The Harding Loevner International Equity Fund USD Class R

The Fund's investment objective is to provide long-term capital appreciation by investing primarily in equities of companies based in global markets other than the United States of America. The Fund will invest in freely transferable equity and equity related securities primarily of issuers listed or traded on a regulated stock exchange or domiciled in the following countries or regions: Europe, the Pacific Rim, Canada, Mexico and emerging or frontier markets. No more than 35% of the Net Assets of the Fund may be invested in emerging and frontier markets. The Fund will also invest (up to 10% of its Net Asset Value) in open-ended collective investment schemes which shall be mainly in the form of exchange traded funds and shall be listed and traded in the US and Europe. Under normal circumstances at least 70% of the Fund’s net assets will be invested in the foregoing instruments, i.e. in freely transferable equity and equity related securities primarily of issuers listed or traded on a regulated stock exchange or domiciled in Europe, the Pacific Rim, Canada, Mexico and emerging or frontier markets. The Fund will be highly diversified and therefore will not be concentrating on any specific regions or economic sectors. It will pursue a policy of active stock selection in the markets in which it operates. Equity related securities include, but are not limited to, common stocks, preferred stocks, warrants, rights, convertible securities, depositary receipts, equity-linked notes and participatory notes. Warrants are securities that give the holder the right to purchase securities from the issuer at a specific price within a certain timeframe. Rights give shareholders in a company the option to purchase new shares issued by Risk and Reward Profile that company at a predetermined price in proportion to the number of shares already owned. Convertible securities are securities, usually bonds or preferred shares that can be converted into common stock. Depositary receipts are financial instruments issued by a bank which provide a return on the shares and stocks they represent. Equity-linked notes and participatory notes (p-notes) are financial instruments which may be used by a Fund to gain indirect exposure to various equity markets in countries where direct investment is either impossible or difficult due to local investment restrictions. The Fund is classified as an Article 8 financial product under the SFDR. The Fund promotes the environmental characteristic of energy transition management and/or the social characteristic of social responsibility. Investee companies must also follow good governance practices in accordance with Article 8 of SFDR. The Fund does not have sustainable investment as its investment objective. Your shares do not pay you income, instead the Fund reinvests income to grow your capital. You can sell your shares on a daily basis. The Fund is actively managed by the Investment Manager and has discretion over the composition of its portfolio. The performance of the Fund will be measured against the MSCI All Country World ex-US Index. This Fund may not be appropriate for investors who plan to withdraw their money within a five to seven year market cycle. For more information, please see the section entitled 'Investment Objective and Policies' in the Prospectus.