Global Equity May 2015 Update

We have written at length about the four key criteria (“4Cs”) on which we evaluate companies: sustainable growth, competitive advantage, quality management, and financial strength. Perhaps more importantly, the members of our investment staff look for changes in these attributes. It is important to understand not only where a company stands today on the 4C scale, but also whether a company is likely to accelerate growth, enhance its competitive advantage, improve corporate governance and management standards, or strengthen the balance sheet. One such example is Waters. The company operates within a consolidated niche of the life science tools industry that includes liquid chromatography, mass spectrometry, and thermal analysis systems. Our analysis of the company and its competitive positioning leads us to believe that Waters’ growth profile will improve over time as demand for its instruments increases. As an important supplier to pharmaceutical companies, we believe that it stands to benefit from increasing capital spending, both for researching new compounds and for running quality checks in drug manufacturing plants.

International Small Companies May 2015 Update

This month we bought shares in a Saudi Arabian fast food chain, Herfy. The fast food format has been gaining popularity in Saudi Arabia, and has grown at 8% per year for the last five years. Herfy primarily targets customers under 35 years old, a large and growing demographic in a country where almost half the population is under 24 years old. Young Saudis are increasingly drawn to fast food because the outlets provide an alternative destination for entertainment. The chain opened in 1981. It now operates 257 restaurants within Saudi Arabia and has 20 franchises in Bahrain, UAE, and Kuwait. In addition to restaurants, the company operates bakeries and meat processing facilities, which sell to the restaurant chain and to third parties. The company plans to expand outside the major cities and to double the number of restaurants over the next five years.

Welcome & Firm Overview

May 2011

David Loevner, President and CEO of Harding Loevner LP, is featured in this video. Mr. Loevner provides a brief history of the firm as well as a welcome to our corporate website.


The videos provide general background about Harding Loevner's investment philosophy and process. For more detailed information regarding particular investment strategies, please see our Publications page.

Any discussion of specific securities is not a recommendation to buy or sell. It should not be assumed that investment in the securities identified has been or will be profitable. To request a complete list of holdings for the past year, please contact Harding Loevner.

The portfolios invest in foreign securities, which involve greater volatility and political, economic and currency risks and differences in accounting methods. They also invest 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. The portfolios may invest in smaller companies which involve additional risks such as limited liquidity and greater volatility. Economic and political instability may cause larger price changes in emerging markets securities than other foreign securities.

Past performance does not guarantee future results. Investing involves risk. There is no guarantee that any investment strategy will meet its objective.

Global Equity

May 2011

Peter Baughan, Co-Lead Portfolio Manager of the Global Equity Strategy, is featured in this video.


The videos provide general background about Harding Loevner's investment philosophy and process. For more detailed information regarding particular investment strategies, please see our Publications page.

Any discussion of specific securities is not a recommendation to buy or sell. It should not be assumed that investment in the securities identified has been or will be profitable. To request a complete list of holdings for the past year, please contact Harding Loevner.

The portfolios invest in foreign securities, which involve greater volatility and political, economic and currency risks and differences in accounting methods. They also invest 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. The portfolios may invest in smaller companies which involve additional risks such as limited liquidity and greater volatility. Economic and political instability may cause larger price changes in emerging markets securities than other foreign securities.

Past performance does not guarantee future results. Investing involves risk. There is no guarantee that any investment strategy will meet its objective.

International Equity

May 2011

Alec Walsh, Co-Lead Portfolio Manager of the International Equity Strategy, is featured in this video.


The videos provide general background about Harding Loevner's investment philosophy and process. For more detailed information regarding particular investment strategies, please see our Publications page.

Any discussion of specific securities is not a recommendation to buy or sell. It should not be assumed that investment in the securities identified has been or will be profitable. To request a complete list of holdings for the past year, please contact Harding Loevner.

The portfolios invest in foreign securities, which involve greater volatility and political, economic and currency risks and differences in accounting methods. They also invest 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. The portfolios may invest in smaller companies which involve additional risks such as limited liquidity and greater volatility. Economic and political instability may cause larger price changes in emerging markets securities than other foreign securities.

Past performance does not guarantee future results. Investing involves risk. There is no guarantee that any investment strategy will meet its objective.

Investment Philosophy and Process

May 2011

Simon Hallett, Chief Investment Officer, discusses Harding Loevner's investment philosophy and process.


The videos provide general background about Harding Loevner's investment philosophy and process. For more detailed information regarding particular investment strategies, please see our Publications page.

Any discussion of specific securities is not a recommendation to buy or sell. It should not be assumed that investment in the securities identified has been or will be profitable. To request a complete list of holdings for the past year, please contact Harding Loevner.

The portfolios invest in foreign securities, which involve greater volatility and political, economic and currency risks and differences in accounting methods. They also invest 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. The portfolios may invest in smaller companies which involve additional risks such as limited liquidity and greater volatility. Economic and political instability may cause larger price changes in emerging markets securities than other foreign securities.

Past performance does not guarantee future results. Investing involves risk. There is no guarantee that any investment strategy will meet its objective.

Emerging Markets

May 2011

Rusty Johnson, Co-Lead Portfolio Manager of the Emerging Markets Strategy, is featured in this video.


The videos provide general background about Harding Loevner's investment philosophy and process. For more detailed information regarding particular investment strategies, please see our Publications page.

Any discussion of specific securities is not a recommendation to buy or sell. It should not be assumed that investment in the securities identified has been or will be profitable. To request a complete list of holdings for the past year, please contact Harding Loevner.

The portfolios invest in foreign securities, which involve greater volatility and political, economic and currency risks and differences in accounting methods. They also invest 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. The portfolios may invest in smaller companies which involve additional risks such as limited liquidity and greater volatility. Economic and political instability may cause larger price changes in emerging markets securities than other foreign securities.

Past performance does not guarantee future results. Investing involves risk. There is no guarantee that any investment strategy will meet its objective.

 

 

We build diversified portfolios of high-quality, growing companies identified through fundamental research.

Quarterly Webcast Schedule

Strategy

Presenters

Date & Time

Calendar Event

Webcast Link

Frontier Emerging Markets Equity

Babatunde Ojo, CFA

Jason Caiola, CFA, CFP

Tuesday July 21

11:00 AM EDT

Add to Calendar

WebEx

 
*Replays will be posted on the Publications page.

 
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Quarterly Webcast Replays

Strategy

Presenters

Date

Presentation Replay

Global Equity

Peter Baughan, CFA

Ryan Bowles, CFA

Tuesday, July14

Watch the Replay

International Equity

Alec Walsh, CFA

Steve Gannon

Wednesday, July 15

Watch the Replay

International Small Companies

Jafar Rizvi, CFA

Jared Tramutola, CFA

Wednesday, July 15

Watch the Replay

Emerging Markets

Craig Shaw, CFA

John Parsons, CFA

Thursday, July 16

Watch the Replay

International Equity ADR

Alec Walsh, CFA

S. Clarke Moody, CFA

George Antonak

Thursday, July 16

Watch the Replay

Frontier Emerging Markets

Babatunde Ojo, CFA

Jason Caiola, CFA

Tuesday, July 21

Watch the Replay

Global Equity ADR

S. Clarke Moody, CFA

Tuesday, July 21

Listen to the Replay