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Name

As of 04/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Chinese Equity Portfolio

HLMCX | Fund

$5.10

$2.62 M

0.74%

$0.04

4.15%

Vitals

YTD Return

-1.2%

1 yr return

-15.1%

3 Yr Avg Return

-21.8%

5 Yr Avg Return

N/A

Net Assets

$2.62 M

Holdings in Top 10

44.3%

52 WEEK LOW AND HIGH

$5.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 4.15%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Chinese Equity Portfolio

HLMCX | Fund

$5.10

$2.62 M

0.74%

$0.04

4.15%

HLMCX - Profile

Distributions

  • YTD Total Return -1.2%
  • 3 Yr Annualized Total Return -21.8%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.23%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Chinese Equity Portfolio
  • Fund Family Name
    Harding Loevner
  • Inception Date
    Dec 16, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Pradipta Chakrabortty

Fund Description

The Portfolio invests primarily in Chinese companies. Harding Loevner LP (“Harding Loevner”), the Portfolio’s investment adviser, undertakes fundamental research in an effort to identify companies that are well managed, financially sound, fast growing, and strongly competitive, and whose shares are reasonably priced relative to estimates of their value.
Factors bearing on whether a company is considered a “Chinese company” may include: (1) it is legally domiciled in the People’s Republic of China (“China” or the “PRC”) or Hong Kong; (2) it conducts at least 50% of its business, as measured by the location of its sales, earnings, assets, or production in China or Hong Kong; or (3) it has the principal exchange listing for its securities in China or Hong Kong.
The Portfolio invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) (the “80% policy”) in common stocks, preferred stocks, rights, and warrants issued by Chinese companies, securities convertible into such securities (including depositary receipts), and investment companies that invest in the types of securities in which the Portfolio would normally invest. The Portfolio may also invest in China A-shares (shares of companies based in mainland China that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange). Because Chinese equity markets in some cases limit the amount of outstanding shares foreigners may own, or may otherwise present difficulties for efficient foreign investment, the Portfolio may use equity derivative securities to gain exposure to equity securities of Chinese companies. The Portfolio’s investments in these equity derivative instruments will be counted toward satisfaction of the Fund’s 80% policy, as such instruments are expected to have economic characteristics similar to the securities included within that policy. Such derivatives instruments will be valued on a “mark-to-market” basis.
The Portfolio is “non-diversified,” meaning it may invest a greater portion of its assets in a single company and own more of the company’s voting securities than is permissible for a “diversified” fund.
Read More

HLMCX - Performance

Return Ranking - Trailing

Period HLMCX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -19.0% 6.4% 66.33%
1 Yr -15.1% -32.2% 18.0% 74.49%
3 Yr -21.8%* -28.3% 0.5% 80.90%
5 Yr N/A* -16.3% 13.1% N/A
10 Yr N/A* -4.8% 8.5% N/A

* Annualized

Return Ranking - Calendar

Period HLMCX Return Category Return Low Category Return High Rank in Category (%)
2023 -20.0% -26.6% 26.3% 75.51%
2022 -27.1% -41.6% -9.4% 46.15%
2021 N/A -52.5% 26.5% N/A
2020 N/A 1.3% 138.5% N/A
2019 N/A -1.9% 42.6% N/A

Total Return Ranking - Trailing

Period HLMCX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -19.0% 6.4% 66.33%
1 Yr -15.1% -32.2% 18.0% 74.49%
3 Yr -21.8%* -28.3% 0.5% 80.90%
5 Yr N/A* -16.3% 13.1% N/A
10 Yr N/A* -4.8% 8.5% N/A

* Annualized

Total Return Ranking - Calendar

Period HLMCX Return Category Return Low Category Return High Rank in Category (%)
2023 -19.4% -25.7% 30.1% 78.57%
2022 -27.1% -40.4% -6.8% 58.24%
2021 N/A -48.9% 29.5% N/A
2020 N/A 2.0% 138.5% N/A
2019 N/A 7.8% 44.4% N/A

NAV & Total Return History

HLMCX - Holdings

Concentration Analysis

HLMCX Category Low Category High HLMCX % Rank
Net Assets 2.62 M 1.04 M 5.43 B 93.88%
Number of Holdings 53 27 1185 60.00%
Net Assets in Top 10 1.12 M 534 K 3.2 B 92.63%
Weighting of Top 10 44.25% 4.9% 81.8% 61.05%

Top 10 Holdings

  1. Northern Inst Fds TREAS PRT PRMR 13.90%
  2. Tencent Holdings Ltd. HKD0.00002 5.48%
  3. Trip.com Group Ltd. USD0.00125 3.71%
  4. Shanghai Friendess Electronic Technology Co Ltd. A CNY1 3.64%
  5. Alibaba Group Holding Ltd. USD0.000003125 3.46%
  6. AIA Group Ltd, Hong Kong NPV 3.18%
  7. NetEase Inc. USD0.0001 2.92%
  8. Inner Mongolia Yili Industrial Group Co Ltd. 'A'CNY1 2.81%
  9. Airtac International Group TWD10 2.70%
  10. Delta Electronics Inc. TWD10 2.45%

Asset Allocation

Weighting Return Low Return High HLMCX % Rank
Stocks 		86.23% 0.00% 101.98% 95.83%
Cash 		13.90% 0.00% 26.31% 3.16%
Preferred Stocks 		0.00% 0.00% 2.81% 61.05%
Other 		0.00% -0.02% 47.32% 58.95%
Convertible Bonds 		0.00% 0.00% 0.15% 60.64%
Bonds 		0.00% 0.00% 69.90% 57.29%

HLMCX - Expenses

Operational Fees

HLMCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 4.15% 0.09% 12.20% 11.58%
Management Fee 0.95% 0.09% 1.50% 72.45%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.06% 0.25% N/A

Sales Fees

HLMCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

HLMCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

HLMCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 4.00% 241.00% N/A

HLMCX - Distributions

Dividend Yield Analysis

HLMCX Category Low Category High HLMCX % Rank
Dividend Yield 0.74% 0.00% 9.66% 67.35%

Dividend Distribution Analysis

HLMCX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

HLMCX Category Low Category High HLMCX % Rank
Net Income Ratio -0.23% -1.76% 3.66% 64.89%

Capital Gain Distribution Analysis

HLMCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

HLMCX - Fund Manager Analysis

Managers

Pradipta Chakrabortty

Start Date

Tenure

Tenure Rank

Dec 16, 2020

1.45

1.5%

Pradipta Chakrabortty has been a portfolio manager and an analyst since 2008. As an analyst, he focuses on frontier emerging market companies. Mr. Chakrabortty graduated from BIRLA Institute of Technology & Science (Pilani, India) in 1994, received an MBA in Finance and Marketing from XLRI School of Management (Jamshedpur, India) in 1998, and received an MBA in Finance from University of Pennsylvania, the Wharton School, in 2008. He joined Harding Loevner in 2008. Mr. Chakrabortty serves as a co-lead portfolio manager for the Frontier Emerging Markets Portfolio and as a portfolio manager for the Institutional Emerging Markets Portfolio and Emerging Markets Portfolio.

Jingyi Li

Start Date

Tenure

Tenure Rank

Dec 16, 2020

1.45

1.5%

Jingyi Li is a cCo-Lead Portfolio Manager for the Global Equity strategy. He is also an analyst of China, Industrials, and Utilities. Jingyi began at the firm in 2010 and has 20 yrs of experience, including 5 years as a Vice President of New China Capital Management based in Connecticut and China before joining Harding Loevner. He is a graduate of the Yale School of Management (MBA 2005) and Shanghai Jiaotong University (BA 1998).

Wenting Shen

Start Date

Tenure

Tenure Rank

Dec 16, 2020

1.45

1.5%

Wenting Shen, CFA has been a portfolio manager for the Portfolio since its inception in 2020 and an analyst at the Adviser since 2016. Ms. Shen graduated from Peking University in 2009 and received an MBA from UCLA Anderson School of Management in 2014. She joined Harding Loevner in 2016. Prior to joining Harding Loevner, Ms. Shen was an equity analyst at Del Rey Global Investors, LLC from 2014 to 2016.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 24.1 3.69 3.22

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