UCITS Funds

Global Equity Fund

The Global Equity Fund invests in high-quality, growing companies in and outside the United States.


Currency classes offer an operational and reporting convenience for clients by allowing investors to view performance by their local currency and transact in their local currency. Exposures are consistent across all currency classes within the sub-fund. The base currency for the Fund is US Dollar.

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PERFORMANCE (%)

as of November 30, 2018

 
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1 Month 1 YR 3 YR 5 YR 10 YR Since
Inception
Total Expense
Ratio
Class A — US Dollar
Inception: 06/21/2007
1.58 -0.65 9.85 8.54 12.53 6.18 0.84
MSCI All Country World Index — US Dollar 1.46 -0.98 8.57 6.16 10.66 3.92 N/A
Class A — Euro
Inception: 06/21/2007
1.62 4.47 7.35 12.59 13.83 7.83 0.84
MSCI All Country World Index — Euro 1.53 4.28 6.08 10.14 11.92 5.46 N/A
Class A — GBP Sterling
Inception: 03/05/2008
1.90 5.45 16.13 14.10 14.70 11.55 0.84
MSCI All Country World Index — GBP Sterling 1.61 5.05 14.72 11.60 12.72 9.39 N/A
Class B — US Dollar
Inception: 06/05/2018
1.65 N/A N/A N/A N/A -7.60 1.09
MSCI All Country World Index — US Dollar 1.46 N/A N/A N/A N/A -3.99 N/A
Class M — Euro
Inception: 01/31/2018
1.62 N/A N/A N/A N/A 0.40 0.79
MSCI All Country World Index — Euro 1.53 N/A N/A N/A N/A 1.49 N/A
Class M — GBP Sterling
Inception: 11/24/2015
1.90 5.49 16.22 N/A N/A 16.09 0.79
MSCI All Country World Index — GBP Sterling 1.61 5.05 14.72 N/A N/A 14.55 N/A
Class M — Singapore Dollar
Inception: 09/21/2015
0.58 1.10 8.88 N/A N/A 10.64 0.79
MSCI All Country World Index — Singapore Dollar 0.52 0.86 7.61 N/A N/A 8.42 N/A
Class D — US Dollar
Inception: 01/04/2018
1.51 N/A N/A N/A N/A -5.60 1.59
MSCI All Country World Index — US Dollar 1.46 N/A N/A N/A N/A -4.47 N/A

as of September 30, 2018

 
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Quarter 1 YR 3 YR 5 YR 10 YR Since
Inception
Total Expense
Ratio
Class A — US Dollar
Inception: 06/21/2007
2.94 13.63 16.87 11.48 10.48 7.10 0.84
MSCI All Country World Index — US Dollar 4.28 9.77 13.40 8.67 8.19 4.56 N/A
Class A — Euro
Inception: 06/21/2007
3.50 15.69 15.39 14.96 12.58 8.54 0.84
MSCI All Country World Index — Euro 4.82 11.73 11.90 12.04 10.26 5.90 N/A
Class A — GBP Sterling
Inception: 03/05/2008
4.19 16.81 22.83 16.42 13.88 12.43 0.84
MSCI All Country World Index — GBP Sterling 5.57 12.94 19.20 13.48 11.62 9.98 N/A
Class B — US Dollar
Inception: 06/05/2018
2.80 N/A N/A N/A N/A 0.80 1.09
MSCI All Country World Index — US Dollar 4.28 N/A N/A N/A N/A 2.30 N/A
Class M — Euro
Inception: 01/31/2018
3.59 N/A N/A N/A N/A 6.90 0.79
MSCI All Country World Index — Euro 4.82 N/A N/A N/A N/A 5.41 N/A
Class M — GBP Sterling
Inception: 11/24/2015
4.26 16.94 N/A N/A N/A 19.77 0.79
MSCI All Country World Index — GBP Sterling 5.57 12.94 N/A N/A N/A 17.14 N/A
Class M — Singapore Dollar
Inception: 09/21/2015
3.30 14.66 15.37 N/A N/A 14.40 0.79
MSCI All Country World Index — Singapore Dollar 4.49 10.45 11.90 N/A N/A 11.05 N/A
Class D — US Dollar
Inception: 01/04/2018
2.79 N/A N/A N/A N/A 3.20 1.59
MSCI All Country World Index — US Dollar 4.28 N/A N/A N/A N/A 1.78 N/A

Returns since inception are total returns for currency classes less than one year old; returns are annualized for periods greater than one year.

Harding Loevner has contractually agreed to cap the Class A total expense ratio at 0.90%.
Harding Loevner has contractually agreed to cap the Class M total expense ratio at 0.80%.
Harding Loevner has contractually agreed to cap the Class B total expense ratio at 1.15%.

Current Pricing

as of December 11, 2018

 
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NAV Daily
Change
Change (%) YTD
Return (%)
Class A — US Dollar 1.893 0.001 0.053 -7.069
Class A — Euro 1.670 0.006 0.361 -1.475
Class A — GBP Sterling 1.514 0.009 0.598 0.437
Class B — US Dollar 0.880 0.001 0.114 -12.000
Class B — GBP Sterling 0.920 0.005 0.546 -8.000
Class M — Euro 0.957 0.003 0.314 -4.300
Class M — GBP Sterling 1.508 0.009 0.600 0.458
Class M — Singapore Dollar 1.318 N/A N/A -4.424
Class D — US Dollar 0.900 0.001 0.111 -10.000
Class S — GBP Sterling 1.009 0.006 0.598 0.900
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Fund Facts

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Currency Inception
Date
Minimum
Investment
Distribution
Policy
Local Tax
Status
Bloomberg Reuters SEDOL/CUSIP ISIN
US Dollar
7/18/2011 US$1,000,000 No Entitlement n/a HARLVUA 68121361 B1WL5L3/
G42927122
IE00B1WL5L32
Euro
6/21/2007 US$1,000,000 equivalent No Entitlement n/a HARLVEA 68044908 B1WL5K2 IE00B1WL5K25
GBP Sterling
3/5/2008 US$1,000,000 equivalent Net Income; Semi-Annual UK Reporting Fund HARLVGA 68044909 B1WL5J1 IE00B1WL5J10
GBP Sterling
10/26/2018 US$30,000,000 equivalent Net Income; Semi-Annual n/a HARLGSG 68521567 BDQZGJ0 IE00BDQZGJ06
Singapore Dollar
9/21/2015 US$50,000,000 equivalent No Entitlement n/a HARLGMS 68330463 BZ0CZQ1 IE00BZ0CZQ19
GBP Sterling
11/24/2015 US$50,000,000 equivalent Net Income; Semi-Annual n/a HARLGMG 68330462 BZ0CZP0 IE00BZ0CZP02
US Dollar
1/4/2018 US$100 No Entitlement n/a HARLADB 68417967 B8NHL88 IE00B8NHL881
Euro
1/31/2018 US$50,000,000 equivalent No Entitlement n/a HARLGME 68459454 BFB4845 IE00BFB48459
US Dollar
6/5/2018 US$100 No Entitlement n/a HARLVUB 68121364 B1WL5P7/
G4R928131
IE00B1WL5P79
GBP Sterling
8/15/2018 US$100 equivalent Net Income; Semi-Annual UK Reporting Fund HARLGBG 68330463 BF19CT30 IE00BF19CT30
Ireland/UCITS
DOMICILE & TYPE
2.00% first 90 days
REDEMPTION FEE
Central Bank of Ireland
REGULATOR
US $793.7M
TOTAL FUND ASSETS*
None/Daily
LISTING/DEALING
74
TOTAL # OF HOLDINGS*

*As of September 30, 2018

  

INVESTMENT DOCUMENTS


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PORTFOLIO

as of September 30, 2018

 
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Company Sector Country %
PayPal Info Technology United States 3.5
Lonza Group Health Care Switzerland 3.3
Roper Industrials United States 3.0
AIA Group Financials Hong Kong 2.5
First Republic Bank Financials United States 2.5
Booking Holdings Cons Discretionary United States 2.4
Verisk Industrials United States 2.4
Symrise Materials Germany 2.4
Naspers Cons Discretionary South Africa 2.3
MasterCard Info Technology United States 1.9

10 Largest Holdings: 26.2%

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

as of September 30, 2018

 
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Sector Portfolio MSCI All Country World Index
Cons Discretionary 13.7 12.2
Cons Staples 5.1 7.9
Energy 3.4 6.7
Financials 12.6 17.1
Health Care 17.6 11.8
Industrials 15.5 10.7
Info Technology 22.0 20.0
Materials 8.0 5.0
Real Estate 0.0 2.9
Telecom Services 0.0 2.8
Utilities 0.0 2.9
Cash 2.1

as of September 30, 2018

 
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Region Portfolio MSCI All Country World Index
Canada 0.0 3.0
Emerging Markets 15.9 11.1
Europe EMU 13.4 9.9
Europe ex-EMU 14.9 9.5
Frontier Markets 0.0
Japan 9.7 7.6
Middle East 1.0 0.2
Pacific ex-Japan 2.5 3.6
United States 40.5 55.1
Cash 2.1

"Frontier Markets" includes countries with less-developed markets outside the Benchmark.


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FACTSHEET

  

PORTFOLIO MANAGERS

Peter Baughan, CFA          Co-Lead
Scott Crawshaw    
Christopher Mack, CFA    
Ferrill Roll, CFA   Co-Lead
Richard Schmidt, CFA    

 

 

  

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Fund returns are net of fees. Index returns are net of withholding taxes.

Performance data quoted represents past performance; past performance does not guarantee future results.
 
The information contained herein concerns a sub-fund (the “Fund”) of Harding Loevner Funds plc (the “Company”), an umbrella-type open-ended investment company authorized in Ireland as an undertaking for collective investment in transferable securities (a “UCITS”) pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, as amended.  Harding Loevner LP is the investment manager of the Company.  
 
The investments of the Fund in securities are subject to normal market fluctuations and other risks inherent in investing in securities. The value of investments and the income from them, and therefore the value of and income from Shares relating to each Fund can go down as well as up and an investor may not get back the amount he invests. Changes in exchange rates between currencies or the conversion from one currency to another may also cause the value of the investments to diminish or increase. An investment in a Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.  For further discussion of risk factors, refer to the Risk Factors section of the Company’s prospectus and the applicable Fund’s Supplement to the Prospectus.
 
There can be no assurance that the Fund’s investment objective will be achieved and investment results may vary substantially over time. This document is for information purposes only and does not constitute an offer or invitation to purchase shares in the Fund and has not been prepared in connection with any such offer or invitation. 
 
MSCI Inc. and S&P do not make any express or implied warranties or representations and shall have no liability whatsoever with respect to any GICS data contained herein.

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