Fund Overview

Fund Overview

Share Class

NAV | as of 08/10/2022

$35.32
+$0.93 (+2.64%)

Morningstar | Style Box

V B G L M S

Morningstar Analyst Rating

as of 8/09/2021 Download Analyst Rating Report

Growth of $10,000 (Hypothetical)

Since Inception 12/01/1996 to 06/30/2022 = $50,594.66

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879 or visit our website at amgfunds.com. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Performance Data shown does not reflect the 2.00% redemption fee imposed on the shares held 90 days or less; otherwise, total returns would be reduced.

Objective

The Portfolio seeks long-term capital appreciation through investments in equity securities of companies based both inside and outside the United States.

Why Consider

  • The Fund may be appropriate for your overall investment allocation if you are looking to gain exposure to global equity investments
  • Harding Loevner monitors and manages risk at the security, portfolio and enterprise levels
  • The Firm’s extensive experience and structured research process has led to consistent execution of the high quality, growth investment philosophy

Peter Baughan, CFA

PORTFOLIO MANAGER

Jingyi Li

PORTFOLIO MANAGER

Scott Crawshaw

PORTFOLIO MANAGER

Christopher Mack, CFA

PORTFOLIO MANAGER

Richard Schmidt, CFA

PORTFOLIO MANAGER

Performance

Performance

Read Important Investment Disclosures

Returns

Trailing Returns

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879 or visit our website at amgfunds.com. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Performance Data shown does not reflect the 2.00% redemption fee imposed on the shares held 90 days or less; otherwise, total returns would be reduced.

Expense Ratios

  • Gross Expense Ratio: 1.08%
  • Net Expense Ratio: 1.08%
  • Expense Cap Expiration Date: N/A

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Dec 14, 2021 $7.405189 $0.767900 $6.637289
Dec 15, 2020 $2.635752 $0.325080 $2.310672
Dec 17, 2019 $0.101482 $0.101482
Dec 18, 2018 $3.759897 $0.043457 $0.100856 $3.615584
Dec 15, 2017 $5.095894 $0.077030 $0.493488 $4.525376
Dec 18, 2015 $0.864333 $0.027876 $0.836457
Dec 19, 2014 $1.263973 $0.032773 $1.231200
Dec 20, 2013 $0.199558 $0.072522 $0.002330 $0.124706
Dec 20, 2012 $0.048237 $0.048237
Dec 19, 2011 $0.265658 $0.045752 $0.219906
Dec 16, 2010 $0.168310 $0.006914 $0.161396
Dec 17, 2009 $0.042000 $0.042000
Dec 17, 2008 $0.087300 $0.087300
Dec 13, 2007 $2.078700 $0.083400 $0.058600 $1.936700
Dec 14, 2006 $1.873000 $0.076600 $1.796400
Dec 28, 2005 $0.542400 $0.061100 $0.481300
Dec 27, 2004 $0.022400 $0.022400
Dec 26, 2003 $0.065400 $0.065400
Dec 26, 2002 $0.034600 $0.034600
Dec 26, 2001 $0.063200 $0.004300 $0.058900
Dec 31, 1999 $2.109100 $0.161100 $1.571000 $0.377000
Dec 31, 1997 $2.189100 $0.245600 $0.634300 $1.309200
Dec 31, 1996 $0.012700 $0.012700

Risk & Return Stats

As of: 07/31/2022

3YR 5YR 10YR
Alpha
Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha.
-1.14 -0.91 -0.07
Standard Deviation
Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance.
19.43 17.62 14.46
Sharpe Ratio
Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance.
0.34 0.33 0.60
Upside Capture Ratio (%)
Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets.
102.43 102.66 107.12
Downside Capture Ratio (%)
Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets.
105.65 103.99 102.01
Beta
Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk.
1.01 1.03 1.02
R-Squared
R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures.
89.03 90.73 90.78
Tracking Error (%)
Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero.
6.44 5.39 4.40
View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 06/30/2022

Alphabet 3.82%
Vertex Pharmaceuticals 3.59%
First Republic Bank 3.26%
UnitedHealth Group 3.02%
Schneider Electric 2.87%
Microsoft 2.81%
SVB Financial Group 2.71%
John Deere 2.49%
Amazon.com 2.25%
L'Oréal 2.24%
% in Top 10 Holdings 29.05%
View Holding Details Read Important Investment Disclosures

Regional Allocation

As of: 06/30/2022

View Allocation Details

Investment Approach

Investment Approach

Harding Loevner Global Equity Portfolio

The Global Equity Portfolio invests in high-quality, growing companies in and outside the United States. Its investment universe includes developed and emerging markets.

Following a disciplined investment process focused on collaborative yet accountable decision-making, analysts study global industries to understand their competitive structures, assess the long-term risks and fair values of their constituent companies, and recommend those with high fundamental business quality and durable growth prospects. The Fund’s diversified portfolio is built from the bottom-up using Harding Loevner’s distinctive Co-Lead Manager structure, and seeks to realize superior risk-adjusted returns for clients. Mr. Peter Baughan, CFA and Mr. Ferrill Roll, CFA are the Co-Lead Portfolio Managers.

A World of Opportunity

While the U.S. stock market has rebounded from the COVID-19 Global Pandemic, uncertainty remains high. U.S. investors who have stayed invested are back to enjoying strong returns and continue to question the need to allocate beyond the US. However, while the U.S. stock market has led for the past several years, it is unclear that this will continue and further neglects opportunities abroad.

Read More

About

Background

Harding Loevner manages global and non-U.S. equity portfolios following a consistent philosophy focused on long-term investment in growing companies with high-quality fundamentals. The Firm believes diversified portfolios of the stocks of companies meeting its quality-growth criteria, purchased at reasonable prices, offer superior risk-adjusted returns over the long term.

Learn More

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Founded

1989


Headquarters

Bridgewater, NJ


Affiliate Since

2009

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