The Harbor Funds Board of Trustees appointed Marathon Asset Management LLP (Marathon-London) to serve as subadviser to the Harbor International Fund effective August 22, 2018. Marathon-London succeeds Northern Cross, LLC, which served as subadviser to the Fund since 2009.

Under Marathon-London, the Fund will continue to provide investors with a broadly diversified portfolio of foreign company stocks across a range of geographies and market capitalizations. Marathon-London’s investment approach focuses on identifying attractive long-term investment opportunities at different points in the capital cycle for each industry. Marathon-London emphasizes fundamental, bottom-up research to select individual companies of all sizes for investment, targeting holding periods of seven years or longer. Marathon-London also maintains broad geographic exposures through allocations primarily to the developed markets across Europe, Japan and Asia Pacific ex-Japan. Marathon-London will utilize its flagship EAFE (Europe, Australasia and Far East) strategy for the Fund.

“We have high conviction in the investment capabilities of Marathon-London. After careful research and evaluation, we believe that the Harbor International Fund and its shareholders will be best served by Marathon-London as subadviser to the Fund going forward,“ said Harbor Funds Chairman Charles F. McCain. "At the same time, we wish to express our deep appreciation to Northern Cross for their dedicated service to the Harbor International Fund and its shareholders over many years.”

Marathon-London has a long history of investing in international and global equities on behalf of institutional investors. Marathon-London, founded in London, United Kingdom, in 1986, is an independent, employee owned firm with approximately $61 billion in assets as of June 30, 2018.

Additional information about the appointment of Marathon-London is available from the links below:

Harbor International Fund Manager Change: Questions & Answers
Harbor International Fund Summary Prospectus

If you have questions, please call Harbor Shareholder Services at 800-422-1050, Monday through Friday, between 8:00 a.m. and 6:00 p.m. Eastern time.

The Harbor Funds lineup of actively managed, no-load mutual funds had combined net assets of approximately $65 billion as of June 30, 2018. 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 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. Stocks of small and mid cap companies also pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies. The subadviser's assessment of the capital cycle for a particular industry or company may be incorrect. Investing in companies at inopportune phases of the capital cycle can result in the Fund purchasing company stock at pricing levels that are higher than the market dynamics would support and therefore subject the Fund to greater risk that the stock price would decline rather than increase over time