SONY - Harding Loevner Global Equity Q1 2025 Report
2025-05-21 09:15:00 ET
Summary
- Heightened US policy volatility and protectionist trade measures are undermining global business confidence and investment predictability, posing risks to long-term growth.
- We continue to favor resilient, high-quality global companies less exposed to political whims, reducing US exposure and finding attractive valuations abroad amid market volatility.
- Recent portfolio actions include buying ASML, The Trade Desk, and HEICO on weakness, while exiting Apple, Adyen, and Scout24 due to valuation concerns.
- Our disciplined process, focused on quality-growth and risk management, positions us to navigate uncertainty and capitalize on opportunities as global economic order shifts.
Performance: Total Return (%) Periods Ended March 31, 2025
| 3 Months |
| 1 Year |
| 3 Years |
| 5 Years |
| 10 Years |
| Since Inception |
| HL Global Equity (Gross) |
| -2.01 |
| 5.33 |
| 3.95 |
| 12.51 |
| 9.65 |
| 9.80 |
| HL Global Equity ( NET ) |
| -2.12 |
| 4.92 |
| 3.54 |
| 12.06 |
| 9.18 |
| 9.18 |
| MSCI All Country World Index |
| -1.22 |
| 7.63 |
| 7.42 |
| 15.70 |
| 9.38 |
| 7.67 |
| MSCI World Index |
| -1.68 |
| 7.50 |
| 8.09 |
| 16.66 |
| 10.06 |
| 7.88 |