Harbor Funds today announced the addition of Harbor High-Yield Opportunities Fund to its lineup of no-load mutual funds. The new fund, which commences operations today, is subadvised by Crescent Capital Group LP ("Crescent").

The investment goal of Harbor High-Yield Opportunities Fund is total return. Under normal market conditions, the Fund invests primarily (no less than 80% of its total assets) in a diversified portfolio of below investment-grade, high-risk, corporate bonds that are rated below Baa3 by Moody's or below BBB- by S&P or Fitch, commonly referred to as "high yield" or "junk" bonds. The portfolio managers of the Fund will be John Fekete, Managing Director and Portfolio Manager at Crescent, Conrad Chen, Managing Director and Portfolio Manager at Crescent, Ross Slusser, Managing Director and Head of Research at Crescent, and Scott Fukumoto, Managing Director and Trader at Crescent.

"We are very pleased to partner with Crescent to add Harbor High-Yield Opportunities Fund to the Harbor Funds lineup," said Charles F. McCain, President of Harbor Funds. "We extend a warm welcome to John Fekete, Conrad Chen, Ross Slusser, Scott Fukumoto, and the Crescent team as they join the Harbor Funds family."

Brian L. Collins, Vice President of Harbor Funds and Chief Investment Officer of Harbor Capital Advisors, the adviser to Harbor Funds, commented, "We are pleased to be partnering with Crescent and excited about the opportunity to work with the team, and to introduce Harbor High-Yield Opportunities Fund to investors. The Crescent team has significant experience investing in high-yield bonds that we believe will benefit shareholders of the Fund."

The Harbor Funds lineup of actively managed, no-load mutual funds had combined net assets of approximately $70 billion as of September 30, 2017. 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. Fixed income investments are affected by interest rate changes and the creditworthiness of the issues held by the Fund. As interest rates rise, the values of fixed income securities held by the Fund are likely to decrease and reduce the value of the Fund's portfolio. The use of derivative instruments may add additional risk. High-yield investing poses additional credit risk related to lower-rated bonds.