Harding Loevner Emerging Markets Equity Fund’s Q1 2022 Investor Letter

Harding Loevner, an investment management firm, published its “Emerging Markets Equity Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. Emerging Markets (EMS) declined 6.9% this quarter as measured by the MSCI EM Index, primarily due to the collapse in Russian equities and poor performance in China. As a result of the uncertainty around the war, European stocks with material businesses in, or trade linkages to, Russia or Ukraine sold off, as well as stocks in markets closest to the conflict. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.