Frontier Emerging Markets Strategy - Performance
Composite Performance (%) For Periods Ending December 31, 2011
| Annualized Returns | |||||
| 3 Months | 1 Year | 3 Years | Since Inception1 | ||
|---|---|---|---|---|---|
| Frontier Emerging Markets (gross) | -0.68 | -19.52 | 13.51 | -10.14 | |
| Frontier Emerging Markets (net) | -1.05 | -20.73 | 11.98 | -11.35 | |
| MSCI Frontier Emerging Markets Index2 | 0.35 | -17.26 | 10.36 | -12.95 | |
1Inception Date: May 31, 2008; 2Benchmark Index.
The Frontier Emerging Markets Composite contains fully discretionary US dollar-based frontier emerging markets accounts. Harding Loevner is an affiliate of Affiliated Managers Group, Inc. (NYSE: AMG), an investment holding company with stakes in a diverse group of boutique firms. Harding Loevner claims compliance with the Global Investment Performance Standards (GIPS®). Harding Loevner has been independently verified by Ashland Partners & Company, LLP for the period November 1, 1989 through June 30, 2011. Verification assess whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policy and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any composite presentation. The Frontier Emerging Markets Composite has not received a performance examination. Performance data quoted represents past performance; past performance does not guarantee future results. The US dollar is the currency used to express performance. Complete information on the construction and historical record of the Frontier Emerging Markets Composite is available by clicking here.