Global Equity Portfolio
Institutional Class – HLMVX
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
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.
Pricing as of 06/18/13
Documents
Fund Facts as of March 31, 2013
Ticker: HLMVX
Inception Date: 11/3/2009
Total Fund Assets: $482.5M
Minimum Investment: $100,000
Net Expense Ratio: 0.95%*
Gross Expense Ratio: 1.02%
CUSIP: 412295602
Total # of Holdings: 64
Redemption Fee: 2.00% first 90 days
Turnover (5 Yr. Average): 32%
dividend policy: Annual
Sales Charge: None
*Shown net of Harding Loevner's contractual agreement, through February 28, 2014, to waive its management fee to the extent necessary to cap the fund's total operating expenses at 0.95% (on an annualized basis).
| total returns % | avg. Annualized returns % | |||||
|---|---|---|---|---|---|---|
| month | 1 year | 3 years | 5 years | 10 years | since inception | |
| Global Equity Institutional class — HLMVX Inception: 11/03/09 | 0.04 | 18.50 | 11.86 | N.A. | N.A. | 9.61 |
| MSCI AC World Index | -0.27 | 26.02 | 12.30 | N.A. | N.A. | 9.98 |
| total returns % | avg. Annualized returns % | |||||
|---|---|---|---|---|---|---|
| quarter | 1 year | 3 years | 5 years | 10 years | since inception | |
| Global Equity Institutional class — HLMVX Inception: 11/03/09 | 4.71 | 6.09 | 7.73 | N.A. | N.A. | 9.62 |
| MSCI AC World Index | 6.50 | 10.55 | 7.78 | N.A. | N.A. | 9.67 |
Calendar Year Returns
Ten Largest Holdings as of March 31, 2013
| Company | Sector | Country | % |
|---|---|---|---|
| eBay | Info Technology | United States | 3.7 |
| Wells Fargo | Financials | United States | 3.6 |
| Unicharm | Consumer Staples | Japan | 3.1 |
| Nestlé | Consumer Staples | Switzerland | 3.0 |
| Info Technology | United States | 2.9 | |
| Microsoft | Info Technology | United States | 2.6 |
| Schlumberger | Energy | United States | 2.5 |
| Emerson Electric | Industrials | United States | 2.4 |
| Standard Chartered | Financials | United Kingdom | 2.3 |
| Coach | Consumer Discretionary | United States | 2.2 |
Ten Largest Holdings: 28.3 %
A complete list of holdings for this quarter is available here.
Sector Weightings (%) as of March 31, 2013
| Sector | Portfolio | Benchmark 1 |
|---|---|---|
| Consumer Discretionary | 13.9 | 10.9 |
| Consumer Staples | 12.5 | 10.8 |
| Energy | 5.8 | 10.2 |
| Financials | 19.7 | 21.3 |
| Health Care | 7.8 | 9.9 |
| Industrials | 7.5 | 10.5 |
| Information Technology | 22.6 | 12.0 |
| Materials | 6.5 | 6.8 |
| Telecom Services | 2.4 | 4.2 |
| Utilities | 0.0 | 3.4 |
| Cash | 1.3 | – |
1MSCI All Country World Index
Geographical Weightings (%) as of March 31, 2013
| Region | Portfolio | Benchmark 1 |
|---|---|---|
| Canada | 0.0 | 4.0 |
| Emerging Markets | 10.8 | 12.2 |
| Europe EMU | 7.1 | 10.1 |
| Europe ex-EMU | 14.6 | 13.3 |
| Frontier Markets | 0.0 | – |
| Japan | 9.0 | 7.8 |
| Middle East | 0.0 | 0.2 |
| Pacific ex-Japan | 3.2 | 5.2 |
| United States | 54.0 | 47.2 |
| Cash | 1.3 | – |
1MSCI All Country World Index
Frontier Markets includes countries with less developed markets outside the Benchmark.
Historical Fact Sheets
| Declared Date | Ex-Date | Record Date | Payment Date | Income | Short-Term Cap Gains | Long-Term Cap Gains |
| 12/3/2012 | 12/20/2012 | 12/19/2012 | 12/21/2012 | 0.11700 | – | – |
| 12/1/2011 | 12/19/2011 | 12/16/2011 | 12/20/2011 | 0.09783 | – | 0.21990 |
| 12/1/2010 | 12/16/2010 | 12/15/2010 | 12/17/2010 | 0.06120 | – | 0.16140 |
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.