Emerging Markets ex China Equity

Offered since 2022, the Emerging Markets ex China Equity strategy invests in high-quality, growing companies with a substantial share of their revenues or assets in emerging markets countries outside of China. The strategy’s benchmark is the MSCI Emerging Markets ex China Index.

Strategy Overview

We invest in the shares of high-quality, growing businesses at reasonable prices, identified through our disciplined fundamental research process. Our approach is consistent with our Emerging Markets, International, and Global equity strategies, each of which have been investing in Emerging Markets for over 20 years.

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Mutual Funds

For US institutions and individuals

UCITS Funds

For non-US investors

Collective Investment Trusts

For retirement plans

Portfolio Managers

Pradipta Chakrabortty

Emerging Markets Co-Lead

Scott Crawshaw

Emerging Markets Co-Lead

Richard Schmidt, CFA

Emerging Markets ex China Equity PM

Composite Performance (%)

Returns are annualized for periods greater than one year.

The Composite performance shown is preliminary. For comparison purposes the Composite return is measured against the MSCI Emerging Markets ex China Total Return Index (Gross). Harding Loevner LP is an investment adviser registered with the Securities and Exchange Commission. Harding Loevner claims compliance with the Global Investment Performance Standards (GIPS®). Harding Loevner has been independently verified for the period November 1, 1989 through September 30, 2023. A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm’s policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis. The verification and performance examination reports are available upon request. Performance data quoted represents past performance; past performance does not guarantee future results. Returns are presented both gross and net of management fees and include the reinvestment of all income. Net returns are calculated using actual fees. The US dollar is the currency used to express performance. For complete information on the construction and historical record of the Emerging Markets ex China Equity Composite, please contact Harding Loevner at (908) 218-7900 or invest@hlmnet.com. The firm maintains a complete list of composite descriptions, a list of limited distribution pooled fund descriptions, and a list of broad distribution pooled funds, which are available upon request.

GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

The largest holdings and sector and geographic weights are shown as supplemental information only and complement the fully compliant Emerging Markets ex China Composite GIPS presentation. The portfolio is actively managed therefore holdings shown may not be current. They should not be considered recommendations to buy or sell any security. It should not be assumed that investment in the securities identified has been or will be profitable. A complete list of holdings for this quarter is available for Emerging Markets ex China Equity here. To request a complete list of holdings for the past year, please contact Harding Loevner.

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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