Harding Loevner manages global and non-U.S. equity portfolios following a consistent philosophy focused on long-term investment in growing companies with high-quality fundamentals. The firm invests only in businesses that are skillfully managed, financially strong, and well-positioned for sustainable growth, and which benefit from competitive advantages in their industries. Portfolio holdings are researched and valued by a team of analysts using a disciplined process that combines in-depth study of individual companies and global analysis of their industries’ competitive structures. Harding Loevner believes well-diversified portfolios of the stocks of companies meeting its quality-growth criteria, purchased at reasonable prices, offer superior risk-adjusted returns over the long term.