At Harding Loevner, we focus on building portfolios from the bottom up, guided by our quality-growth philosophy, and rarely comment on actions of other investors or index providers. But sometimes it’s necessary to do so to highlight meaningful developments affecting the frontier emerging markets (FEM) asset class. In June, asset manager BlackRock...Read More
By Sergey Dubin, CFA, Analyst and Portfolio Manager
The following is based on a panel discussion among our retail analysts at the Harding Loevner 2024 Investor Forum. The three most important considerations for companies in the retail industry are product, price, and place. This is because a retailer generally differentiates itself through what it sells, how much it charges, or...Read More
It has been our long-standing belief that high-quality businesses will weather difficult or shifting economic environments better than most. This, in part, is due to their operational resilience that allows us to hold on to our investments in their shares during periods of stock market turmoil. In our semi-annual letter to shareholders,...Read More
The holy month of Ramadan affects companies and products differently each year, and it is essential for investors in Muslim-majority countries to understand these effects. The holiday, during which Muslims fast from dawn to dusk, starts 10-12 days earlier each year, unlike fixed holidays such as Christmas. This year, Ramadan starts at...Read More
When US stocks have outperformed for as long as they have—creating the world’s first trillion-dollar companies in the process—it’s easy to forget that plenty of highly profitable businesses exist a long way from Silicon Valley or Seattle. While US companies account for just over 60% of the market capitalization of the MSCI...Read More
By Timothy Kubarych, CFA, Co-Deputy Director of Research
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For more detailed information regarding particular investment strategies, please visit our website, www.hardingloevner.com. Any statements made by employees of Harding Loevner are solely their own.
Any discussion of specific securities is not a recommendation to purchase or sell a particular security. Non-performance based criteria have been used to select the securities identified. 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.