Fund Evaluator:

Harding Loevner Global Equity Advisor Overview

Harding Loevner Global Equity Advisor (HLMGX) is an actively managed International Equity Global Large-Stock Growth fund. Harding Loevner launched the fund in 1996.

The investment seeks long-term capital appreciation. The Portfolio invests in companies based in the United States and other developed markets, as well as in emerging and frontier markets. It normally holds investments across at least 15 countries. The Portfolio invests 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 both inside and 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.

About Harding Loevner Global Equity Advisor (HLMGX)

There are 4 members of the management team with an average tenure of 6.38 years: Moon Surana (2022), Jingyi Li (2019), Richard Schmidt (2015), Sean Contant (2024). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI ACWI NR USD index with a weighting of 100%. Harding Loevner Global Equity Advisor has 62 securities in its portfolio. The top 10 holdings constitute 32.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Harding Loevner Global Equity Advisor is part of the Equity global asset class and is within the International Equity fund group. Harding Loevner Global Equity Advisor has 40.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 55.6%. There is 40.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Harding Loevner Global Equity Advisor has 3.8% of the portfolio in cash.

Assets Under Management

The fund has $13 million in total assets, which is below the $964 million average for the Global Large-Stock Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

HLMGX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Harding Loevner Global Equity Advisor expense ratio is high compared to funds in the Global Large-Stock Growth category. Harding Loevner Global Equity Advisor has an expense ratio of 1.09%, which is 2% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Harding Loevner Global Equity Advisor has a portfolio turnover rate of 30%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 46% for the Global Large-Stock Growth category.

Recently, in the month of August 2026, Harding Loevner Global Equity Advisor returned 3.3%, which earned it a grade of B, as the Global Large-Stock Growth category had an average return of 2.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Harding Loevner Global Equity Advisor has a trailing yield of 0.25%, which is below the 0.25% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Harding Loevner Global Equity Advisor Grades

Year to date, the fund has returned 8.4%, 0.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 12.3% over the past year (grade of C), 13.9% over the past three years (grade of D) and 3.0% per year over the past five years (grade of F) and 10.2% per year over the past 10 years (grade of F).

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