Harbor Funds on Monday announced two new funds, the Harbor Emerging Markets Debt Fund, to be managed by Stone Harbor Investment Partners, and the Harbor Convertible Securities Fund, to be managed by Shenkman Capital Management.

The emerging markets debt fund will invest in fixed income securities tied to countries with emerging securities markets, with 50% of the portfolio exposed to U.S. dollar-denominated securities and 50% to local currency-denominated securities. The fund may invest in higher-risk, below-investment-grade securities and use a top-down approach to identifying emerging market countries they believe offer attractive investment opportunities.

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