- 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.
- Performance was weak across most regions, in Europe and Japan particularly, where some of the sharpest rotations in valuation style occurred.
- The International Small Companies composite declined 0.4% in the first quarter, significantly lagging the 5.6% return of the benchmark.
- We made four new purchases that add to our ability to withstand the full spectrum of “known unknowns”: from a bank poised to benefit from the travel bounce to a vertically integrated pork and poultry producer.
For further details see:
Harding Loevner International Small Companies Equity Q1 2021 Letter