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.
PERFORMANCE (%)
as of January 31, 2019
1 Month | 1 YR | 3 YR | 5 YR | 10 YR | Since Inception |
Total Expense Ratio |
|
---|---|---|---|---|---|---|---|
Class A — US Dollar Inception: 06/21/2007 |
8.15 | -8.89 | 13.25 | 8.85 | 12.66 | 6.04 | 0.84 |
MSCI All Country World Index — US Dollar | 7.90 | -7.48 | 11.63 | 6.72 | 11.28 | 3.89 | N/A |
Class A — Euro Inception: 06/21/2007 |
8.22 | -1.20 | 11.19 | 12.48 | 14.13 | 7.56 | 0.84 |
MSCI All Country World Index — Euro | 7.49 | 0.44 | 9.46 | 10.23 | 12.52 | 5.28 | N/A |
Class A — GBP Sterling Inception: 03/05/2008 |
5.02 | -1.40 | 16.43 | 13.86 | 13.77 | 11.01 | 0.84 |
MSCI All Country World Index — GBP Sterling | 4.46 | 0.01 | 14.47 | 11.58 | 12.31 | 8.96 | N/A |
Class B — US Dollar Inception: 06/05/2018 |
8.12 | N/A | N/A | N/A | N/A | -8.10 | 1.09 |
MSCI All Country World Index — US Dollar | 7.90 | N/A | N/A | N/A | N/A | -3.70 | N/A |
Class B — GBP Sterling Inception: 08/15/2018 |
5.17 | N/A | N/A | N/A | N/A | -8.40 | 1.09 |
MSCI All Country World Index — GBP Sterling | 4.46 | N/A | N/A | N/A | N/A | -6.25 | N/A |
Class M — Euro Inception: 01/31/2018 |
8.32 | -1.10 | N/A | N/A | N/A | -1.10 | 0.79 |
MSCI All Country World Index — Euro | 7.49 | 0.44 | N/A | N/A | N/A | 0.44 | N/A |
Class M — GBP Sterling Inception: 11/24/2015 |
5.11 | -1.38 | 16.49 | N/A | N/A | 13.95 | 0.79 |
MSCI All Country World Index — GBP Sterling | 4.46 | 0.01 | 14.47 | N/A | N/A | 12.74 | N/A |
Class M — Singapore Dollar Inception: 09/21/2015 |
6.81 | -6.45 | 11.20 | N/A | N/A | 9.31 | 0.79 |
MSCI All Country World Index — Singapore Dollar | 6.44 | -4.98 | 9.53 | N/A | N/A | 7.42 | N/A |
Class D — US Dollar Inception: 01/04/2018 |
8.06 | -9.54 | N/A | N/A | N/A | -5.69 | 1.59 |
MSCI All Country World Index — US Dollar | 7.90 | -7.48 | N/A | N/A | N/A | -3.90 | N/A |
as of December 31, 2018
Quarter | 1 YR | 3 YR | 5 YR | 10 YR | Since Inception |
Total Expense Ratio |
|
---|---|---|---|---|---|---|---|
Class A — US Dollar Inception: 06/21/2007 |
-15.68 | -10.26 | 7.90 | 6.22 | 11.07 | 5.37 | 0.84 |
MSCI All Country World Index — US Dollar | -12.75 | -9.42 | 6.60 | 4.26 | 9.46 | 3.23 | N/A |
Class A — Euro Inception: 06/21/2007 |
-14.53 | -5.96 | 6.04 | 10.22 | 13.48 | 6.88 | 0.84 |
MSCI All Country World Index — Euro | -11.35 | -4.85 | 4.80 | 8.23 | 11.62 | 4.67 | N/A |
Class A — GBP Sterling Inception: 03/05/2008 |
-13.72 | -4.87 | 13.30 | 11.93 | 12.70 | 10.60 | 0.84 |
MSCI All Country World Index — GBP Sterling | -10.67 | -3.79 | 11.92 | 9.88 | 10.79 | 8.60 | N/A |
Class B — US Dollar Inception: 06/05/2018 |
-15.67 | N/A | N/A | N/A | N/A | -15.00 | 1.09 |
MSCI All Country World Index — US Dollar | -12.75 | N/A | N/A | N/A | N/A | -10.75 | N/A |
Class B — GBP Sterling Inception: 08/15/2018 |
-13.85 | N/A | N/A | N/A | N/A | -12.90 | 1.09 |
MSCI All Country World Index — GBP Sterling | -10.67 | N/A | N/A | N/A | N/A | -10.26 | N/A |
Class M — Euro Inception: 01/31/2018 |
-14.59 | N/A | N/A | N/A | N/A | -8.70 | 0.79 |
MSCI All Country World Index — Euro | -11.35 | N/A | N/A | N/A | N/A | -6.56 | N/A |
Class M — GBP Sterling Inception: 11/24/2015 |
-13.79 | -4.87 | 13.32 | N/A | N/A | 12.53 | 0.79 |
MSCI All Country World Index — GBP Sterling | -10.67 | -3.79 | 11.92 | N/A | N/A | 11.53 | N/A |
Class M — Singapore Dollar Inception: 09/21/2015 |
-15.91 | -8.41 | 6.59 | N/A | N/A | 7.39 | 0.79 |
MSCI All Country World Index — Singapore Dollar | -12.96 | -7.61 | 5.19 | N/A | N/A | 5.59 | N/A |
Class D — US Dollar Inception: 01/04/2018 |
-15.79 | N/A | N/A | N/A | N/A | -13.10 | 1.59 |
MSCI All Country World Index — US Dollar | -12.75 | N/A | N/A | N/A | N/A | -11.20 | 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 0.90%.
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%.
Current Pricing
as of February 14, 2019
NAV | Daily Change |
Change (%) | YTD Return (%) |
|
---|---|---|---|---|
Class A — US Dollar | 2.012 | -0.002 | -0.099 | 10.066 |
Class A — Euro | 1.780 | -0.006 | -0.336 | 11.669 |
Class A — GBP Sterling | 1.572 | 0.005 | 0.319 | 9.623 |
Class B — US Dollar | 0.935 | -0.001 | -0.107 | 10.000 |
Class B — GBP Sterling | 0.955 | 0.003 | 0.315 | 9.644 |
Class M — Euro | 1.020 | -0.003 | -0.293 | 11.720 |
Class M — GBP Sterling | 1.566 | 0.005 | 0.320 | 9.664 |
Class M — Singapore Dollar | 1.384 | -0.004 | -0.288 | 9.580 |
Class D — US Dollar | 0.955 | -0.001 | -0.105 | 9.896 |
Class S — GBP Sterling | 1.049 | 0.003 | 0.287 | 9.728 |
Fund Facts
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 |
*As of December 31, 2018
INVESTMENT DOCUMENTS
PORTFOLIO
as of December 31, 2018
Company | Sector | Country | % |
---|---|---|---|
PayPal | Info Technology | United States | 4.0 |
Roper | Industrials | United States | 3.2 |
AIA Group | Financials | Hong Kong | 2.8 |
EssilorLuxottica | Cons Discretionary | France | 2.6 |
First Republic Bank | Financials | United States | 2.6 |
Verisk | Industrials | United States | 2.6 |
Naspers | Comm Services | South Africa | 2.5 |
Booking Holdings | Cons Discretionary | United States | 2.5 |
Symrise | Materials | Germany | 2.3 |
NVIDIA | Info Technology | United States | 2.1 |
10 Largest Holdings: 27.2%
A complete list of holdings for this quarter is available here.
as of December 31, 2018
Sector | Portfolio | MSCI All Country World Index |
---|---|---|
Comm Services | 6.7 | 9.0 |
Cons Discretionary | 12.2 | 10.4 |
Cons Staples | 6.0 | 8.4 |
Energy | 2.6 | 6.2 |
Financials | 14.5 | 17.2 |
Health Care | 14.0 | 12.1 |
Industrials | 15.4 | 10.3 |
Info Technology | 17.9 | 14.8 |
Materials | 8.3 | 5.0 |
Real Estate | 0.0 | 3.2 |
Utilities | 0.0 | 3.4 |
Cash | 2.4 | — |
as of December 31, 2018
Region | Portfolio | MSCI All Country World Index |
---|---|---|
Canada | 0.0 | 2.9 |
Emerging Markets | 16.3 | 11.9 |
Europe EMU | 12.3 | 9.7 |
Europe ex-EMU | 11.6 | 9.5 |
Frontier Markets | 0.0 | — |
Japan | 9.5 | 7.6 |
Middle East | 1.0 | 0.2 |
Pacific ex-Japan | 2.7 | 3.8 |
United States | 44.2 | 54.4 |
Cash | 2.4 | — |
"Frontier Markets" includes countries with less-developed markets outside the Benchmark.
FACTSHEET
PORTFOLIO MANAGERS
Peter Baughan, CFA | Co-Lead | |
Scott Crawshaw | ||
Christopher Mack, CFA | ||
Ferrill Roll, CFA | Co-Lead | |
Richard Schmidt, CFA |

Read more about this strategy
Learn how to invest directly
Please click here for Index Definitions.
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.