The Harbor Funds Board of Trustees has appointed Sands Capital Management, LLC (“Sands Capital”) as subadviser to Harbor Global Growth Fund (the “Fund”) effective March 1, 2017. Sands Capital succeeds Marsico Capital Management, LLC (“Marsico Capital”), which had served as subadviser since March 1, 2009. The Board of Trustees also approved a change in the Fund’s name from Harbor Global Growth Fund to Harbor Global Leaders Fund to reflect Sands Capital’s investment strategy for the Fund. The Fund will continue to invest in global equities, but will focus on companies which Sands Capital believes are established business leaders in their country, industry or globally in terms of products, services or execution of their business strategy. This change coincides with the appointment of Sands Capital as the Fund’s subadviser and also takes effect on March 1, 2017. View fund details.

“We wish to express our appreciation to Marsico Capital for their dedicated service to our shareholders,” said Harbor Funds Chairman David G. Van Hooser. “At the same time, we welcome Sands Capital as the new portfolio management team of the Harbor Global Leaders Fund.”

Sands Capital is an independent, employee-owned investment management firm with $35 billion in assets under management at December 31, 2016. Sands Capital began in 1992 and has managed global equity assets since 2009.

Sunil H. Thakor, Senior Portfolio Manager, Research Analyst and Executive Managing Director, will be the portfolio manager for the Fund and has worked for Sands Capital since 2004. Prior to joining Sands Capital, he worked as an Associate and Analyst for Charles River Associates, Inc.

The Fund invests primarily in equity securities of publicly-traded companies located anywhere in the world, 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 with a focus on companies that Sands Capital 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. In many cases, though not all, free cash generation is expected to be sufficient to support both the capital reinvestment required to support above-average earnings growth as well as capital return to shareholders through dividends and/or share buybacks.

While the Fund may invest in equity securities of companies of any size, the Fund will primarily invest in large and mid-capitalization companies given Sands Capital’s focus on what it considers to be established business “leaders.” As such, the Fund will generally not invest in companies with a market capitalization of less than $2 billion, and its total median market capitalization will typically be significantly greater than that of the MSCI All Country World Index, the Fund’s benchmark.

The Harbor Funds lineup of actively managed, no-load mutual funds had combined net assets of approximately $69 billion as of December 31, 2016. Each Harbor fund is managed by an institutional investment firm selected by Harbor Capital Advisors, Inc. and approved by the Harbor Funds Board of Trustees based on the firm's experience in a specific asset class. Fees and expenses apply to an investment in Harbor Funds and are described in each fund's current prospectus.

There is no guarantee that the investment objective of the Fund will be achieved. Stocks fluctuate in price and the value of your investment in the Fund may go down. Investing in international and emerging markets poses special risks, including potentially greater price volatility due to social, political and economic factors, as well as currency exchange rate fluctuations. These risks are more severe for securities of issuers in emerging market regions. The Fund's portfolio manager's judgment about the attractiveness, value and potential appreciation of a particular security may be incorrect. In addition, the Fund’s portfolio manager's judgment regarding which companies are considered established business leaders may be incorrect. Further, even if the Fund's portfolio manager is able to consistently identify leading companies, there can be no assurance that stocks of those companies will outperform the stocks of other companies that may not be considered business leaders.