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Global Equity Research

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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. It is a new strategy, launched in December 2016.

Research Strategies

                                    

                                                                                                                                                                         

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PORTFOLIO MANAGERS

Moon Surana, CFA  
Andrew West, CFA  

 

 

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COMPOSITE PERFORMANCE (%)

as of September 30, 2017

 
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Quarter 1 YR 3 YR 5 YR 10 YR Since
Inception
Global Equity Research (Gross)
Inception: 12/31/2016 		5.16 N/A N/A N/A N/A 20.61
Global Equity Research (net)
Inception: 12/31/2016 		4.95 N/A N/A N/A N/A 19.89
MSCI All Country World Index 5.31 N/A N/A N/A N/A 17.75

Returns are annualized for periods greater than one year.

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PORTFOLIO

as of September 30, 2017

 
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Company Sector Country %
Estee Lauder Cons Staples United States 1.2
Apple Info Technology United States 1.1
Roper Industrials United States 1.1
McDonald's Cons Discretionary United States 1.1
Deere & Company Industrials United States 1.1
Amphenol Corporation Info Technology United States 1.0
Fiserv Info Technology United States 1.0
Costco Wholesale Cons Staples United States 1.0
TJX Companies Cons Discretionary United States 1.0
T. Rowe Price Financials United States 1.0
Gartner Info Technology United States 1.0
Starbucks Cons Discretionary United States 1.0
JPMorgan Chase Financials United States 1.0
Johnson & Johnson Health Care United States 0.9
Reinsurance Group of America Financials United States 0.9
Nike Cons Discretionary United States 0.9
Church & Dwight Cons Staples United States 0.9
Cisco Info Technology United States 0.9
Bank Central Asia Financials Indonesia 0.9
Colgate Palmolive Cons Staples United States 0.9
Accenture Info Technology United States 0.9
Check Point Info Technology Israel 0.9
Henry Schein Health Care United States 0.9
Procter & Gamble Cons Staples United States 0.9
Ecolab Materials United States 0.9

25 Largest Holdings: 24.4%

as of September 30, 2017

 
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Sector Portfolio MSCI All Country World Index
Cons Discretionary 12.5 11.9
Cons Staples 12.4 8.8
Energy 2.9 6.4
Financials 17.2 18.7
Health Care 11.5 11.2
Industrials 14.8 10.8
Info Technology 19.4 17.5
Materials 4.3 5.3
Real Estate 1.8 3.1
Telecom Services 0.7 3.2
Utilities 0.3 3.1
Cash 2.2 —

as of September 30, 2017

 
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Region Portfolio MSCI All Country World Index
Canada 1.4 3.2
Emerging Markets 20.3 11.5
Europe EMU 7.0 11.0
Europe ex-EMU 8.6 10.5
Frontier Markets 1.3 —
Japan 10.8 7.7
Middle East 0.9 0.2
Pacific ex-Japan 3.7 3.9
United States 43.8 52.0
Cash 2.2 —

"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

UNIT TRUSTS
for Australian investors

Composite performance shown is preliminary. The Global Equity Research Composite contains fully discretionary, fee paying global equity accounts investing in US and non-US equity and equity-equivalent securities with the objective of long-term capital appreciation. 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 June 30, 2017. 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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