VRTX - Harding Loevner Global Equity Composite Q1 2024 Report

2024-05-29 05:20:00 ET

Summary

• Harding Loevner is an investment manager that invests primarily in publicly traded global equities. We were founded in 1989 by former managers for the Rockefeller family. Harding Loevner is a Delaware limited partnership. We operate independently of Affiliated Managers Group.
• The Global Equity composite rose 6.9% gross of fees in the first quarter, trailing the 8.3% gain in the MSCI All Country World Index.
• This quarter, we sold the last of our shares in NVIDIA, a company we held for more than five years.
• AsAI continues to be a thread among its clients’ projects, Globant projectsrevenue will climb 16% this year, well ahead of Gartner’s forecast for theIT-services industry.

Market Review

Stock markets gained in the quarter despite rising bond yields, due in no small part to ongoing interest in the prospects for artificial intelligence ('AI'). Most sectors and all regions except Pacific ex Japan finished in positive territory....

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