Harbor International Small Cap Fund Administrative Class (HRISX)

Fund Facts
Price (NAV) (08/23/2019) $11.46
Daily $ Change -$0.13 
Daily % Change -1.12% 
YTD Return (08/23/2019) 4.47%
Average Annual Total Returns Since Inception (As of 07/31/2019) 7.34%
Inception Date 02/01/2016
Net Expense Ratio 1.21%
Gross Expense Ratio 1.41%
Portfolio Manager
Cedar Street Asset Management LLC
Jonathan Brodsky
Waldemar Mozes
Share Class Net Assets (07/31/2019) $0.346 million
Ticker HRISX
Fund Number 2239
CUSIP 411512551
Overview
Please note: On May 23, 2019, Harbor Funds appointed Cedar Street Asset Management LLC as subadviser to the Harbor International Small Cap Fund. For more information on this change, click here.
 

Why choose the Harbor International Small Cap Fund?

  • The fund's conviction-weighted portfolio will typically include 50 to 70 stocks. The portfolio will tend to focus on value, with a long time-horizon and low turnover, but will favor value companies with more appealing risk profiles to avoid the "value trap" and provide downside protection.
  • Cedar Street applies a corporate governance overlay to their stock selection process, which is especially relevant in less efficient asset classes, like international small cap.
  • The portfolio is expected to maintain a high active share with opportunistic exposure to emerging markets, allowing for true exposure to the asset class.

Why did Harbor choose Cedar Street Asset Management as the Fund's subadviser?

  • Cedar Street is an employee-owned boutique specialist, focused entirely on non-US small cap investing.
  • The investment team's regulatory expertise, language skills, operational experience and extensive local market contacts provide competitive advantage in complex "High Touch" markets located outside the U.S.
  • While research coverage on non-US small cap companies can be thin, Cedar Street applies significant in-house research resources and a deep, bottom-up methodology to uncover compelling opportunities that may not be seen by other investors.

Read Harbor's thoughts on The Case for International Small Cap

Learn more about Cedar Street and the Harbor International Small Cap Fund

Performance Summary Performance Details >

As of Quarter Ended 06/30/2019
YTD1 Year5 Year10 YearSince Inception
11.67%-7.51%N/AN/A7.97%

Growth of a Hypothetical $10,000 Investment


Minimum Investment

Investors who wish to purchase, exchange or redeem shares held through a financial intermediary should contact the financial intermediary directly. The minimum initial investment amounts are shown below. The minimums may be reduced or waived in some cases. There are no minimums for subsequent investments.

Account Type Administrative Class
Regular $50,000
Individual Retirement Account (IRA) N/A
Custodial N/A

Administrative Class shares are limited only to employer-sponsored retirement or benefit plans and financial intermediaries. There is no minimum investment for employer-sponsored retirement or benefit plans.

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 Small Cap (ND) Index is an equity index which captures small cap representation across developed markets countries around the world, excluding the US and Canada. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

©2019 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 Adviser has contractually agreed to limit the Fund's operating expenses, excluding interest expense (if any), to 0.95%, 0.87%, 1.20%, and 1.32% 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 29, 2020

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 0.95%, 0.87%, 1.20%, and 1.32% 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.

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.