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Harbor Capital Advisors has launched the Harbor Transformative Technologies ETF (TEC), expanding its ETF lineup and extending its 50+ year partnership with Jennison Associates. The actively managed ETF focuses on transformative technology companies across various market capitalizations and industries.
TEC will maintain a portfolio of 35-60 stocks, with up to 20% international exposure, benchmarked against the Nasdaq-100 Index. The fund targets companies driving disruptive change through technological advances, including themes like AI-augmented cloud computing, AI-driven semiconductor development, cybersecurity, fintech, and healthcare technology.
The ETF employs Jennison's bottom-up, fundamental research approach to identify growth opportunities, seeking companies that could grow from $5 billion to $20 billion, and from $30 billion to $100 billion. TEC is positioned as both a satellite portfolio and potential core U.S. equity holding for growth-oriented investors, with a total expense ratio of 69 basis points.
