Harding Loevner Global Small Companies Equity Strategy’s Q1 2023 Investor Letter

Harding Loevner, an asset management company, released its “Global Small Companies Equity Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. Global small-cap stocks rose in the quarter despite failures in the banking sector.  In the first quarter, the strategy returned 4.64% net of fees compared to a 4.37% return for the MSCI All Country World Small Cap Index. The strategy benefitted from positive stock selection and sector and regional allocation. In addition, please check the fund’s top five holdings to know its best picks in 2023.