HARBOR INTERNATIONAL FUND INVESTOR CLASS (HIINX) Exchange: NMFQS

The Fund invests primarily (no less than 65% of its total assets under normal market conditions) in common and preferred stocks of foreign companies, including those located in emerging market countries. Companies in the Fund's portfolio generally have market capitalizations in excess of $1 billion at the time of purchase.The Subadviser uses an analysis of economic and market data, as well as its knowledge of each country, to determine country and industry allocations. Before selecting a country for investment, the Subadviser analyzes the stability of a country's currency and its political, social and economic conditions. Subject to these target country and industry allocations, the Subadviser uses a value oriented, bottom-up approach, researching and evaluating individual companies, to select stocks for the Fund's portfolio.In selecting stocks for the Fund's portfolio, the Subadviser also looks for companies with the following characteristics:Businesses that the Subadviser believes offer valueLow price/earnings multiples relative to other stocks in each country/industryAbove average, long-term earnings expectations not reflected in the priceUnder normal market conditions, the Fund will invest in a minimum of ten countries throughout the world, focusing on companies located in Europe, the Pacific Basin and emerging industrialized countries whose economies and political regimes appear stable in the Subadviser's view.