Global Equity Portfolio

Advisor Class – HLMGX

Strategy Information

For more information about the strategy behind this fund, its portfolio team, and their current thinking, see the Global Equity strategy page on HardingLoevner.com.
 

Portfolio Team

Peter Baughan, CFA, Co-Lead Portfolio Manager
Ferrill Roll, CFA, Co-Lead Portfolio Manager
Christopher Mack, CFA, Portfolio Manager
Alexander Walsh, CFA, Portfolio Manager

Go to Our People at HardingLoevner.com to learn more about the Portfolio Managers for this mutual fund.
 

How to Invest

Visit Literature & Forms for Investing to obtain more information on investing in this mutual fund.
 


Fund Facts as of September 30, 2014

Ticker: HLMGX

Inception Date: 12/1/1996

Total Fund Assets: $791.1M

Minimum Investment: $5,000

Net expense ratio: 1.20%

Gross Expense Ratio: 1.22%

CUSIP: 412295206

Total # of Holdings: 69

Redemption Fee: 2.00% first 90 days

Turnover (5 Yr. Average): 29%

dividend policy: Annual

Sales Charge: None

The Net Expense Ratio is as of September 30, 2014 as the Portfolio is operating below the contractual agreement, which is in effect until February 28, 2015. The Gross Expense Ratio is as of the Prospectus, dated February 28, 2014.


for periods ending October 31, 2014
total returns % avg. Annualized returns %
  month 1 year 3 years 5 years 10 years since inception
Global Equity Advisor - HLMGXInception: 12/01/96 2.21 11.23 12.90 10.85 9.08 6.82
MSCI All Country World Index 0.70 7.78 12.99 10.57 7.09 6.03
for periods ending September 30, 2014
total returns % avg. Annualized returns %
  quarter 1 year 3 years 5 years 10 years since inception
Global Equity Advisor - HLMGXInception: 12/01/96 -1.14 11.87 15.68 10.10 9.19 6.72
MSCI All Country World Index -2.30 11.33 16.62 10.08 7.28 6.02

Calendar Year Returns

Ten Largest Holdings as of September 30, 2014

   
Company Sector Country %
Sigma-Aldrich Materials United States 3.0
Nike Cons Discretionary United States 2.9
Schlumberger Energy United States 2.8
eBay Info Technology United States 2.6
Nestlé Cons Staples Switzerland 2.5
Google Info Technology United States 2.3
Roper Industrials United States 2.3
Roche Holding Health Care Switzerland 2.3
Microsoft Info Technology United States 2.3
Allergan Health Care United States 2.2

Ten Largest Holdings: 25.2 %

A complete list of holdings for this quarter is available here.


Sector Weightings (%) as of September 30, 2014

   
Sector Portfolio Benchmark 1
Consumer Discretionary 11.1 11.4
Consumer Staples 9.6 9.6
Energy 5.3 9.4
Financials 18.0 21.5
Health Care 15.1 11.3
Industrials 7.5 10.4
Information Technology 22.2 13.4
Materials 6.7 5.8
Telecom Services 1.5 3.9
Utilities 0.0 3.3
Cash 3.0

1MSCI All Country World Index


Geographical Weightings (%) as of September 30, 2014

   
Region Portfolio Benchmark 1
Canada 0.0 3.8
Emerging Markets 9.5 10.8
Europe EMU 6.5 10.7
Europe ex-EMU 12.4 12.6
Frontier Markets 0.0
Japan 8.5 7.4
Middle East 0.0 0.2
Pacific ex-Japan 3.6 4.2
United States 56.5 50.3
Cash 3.0

1MSCI All Country World Index

Frontier Markets includes countries with less-developed markets outside the Benchmark.

Declared Date Ex-Date Record Date Payment Date Income Short-Term Cap Gains Long-Term Cap Gains
12/2/2013 12/20/2013 12/19/2013 12/23/2013 0.07252 0.00233 0.12470
12/3/2012 12/20/2012 12/19/2012 12/21/2012 0.04823
12/1/2011 12/19/2011 12/16/2011 12/20/2011 0.04575 0.21990
12/1/2010 12/16/2010 12/15/2010 12/17/2010 0.00691 0.16140
12/1/2009 12/17/2009 12/16/2009 12/18/2009 0.04200
12/1/2008 12/17/2008 12/16/2008 12/18/2008 0.09000
12/1/2007 12/13/2007 12/12/2007 12/14/2007 0.08340 0.05860 1.93670
12/1/2006 12/14/2006 12/13/2006 12/15/2006 0.07660 1.79640
12/1/2005 12/28/2005 12/27/2005 12/29/2005 0.06110 0.48130
12/1/2004 12/27/2004 12/23/2004 12/28/2004 0.02240
12/1/2003 12/28/2003 12/27/2003 12/29/2003 0.06544
12/2/2002 12/26/2002 12/24/2002 12/27/2002 0.03458
12/1/2001 12/28/2001 12/27/2001 12/29/2001 0.00430 0.05890
12/1/2000 12/28/2000 12/27/2000 12/29/2000 0.27760 2.00490
12/1/1999 12/28/1999 12/27/1999 12/29/1999 0.16110 1.94800
12/1/1998 12/31/1998 12/30/1998 01/04/1999      
12/1/1997 12/31/1997 12/30/1997 12/31/1997 0.24570 1.94350
12/2/1996 12/31/1996 12/27/1996 12/31/1996 0.01270

Performance data quoted represents past performance; past performance is not a guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Portfolio may be lower or higher than the performance quoted. The Portfolio imposes a 2% redemption fee on shares held 90 days or less. Performance data does not reflect the redemption fee. If reflected, total returns would be reduced.

Investment performance reflects fee waivers and in the absence of these waivers investment performance would be reduced.

Portfolio holdings are subject to review and adjustment in accordance with the Portfolio's investment strategy and may vary in the future, and should not be considered recommendations to buy or sell any security. The Portfolio is actively managed therefore holdings may not be current. A complete list of holdings is available here.

Mutual fund investing involves risk. Principal loss is possible. The Portfolio invests in foreign securities, which will involve greater volatility and political, economic, and currency risks and differences in accounting methods. It also invests in emerging markets, which involve unique risks, such as exposure to economies less diverse and mature than the US or other more established foreign markets. Economic and political instability may cause larger price changes in emerging markets securities than other foreign securities. Such risks may be magnified for securities in frontier emerging markets. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the Portfolio in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. Investments in smaller companies involve additional risks such as limited liquidity and greater volatility.

While the Portfolio is "no load", management fees and expenses will apply. Please refer to the Prospectus for additional details.

Please click here for Index definitions.

Index Definitions


The MSCI All Country World ex-US Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global developed and emerging markets, excluding the US. The Index consists of 45 developed and emerging market countries. Net dividends reinvested.

The MSCI All Country World ex-US Small Cap Index is a free-float market capitalization index that is designed to measure small cap developed and emerging market equity performance. The Index consists of 45 developed and emerging markets countries and targeting companies market capitalization range of USD 170–4,200 million in terms of the company’s full market capitalization.

The MSCI All Country World Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global developed and emerging markets. The Index consists of 46 developed and emerging market countries. Net dividends reinvested. 

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. The Index consists of 23 emerging market countries. Net dividends reinvested. 

The MSCI Frontier Emerging Markets Index is a free float-adjusted market capitalization index designed to measure equity market performance in all countries from the MSCI Frontier Markets Index and the lower size spectrum of the MSCI Emerging Markets Index. The Index consists of 24 frontier markets and 4 emerging markets. Net dividends reinvested.

You cannot invest directly in these Indices.