The Funds investment objective, Harbor Capital Advisors Inc., the Funds investment adviser (the Advisor), allocates the Funds assets among various asset classes and market sectors based on its assessment of global economic and market conditions, primarily through investments in a diversified portfolio of exchange-traded funds, including other funds managed by the Advisor (Underlying Funds). The Fund invests in Underlying Funds that provide exposure to one or more broad asset classes, such as equities, fixed income securities of any credit quality (including below-investment grade bonds, also known as high-yield bonds or junk bonds), real estate investment trusts, commodities, and cash and cash equivalents. The Fund invests, through Underlying Funds, in markets around the world, including both in developed and emerging markets.