Harding Loevner Global Equity Portfolio

This portfolio seeks investment opportunities across a broad spectrum of global economies, encompassing businesses based in the United States, other established developed nations, and dynamic emerging and frontier markets. It typically maintains holdings in at least fifteen different countries, ensuring extensive geographical diversification. A core investment policy mandates that at least 80% of its total net assets (including any capital obtained through borrowing for investment purposes) will be deployed into equity-related securities. These primarily consist of common and preferred stocks, rights, and warrants issued by companies domiciled both domestically and internationally. Additionally, the portfolio may invest in securities convertible into such equities, including Depositary Receipts, and shares of investment companies that focus on these types of holdings.