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 |
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Harding Loevner Global Equity Q1 2025 ReportNASDAQ: SONY
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