A cautious optimism about the global economy, especially within the US, fostered the strong market gains in 2013, with investors anticipating earnings gains that might materialize when consumer and corporate confidence would translate into higher capital investment, more hiring, and higher consumer spending. But, importantly, there was evidence that investors looked to equities primarily to find current cash returns that have all but disappeared in fixed income markets, and neither wanted nor expected companies to expand their hiring or their capital investment. We believe that despite the current market obsession with near-term cash returns, the positive consensus coalescing around general corporate health, recuperating banking systems, and declining sovereign fiscal and debt burdens should eventually result in stronger capital spending growth in developed economies for new plants, new technology infrastructure and productivity enhancements, and for more research and development. That in turn could beget more hiring, and so optimism around job and income growth is also rising.
|total returns %||returns % *|
|quarter||1 year||3 years||5 years||10 years||since inception||Total Expense Ratio|
|Class A - US Dollar INCEPTION: 06/21/07||7.39||20.39||9.07||16.13||N.A.||4.73||0.84|
|Class A - Euro INCEPTION: 06/21/07||5.49||15.29||7.91||16.84||N.A.||4.40||0.84|
|Class A - GBP Sterling INCEPTION: 03/05/08||5.04||18.05||6.92||13.48||N.A.||9.48||0.84|
|Class A - Singapore Dollar INCEPTION: 08/05/08||8.06||24.33||8.47||13.15||N.A.||5.77||0.84|
|Class A - Australian Dollar INCEPTION: 10/04/12||12.16||39.92||N.A.||N.A.||N.A.||29.18||0.84|
|Class A - GBP Sterling INCEPTION: 06/07/13||1.88||N.A.||N.A.||N.A.||N.A.||3.41||0.87|
|Class I - US Dollar INCEPTION: 04/03/13||4.31||N.A.||N.A.||N.A.||N.A.||11.30||0.75|
|Class A - US Dollar INCEPTION: 09/25/12||3.58||3.87||N.A.||N.A.||N.A.||7.90||1.20|
|Class A - US Dollar INCEPTION: 09/25/12||6.88||26.90||N.A.||N.A.||N.A.||24.60||1.75|
Fund returns are net of fees.
*Returns since inception are total returns for currency classes less than one year old; returns greater than one year are average annualized returns.
Performance data quoted represents past performance; past performance does not guarantee future results.
The information contained herein concerns a sub-fund (the “Fund”) of Harding Loevner Funds plc (the “Company”), an umbrella-type open-ended investment company authorized in Ireland as an undertaking for collective investment in transferable securities (a “UCITS”) pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, as amended. Harding Loevner LP is the investment manager of the Company.
The investments of the Fund in securities are subject to normal market fluctuations and other risks inherent in investing in securities. The value of investments and the income from them, and therefore the value of and income from Shares relating to each Fund can go down as well as up and an investor may not get back the amount he invests. Changes in exchange rates between currencies or the conversion from one currency to another may also cause the value of the investments to diminish or increase. An investment in a Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors. For further discussion of risk factors, refer to the Risk Factors section of the Company’s prospectus and the applicable Fund’s Supplement to the Prospectus.
There can be no assurance that the Fund’s investment objective will be achieved and investment results may vary substantially over time. This document is for information purposes only and does not constitute an offer or invitation to purchase shares in the Fund and has not been prepared in connection with any such offer or invitation.
|Global Equity Class A - USD|
|Daily Change||-0.074 %|
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|International Equity Class A - USD|
|Daily Change||0.100 %|
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|Emerging Markets Class A - USD|
|Daily Change||0.560 %|
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|Frontier Markets Class A - USD|
|Daily Change||0.599 %|