Harbor Funds Announces Launch of Harbor Flexible Capital Fund

CHICAGO, March 1, 2011 /PRNewswire/ -- Harbor Funds today announced the addition of the Harbor Flexible Capital Fund to its lineup of no-load mutual funds. The new fund, which commences operations today, is managed by Marsico Capital Management, LLC.

The investment goal of the Harbor Flexible Capital Fund is to seek long-term growth of capital. The Fund invests primarily in equity securities and other investments selected for their long-term growth potential. It may invest in issuers of any size throughout the world, including emerging markets, and will normally hold a core position of 20 to 50 securities or other investments. In addition to equities, the Fund may invest up to 40% of its assets in fixed and variable income securities, including up to 25% of its assets in below-investment-grade securities.

The Fund will be managed by A. Douglas Rao, a Portfolio Manager and Senior Analyst at Marsico Capital Management. Before joining Marsico in 2005, Mr. Rao served with Trust Company of the West as a Senior Vice President and Financial Services Analyst for U.S. equities.

There is no guarantee that the Fund's investment goal will be achieved. Stocks and bonds fluctuate in price and the value of your investment in the Fund could go down. Because the Fund may make significant investments in securities of foreign companies, there is a greater risk that the Fund's share price will fluctuate more than if it invested only in domestic issuers. Such risks are more significant for issuers in emerging market countries. Fixed income investments are affected by interest rate changes and the creditworthiness of the issues held by the Fund.  A rise in interest rates will cause a decrease in the value of fixed income securities.  Such an event would have an adverse effect on the Fund.  In addition, below-investment-grade bonds are considered speculative because they have a high risk of issuer default, are subject to greater price volatility, and may be illiquid. The Fund charges a redemption fee of 2% on redemption of shares that are held for less than 60 days.  Other risks also apply; these are discussed in the Fund's prospectus.

The Harbor Funds lineup of actively managed no-load mutual funds had combined net assets of approximately $57.4 billion as of December 31, 2010. 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 Fund's investment objectives, risks, fees and expenses carefully before investing.  For this and other important information, please obtain a prospectus by calling 800-422-1050 or visiting www.harborfunds.com and read it carefully before investing.  

Distributed by Harbor Funds Distributors, Inc.

SOURCE Harbor Funds

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