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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$26.43

$14.5 B

1.65%

$0.43

1.15%

Vitals

YTD Return

1.7%

1 yr return

11.4%

3 Yr Avg Return

-0.9%

5 Yr Avg Return

5.9%

Net Assets

$14.5 B

Holdings in Top 10

30.1%

52 WEEK LOW AND HIGH

$26.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.15%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 14.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$26.43

$14.5 B

1.65%

$0.43

1.15%

HLMNX - Profile

Distributions

  • YTD Total Return 1.7%
  • 3 Yr Annualized Total Return -0.9%
  • 5 Yr Annualized Total Return 5.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.83%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Harding Loevner International Equity Portfolio
  • Fund Family Name
    Harding Loevner
  • Inception Date
    Jul 17, 2017
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ferrill Roll

Fund Description

The Portfolio invests primarily in companies based in developed markets outside the United States as well as in companies in emerging and frontier markets. Harding Loevner LP (“Harding Loevner”), the Portfolio’s investment adviser, undertakes fundamental research in an effort to identify companies that are well managed, financially sound, fast growing, and strongly competitive, and whose shares are reasonably priced relative to estimates of their value. To reduce its volatility, the Portfolio is diversified across dimensions of geography, industry, currency, and market capitalization. The Portfolio normally holds investments across at least 15 countries. Factors bearing on whether a company is considered to be “based” outside the United States may include: (1) it is legally domiciled outside the United States; (2) it conducts at least 50% of its business, as measured by the location of its sales, earnings, assets, or production, outside the United States; or (3) it has the principal exchange listing for its securities outside the United States. The Portfolio will normally invest broadly in equity securities of companies domiciled in the following countries and regions: (1) Europe; (2) the Pacific Rim; (3) Canada and Mexico; and (4) countries with emerging or frontier markets. At least 65% of the Portfolio’s total assets will be denominated in at least three currencies other than the U.S. dollar. For purposes of compliance with this restriction, American Depositary Receipts, Global Depositary Receipts, and European Depositary Receipts (collectively, “Depositary Receipts”), will be considered to be denominated in the currency of the country where the securities underlying the Depositary Receipts are principally traded. The Portfolio invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in common stocks, preferred stocks, rights, and warrants issued by companies that are based outside the United States, securities convertible into such securities (including Depositary Receipts), and investment companies that invest in the types of securities in which the Portfolio would normally invest. The Portfolio also may invest in securities of U.S. companies that derive, or are expected to derive, a significant portion of their revenues from their foreign operations, although under normal circumstances not more than 15% of the Portfolio’s total assets will be invested in securities of U.S. companies. Because some emerging market may present difficulties for efficient foreign investment, the Portfolio may use equity derivative securities to gain exposure to those countries.
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HLMNX - Performance

Return Ranking - Trailing

Period HLMNX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.7% -1.9% 21.7% 93.97%
1 Yr 11.4% -0.7% 37.5% 80.15%
3 Yr -0.9%* -20.0% 12.3% 55.73%
5 Yr 5.9%* -2.1% 13.3% 73.19%
10 Yr 5.3%* -0.6% 9.9% 47.11%

* Annualized

Return Ranking - Calendar

Period HLMNX Return Category Return Low Category Return High Rank in Category (%)
2023 10.8% -0.4% 28.6% 80.70%
2022 -22.0% -49.5% -13.3% 19.10%
2021 5.8% -22.2% 19.3% 27.53%
2020 19.5% -4.9% 85.0% 52.32%
2019 23.3% -4.0% 45.1% 75.98%

Total Return Ranking - Trailing

Period HLMNX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.7% -1.9% 21.7% 93.97%
1 Yr 11.4% -0.7% 37.5% 80.15%
3 Yr -0.9%* -20.0% 12.3% 55.73%
5 Yr 5.9%* -2.1% 13.3% 73.19%
10 Yr 5.3%* -0.6% 9.9% 47.11%

* Annualized

Total Return Ranking - Calendar

Period HLMNX Return Category Return Low Category Return High Rank in Category (%)
2023 14.7% 1.8% 28.6% 66.17%
2022 -22.0% -44.4% -11.0% 27.14%
2021 8.2% -20.6% 20.5% 55.58%
2020 20.0% -4.9% 97.1% 64.31%
2019 24.8% 0.5% 45.3% 90.39%

NAV & Total Return History


HLMNX - Holdings

Concentration Analysis

HLMNX Category Low Category High HLMNX % Rank
Net Assets 14.5 B 169 K 127 B 12.41%
Number of Holdings 63 4 1730 60.05%
Net Assets in Top 10 3.93 B 67.7 K 34.8 B 12.66%
Weighting of Top 10 30.15% 11.2% 99.3% 56.08%

Top 10 Holdings

  1. Northern Inst Fds TREAS PRT PRMR 3.78%
  2. Samsung Electronics Co Ltd. GDR EACH REP 25 COM STK KRW100(REG S) 3.73%
  3. Chugai Pharmaceutical Co Ltd. NPV 3.23%
  4. DBS Group Holdings Ltd. NPV 3.08%
  5. Schneider Electric SE EUR4.00 3.00%
  6. Fomento Economico Mexicano S A B de C V SPON ADR RP 10 UTS(1B2D-B 2.78%
  7. Allianz SE NPV(REGD)(VINKULIERT) 2.74%
  8. Infineon Technologies AG ORD NPV (REGD) 2.67%
  9. L'Oreal S.A. EUR0.20 2.63%
  10. Skandinaviska Enskilda Banken AB (publ) SER'A'NPV 2.51%

Asset Allocation

Weighting Return Low Return High HLMNX % Rank
Stocks
94.25% 85.39% 101.65% 87.84%
Cash
3.85% 0.00% 13.24% 31.02%
Preferred Stocks
1.90% 0.00% 4.57% 5.46%
Other
0.00% -1.92% 4.14% 92.06%
Convertible Bonds
0.00% 0.00% 2.45% 92.54%
Bonds
0.00% 0.00% 0.11% 92.31%

Stock Sector Breakdown

Weighting Return Low Return High HLMNX % Rank
Financial Services
17.17% 0.00% 38.62% 27.61%
Technology
16.80% 1.51% 38.21% 56.72%
Industrials
16.64% 0.68% 31.28% 38.06%
Healthcare
14.73% 1.36% 29.58% 49.25%
Consumer Defense
12.16% 0.00% 25.77% 23.38%
Basic Materials
10.77% 0.00% 23.15% 13.43%
Communication Services
4.43% 0.00% 41.13% 46.77%
Consumer Cyclical
3.97% 0.00% 46.28% 96.52%
Energy
1.90% 0.00% 24.97% 46.52%
Utilities
1.44% 0.00% 9.05% 22.14%
Real Estate
0.00% 0.00% 6.64% 95.52%

Stock Geographic Breakdown

Weighting Return Low Return High HLMNX % Rank
Non US
68.78% 0.00% 101.44% 85.36%
US
25.47% 0.00% 99.95% 21.34%

HLMNX - Expenses

Operational Fees

HLMNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.15% 0.01% 13.07% 43.64%
Management Fee 0.67% 0.00% 1.50% 41.94%
12b-1 Fee 0.25% 0.00% 1.00% 52.66%
Administrative Fee N/A 0.03% 0.80% N/A

Sales Fees

HLMNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

HLMNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% 58.33%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

HLMNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 7.00% 149.00% 20.00%

HLMNX - Distributions

Dividend Yield Analysis

HLMNX Category Low Category High HLMNX % Rank
Dividend Yield 1.65% 0.00% 12.50% 6.47%

Dividend Distribution Analysis

HLMNX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual Annual

Net Income Ratio Analysis

HLMNX Category Low Category High HLMNX % Rank
Net Income Ratio 0.83% -1.69% 3.16% 19.05%

Capital Gain Distribution Analysis

HLMNX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

Distributions History

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HLMNX - Fund Manager Analysis

Managers

Ferrill Roll


Start Date

Tenure

Tenure Rank

Oct 31, 2004

17.59

17.6%

Ferrill Roll, CFA, has been a portfolio manager with Harding Loevner since 2001 and an analyst since 1996. He is a Co-Lead Portfolio Manager for the International Equity Fund. and a Financials analyst. He joined the firm in 1996 and is a Partner. Ferrill has extensive experience, including serving as general partner of Cesar Montemayor Capital, LP, a global investment partnership investing in fixed income, currency, and equity markets. Ferrill began his career at JP Morgan. He graduated from Stanford University (1980) with a degree in Economics and is a CFA Charterholder.

Bryan Lloyd


Start Date

Tenure

Tenure Rank

Jun 30, 2014

7.92

7.9%

Bryan Lloyd is a portfolio manager of the International Equity strategy and a Financials analyst. He is a Partner of the firm and has over 21 years of industry experience. He joined Harding Loevner in 2011 after seven years at Calamos Asset Management. While at Calamos, Bryan served as vice president/senior analyst of financial services and prior to that held the position of research analyst. From 1999–2003, he worked at Credit Suisse First Boston as an associate in equity research. Earlier in his career, he served as a credit analyst at ABN AMRO Bank and as a financial analyst at M&T Bank. He is a graduate of Lafayette College with a BA in Mathematics and Economics and is a CFA® charterholder.

Andrew West


Start Date

Tenure

Tenure Rank

Jun 30, 2014

7.92

7.9%

Andrew West is the manager of research, a portfolio manager of the International Equity, International Equity Research, Global Equity Research, and Emerging Markets Research strategies, and a Consumer Discretionary and Industrials analyst. As manager of research, Andrew is responsible for monitoring and supporting the quality and consistency of analyst output. He is a Partner of the firm and has over 25 years of industry experience. Prior to joining Harding Loevner in 2006, Andrew worked at Standard & Poor’s Equity Research, Veitia & Associates, and International Assets Advisory Corp. Andrew holds a BS in Business Administration/Finance from the University of Central Florida and an MBA in Finance and International Business from the New York University Leonard N. Stern School of Business. He is also a CFA® charterholder.

Patrick Todd


Start Date

Tenure

Tenure Rank

Jan 03, 2017

5.41

5.4%

Patrick Todd is a portfolio manager of the International Equity strategy and a Health Care and Real Estate analyst. Patrick joined Harding Loevner in 2012 and has over 11 years of industry experience. He previously worked at Gabelli & Company as a research analyst, Ironbound Capital as a research analyst, and Merrill Lynch Investment Managers as a portfolio specialist. Patrick holds a BA in Biochemical Sciences from Harvard University and an MBA in Applied Value Investing from Columbia Business School. He is also a CFA® charterholder.

Babatunde Ojo


Start Date

Tenure

Tenure Rank

Jan 31, 2021

1.33

1.3%

Babatunde Ojo, CFA has been a portfolio manager since 2014 and an analyst since 2012. As an analyst, he focuses on frontier emerging markets companies. Mr. Ojo graduated from University of Lagos in 2002. He received an MBA in Finance and Management from University of Pennsylvania, the Wharton School, in 2012 and joined Harding Loevner that same year. Mr. Ojo serves as a co-lead portfolio manager for the Frontier Emerging Markets Portfolio.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 26.94 7.65 20.01