| Investment Objective: |
The Fund seeks to provide investment results that track, before fees and expenses, the performance of the Harbor AlphaEdgeTM Next Generation REITs Index. The Index consists of next generation (generally defined as non-traditional) real estate investment trusts ("REITs") traded on U.S. exchanges that exhibit positive fundamental and price characteristics according to the Index Provider's methodology. The Fund invests at least 80% of its total assets in securities that are included in the Index. The Index Provider identifies the universe of securities eligible to be included in the Index (the "Index Universe"). The Index Universe consists of all "next-generation" REITs within the largest 3000 securities listed on U.S. exchanges subject to certain constraints with respect to size, liquidity, price and sales. The Index Provider then scores each company in the Index Universe based on its proprietary stock selection scoring model, which assesses companies across five individual factor composites: Capital Deployment, Momentum, Quality, Risk and Valuation. The Index typically includes between 35 and 70 constituent REITs. At the time of reconstitution, the hotel and motel equity REITs sub-industry is capped at 15% of the Index. |
