Harbor Global Leaders Fund Institutional Class (HGGAX)

Fund Facts
Price (NAV) (12/18/2018) $24.10
Daily $ Change $0.05 
Daily % Change 0.21% 
YTD Return (12/18/2018) 2.27%
Average Annual Total Returns Since Inception (As of 11/30/2018) 16.86%
Inception Date 03/01/2009
Net Expense Ratio 0.90%
Gross Expense Ratio 1.21%
Portfolio Manager
Sands Capital Management, LLC
Sunil H. Thakor, CFA
Total Net Assets (11/30/2018) $35.003 million
YTD Net Cash Flow (11/30/2018) $1.622 million
Overall Morningstar Rating (732 World Large Stock funds)
Ticker HGGAX
Fund Number 2030
CUSIP 411512874
Investment Style
Harbor Global Leaders Fund, subadvised by Sands Capital Management, LLC, invests in securities of U.S. and foreign companies that have long-term growth potential, including in developed and emerging markets. Under normal market conditions, the Fund expects to invest in at least three countries, including the United States, and invest at least 40% of its assets in foreign companies. 

The Fund may invest in companies at any stage of their growth lifecycles, but will focus on companies that the Subadviser believes are capable of generating sustainable, above-average, and relatively stable rates of earnings per share growth and strong free cash flow, typically enabled by above-average rates of return on capital. The Subadviser seeks investment opportunities in companies that the Subadviser believes are leaders in their country, industry, or globally in terms of products, services, or execution.

The Subadviser then evaluates companies for six investment criteria:

  • sustainable above-average earnings growth;
  • leadership position in a promising business space;
  • significant competitive advantages;
  • clear mission and value-added focus;
  • financial strength; and
  • rational valuation relative to the market and business prospects.

Companies that the Subadviser determines may meet all six investment criteria are then screened with in-depth qualitative and quantitative research, including a full competitive analysis and proprietary financial modeling.

Performance Summary Performance Details >

As of Quarter Ended 09/30/2018
YTD1 Year5 Year10 YearSince Inception

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 AC (All Country) World (ND) Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

The Harbor Global Leaders Fund received a 4-star Overall Morningstar Rating™ as of 11/30/2018 out of 732 World Large Stock funds. Global Leaders Fund was rated 4-star among 732 and 4-star among 610 domestic World Large Stock funds for the three- and five-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.

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The Adviser has contractually agreed to limit the Fund's operating expenses, excluding interest expense (if any), to 0.90%, 0.82%, 1.15%, and 1.27% for the Institutional Class, Retirement Class, Administrative Class, and Investor 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 Adviser has contractually agreed to limit the Fund's operating expenses, excluding interest expense (if any), to 0.90%, 0.82%, 1.15%, and 1.27% for the Institutional Class, Retirement Class, Administrative Class, and Investor Class respectively, through February 28, 2019. Only the Fund's Board of Trustees may modify or terminate this agreement.

Subject to an expense limitation agreement (excluding interest expense, if any) through February 28, 2019

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.