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Global Equity Research

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Offered since 2016, the Global Equity Research strategy invests broadly in high-quality, growing companies across the size range anywhere in the world, that are recommended by our analysts. Its benchmark is the MSCI All Country World Index.

Watch our strategy overview

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PORTFOLIO MANAGERS

Moon Surana, CFA  
Andrew West, CFA  

 

 

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COMPOSITE PERFORMANCE (%)

as of March 31, 2020

 
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Quarter 1 YR 3 YR 5 YR 10 YR Since
Inception
Global Equity Research (Gross)
Inception: 12/31/2016 		-20.90 -11.08 4.62 N/A N/A 6.81
Global Equity Research (net)
Inception: 12/31/2016 		-21.04 -11.70 3.82 N/A N/A 6.00
MSCI All Country World Index -21.26 -10.76 2.05 N/A N/A 4.05

Returns are annualized for periods greater than one year.

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PORTFOLIO

as of March 31, 2020

 
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Company Sector Country %
Merck Health Care United States 1.2
Air Products Materials United States 1.1
Roper Industrials United States 1.1
Microsoft Info Technology United States 1.1
Colgate Palmolive Cons Staples United States 1.1
Ecolab Materials United States 1.1
UnitedHealth Group Health Care United States 1.1
eBay Cons Discretionary United States 1.0
Procter & Gamble Cons Staples United States 1.0
Church & Dwight Cons Staples United States 1.0
JPMorgan Chase Financials United States 1.0
ADP Info Technology United States 1.0
Walgreens Boots Alliance Cons Staples United States 1.0
ExxonMobil Energy United States 1.0
First Republic Bank Financials United States 0.9
Allegion Industrials United States 0.9
Alphabet Comm Services United States 0.9
Domino's Pizza, Inc. Cons Discretionary United States 0.9
McDonald's Cons Discretionary United States 0.9
Shimano Cons Discretionary Japan 0.8
NITORI Cons Discretionary Japan 0.8
Kubota Industrials Japan 0.8
Nestlé Cons Staples Switzerland 0.8
Roche Health Care Switzerland 0.8
Canadian National Railway Industrials Canada 0.8

25 Largest Holdings: 24.1%

as of March 31, 2020

 
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Sector Portfolio MSCI All Country World Index
Comm Services 5.2 9.3
Cons Discretionary 12.1 10.8
Cons Staples 15.1 8.8
Energy 2.8 3.7
Financials 12.0 14.5
Health Care 14.6 13.3
Industrials 14.3 9.6
Info Technology 15.7 18.8
Materials 6.2 4.4
Real Estate 0.2 3.2
Utilities 0.3 3.6
Cash 1.5 —

as of March 31, 2020

 
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Region Portfolio MSCI All Country World Index
Canada 1.6 2.7
Emerging Markets 21.6 12.0
Europe EMU 8.9 8.8
Europe ex-EMU 12.9 9.0
Frontier Markets 0.2 —
Japan 12.3 7.5
Middle East 0.0 0.2
Pacific ex-Japan 2.5 3.2
United States 38.5 56.6
Cash 1.5 —

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

  

Many ways to invest: products for institutions and individuals

MUTUAL FUNDS
for US institutions and individuals

SEPARATELY MANAGED ACCOUNTS
for large institutions

COLLECTIVE INVESTMENT TRUSTS
for US retirement plans

UCITS FUNDS
for non-US investors

Composite performance shown is preliminary. The Global Equity Research Composite contains fully discretionary, fee-paying  accounts investing in US and non-US equity and equity-equivalent securities and cash reserves, and is measured against the MSCI All Country World Total Return Index (Gross) for comparison purposes. Harding Loevner LP is an investment adviser registered with the Securities and Exchange Commission. Harding Loevner is affiliated with Affiliated Managers Group, Inc. (NYSE: AMG), an investment holding company with stakes in a diverse group of boutique investment firms. Harding Loevner claims compliance with the Global Investment Performance Standards (GIPS®). Harding Loevner has been independently verified for the period November 1, 1989 through December 31, 2019. Verification assesses whether (1) the firm has complied with all composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm’s policy and procedures are designed to calculate and present performance in compliance with GIPS standards. The Global Equity Research Composite has not received a performance examination. Performance data quoted represents past performance; past performance does not guarantee future results. The US dollar is the currency used to express performance. Complete information on the construction and historical record of the Global Equity Research Composite is available here. The firm maintains a complete list and description of composites, which is available upon request.

Largest holdings and sector and geographic weights are shown as supplemental information only and complement the fully compliant Global Equity Research 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. To request a complete list of holdings since inception, 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.

Please click here for Index definitions.

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