Buy/sell spreads

In some market conditions, it may be in the best interests of existing unit holders in Harbour Funds that we apply a buy/sell spread to investments coming into a Fund or withdrawals from a Fund. This is because both an investment and withdrawal incur transaction costs as cash invested is used to purchase securities or securities are sold to provide cash for withdrawal. In normal market conditions, transaction costs are considered to be minimal taken across the Fund. However, when markets are more volatile than usual, transaction costs can escalate. To make sure these costs are equitably borne by the investor who is transacting and not passed onto other unit holders in the Fund, a spread may be applied to the price of your investment or redemption.

The buy or sell spread is retained by the applicable fund in association with estimated transaction costs. Harbour does not receive any benefit from applying buy/sell spreads.