Ohio Fund Group Heading for the Big City
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Wednesday, July 05, 2006

Ohio Fund Group Heading for the Big City

By relocating its headquarters to Chicago, an Ohio-based fund firm plans to take advantage of richer human resources and industry services.

Harbor Capital Advisors, purchased by Dutch firm Robeco Groep from Owens-Illinois in 2001, announced plans to move 70 of 80 jobs out of its downtown Toledo base next year, the Toledo Blade has reported.

The fourteen no-load Harbor Funds have approximately $33 billion in assets.

Spokesperson John Hoff said the move reflects a trend towards specialization in the fund industry, in comments that suggested new hires on the horizon.

"They felt they needed to be in a location where they have access to employees and services that have specific knowledge, specific experience in the mutual fund industry," he said.

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