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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 June 30, 2020

 
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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 		4.41 14.19 10.73 10.69 11.25 7.17 0.80
MSCI All Country World Index — US Dollar 3.19 2.11 6.13 6.45 9.16 4.22 N/A
Class A — Euro
Inception: 06/21/2007 		3.20 15.57 11.36 10.52 12.21 8.69 0.80
MSCI All Country World Index — Euro 2.20 3.53 6.68 6.29 10.11 5.64 N/A
Class A — GBP Sterling
Inception: 03/05/2008 		4.10 17.06 12.59 16.07 13.38 12.19 0.80
MSCI All Country World Index — GBP Sterling 3.25 5.18 7.92 11.72 11.27 9.29 N/A
Class B — US Dollar
Inception: 06/05/2018 		4.39 13.99 N/A N/A N/A 6.58 1.09
MSCI All Country World Index — US Dollar 3.19 2.11 N/A N/A N/A 2.82 N/A
Class B — GBP Sterling
Inception: 08/15/2018 		4.07 16.74 N/A N/A N/A 10.39 1.09
MSCI All Country World Index — GBP Sterling 3.25 5.18 N/A N/A N/A 5.11 N/A
Class M — Euro
Inception: 01/31/2018 		3.20 15.65 N/A N/A N/A 9.92 0.80
MSCI All Country World Index — Euro 2.20 3.53 N/A N/A N/A 5.15 N/A
Class M — Singapore Dollar
Inception: 09/21/2015 		3.02 17.71 11.26 N/A N/A 12.31 0.80
MSCI All Country World Index — Singapore Dollar 1.86 5.29 6.60 N/A N/A 8.12 N/A
Class D — US Dollar
Inception: 01/04/2018 		4.42 13.32 N/A N/A N/A 6.04 1.59
MSCI All Country World Index — US Dollar 3.19 2.11 N/A N/A N/A 2.14 N/A
Class S — US Dollar
Inception: 02/08/2019 		4.56 15.07 N/A N/A N/A 18.10 0.09
MSCI All Country World Index — US Dollar 3.19 2.11 N/A N/A N/A 7.47 N/A
Class S — Euro
Inception: 03/06/2019 		3.31 16.54 N/A N/A N/A 16.22 0.09
MSCI All Country World Index — Euro 2.20 3.53 N/A N/A N/A 6.16 N/A
Class S — GBP Sterling
Inception: 10/26/2018 		4.17 17.87 N/A N/A N/A 19.01 0.09
MSCI All Country World Index — GBP Sterling 3.25 5.18 N/A N/A N/A 10.64 N/A
Class S — Canadian Dollar
Inception: 08/23/2019 		3.11 N/A N/A N/A N/A 22.80 0.09
MSCI All Country World Index — Canadian Dollar 1.69 N/A N/A N/A N/A 9.09 N/A

as of June 30, 2020

 
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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 		25.66 14.19 10.73 10.69 11.25 7.17 0.80
MSCI All Country World Index — US Dollar 19.22 2.11 6.13 6.45 9.16 4.22 N/A
Class A — Euro
Inception: 06/21/2007 		23.38 15.57 11.36 10.52 12.21 8.69 0.80
MSCI All Country World Index — Euro 16.47 3.53 6.68 6.29 10.11 5.64 N/A
Class A — GBP Sterling
Inception: 03/05/2008 		26.02 17.06 12.59 16.07 13.38 12.19 0.80
MSCI All Country World Index — GBP Sterling 19.64 5.18 7.92 11.72 11.27 9.29 N/A
Class B — US Dollar
Inception: 06/05/2018 		25.66 13.99 N/A N/A N/A 6.58 1.09
MSCI All Country World Index — US Dollar 19.22 2.11 N/A N/A N/A 2.82 N/A
Class B — GBP Sterling
Inception: 08/15/2018 		26.00 16.74 N/A N/A N/A 10.39 1.09
MSCI All Country World Index — GBP Sterling 19.64 5.18 N/A N/A N/A 5.11 N/A
Class M — Euro
Inception: 01/31/2018 		23.38 15.65 N/A N/A N/A 9.92 0.80
MSCI All Country World Index — Euro 16.47 3.53 N/A N/A N/A 5.15 N/A
Class M — Singapore Dollar
Inception: 09/21/2015 		23.30 17.71 11.26 N/A N/A 12.31 0.80
MSCI All Country World Index — Singapore Dollar 16.81 5.29 6.60 N/A N/A 8.12 N/A
Class D — US Dollar
Inception: 01/04/2018 		25.49 13.32 N/A N/A N/A 6.04 1.59
MSCI All Country World Index — US Dollar 19.22 2.11 N/A N/A N/A 2.14 N/A
Class S — US Dollar
Inception: 02/08/2019 		26.00 15.07 N/A N/A N/A 18.10 0.09
MSCI All Country World Index — US Dollar 19.22 2.11 N/A N/A N/A 7.47 N/A
Class S — Euro
Inception: 03/06/2019 		23.63 16.54 N/A N/A N/A 16.22 0.09
MSCI All Country World Index — Euro 16.47 3.53 N/A N/A N/A 6.16 N/A
Class S — GBP Sterling
Inception: 10/26/2018 		26.27 17.87 N/A N/A N/A 19.01 0.09
MSCI All Country World Index — GBP Sterling 19.64 5.18 N/A N/A N/A 10.64 N/A
Class S — Canadian Dollar
Inception: 08/23/2019 		21.58 N/A N/A N/A N/A 22.80 0.09
MSCI All Country World Index — Canadian Dollar 14.08 N/A N/A N/A N/A 9.09 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 agreed to cap the Class A total expense ratio at 0.80%.
Harding Loevner has agreed to cap the Class M total expense ratio at 0.80%.
Harding Loevner has agreed to cap the Class B total expense ratio at 1.15%.
Harding Loevner has agreed to cap the Class S total expense ratio at 0.09%.

Current Pricing

as of July 09, 2020

 
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NAV Daily
Change		 Change (%) YTD
Return (%)
Class A — US Dollar 2.557 0.004 0.157 8.439
Class A — Euro 2.263 0.012 0.533 7.762
Class A — GBP Sterling 2.021 0.004 0.198 13.923
Class B — US Dollar 1.184 0.001 0.085 8.326
Class B — GBP Sterling 1.226 0.002 0.163 13.835
Class M — Euro 1.298 0.007 0.542 7.807
Class M — Singapore Dollar 1.805 0.003 0.166 12.251
Class D — US Dollar 1.200 0.001 0.083 8.011
Class S — US Dollar 1.308 0.002 0.153 8.909
Class S — Euro 1.260 0.007 0.559 8.248
Class S — GBP Sterling 1.351 0.002 0.148 14.393
Class S — Canadian Dollar 1.276 0.010 0.790 13.929
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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
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 BF19CT3 IE00BF19CT30
Euro
 1/31/2018 US$50,000,000 equivalent No Entitlement n/a HARLGME 68459454 BFB4845 IE00BFB48459
Singapore Dollar
 9/21/2015 US$50,000,000 equivalent No Entitlement n/a HARLGMS 68330463 BZ0CZQ1 IE00BZ0CZQ19
US Dollar
 1/4/2018 US$100 No Entitlement n/a HARLADB 68417967 B8NHL88 IE00B8NHL881
US Dollar
 2/8/2019 US$20,000,000 No Entitlement n/a HARLGSU 68537061 BDQZHH5 IE00BDQZHH56
Euro
 3/6/2019 US$20,000,000 equivalent No Entitlement n/a HARLGSE 68540865 BDQZCW5 IE00BDQZCW52
GBP Sterling
 10/26/2018 US$20,000,000 equivalent No Entitlement n/a HARLGSG 68521567 BDQZGJ0 IE00BDQZGJ06
Canadian Dollar
 8/23/2019 US$20,000,000 equivalent No Entitlement n/a HARLGSC 68571749 BDQZHK8 IE00BDQZHK85
Ireland/UCITS
DOMICILE & TYPE
Central Bank of Ireland
REGULATOR
US $798.0M
TOTAL FUND ASSETS*
None/Daily
LISTING/DEALING
68
TOTAL # OF HOLDINGS*

*As of March 31, 2020

INVESTMENT DOCUMENTS

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PORTFOLIO

as of March 31, 2020

 
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Company Sector Country %
PayPal Info Technology United States 4.2
Vertex Pharmaceuticals Health Care United States 3.8
Lonza Health Care Switzerland 3.1
Alphabet Comm Services United States 3.0
Roper Industrials United States 2.8
AIA Group Financials Hong Kong 2.8
Verisk Industrials United States 2.5
Illumina Health Care United States 2.5
Symrise Materials Germany 2.4
Facebook Comm Services United States 2.4

10 Largest Holdings: 29.5%

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

as of March 31, 2020

 
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Sector Portfolio MSCI All Country World Index
Comm Services 10.5 9.3
Cons Discretionary 8.9 10.8
Cons Staples 6.2 8.8
Energy 1.9 3.7
Financials 11.3 14.5
Health Care 19.0 13.3
Industrials 12.4 9.6
Info Technology 20.9 18.8
Materials 6.0 4.4
Real Estate 0.0 3.2
Utilities 0.0 3.6
Cash 2.9 —

as of March 31, 2020

 
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Region Portfolio MSCI All Country World Index
Canada 0.0 2.7
Emerging Markets 11.5 12.0
Europe EMU 7.2 8.8
Europe ex-EMU 10.7 9.0
Frontier Markets 0.0 —
Japan 7.4 7.5
Middle East 0.0 0.2
Pacific ex-Japan 2.8 3.2
United States 57.5 56.6
Cash 2.9 —

"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    
Jingyi Li    
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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