MutualFundWire.com: Harbor Adds to a Six-Year, $999MM-AUM Relationship

MutualFundWire.com

The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication

Friday, May 3, 2024

Harbor Adds to a Six-Year, $999MM-AUM Relationship

The folks at a 41-year-old, $56.8-billion AUM (as of March 31) fund firm in Illinois are expanding their partnership with a 37-year-old, $96-billion-AUM ally in Massachusetts.

Kristof Marius Gleich
Harbor Capital Advisors, Inc.
President, Chief Investment Officer

Yesterday, Kristof Gleich, president and chief investment officer of Robeco's Harbor Capital Advisors, Inc. [profile], and Bill O'Malley, CEO and co-CIO of Income Research + Management (IR+M), unveiled the launch of the Harbor Disciplined Bond ETF (AGGS on the NYSE Arca, Inc.). Boston-based IR+M serves as the new, actively managed fund's subadvisor, while Chicago-based Harbor (which has expanded its ETF count to 15 after entering the space in 2021) serves as investment advisor.

AGGS' inception date was Tuesday, April 30, and the new ETF is a series of Harbor ETF Trust. The fund comes with an expense ratio of 35 basis points, and as of yesterday it had $13.04 million in AUM.

The PM team for AGGS includes six IR+M portfolio managers: Rachel Campbell, director of securitized research; James Gubitosi, co-CIO; Bill O'Neill, senior PM; Jake Remley, senior PM; Mike Sheldon, deputy CIO; and Matt Walker, senior PM.

Gleich describes AGGS as designed "to specifically address the need for a consistent, conservative approach to fixed income investing that focuses on security selection."

"We believe clients want that unwavering approach during varying market conditions, and now they can access it in an ETF," Gleich states.

The AGGS launch comes after the IR+M and Harbor teams have already teamed up for years. IR+M has subadvised the Harbor Core Bond Fund (which had about $83 million in AUM as of this Tuesday) since its inception in 2018, and in 2022 IR+M took over as subadvisor of the Harbor Core Plus Fund (a now 37-year-old fund which had about $916 million in AUM as of Tuesday).

O'Malley adds that he is "thrilled to grow [IR+M's] Harbor partnership."

"We look forward to delivering compelling investment results for investors," O'Malley states.

AGGS' other service providers include: Ernst & Young LLP as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; and State Street Bank and Trust Company as custodian, dividend disbursing agent, and transfer agent.

Printed from: MFWire.com/story.asp?s=67379

Copyright 2024, InvestmentWires, Inc.
All Rights Reserved