Global Equity Second Quarter 2014 Update

The one fillip to the excitement-deprivation caused by the low volatility has been the resurgence of merger activity, especially in the IT and the Health Care sectors. While newly emergent technologies have always drawn a high degree of M&A activity, the buoyant market for initial public offerings and the rapid changes in the social media and data center management have led to feverish activity in that sector. Whether in IT or Health Care, what is clear is that the market may, at last, be interested again in companies that invest for growth, either by investing in research or in organic expansion, or by acquiring related businesses. The singular feature of much of the M&A activity announced this year is that the share price of the predator/acquirer has reacted well—often rising—to the news of the potential transaction. The market is starved for growth, and is giving somewhat more benefit of the doubt to managements who will take steps to deliver it. This attitude is a sea change from the past couple of years, when investors’ focus was on dividend yield (as it continued so, with Utilities, this quarter) or on the return of capital through share buybacks.

Emerging Markets Second Quarter 2014 Update

After many years of voting for promises, Indian voters now seem to be demanding a real change with the landslide victory in May of Narendra Modi, a noted reformer and politician credited with getting things done. India hasn’t been getting it done. Inflation has more than doubled over the last 10 years, with demand fueled by social grants and supply stymied by corruption and political gridlock. As a result, productivity has fallen and the currency weakened. We believe that the most important achievement of the Modi government would be to remove supply-side constraints by reducing red tape and corruption. We see great potential arising from increased political accountability: deliver, or out. If this becomes the new norm, especially at state and local levels, then India may be on the doorstep of much-needed change and progress on key issues such as infrastructure build-out and energy reform.

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 Replays

Strategy

Presenters

Date

Presentation Replay

Global Equity

Peter Baughan, CFA

Lindsey Andresen

Simon Hallett, CFA

July 15, 2014

Watch the Replay

Frontier Emerging Markets

Pradipta Chakrabortty

John Parsons

Simon Hallett, CFA

July 15, 2014

Watch the Replay

Emerging Markets

Craig Shaw, CFA

Steve Gannon

Simon Hallett, CFA

July 16, 2014

Watch the Replay

International Equity ADR

S. Clarke Moody, CFA

George Antonak

Simon Hallett, CFA

July 16, 2014

Watch the Replay

International Equity

Alec Walsh, CFA

Kristin Burke

Simon Hallett, CFA

July 17, 2014

Watch the Replay

International Small Companies

Josephine Lewis

Patrick Broderick

July 17, 2014

Watch the Replay

Global Equity ADR

S. Clarke Moody, CFA

July 18, 2014

Listen to the Review