International Equity Portfolio Institutional Class HLMIX - Performance
Monthly Portfolio Performance (%) For Periods Ending January 31, 2012
| Ticker: HLMIX | NAV (1/31/2012): $14.19 | Gross Expense Ratio: 0.86% | Minimum Investment: $100,000 |
| Annualized Returns | |||||
| 1 Month | 1 Year | 3 Years | 5 Years | 10 Years | |
|---|---|---|---|---|---|
| International Equity Portfolio | 6.21 | -4.81 | 21.20 | 1.36 | 7.26 |
| MSCI All Country World ex-US Index1,2 | 6.78 | -8.75 | 16.71 | -1.70 | 7.48 |
| Lipper International Fund Index2 | 6.67 | -10.10 | 15.11 | -2.65 | 6.41 |
Quarterly Portfolio Performance (%) For Periods Ending December 31, 2011
| NAV (12/31/2011): $13.36 |
| Annualized Returns | |||||
| 3 Months | 1 Year | 3 Years | 5 Years | 10 Years | |
|---|---|---|---|---|---|
| International Equity Portfolio | 6.00 | -9.78 | 14.22 | 0.46 | 6.18 |
| MSCI All Country World ex-US Index1,2 | 3.72 | -13.71 | 10.72 | -2.91 | 6.31 |
| Lipper International Fund Index2 | 4.31 | -14.49 | 8.70 | -3.72 | 5.29 |
1Benchmark Index; 2The indices are net of foreign withholding taxes on dividends, interest income and capital gains.
Performance data quoted represents past performance; past performance does not guarantee 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.
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 U.S. or other more established foreign markets. Economic and political instability may cause larger price changes in emerging markets securities than other foreign securities. 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.
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The Harding Loevner Funds are distributed by Quasar Distributors, LLC.