Los Angeles-based Causeway Capital Management LLC has replaced Pzena Investment Management, LLC as subadviser to the Harbor Global Value Fund, effective May 25. Pzena had served as subadviser since August 7, 2006.
The fund will be managed by a team of portfolio managers comprised of Sarah H. Ketterer, chief executive officer of Causeway, Harry W. Hartford, president of Casueway, James A. Doyle; Jonathan P. Eng; Kevin Durkin and Conor Muldoon. Causeway is an investment adviser specializing in global and international stocks. The firm currently manages some $14.5 billion in assets.
Harbor Global Value Fund was launched in August 2006 and managed $30 million as of April 30. Its net expense ratio is 100 basis points. The Harbor Funds lineup of actively managed, no-load mutual funds had combined net assets of $66 billion as of April 30.
"We appreciate Pzena's dedication and service to shareholders of the Harbor Global Value Fund," stated Harbor Funds Chairman David G. Van Hooser.