Harding Loevner Frontier Emerging Markets Portfolio
Fund
HLFZX
Price as of:
$7.06
- $0.03
- 0.42%
Primary Theme
N/A
fund company
N/A
Name
As of 10/13/2023Price
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
Vitals
YTD Return
N/A
1 yr return
11.8%
3 Yr Avg Return
-0.8%
5 Yr Avg Return
0.2%
Net Assets
$132 M
Holdings in Top 10
39.6%
52 WEEK LOW AND HIGH
$7.1
$6.98
$7.59
Expenses
OPERATING FEES
Expense Ratio 1.65%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/13/2023Price
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
HLFZX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return -0.8%
- 5 Yr Annualized Total Return 0.2%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 2.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameHarding Loevner Frontier Emerging Markets Portfolio
-
Fund Family NameN/A
-
Inception DateMar 01, 2017
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
Fund Description
The Portfolio invests primarily in companies that are based in frontier emerging markets, including the smaller traditionally-recognized emerging markets. Frontier emerging markets, with the exception of the oil-producing Gulf States and certain of the smaller traditionally-recognized emerging markets, tend to have relatively low gross national product per capita compared to the larger traditionally-recognized emerging markets and the world’s major developed economies. The frontier emerging markets include the least developed markets even by emerging markets standards. Frontier emerging markets offer investment opportunities that arise from long-term trends in demographics, deregulation, offshore outsourcing, and improving corporate governance in developing countries. 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, and currency. The Portfolio normally holds investments across at least 15 countries.
As used herein, frontier emerging markets include countries that are represented in the MSCI Frontier Markets Index or the S&P Frontier Markets BMI, or similar market indices, and the smaller of the traditionally-recognized emerging markets, such as those individually constituting less than 5% of the MSCI Emerging Markets Index or the S&P Emerging Markets BMI. Factors bearing on whether a company is considered to be “based” in a frontier emerging market may include: (1) it is legally domiciled in a frontier emerging market; (2) it conducts at least 50% of its business, as measured by the location of its sales, earnings, assets, or production, in frontier emerging markets; or (3) it has the principal exchange listing for its securities in a frontier emerging market. Frontier emerging markets generally include all countries except Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States and the larger traditionally-recognized emerging markets of Taiwan, South Korea, South Africa, Brazil, India and China. 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 at least 65% of its total assets in common stocks, preferred stocks, rights, and warrants issued by companies that are based in the frontier emerging markets, 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.
The Portfolio invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in frontier emerging market securities, and investment companies that invest in the types of securities in which the Portfolio would normally invest.
The Portfolio may invest up to 35% of its total assets in securities of companies in any one industry if, at the time of investment, that industry represents 20% or more of the Portfolio’s benchmark index, currently the MSCI Frontier Emerging Markets Index.
Because some frontier emerging market countries may present difficulties for efficient foreign investment, the Portfolio may use equity derivative securities to gain exposure to those countries.
HLFZX - Performance
Return Ranking - Trailing
Period | HLFZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | N/A | N/A | N/A |
1 Yr | 11.8% | N/A | N/A | N/A |
3 Yr | -0.8%* | N/A | N/A | N/A |
5 Yr | 0.2%* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Return Ranking - Calendar
Period | HLFZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | -20.6% | N/A | N/A | N/A |
2021 | 9.6% | N/A | N/A | N/A |
2020 | -1.4% | N/A | N/A | N/A |
2019 | 9.0% | N/A | N/A | N/A |
Total Return Ranking - Trailing
Period | HLFZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | N/A | N/A | N/A |
1 Yr | 11.8% | N/A | N/A | N/A |
3 Yr | -0.8%* | N/A | N/A | N/A |
5 Yr | 0.2%* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Total Return Ranking - Calendar
Period | HLFZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | -20.6% | N/A | N/A | N/A |
2021 | 10.6% | N/A | N/A | N/A |
2020 | 0.3% | N/A | N/A | N/A |
2019 | 11.3% | N/A | N/A | N/A |
NAV & Total Return History
HLFZX - Holdings
Concentration Analysis
HLFZX | Category Low | Category High | HLFZX % Rank | |
---|---|---|---|---|
Net Assets | 132 M | N/A | N/A | N/A |
Number of Holdings | 59 | N/A | N/A | N/A |
Net Assets in Top 10 | 50.4 M | N/A | N/A | N/A |
Weighting of Top 10 | 39.59% | N/A | N/A | N/A |
Top 10 Holdings
- Banca Transilvania SA RON10 4.66%
- Globant S.A USD1.20 4.60%
- Credicorp Ltd. COM USD5 4.53%
- Kaspi.Kz JSC SPONSORED ADR 4.25%
- Joint Stock Commercial Bank For Foreign Trade Of Vietnam VND10000 4.10%
- SM Prime Holdings Inc. ORD PHP1 3.86%
- Cementos Argos Sa ADR EACH REPR 5 ORD SHS 3.54%
- Northern Inst Fds TREAS PRT PRMR 3.51%
- Halyk Savings Bank Of Kazakhstan JSC Almaty GDR EACH REPR 40 ORD SHS'REGS' (SPON) 3.50%
- International Container Terminal Services Inc. PHP1 3.05%
Asset Allocation
Weighting | Return Low | Return High | HLFZX % Rank | |
---|---|---|---|---|
Stocks | 95.50% | N/A | N/A | N/A |
Cash | 3.76% | N/A | N/A | N/A |
Bonds | 0.74% | N/A | N/A | N/A |
Preferred Stocks | 0.00% | N/A | N/A | N/A |
Other | 0.00% | N/A | N/A | N/A |
Convertible Bonds | 0.00% | N/A | N/A | N/A |
Stock Sector Breakdown
Weighting | Return Low | Return High | HLFZX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | N/A | N/A | N/A |
Technology | 0.00% | N/A | N/A | N/A |
Real Estate | 0.00% | N/A | N/A | N/A |
Industrials | 0.00% | N/A | N/A | N/A |
Healthcare | 0.00% | N/A | N/A | N/A |
Financial Services | 0.00% | N/A | N/A | N/A |
Energy | 0.00% | N/A | N/A | N/A |
Communication Services | 0.00% | N/A | N/A | N/A |
Consumer Defense | 0.00% | N/A | N/A | N/A |
Consumer Cyclical | 0.00% | N/A | N/A | N/A |
Basic Materials | 0.00% | N/A | N/A | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | HLFZX % Rank | |
---|---|---|---|---|
Non US | 68.06% | N/A | N/A | N/A |
US | 27.44% | N/A | N/A | N/A |
Bond Sector Breakdown
Weighting | Return Low | Return High | HLFZX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 3.51% | N/A | N/A | N/A |
Derivative | 0.00% | N/A | N/A | N/A |
Securitized | 0.00% | N/A | N/A | N/A |
Corporate | 0.00% | N/A | N/A | N/A |
Municipal | 0.00% | N/A | N/A | N/A |
Government | 0.00% | N/A | N/A | N/A |
Bond Geographic Breakdown
Weighting | Return Low | Return High | HLFZX % Rank | |
---|---|---|---|---|
US | 0.74% | N/A | N/A | N/A |
Non US | 0.00% | N/A | N/A | N/A |
HLFZX - Expenses
Operational Fees
HLFZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.65% | N/A | N/A | N/A |
Management Fee | 1.35% | N/A | N/A | N/A |
12b-1 Fee | N/A | N/A | N/A | N/A |
Administrative Fee | N/A | N/A | N/A | N/A |
Sales Fees
HLFZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | N/A | N/A | N/A |
Trading Fees
HLFZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
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.
HLFZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
HLFZX - Distributions
Dividend Yield Analysis
HLFZX | Category Low | Category High | HLFZX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.97% | N/A | N/A | N/A |
Dividend Distribution Analysis
HLFZX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual |
Net Income Ratio Analysis
HLFZX | Category Low | Category High | HLFZX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
Capital Gain Distribution Analysis
HLFZX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 19, 2023 | $0.139 | OrdinaryDividend |
Dec 14, 2021 | $0.079 | OrdinaryDividend |
Dec 15, 2020 | $0.136 | OrdinaryDividend |
Dec 17, 2019 | $0.165 | OrdinaryDividend |
Dec 18, 2018 | $0.109 | OrdinaryDividend |
Dec 15, 2017 | $0.178 | OrdinaryDividend |