The top three sectors in this international fund are Technology (23.6% of assets); Financial Services (18.51%) and Healthcare, 15.89%).
Harding Loevner International Equity (HLMNX)
From Ian Wyatt’s Million Dollar Portfolio
Within the Million Dollar Portfolio, I currently have ~$11,000 invested in the Harding Loevner International Equity (HLMNX). The position is up roughly 11% since being added to the portfolio two years ago.
This is a long-term equity mutual fund that’s focused on international investments. The fund has 51% of assets invested in Europe, 19% in emerging markets and 13% in Japan. The balance of the fund’s assets is invested primarily in Asia and the Middle East.
Some of the biggest holdings include well known international companies including Samsung, Nestle, Allianz, Roche and Royal Dutch Shell.
Morningstar—the investment research company that rates and ranks mutual funds—gives this fund four stars. In a recent report, Morningstar writes, “Harding Loevner International Equity merits a Morningstar Analyst Rating of Silver, because it has several strengths, including an impressive management team.”
This year, the fund is experiencing very good performance with 17% YTD gains. Average annual returns over the last five years is 9.8%, a bit ahead of the benchmark index.
The fund has $8.4 billion in assets under management, a $5,000 minimum investment and a 1.1% expense ratio. There is no “sales charge” for investing in the fund, and it appears to be available on most brokerage platforms.
In the Million Dollar Portfolio, I’m going to invest another $7,000 in the fund. That will add to the current investment of $11,000, and considerably increase exposure to this holding.
With only 10.3% of the Million Dollar Portfolio invested internationally, now is a good time to be increasing exposure.
Recommended Action: Buy Harding Loevner International Equity (HLMNX).
Ian Wyatt, Ian Wyatt’s Million Dollar Portfolio, www.wyattresearch.com, July 14, 2017