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Harbor Capital Advisors expands ETF suite with Health Care Strategy

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Harbor Capital Advisors has announced that it is adding to its ETF lineup by bringing a new Harbor Health Care ETF (MEDI) to market in November, upon completion of the registration process. This offering is in addition to the firm’s growing line-up of ETFs across investment themes and asset classes. Along with ETFs, Harbor Capital writes that it offers a curated experience of mutual funds and collective investment trusts (CITs).

MEDI will be subadvised by Westfield Capital Management Company, L.P. (“Westfield”). Westfield is a long-term Harbor partner, having managed the Harbor Small Cap Growth Fund since 2000, a sleeve of the Harbor Disruptive Innovation Fund and Harbor Disruptive Innovation ETF since 2021, and the Harbor Dividend Growth Leaders ETF since 2022.

 

MEDI is an active, fully transparent ETF that will seek long-term growth of capital by investing primarily in securities of companies principally engaged in the research, development, production, or distribution of products and services related to the health care industry.

 

The health care team at Westfield has deep domain expertise and specialization across the health care sector. Exposures will be broadly diversified across health care industry groups including biotechnology, life sciences, healthcare providers, healthcare equipment, pharmaceuticals, and other subindustries.

 

“We think the health care sector is ripe for exceptional managers to add attractive alpha as the sector expects to benefit from several structural tailwinds such as globally aging populations and advanced science and technology driving drug innovation and treatment. Westfield has proven to be exceptional stock pickers over the past 20 years, particularly in the health care sector and we’re excited to bring that capability directly to the market with this latest thematic offering from Harbor Capital,” says Kristof Gleich, President and CIO, Harbor Capital.

 

MEDI will be led by two of Westfield’s seasoned health care investors. Will Muggia, President, CEO and CIO, has covered the health care sector for over 30 years and Matt Renna, Partner, has over 18 years of health care investing experience.

 

“We are excited to build upon the long-standing partnership with Harbor Capital, by offering investors a pure play vehicle into health care growth equities across the entire market cap spectrum. MEDI seeks to leverage Westfield Capital’s tenured team and process to identify the best secular growth stories within each subsector of health care. Market and sector volatility over the last year has presented compelling investment opportunities in some of the highest quality businesses in US health care, and we are seeing exceptional value in many companies, whose products, technologies, and services offer solutions to all stakeholders within the health care ecosystem. We believe that the convergence of innovation and value-based care within the sector will drive above market shareholder returns over the next decade,” says Matt Renna, Partner, Westfield Capital.

 

 

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