t is, perhaps, another sign of the times. Harbor Fund has decided to merge its Harbor International Fund II (HAIIX
) into Harbor International Fund (HAINX
). The full vote from shareholders will take place in October.
The firm originally opened the second fund in 1996 when it closed the first one to new investors. Harbor International has recently been reopened to new investors. As of the end of June, the first fund had net assets of $3.96 billion while the second had assets of $75 million. Both funds take a value-oriented approach.
Northern Cross Investments has been the subadvisor for the first fund since 1987 when it was first offered. Summit International Investments has provided similar service for the second. The two will work together on the new combined fund.
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