Objective and strategy

Harbor International Small Cap Fund pursues long-term growth by investing in a diversified portfolio of international small-cap stocks. They have three particular preferences:

1. demonstrate traditional value metrics primarily on a price to book, price to earnings, net asset value (NAV), and/or dividend yield basis;
2. well-capitalized and transparent balance sheets and funding sources; and
3. business models that, through a complete business cycle, generate returns on equity or invested capital in excess of their cost of capital.

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Objective and strategy

Disciplined Growth Investors pursue both long-term growth and modest current income at reasonable risk. Approximately 65% of the portfolio is invested in stocks and approximately 35% in bonds and cash. The managers can gradually shift equity exposure down to about 55% or up to about 70% if market conditions warrant.

The managers invest primarily in smaller US stocks, currently defined as those with market capitalizations between $1 billion and $15 billion. They “don’t mindlessly diversify across every market, sector, and asset class.” They focus on Continue reading →

Objective and strategy

Harbor International Small Cap Fund pursues long-term growth by investing in a diversified portfolio of international small-cap stocks. They have three particular preferences:

1. demonstrate traditional value metrics primarily on a price to book, price to earnings, and/or dividend yield basis;
2. well-capitalized and transparent balance sheets and funding sources; and
3. business models that are undervalued by the market.

Up to 15% of Continue reading →