Returns Chart

Key Stats

Net Expense Ratio Total Assets Under Management Weighted Average Dividend Yield Turnover Ratio (Generic)
1.76% 132.32M 3.27% 16.00%
1 Year Fund Level Flows 1 Year Total Returns (Daily) Annualized Total Returns Since Inception (Daily) Max Drawdown (Since Inception)
-13.74M 13.59% Upgrade Upgrade

Basic Info

Investment Strategy
The Portfolio seeks long term capital appreciation through investments in equity securities of companies based in frontier and smaller emerging markets. The Fund invests primarily in equity securities of companies that are based in frontier emerging markets, including the smaller traditionally-recognized emerging markets.
General
Security Type Mutual Fund
Broad Asset Class International Equity
Broad Category Equity
Global Peer Group Equity Frontier Markets
Peer Group Frontier Markets Funds
Global Macro Equity Emerging Markets
US Macro Emerging Markets Equity Funds
YCharts Categorization --
YCharts Benchmark --
Prospectus Objective Frontier Markets Funds
Fund Owner Firm Name Harding Loevner
Broad Asset Class Benchmark Index
^MSACXUSNTR 100.0%

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Net Fund Flows Versus Peer Group

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1M
3M
6M
YTD
1Y
3Y
5Y
10Y
 
80.00B
60.00B
40.00B
20.00B
0
-20.00B
1 Month
% Rank: 72
-3.581M Peer Group Low
54.84M Peer Group High
1 Year
% Rank: 86
-13.74M
-60.95M Peer Group Low
1.049B Peer Group High
3 Months
% Rank: 86
-17.91M Peer Group Low
286.08M Peer Group High
3 Years
% Rank: 93
-85.89M Peer Group Low
1.857B Peer Group High
6 Months
% Rank: 93
-9.663M Peer Group Low
568.20M Peer Group High
5 Years
% Rank: 93
-125.07M Peer Group Low
1.883B Peer Group High
YTD
% Rank: 86
-48.58M Peer Group Low
1.026B Peer Group High
10 Years
% Rank: 79
-921.25M Peer Group Low
1.891B Peer Group High
Date Unavailable

Performance Versus Peer Group

 
20%
15%
10%
5%
0
Name
1M
3M
YTD
1Y
3Y
5Y
10Y
15Y
Total Return (NAV)
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
Peer Group Rtn. (NAV)
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
% Rank in Peer Group (NAV)
5.0
5.0
5.0
5.0
5.0
5.0
5.0
5.0
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Annual Total Returns Versus Peers

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Name
2018
2019
2020
2021
2022
2023
2024
YTD
-15.69%
10.42%
-0.23%
9.82%
-19.27%
10.14%
8.36%
15.44%
-14.20%
21.51%
10.65%
7.82%
-16.00%
15.62%
5.53%
29.75%
-18.43%
13.75%
-4.40%
23.87%
-15.51%
10.27%
23.82%
17.55%
-18.49%
26.47%
28.24%
8.60%
-41.11%
28.16%
10.68%
5.80%
-13.92%
21.69%
3.97%
9.90%
-0.84%
13.30%
-3.41%
36.33%
--
--
--
--
--
28.70%
14.91%
34.48%
As of December 07, 2025.

Fundamentals

General
Distribution Yield --
Dividend Yield TTM (12-4-25) 1.29%
30-Day SEC Yield --
7-Day SEC Yield --
Number of Holdings 57
Stock
Weighted Average PE Ratio 19.32
Weighted Average Price to Sales Ratio 4.083
Weighted Average Price to Book Ratio 4.670
Weighted Median ROE 25.34%
Weighted Median ROA 8.47%
ROI (TTM) 20.18%
Return on Investment (TTM) 20.18%
Earning Yield 0.0743
LT Debt / Shareholders Equity 0.4889
Number of Equity Holdings 53
As of October 31, 2025

Growth Metrics

EPS Growth (1Y) 32.77%
EPS Growth (3Y) 14.11%
EPS Growth (5Y) 15.25%
Sales Growth (1Y) 15.43%
Sales Growth (3Y) 15.53%
Sales Growth (5Y) 12.94%
Sales per Share Growth (1Y) 18.42%
Sales per Share Growth (3Y) 16.29%
Operating Cash Flow - Growth Rate (3Y) 26.94%
As of October 31, 2025

Asset Allocation

As of October 31, 2025.
Type % Net
Cash 0.43%
Stock 97.60%
Bond 1.97%
Convertible 0.00%
Preferred 0.00%
Other 0.00%
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Top 10 Holdings

Name % Weight Price % Change
Societe d'Exploitation des Ports SA ORD
4.68% -- --
Credicorp Ltd. 4.56% 272.30 -1.93%
International Container Terminal Services, Inc. 4.42% 10.22 6.51%
Banca Transilvania SA ORD
4.31% -- --
Grupo Cibest SA 3.86% 62.41 -3.09%
Mobile World Investment Corp ORD
3.69% -- --
Hoa Phat Group JSC ORD
3.62% -- --
JSC Bank for Foreign Trade of Viet Nam ORD
3.41% -- --
Kaspi.kz JSC 3.15% 76.42 -0.93%
Attijariwafa Bank SA ORD
3.09% -- --

Fees & Availability

Fees
Actual 12B-1 Fee 0.25%
Actual Management Fee 0.69%
Administration Fee 1.48K%
Maximum Front Load --
Maximum Deferred Load --
Maximum Redemption Fee 0.00%
General Availability
Available for Insurance Product No
Available for RRSP No
Purchase Details
Open to New Investors Yes
Minimum Initial Investment 5000.00 None
Minimum Subsequent Investment 0.00 None

Basic Info

Investment Strategy
The Portfolio seeks long term capital appreciation through investments in equity securities of companies based in frontier and smaller emerging markets. The Fund invests primarily in equity securities of companies that are based in frontier emerging markets, including the smaller traditionally-recognized emerging markets.
General
Security Type Mutual Fund
Broad Asset Class International Equity
Broad Category Equity
Global Peer Group Equity Frontier Markets
Peer Group Frontier Markets Funds
Global Macro Equity Emerging Markets
US Macro Emerging Markets Equity Funds
YCharts Categorization --
YCharts Benchmark --
Prospectus Objective Frontier Markets Funds
Fund Owner Firm Name Harding Loevner
Broad Asset Class Benchmark Index
^MSACXUSNTR 100.0%

View Basic Info
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Fundamentals

General
Distribution Yield --
Dividend Yield TTM (12-4-25) 1.29%
30-Day SEC Yield --
7-Day SEC Yield --
Number of Holdings 57
Stock
Weighted Average PE Ratio 19.32
Weighted Average Price to Sales Ratio 4.083
Weighted Average Price to Book Ratio 4.670
Weighted Median ROE 25.34%
Weighted Median ROA 8.47%
ROI (TTM) 20.18%
Return on Investment (TTM) 20.18%
Earning Yield 0.0743
LT Debt / Shareholders Equity 0.4889
Number of Equity Holdings 53
As of October 31, 2025

Growth Metrics

EPS Growth (1Y) 32.77%
EPS Growth (3Y) 14.11%
EPS Growth (5Y) 15.25%
Sales Growth (1Y) 15.43%
Sales Growth (3Y) 15.53%
Sales Growth (5Y) 12.94%
Sales per Share Growth (1Y) 18.42%
Sales per Share Growth (3Y) 16.29%
Operating Cash Flow - Growth Rate (3Y) 26.94%
As of October 31, 2025

Fund Details

Key Dates
Inception Date 12/31/2010
Last Annual Report Date 10/31/2024
Last Prospectus Date 7/1/2025
Share Classes
HLFMX Inst
HLFZX Inst
Attributes
Index Fund --
Inverse Fund No
Leveraged Fund --
Fund of Funds No
Currency Hedged Fund --
Synthetic Replication Fund No

Top Portfolio Holders

Name % Weight
Portfolio A 5.00%
Portfolio B 3.50%
Portfolio C 2.25%
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Excel Add-In Codes

Name: =YCI("M:HLMOX", "name")
Broad Asset Class: =YCI("M:HLMOX", "broad_asset_class")
Broad Category: =YCI("M:HLMOX", "broad_category_group")
Prospectus Objective: =YCI("M:HLMOX", "prospectus_objective")
To find the codes for any of our securities and financial metrics, see our Complete Excel Reference.
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