An adverse event, such as an unfavorable earnings report, depresses the value of a particular company s stock. The subadviser s judgment about the attractiveness, value and potential appreciation of particular companies stocks prove to be incorrect. The fund invests primarily in securities of foreign companies. Because of this, there is a greater risk that the fund s share price will fluctuate more than if the fund invested in domestic issuers. A decline in the value of foreign currencies relative to the U.S. dollar will reduce the unhedged value of securities denominated in those currencies.
Foreign securities are sometimes less liquid and harder to value than securities of U.S. issuers.
These risks are more severe for securities of issuers in emerging market countries such as Eastern Europe, Latin America and the Pacific Basin. Foreign brokerage and custodian fees may be higher than in the U.S. Please refer to the Harbor Fund prospectus for a more complete description of the charges, expenses and risks associated with investment in the Fund, including the risk of foreign investing. Each of the Harbor Funds or services referred to in the Harbor Fund Web site may be offered only to persons in the United States. This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States. Inc. All rights reserved.