Harding Loevner International Equity ADR Fund’s Q4 2021 Investor Letter

Harding Loevner, an investment management firm, published its “International Equity ADR Fund” fourth-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net return of 4.28% was recorded by the fund for the fourth quarter of 2021, beating its Benchmarks, the MSC All Country World ex-US Index, and the MSCI EAFE Index, which returned 1.88% and 2.74% respectively for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.