interest expense (if any), are limited to 0.72%, 0.97%, 1.09% and 0.64% for the Institutional Class, Administrative Class, Investor Class and Retirement Class, respectively, through February 28, 2019. Only the Fund's Board of Trustees may modify or terminate this agreement.

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.