Harbor Funds Names PIMCO to Manage New Harbor Commodity Real Return Strategy Fund

Harbor Funds Names PIMCO to Manage New Harbor Commodity Real Return Strategy
Fund

CHICAGO, Sept. 2 /PRNewswire/ -- Harbor Funds today announced the addition
of the Harbor Commodity Real Return Strategy Fund to its lineup of no-load
mutual funds. This new fund, which commences operations today, is managed by
Pacific Investment Management Company LLC (PIMCO), the same subadviser that
manages the Harbor Bond Fund and the Harbor Real Return Fund.
The Harbor Commodity Real Return Strategy Fund seeks to provide maximum
real return (total return minus the cost of inflation), consistent with
prudent investment management, by investing in commodity-linked derivative
instruments backed by a portfolio of inflation-indexed securities and other
fixed income instruments. The Harbor Commodity Real Return Strategy Fund has
an investment minimum of $1,000.
The Fund will be managed by Mihir Worah, an executive vice president of
PIMCO. Mr. Worah also serves as portfolio manager of the Harbor Real Return
Fund. With $829.5 billion in fixed-income assets under management, as of June
30, 2008, PIMCO, based in Newport Beach, Calif., is one of the world's leading
fixed-income fund management companies.
The Harbor Commodity Real Return Strategy Fund invests in commodity-linked
investments, which may be significantly more volatile than other securities.
The use of derivative instruments may add additional risk. It also invests in
fixed income securities, which fluctuate in price in response to various
factors, including changes in interest rates, changes in market conditions,
and issuer-specific events. The Fund is non-diversified, which means that it
may concentrate its assets in a smaller number of issuers, making it more
susceptible to risks associated with a single economic, political, or
regulatory occurrence than a more diversified portfolio. Since the Fund may
hold foreign securities, it may be subject to greater risks than funds
invested only in the U.S. These risks are more severe for securities of
issuers in emerging market regions. The Fund will seek to gain exposure to
the commodity markets primarily through investments in leveraged or
unleveraged commodity index-linked notes and through investments in the Harbor
Cayman Commodity Fund Ltd., a wholly-owned subsidiary of the Fund.
The Harbor Funds lineup of actively managed no-load mutual funds had
combined net assets of $48.3 billion as of June 30, 2008. Each Harbor fund is
managed by an institutional investment firm chosen by Harbor Capital Advisors,
Inc. because of its experience in a specific asset class.
Investors should consider the investment objectives, risks, fees and
expenses carefully before investing. Visit the Harbor Funds web site at
www.harborfunds.com or call 1-800-422-1050 for a prospectus which contains
this and other information about the Fund. Read the prospectus carefully
before investing.
SOURCE Harbor Funds

John Hoff, Harbor Capital Advisors, +1-312-443-4560