Harbor Diversified International All Cap Fund Retirement Class (HNIDX)

Fund Facts
Price (NAV) (08/23/2019) $10.35
Daily $ Change -$0.12 
Daily % Change -1.15% 
YTD Return (08/23/2019) 8.15%
Average Annual Total Returns Since Inception (As of 07/31/2019) 4.47%
Inception Date 03/01/2016
Net Expense Ratio 0.72%
Gross Expense Ratio 0.91%
Portfolio Manager
Marathon Asset Management LLP
Neil M. Ostrer
Charles Carter
Nick Longhurst
William J. Arah
Simon Somerville
Michael Nickson, CFA
Michael Godfrey, CFA
David Cull, CFA
Robert Anstey, CFA
Share Class Net Assets (07/31/2019) $471.765 million
Overall Morningstar Rating (642 Foreign Large Blend funds)
Ticker HNIDX
Fund Number 2538
CUSIP 411512437
Why invest in Harbor Diversified International All Cap 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 spans most international markets, which may appeal to those investors seeking broad exposure to both developed and emerging market equities.
  • 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-London 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 06/30/2019
YTD1 Year5 Year10 YearSince Inception

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 Retirement Class
Regular $1,000,000
Individual Retirement Account (IRA) $1,000,000
Custodial $1,000,000

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.

Retirement Class shares commenced operations on March 1, 2016. The performance attributed to the Retirement Class shares prior to that date is that of the Institutional Class shares. Performance prior to March 1, 2016 has not been adjusted to reflect the lower expenses of Retirement Class shares. During this period, Retirement Class shares would have had returns similar to, but somewhat higher than, Institutional Class shares due to the fact that Retirement Class shares represent interests in the same portfolio as Institutional Class shares but are subject to lower expenses.

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 All Country World Ex. U.S. (ND) Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market performance in the global developed and emerging markets, excluding the United States. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

The Harbor Diversified International All Cap Fund received a 3-star Overall Morningstar Rating™ as of 01/31/2019 out of 642 Foreign Large Blend funds. Diversified International All Cap Fund was rated 3-star among 642 domestic Foreign Large Blend funds for the three-year period ended 01/31/2019. The Morningstar Rating is for the Retirement share class only; other classes may have different performance characteristics.

©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.

Subject to an expense limitation agreement (excluding interest expense, if any) through February 29, 2020

The Adviser has contractually agreed to limit the Fund's operating expenses, excluding interest expense (if any), to 0.80%, 0.72%, 1.05%, and 1.17% for the Institutional Class, Retirement Class, Administrative Class, and Investor Class respectively, through February 29, 2020. 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 0.80%, 0.72%, 1.05%, and 1.17% for the Institutional Class, Retirement Class, Administrative Class, and Investor Class respectively, through February 29, 2020. 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.