The Harbor Fund board of trustees has decided to say goodbye to one of its funds' subadvisors. The Harbor Mid Cap Value Fund, with $10 million in net assets at the end of August, will now be subadvised by Chicago-based institutional money manager LSV Asset Management.

Dalton, Greiner, Hartman, Maher & Co., LLC had been the fund's subadvisor since March 1, 2002, the fund's opening date.

Under DGHM, the Mid Cap Value fund has returned 4.98 percent; or 22.83 percent during the past year.

Harbor Fund spokesman John Hoff did not immediately return a call seeking comment regarding the change.

The fund's investment objective and its expense ratios will remain the same, company officials stated in a Thursday SEC filing.

LSV's composite performance on all fee-based accounts in its mid cap investment style was 11.74 percent at the end of 2003, net of operating expenses.

Josef Lakonishok, Robert Vishny, Menno Vermeulen of LSV will co-manage the fund. Lakonishok and Vishny are founding partners and portfolio managers at LSV; Vermeulen is a portfolio manager. LSV managed $25 billion at the end of August. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE