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Harbor Focused International Fund (HNFSX)

Overview
Performance
Holdings
Documents
Investment Team

Overview

Current Price

as of 12/6/2021

NAV Price

$14.26

NAV Daily Change ($)

$0.13

NAV Daily Change (%)

0.92%

NAV YTD Return

5.01%

Fund Facts

Inception Date

6/1/2019

Net Expense Ratio

0.85%disclaimer

Gross Expense Ratio

1.09%

Total Net Assets (million)

as of 11/30/2021

$24.692

Ticker

HNFSX

Fund Number

2045

Share Class

Institutional

Top Ten Holdings

as of 9/30/2021

Novo Nordisk A/S Class B [NOVO.B]

5.2%

Housing Development Finance Corporation Limited [500010]

4.9%

HOYA CORPORATION [7741]

4.9%

Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR [TSM]

4.5%

Pernod Ricard SA [RI]

4.5%

Experian PLC [EXPN]

4.5%

Inner Mongolia Yili Industrial Group Co., Ltd. Class A []

4.4%

Shin-Etsu Chemical Co Ltd [4063]

3.8%

AIA Group Limited [1299]

3.7%

EssilorLuxottica SA [EL]

3.5%

% of Total Holdings:

43.9%

left quote

“We have developed a quality growth expertise through decades of on the ground research, this experience has taught us the most important questions prior to each investment are simply: do we want to own this business, with this management, at this price.”

right quote

Laure Négiar

CFA, Portfolio Manager and Analyst, Comgest Asset Management International Limited

Performance

Total Returns

MONTH-END
QUARTER-END
MONTH-BY-MONTH
YEAR-BY-YEAR

Fund Name

YTD Return

3 Mo.

1 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Focused International Fund

3.46%

-0.50%

8.91%

15.43%

0.85%disclaimer

1.09%

MSCI All Country World Ex. US (ND) Index

3.55%

-5.35%

9.14%

11.04%

--

--

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborfunds.com or by calling 800-422-1050.

The MSCI All Country World Ex. US (ND) Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market performance in the global developed and emerging markets, excluding the U.S. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

Price History

CHART
TABLE

Distribution History

Record Date

Reinvest Date

Payable Date

Return of Capital Non Taxable Dist

Ordinary Income

Total Capital Gains

Short Term Capital Gains

Mid Term Capital Gains

Long Term Capital Gains

Total Distribution

Foreign Tax Credit

Reinvest Price

12/16/2020

12/17/2020

12/17/2020

0.00000

0.03179

0.14411

0.05445

0.00000

0.08966

0.17590

0.01214

13.38

12/13/2019

12/16/2019

12/16/2019

0.00000

0.01144

0.05256

0.05256

0.00000

0.00000

0.06400

0.00314

11.07

Holdings

Portfolio Characteristics

as of 9/30/2021

Focused International Fund

MSCI All Country World Ex. US (ND) Index

Number of Holdings

37

2354

Wtd Avg Market Cap ($Mil)

162609.1

93645.9

Price/Book Ratio

6.72

2.68

Adjusted Trailing P/E Ratio

34.5

20.8

% EPS Growth - Past 3 Yr

2.5

4.5

Return on Equity (%)

13.23

10.75

Forecasted P/E Ratio

31.2

18.7

Proj. Earnings Growth Rate (%)

16.6

17.6

Top Ten Holdings

as of 9/30/2021

Company Name [Ticker]

% of Net Assets

Novo Nordisk A/S Class B[NOVO.B]

5.2

Housing Development Finance Corporation Limited[500010]

4.9

HOYA CORPORATION[7741]

4.9

Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR[TSM]

4.5

Pernod Ricard SA[RI]

4.5

Experian PLC[EXPN]

4.5

Inner Mongolia Yili Industrial Group Co., Ltd. Class A[null]

4.4

Shin-Etsu Chemical Co Ltd[4063]

3.8

AIA Group Limited[1299]

3.7

EssilorLuxottica SA[EL]

3.5

% of Total Holdings:

43.9%

This information should not be considered as a recommendation to purchase or sell a particular security. The holdings mentioned may change at any time and may not represent current or future investments.

as of 9/30/2021

Company Name [Ticker]

Country

Shares (000's)

Current Price ($)

Market Value ($000's)

% of Net Assets

Novo Nordisk A/S Class B [NOVO.B]

Denmark

25

96.85

2,416

5.2

Housing Development Finance Corporation Limited [500010]

India

60

37.11

2,244

4.9

HOYA CORPORATION [7741]

Japan

14

156.62

2,240

4.9

Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR [TSM]

Taiwan

19

111.65

2,079

4.5

Pernod Ricard SA [RI]

France

9

221.01

2,068

4.5

Experian PLC [EXPN]

United Kingdom

49

41.92

2,057

4.5

Inner Mongolia Yili Industrial Group Co., Ltd. Class A

China

346

5.84

2,024

4.4

Shin-Etsu Chemical Co Ltd [4063]

Japan

10

169.39

1,728

3.8

AIA Group Limited [1299]

Hong Kong

146

11.55

1,686

3.7

EssilorLuxottica SA [EL]

France

8

191.81

1,618

3.5

L'Oreal SA [OR]

France

4

413.57

1,564

3.4

Tencent Holdings Ltd. [700]

China

26

59.27

1,559

3.4

Shimano Inc. [7309]

Japan

5

294.87

1,474

3.2

Keyence Corporation [6861]

Japan

2

600.49

1,381

3.0

NetEase, Inc [9999]

Hong Kong

80

16.89

1,358

2.9

DAIKIN INDUSTRIES, LTD. [6367]

Japan

6

219.22

1,337

2.9

Sony Group Corporation [6758]

Japan

12

111.63

1,284

2.8

LVMH Moet Hennessy Louis Vuitton SE [MC]

France

2

718.66

1,267

2.8

Alibaba Group Holding Ltd. [9988]

China

69

18.27

1,252

2.7

Kweichow Moutai Co., Ltd. Class A

China

4

283.55

1,201

2.6

Roche Holding Ltd [ROG]

Switzerland

3

366.56

1,195

2.6

FAST RETAILING CO., LTD. [9983]

Japan

2

739.23

1,183

2.6

Daifuku Co., Ltd. [6383]

Japan

13

94.29

1,179

2.6

ASML Holding NV [ASML]

Netherlands

1

748.57

1,052

2.3

Recruit Holdings Co., Ltd. [6098]

Japan

15

61.23

925

2.0

Straumann Holding AG [STMN]

Switzerland

1

1,804.68

924

2.0

SAP SE [SAP]

Germany

6

135.46

857

1.9

Hamamatsu Photonics K.K. [6965]

Japan

13

62.20

815

1.8

MTU Aero Engines AG [MTX]

Germany

4

226.46

804

1.7

Dassault Systemes SA [DSY]

France

13

52.69

710

1.5

Adyen NV [ADYEN]

Netherlands

0

2,798.86

644

1.4

Kweichow Moutai Co., Ltd. Class A [600519]

China

0

283.19

28

0.1

Total

--

--

--

44,152

96.1

Cash and Other Assets Less Liabilities

--

--

--

--

3.9

Total Net Assets

--

--

--

--

100%

Sector Allocations

as of 9/30/2021

Economic Sector

Focused International Fund %

MSCI All Country World Ex. US (ND) Index %

Consumer Discretionary

17.5

12.6

Information Technology

16.4

13.1

Consumer Staples

14.9

8.3

Health Care

14.7

9.4

Industrials

13.7

12.2

Financials

8.5

19.2

Communication Services

6.3

6.3

Materials

3.8

8.0

Energy

0.0

4.9

Real Estate

0.0

2.5

Utilities

0.0

3.0

as of 9/30/2021

Economic Sector

Focused International Fund %

MSCI All Country World Ex. US (ND) Index %

Health Care

12.4

-1.9

Industrials

9.0

0.4

Financials

2.7

1.1

Information Technology

2.3

-0.9

Materials

1.8

-5.5

Energy

0.0

6.7

Utilities

0.0

-1.9

[Unassigned]

0.0

33.8

Real Estate

0.0

-6.4

Consumer Staples

-1.5

-3.4

Consumer Discretionary

-3.5

-11.5

Communication Services

-23.2

-10.0

as of 9/30/2021

Country

Focused International Fund %

MSCI All Country World Ex. US (ND) Index %

Japan

29.4

15.4

France

15.7

7.1

China

13.2

9.4

Hong Kong

6.6

1.9

Denmark

5.2

1.6

India

4.9

3.6

Switzerland

4.6

6.1

Taiwan

4.5

4.4

United Kingdom

4.5

9.1

[Cash]

4.2

--

Other

7.2

41.4

Forms & Resources

Fund Documents

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Focused International Fund Quarterly Report

10/18/2021
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Focused International Fund Portfolio Holdings

10/18/2021

Regulatory

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Focused International Fund Summary Prospectus

08/27/2021
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International & Global Prospectus

10/22/2021
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International & Global Annual Report

08/27/2021
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International & Global Semi-Annual Report

08/27/2021
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Statement of Additional Information

11/18/2021
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International & Global Fiscal Q3 Schedule of Holdings

09/29/2021
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International & Global Fiscal Q1 Schedule of Holdings

08/27/2021

Management

Comgest Asset Management International Limited


Comgest is an international equity boutique, 100%-owned by its employees and founders. This durable partnership – of over 30 years – drives their unconstrained, quality growth approach, which is applied across global and regional strategies in developed and emerging markets. From headquarters in Paris, France and additional research offices around the world, each investment team member pursues the same disciplined bottom-up methodology, with integrated ESG research, and then collaborates with the broader team as they seek out the highest-quality companies in every market. Comgest’s independent culture motivates them to think about a company’s strategic intent, sustainability and its impact on all stakeholders. As both stewards of capital and investors, the firm believes this integrated investment strategy is a key factor in creating long-term value for clients.

From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.

There is no guarantee that the investment objective of the Fund will be achieved. Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. Investing in foreign and emerging markets poses special risks, including potentially greater price volatility due to regulatory, social, political and economic factors, as well as currency exchange rate fluctuations. These risks are more severe for securities of issuers in emerging markets. The Fund may invest in a limited number of companies and from time to time, the Fund may be more heavily invested in particular countries, geographic regions or sectors. As a result, the Fund’s performance may be more volatile, and you may experience greater losses.

EPS growth (earnings per share growth) illustrates the growth of earnings per share over time. EPS growth rates can help investors identify stocks that are increasing or decreasing in profitability.

Comgest Asset Management International Limited (“CAMIL”) serves as the Fund’s subadviser. In providing services to the Fund, CAMIL uses designated persons of its affiliates, including Comgest S.A., based in Paris, France, and Comgest Singapore Ptd Ltd., based in Singapore. CAMIL and such affiliates are referred to collectively as “Comgest.”

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Harbor Funds Distributors, Inc. is the Distributor of the Harbor Mutual Funds.
Foreside Fund Services, LLC is the Distributor of the Harbor ETFs.  

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Investing involves risk and the potential loss of capital.

Investors should carefully consider the investment objectives, risks, charges and expenses of a fund before investing. To obtain a summary prospectus or prospectus for this and other information, click here or call 800-422-1050. Read it carefully before investing.

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