Harding Loevner International Eq Instl  HLMIX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Foreign Large Growth Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Large
   Growth
  
  
As of 2009-10-31
Day Change
$ -0.09
  
NAV (2009-11-20)
$ 12.53
  
YTD Return % (2009-11-20)
36.49%
  
Total Assets ($ mil)
321
View Data Definitions
  Performance    
Growth of $10,000 Fund: Harding Loevner International Eq Instl
(from 1999-01-01 to 2009-10-31) Category: Foreign Large Growth
Index: MSCI EAFE NR USD
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20
Inception date: 1994-05-11 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-20
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 36.49 75.24 -0.31 7.67 2.91 5.23
+/- Category 6.78 46.23 4.45 2.64 0.89 ---
+/- MSCI EAFE NR USD 6.88 22.56 4.44 3.41 --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 32.24 2.99 0.12 8.73 3.39 5.32
Month-End (as of 2009-10-31) 31.15 32.77 -1.37 7.84 2.91 5.23
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 28.21 -3.50 6.36 1.86 ---
On Distribution & Sale of Shares --- 24.42 -1.56 6.49 2.19 ---
Morningstar Rating --- --- ---
# of compared funds covered (3 yrs : out of 202 funds), (5 yrs : out of 153 funds), (10 yrs : out of 84 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is 2.00%.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
Information 22.89
Software 3.29
Hardware 6.21
Media 3.26
Telecommunications 10.13
Service 28.38
Healthcare 8.91
Consumer Services 4.27
Business Services 2.24
Financial Services 12.96
Manufacturing 48.73
Consumer Goods 24.15
Industrial Materials 12.51
Energy 12.08
Utilities 0.00
Asset Allocation
% of Net Assets
Cash 1.6
Stocks 98.4
Bonds 0.0
Other 0.0
Foreign Stocks 94.2
(as a % of Assets)
Data through 2009-10-31 Data through 2009-10-31
 
Holding Status
Total Number of Stock Holdings 53 Turnover % 18
Total Number of Bond Holdings 0 30 Day SEC Yield % ---
% of Assets in Top 10 Holdings 28.77 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Sector Country % of Net
Assets
Nestle SA ADR Switzerland 3.45
Air Liquide France 3.43
Dassault Systemes SA France 3.18
WPP Plc United Kingdom 3.15
Allianz SE Germany 2.83
Standard Chartered PLC United Kingdom 2.79
China Resources Enterprise Ltd Hong Kong 2.74
Bunge, Ltd. United States 2.48
Alcon, Inc. Switzerland 2.37
Atlas Copco Sweden 2.35
Data through 2009-10-31
  Other Information
Fund Inception: 1994-05-11
Portfolio Manager  (Start Date)
Simon Hallett  (1994-05-11)
Hallett is a senior portfolio manager and principal of Harding, Loevner Management, his employer since 1991. Previously, he spent 10 years with Jardine Fleming Investment Management, where he was director in charge of a team of six portfolio managers investing in the markets of Southeast and North Asia. Hallett holds the Charted Financial Analyst designation.
Alexander T. Walsh  (2001-01-31)
Alec is a co-portfolio manager of the global equity model and analyst. His research respnsibilities include Health Care and Mining. He joined Harding Loevner in 1994. Alec holds the Chartered Financial Analyst designation.
Peter J. Baughan  (2004-10-31)
Peter is the co-portfolio manager of the global equity model. His analytical responsibilities include information technology utilities and US and Europe telecom services industries. He joined Harding Loevner in 1997. He worked nine years at Rockefeller & Co., two years spent in New York as an investment analyst and the balance in London and Paris as manager of the firm’s European private equity investment portfolio. From 1983-1988, Peter worked at Chase Manhattan Bank.
Ferrill Roll  (2004-10-31)
Roll is a director of Harding Loevner's general partner and a member of the investment committee at Harding Loevner, his employer since 1996. Prior to 1996, he was general partner of Cesar Montemayor Capital, L.P. Roll also worked in international equity sales at First Boston and Baring Securities. He began his career at JP Morgan, where he established the currency options trading department and advised corporate clients on foreign exchange markets. Roll holds the Chartered Financial Analyst designation.
Sales Charge %
(taken from prospectus dated 2008-12-31)
Front: None
Deferred: None
Expense Ratio % 0.98
based on net assets
(taken from annual report dated 2008-10-31)
Correspondence Information
50 Division Street
Suite 401
Somerville,  NJ  08876
USA
Telephone:
877-435-8105
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.