US Mutual Funds

Emerging Markets Portfolio

The Institutional Emerging Markets Portfolio and Emerging Markets Portfolio invest in high-quality, growing companies that derive a substantial share of their revenues, or have a significant portion of their assets, in emerging and frontier markets countries.


The Institutional Emerging Markets Portfolio and Emerging Markets Portfolio are closed to new investors. For more information, please review our announcement and the prospectus for Institutional and Individual Investors.
  

The Institutional Emerging Markets Portfolio, Class I requires a higher minimum investment than the Advisor Class of the Emerging Markets Portfolio, and has a lower expense ratio.

The Institutional Emerging Markets Portfolio, Class II requires the highest minimum investment of the three mutual fund options, and has the lowest expense ratio.

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PERFORMANCE (%)

Institutional, Class I — HLMEX

as of January 31, 2017

 
More
1 Month 1 YR 3 YR 5 YR 10 YR Since
Inception
Emerging Markets
Inception: 10/17/2005
5.70 25.96 3.05 3.58 3.39 6.56
MSCI Emerging Markets Index 5.47 25.42 1.44 0.18 2.49 5.87

Institutional, Class I — HLMEX

as of December 31, 2016

 
More
Quarter 1 YR 3 YR 5 YR 10 YR Since
Inception
Emerging Markets
Inception: 10/17/2005
-4.75 13.27 -1.29 4.21 2.73 6.08
MSCI Emerging Markets Index -4.16 11.20 -2.55 1.27 1.83 5.41

Current Pricing

Institutional, Class I — HLMEX

as of February 22, 2017

 
More
NAV Daily
Change
Change (%) YTD
Return (%)
Emerging Markets 18.43 0.03 0.16 9.44

Returns are annualized for periods greater than one year.

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.

  

.

Fund Facts

Institutional, Class I - HLMEX

as of December 31, 2016


HLMEX
TICKER
10/17/2005
INCEPTION DATE
$3,350.0M
TOTAL FUND ASSETS
$500,000
MINIMUM INVESTMENT
1.28%*
NET EXPENSE RATIO
1.31%
GROSS EXPENSE RATIO
412295701
CUSIP
78
TOTAL # OF HOLDINGS
2.00% first 90 days
REDEMPTION FEE
25%
TURNOVER (5 YR. AVG)
Annual
DIVIDEND POLICY
None
SALES CHARGE

*The Net Expense Ratio is as of December 31, 2016 as the Portfolio is operating below the contractual agreement, which is in effect until February 28, 2017; The Gross Expense Ratio is as of the Prospectus dated February 29, 2016.

.

PORTFOLIO

as of December 31, 2016

 
More
Company Sector Country %
Samsung Electronics Info Technology South Korea 5.6
Taiwan Semiconductor Info Technology Taiwan 4.5
Sberbank Financials Russia 3.5
Tencent Info Technology China 3.0
Lukoil Energy Russia 2.6
AIA Group Financials Hong Kong 2.5
Sands China Cons Discretionary Hong Kong 2.3
CNOOC Energy China 2.1
Axis Bank Financials India 1.8
Itau Unibanco Financials Brazil 1.7

10 Largest Holdings: 29.6%

A complete list of holdings for this quarter is available here.

as of December 31, 2016

 
More
Sector Portfolio MSCI Emerging Markets Index
Cons Discretionary 14.2 10.3
Cons Staples 7.6 7.2
Energy 6.8 7.9
Financials 29.6 24.4
Health Care 3.6 2.5
Industrials 5.5 5.7
Info Technology 22.0 23.2
Materials 1.8 7.4
Real Estate 0.6 2.6
Telecom Services 3.1 5.9
Utilities 1.1 2.9
Cash 4.1

as of December 31, 2016

 
More
Region Portfolio MSCI Emerging Markets Index
Brazil 6.6 7.7
China + Hong Kong 22.6 26.5
India 7.6 8.3
Mexico 5.0 3.5
Russia 6.1 4.5
South Africa 5.4 7.1
South Korea 11.1 14.4
Taiwan 8.9 12.2
Small Emerging Markets 16.2 15.8
Frontier Markets 1.3
Developed Market Listed 5.1
Cash 4.1

"Small Emerging Markets" includes the remaining emerging markets, which individually, comprise less than 5% of the Index.
"Frontier Markets" includes countries with less-developed markets outside the Index.
"Developed Market Listed" includes emerging markets or frontier markets companies listed in developed markets, excluding Hong Kong.

.

FACTSHEETS

  

PORTFOLIO MANAGERS

Pradipta Chakrabortty    
Scott Crawshaw    
G. Rusty Johnson, CFA         Co-Lead
Richard Schmidt, CFA    
Craig Shaw, CFA   Co-Lead

 

 

INVESTMENT DOCUMENTS

INSTITUTIONAL, CLASS I HLMEX
.

Distributions

Institutional, Class I - HLMEX

More
declared date ex-date record
date
payment
date
income short-term
cap gains
long-term
cap gains
12/1/2016 12/16/2016 12/15/2016 12/19/2016 0.10394 - -
12/1/2015 12/18/2015 12/17/2015 12/21/2015 0.09484 - -
12/1/2014 12/19/2014 12/18/2014 12/22/2014 0.12553 - -
12/2/2013 12/20/2013 12/19/2013 12/23/2013 0.14680 - -
12/3/2012 12/20/2012 12/19/2012 12/21/2012 0.11556 - -
12/1/2011 12/19/2011 12/16/2011 12/20/2011 0.16041 - -
12/1/2010 12/16/2010 12/15/2010 12/17/2010 0.04307 - -
12/1/2009 12/17/2009 12/16/2009 12/18/2009 0.09300 - -
12/1/2008 12/17/2008 12/16/2008 12/18/2008 0.37000 - -
12/1/2007 12/13/2007 12/12/2007 12/14/2007 0.09020 0.29170 0.43470
12/1/2006 12/14/2006 12/13/2006 12/15/2006 0.01850 - -
12/1/2005 12/28/2005 12/27/2005 12/29/2005 0.01960 - -

The Institutional Emerging Markets Portfolio, Class I requires a higher minimum investment than the Advisor Class of the Emerging Markets Portfolio, and has a lower expense ratio.

The Institutional Emerging Markets Portfolio, Class II requires the highest minimum investment of the three mutual fund options, and has the lowest expense ratio.

.

PERFORMANCE (%)

Institutional, Class II — HLEEX

as of January 31, 2017

 
More
1 Month 1 YR 3 YR 5 YR 10 YR Since
Inception
Emerging Markets
Inception: 03/05/2014
5.76 26.35 N/A N/A N/A 1.65
MSCI Emerging Markets Index 5.47 25.42 N/A N/A N/A 0.61

Institutional, Class II — HLEEX

as of December 31, 2016

 
More
Quarter 1 YR 3 YR 5 YR 10 YR Since
Inception
Emerging Markets
Inception: 03/05/2014
-4.78 13.44 N/A N/A N/A -0.30
MSCI Emerging Markets Index -4.16 11.20 N/A N/A N/A -1.25

Current Pricing

Institutional, Class II — HLEEX

as of February 22, 2017

 
More
NAV Daily
Change
Change (%) YTD
Return (%)
Emerging Markets 10.45 0.01 0.10 9.42

Returns are annualized for periods greater than one year.

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.

  

.

Fund Facts

Institutional, Class II - HLEEX

as of December 31, 2016


HLEEX
TICKER
3/5/2014
INCEPTION DATE
$3,350.0M
TOTAL FUND ASSETS
$25,000,000
MINIMUM INVESTMENT
1.13%*
NET EXPENSE RATIO
1.27%
GROSS EXPENSE RATIO
412295842
CUSIP
78
TOTAL # OF HOLDINGS
2.00% first 90 days
REDEMPTION FEE
25%
TURNOVER (5 YR. AVG)
Annual
DIVIDEND POLICY
None
SALES CHARGE

*The Net Expense Ratio is as of December 31, 2016 as the Portfolio is operating below the contractual agreement, which is in effect until February 28, 2017; The Gross Expense Ratio is as of the Prospectus dated February 29, 2016.

.

PORTFOLIO

as of December 31, 2016

 
More
Company Sector Country %
Samsung Electronics Info Technology South Korea 5.6
Taiwan Semiconductor Info Technology Taiwan 4.5
Sberbank Financials Russia 3.5
Tencent Info Technology China 3.0
Lukoil Energy Russia 2.6
AIA Group Financials Hong Kong 2.5
Sands China Cons Discretionary Hong Kong 2.3
CNOOC Energy China 2.1
Axis Bank Financials India 1.8
Itau Unibanco Financials Brazil 1.7

10 Largest Holdings: 29.6%

A complete list of holdings for this quarter is available here.

as of December 31, 2016

 
More
Sector Portfolio MSCI Emerging Markets Index
Cons Discretionary 14.2 10.3
Cons Staples 7.6 7.2
Energy 6.8 7.9
Financials 29.6 24.4
Health Care 3.6 2.5
Industrials 5.5 5.7
Info Technology 22.0 23.2
Materials 1.8 7.4
Real Estate 0.6 2.6
Telecom Services 3.1 5.9
Utilities 1.1 2.9
Cash 4.1

as of December 31, 2016

 
More
Region Portfolio MSCI Emerging Markets Index
Brazil 6.6 7.7
China + Hong Kong 22.6 26.5
India 7.6 8.3
Mexico 5.0 3.5
Russia 6.1 4.5
South Africa 5.4 7.1
South Korea 11.1 14.4
Taiwan 8.9 12.2
Small Emerging Markets 16.2 15.8
Frontier Markets 1.3
Developed Market Listed 5.1
Cash 4.1

"Small Emerging Markets" includes the remaining emerging markets, which individually, comprise less than 5% of the Index.
"Frontier Markets" includes countries with less-developed markets outside the Index.
"Developed Market Listed" includes emerging markets or frontier markets companies listed in developed markets, excluding Hong Kong.

.

FACTSHEETS

  

PORTFOLIO MANAGERS

Pradipta Chakrabortty    
Scott Crawshaw    
G. Rusty Johnson, CFA         Co-Lead
Richard Schmidt, CFA    
Craig Shaw, CFA   Co-Lead

 

 

INVESTMENT DOCUMENTS

INSTITUTIONAL, CLASS II HLEEX
.

Distributions

Institutional Class - HLEEX

More
declared date ex-date record
date
payment
date
income short-term
cap gains
long-term
cap gains
12/1/2016 12/16/2015 12/15/2016 12/19/2016 0.11392 - -
12/1/2015 12/18/2015 12/17/2015 12/21/2015 0.10483 - -
12/1/2014 12/19/2014 12/18/2014 12/22/2014 0.13124 - -

The Institutional Emerging Markets Portfolio, Class I requires a higher minimum investment than the Advisor Class of the Emerging Markets Portfolio, and has a lower expense ratio.

The Institutional Emerging Markets Portfolio, Class II requires the highest minimum investment of the three mutual fund options, and has the lowest expense ratio.

.

PERFORMANCE (%)

Advisor Class — HLEMX

as of January 31, 2017

 
More
1 Month 1 YR 3 YR 5 YR 10 YR Since
Inception
Emerging Markets
Inception: 11/09/1998
5.71 26.16 3.10 3.59 3.34 11.31
MSCI Emerging Markets Index 5.47 25.42 1.44 0.18 2.49 N/A

Advisor Class — HLEMX

as of December 31, 2016

 
More
Quarter 1 YR 3 YR 5 YR 10 YR Since
Inception
Emerging Markets
Inception: 11/09/1998
-4.85 13.20 -1.27 4.24 2.66 11.03
MSCI Emerging Markets Index -4.16 11.20 -2.55 1.27 1.83 N/A

Index performance prior to 1/1/2001 is not reported since a portion of it relies on back-tested data.

Current Pricing

Advisor Class — HLEMX

as of February 22, 2017

 
More
NAV Daily
Change
Change (%) YTD
Return (%)
Emerging Markets 48.29 0.07 0.15 9.43

Returns are annualized for periods greater than one year.

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.

  

.

Fund Facts

Advisor Class - HLEMX

as of December 31, 2016


HLEMX
TICKER
11/9/1998
INCEPTION DATE
$2,934.1M
TOTAL FUND ASSETS
$5,000
MINIMUM INVESTMENT
1.45%
EXPENSE RATIO
412295305
CUSIP
78
TOTAL # OF HOLDINGS
2.00% first 90 days
REDEMPTION FEE
28%
TURNOVER (5 YR. AVG)
Annual
DIVIDEND POLICY
None
SALES CHARGE
.

PORTFOLIO

as of December 31, 2016

 
More
Company Sector Country %
Samsung Electronics Info Technology South Korea 5.6
Taiwan Semiconductor Info Technology Taiwan 4.5
Sberbank Financials Russia 3.5
Tencent Info Technology China 3.0
Lukoil Energy Russia 2.6
AIA Group Financials Hong Kong 2.5
Sands China Cons Discretionary Hong Kong 2.3
CNOOC Energy China 2.1
Axis Bank Financials India 1.8
Itau Unibanco Financials Brazil 1.8

10 Largest Holdings: 29.7%

A complete list of holdings for this quarter is available here.

as of December 31, 2016

 
More
Sector Portfolio MSCI Emerging Markets Index
Cons Discretionary 14.3 10.3
Cons Staples 7.7 7.2
Energy 6.8 7.9
Financials 29.8 24.4
Health Care 3.7 2.5
Industrials 5.6 5.7
Info Technology 22.1 23.2
Materials 1.8 7.4
Real Estate 0.5 2.6
Telecom Services 3.2 5.9
Utilities 1.1 2.9
Cash 3.4

as of December 31, 2016

 
More
Region Portfolio MSCI Emerging Markets Index
Brazil 6.6 7.7
China + Hong Kong 22.7 26.5
India 7.7 8.3
Mexico 5.0 3.5
Russia 6.1 4.5
South Africa 5.5 7.1
South Korea 11.1 14.4
Taiwan 9.1 12.2
Small Emerging Markets 16.3 15.8
Frontier Markets 1.3
Developed Market Listed 5.2
Cash 3.4

"Small Emerging Markets" includes the remaining emerging markets, which individually, comprise less than 5% of the Index.
"Frontier Markets" includes countries with less-developed markets outside the Index.
"Developed Market Listed" includes emerging markets or frontier markets companies listed in developed markets, excluding Hong Kong.

.

FACTSHEETS

  

PORTFOLIO MANAGERS

Pradipta Chakrabortty    
Scott Crawshaw    
G. Rusty Johnson, CFA         Co-Lead
Richard Schmidt, CFA    
Craig Shaw, CFA   Co-Lead

 

 

INVESTMENT DOCUMENTS

ADVISOR CLASS - HLEMX
.

Distributions

Advisor Class - HLEMX

More
declared date ex-date record
date
payment
date
income short-term
cap gains
long-term
cap gains
12/1/2016 12/16/2015 12/15/2016 12/19/2016 0.26311 - -
12/1/2015 12/18/2015 12/17/2015 12/21/2015 0.21671 - 0.00099
12/1/2014 12/19/2014 12/18/2014 12/22/2014 0.38561 - 1.93332
12/2/2013 12/20/2013 12/19/2013 12/23/2013 0.40257 - 1.28550
12/3/2012 12/20/2012 12/19/2012 12/21/2012 0.35740 - 3.14809
12/1/2011 12/19/2011 12/16/2011 12/20/2011 0.34529 - -
12/1/2010 12/16/2010 12/15/2010 12/17/2010 0.20256 - -
12/1/2009 12/17/2009 12/16/2009 12/18/2009 0.12630 - -
12/1/2008 12/17/2008 12/16/2008 12/18/2008 0.37000 - -
12/1/2007 12/13/2007 12/12/2007 12/14/2007 0.11850 0.44450 2.83660
12/1/2006 12/14/2006 12/13/2006 12/15/2006 0.02360 - -
12/1/2005 12/28/2005 12/27/2005 12/29/2005 0.08640 - 0.05530
12/1/2004 12/27/2004 12/23/2004 12/28/2004 0.02360 - 0.41960
12/1/2003 12/28/2003 12/27/2003 12/29/2003 0.03785 - -
12/2/2002 12/26/2002 12/24/2002 12/27/2002
12/1/2001 12/28/2001 12/27/2001 12/29/2001 0.01040 - -
12/1/2000 12/28/2000 12/27/2000 12/29/2000 - - 1.13070
12/1/1999 12/28/1999 12/27/1999 12/29/1999 0.02490 0.50900 -

  

Read more about this strategy

  

Invest through your broker or adviser,
or invest directly


Please click here for Index Definitions.

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. Investing in participation notes involve the same risks associated with a direct investment in the underlying security, currency or market. 

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 for the Institutional Emerging Markets Portfolio is available here. A complete list of holdings for the Emerging Markets Portfolio, Advisor Class is available here.

While the Portfolio is "no load", management fees and expenses will apply. Please refer to the Prospectus for additional details.

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NOTICE TO PERSONS IN AUSTRALIA AND NEW ZEALAND

The information on this website is issued by Trust Company (RE Services) Limited (ABN 45 003 278 831; AFSL 235150) as Responsible Entity of, and issuer of units in, the Harding Loevner Emerging Markets Equity Fund ARSN 604 215 296 (“Fund”), and approved by Harding Loevner LP (“Harding Loevner”), as the Investment Manager of the Fund. Harding Loevner is exempt from the requirement to hold an Australian financial services licence under the Corporations Act 2001 (Cth) in respect of the financial services it provides to wholesale clients, and is not licensed to provide financial services to retail clients, in Australia. Harding Loevner is regulated by the Securities and Exchange Commission of the United States of America under US laws, which differ from Australian laws.

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