0001193125-22-185764.txt : 20220630 0001193125-22-185764.hdr.sgml : 20220630 20220630111534 ACCESSION NUMBER: 0001193125-22-185764 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 14 FILED AS OF DATE: 20220630 DATE AS OF CHANGE: 20220630 EFFECTIVENESS DATE: 20220630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HARDING LOEVNER FUNDS INC CENTRAL INDEX KEY: 0001018170 IRS NUMBER: 000000000 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-09341 FILM NUMBER: 221056920 BUSINESS ADDRESS: STREET 1: 400 CROSSING BLVD. STREET 2: FOURTH FLOOR CITY: BRIDGEWATER STATE: NJ ZIP: 08807 BUSINESS PHONE: 8774358105 MAIL ADDRESS: STREET 1: 333 S. WABASH AVENUE CITY: CHICAGO STATE: IL ZIP: 60604 FORMER COMPANY: FORMER CONFORMED NAME: HLM FUNDS INC/ FA DATE OF NAME CHANGE: 19960705 0001018170 S000016295 Harding Loevner International Small Companies Portfolio C000045116 INSTITUTIONAL HLMRX C000045117 INVESTOR HLMSX 497 1 d366931d497.htm HARDING, LOEVNER FUNDS Harding, Loevner Funds

Harding, Loevner Funds, Inc.
Supplement dated June 30, 2022 to the
Summary Prospectus for International Small Companies Portfolio - Investor Class, dated February 28, 2022
and
Prospectus for Individual Investors, dated February 28, 2022
Harding Loevner LP has contractually agreed to lower the expense cap for the Investor Class of the International Small Companies Portfolio (the “Portfolio”) to 1.30%, through February 28, 2024. This change will become effective as of July 1, 2022.
Accordingly, the “Portfolio Summary — Portfolio Fees and Expenses” section of the Portfolio’s Investor Class Summary Prospectus and Prospectus for Individual Investors is hereby deleted and replaced with the following:
 
Portfolio Fees and Expenses
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Investor Class of the Portfolio. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.
Shareholder Fees
(Fees Paid Directly from Your Investment)
 
   
Maximum Sales Charge (Load) Imposed on Purchases (As a Percentage of Offering Price)    None
Redemption Fee (As a Percentage of Amount Redeemed within 90 days or Less from the Date of Purchase)    None
Annual Portfolio Operating Expenses
(Expenses that You Pay Each Year as a Percentage of the Value of Your Investment)
 
   
Management Fees
     0.95
Distribution (Rule 12b‑1) Fees
     0.25
Other Expenses1
     0.26
Total Annual Portfolio Operating Expenses
     1.46
Fee Waiver and/or Expense Reimbursement2
     -0.16
Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement2      1.30
1 Expense information in this table has been restated to reflect current fees.
2 Harding Loevner LP has contractually agreed to waive a portion of its management fee and/or reimburse the Investor Class of the Portfolio for its other operating expenses to the extent Total Annual Portfolio Operating Expenses (excluding dividend expenses, borrowing costs, interest expense relating to short sales, interest, taxes, brokerage commissions and extraordinary expenses), as a percentage of average daily net assets, exceed 1.30% through February 28, 2024. This fee waiver and expense reimbursement agreement may be terminated by the Board at any time and will automatically terminate upon the termination of the Investment Advisory Agreement. The Fee Waiver and/or Expense Reimbursement and Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement have been restated to reflect the current expense limitation arrangement. Therefore, the expenses in this table will not correlate to the expenses shown in the Financial Highlights of the Portfolio.
Example:
This example is intended to help you compare the cost of investing in the Investor Class of the Portfolio with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Investor Class of the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Investor Class’s operating expenses remain the same, except that the example assumes the fee waiver and expense reimbursement agreement pertains only through February 28, 2024. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
 
1 Year    3 Years    5 Years    10 Years
$132    $429    $766    $1,718
 
 
 
Investors Should Retain this Supplement for Future Reference.


Harding, Loevner Funds, Inc.

Supplement dated June 30, 2022 to the

Statement of Additional Information, dated February 28, 2022, as amended June 10, 2022 (the “SAI”)

Disclosure Related to the Investor Class of the International Small Companies Portfolio

Harding Loevner LP has contractually agreed to lower the expense cap for the Investor Class of the International Small Companies Portfolio to 1.30%, through February 28, 2024. This change will become effective as of July 1, 2022.

Accordingly, effective July 1, 2022, the paragraph immediately preceding the expense cap table and the expense cap table in the “Investment Adviser” section of the SAI are hereby deleted and replaced with the following:

With respect to each Portfolio set forth in the table below, Harding Loevner has contractually agreed to waive a portion of its management fees and/or reimburse the Portfolio for its other operating expenses to the extent necessary to prevent the Portfolio’s Total Annual Operating Expenses (excluding any expenses attributable to (1) dividend expense, borrowing costs and interest expense relating to short sales and (2) interest, taxes, brokerage commissions and extraordinary expenses) from exceeding the fee waiver and/or expense reimbursement percentage applicable to the Portfolio. The waiver and reimbursement arrangements with respect to each Portfolio are expected to continue until at least February 28, 2023, except that the waiver and reimbursement arrangement with respect to the Investor Class of the International Small Companies Portfolio is expected to continue until at least February 28, 2024. The fee waiver and/or expense reimbursement percentages applicable to each Portfolio are set forth in the following table.

 

Portfolio    Class    Contractual Fee Waiver and/or
Expense Reimbursement
Percentage
(based on average daily net assets)
Global Equity    Institutional Class    0.90%
     Advisor Class    1.20%
     Institutional Class Z    0.80%
International Equity    Institutional Class    1.00%
     Investor Class    1.25%
     Institutional Class Z    0.80%
International Small Companies    Institutional Class    1.15%
     Investor Class    1.30%
Institutional Emerging Markets    Institutional Class    1.10%
     Institutional Class Z    1.00%
Emerging Markets    Advisor Class    1.30%
Chinese Equity    Institutional Class    1.15%
Frontier Emerging Markets    Institutional Class I    1.75%
     Institutional Class II    1.35%
     Investor    2.00%
Global Equity Research    Institutional Class    0.80%
International Equity Research    Institutional Class    0.75%
Emerging Markets Research    Institutional Class    1.15%

Investors Should Retain this Supplement for Future Reference.

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Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
Harding, Loevner Funds, Inc.
Supplement dated June 30, 2022 to the
Summary Prospectus for International Small Companies Portfolio - Investor Class, dated February 28, 2022
and
Prospectus for Individual Investors, dated February 28, 2022
Harding Loevner LP has contractually agreed to lower the expense cap for the Investor Class of the International Small Companies Portfolio (the “Portfolio”) to 1.30%, through February 28, 2024. This change will become effective as of July 1, 2022.
Accordingly, the “Portfolio Summary — Portfolio Fees and Expenses” section of the Portfolio’s Investor Class Summary Prospectus and Prospectus for Individual Investors is hereby deleted and replaced with the following:
Portfolio Fees and Expenses
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Investor Class of the Portfolio. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.
Shareholder Fees
(Fees Paid Directly from Your Investment)
   
Maximum Sales Charge (Load) Imposed on Purchases (As a Percentage of Offering Price)    None
Redemption Fee (As a Percentage of Amount Redeemed within 90 days or Less from the Date of Purchase)    None
Annual Portfolio Operating Expenses
(Expenses that You Pay Each Year as a Percentage of the Value of Your Investment)
   
Management Fees
     0.95
Distribution (Rule 12b‑1) Fees
     0.25
Other Expenses1
     0.26
Total Annual Portfolio Operating Expenses
     1.46
Fee Waiver and/or Expense Reimbursement2
     -0.16
Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement2      1.30
1 Expense information in this table has been restated to reflect current fees.
2 Harding Loevner LP has contractually agreed to waive a portion of its management fee and/or reimburse the Investor Class of the Portfolio for its other operating expenses to the extent Total Annual Portfolio Operating Expenses (excluding dividend expenses, borrowing costs, interest expense relating to short sales, interest, taxes, brokerage commissions and extraordinary expenses), as a percentage of average daily net assets, exceed 1.30% through February 28, 2024. This fee waiver and expense reimbursement agreement may be terminated by the Board at any time and will automatically terminate upon the termination of the Investment Advisory Agreement. The Fee Waiver and/or Expense Reimbursement and Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement have been restated to reflect the current expense limitation arrangement. Therefore, the expenses in this table will not correlate to the expenses shown in the Financial Highlights of the Portfolio.
Example:
This example is intended to help you compare the cost of investing in the Investor Class of the Portfolio with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Investor Class of the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Investor Class’s operating expenses remain the same, except that the example assumes the fee waiver and expense reimbursement agreement pertains only through February 28, 2024. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
1 Year    3 Years    5 Years    10 Years
$132    $429    $766    $1,718
Harding Loevner International Small Companies Portfolio  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
Harding, Loevner Funds, Inc.
Supplement dated June 30, 2022 to the
Summary Prospectus for International Small Companies Portfolio - Investor Class, dated February 28, 2022
and
Prospectus for Individual Investors, dated February 28, 2022
Harding Loevner LP has contractually agreed to lower the expense cap for the Investor Class of the International Small Companies Portfolio (the “Portfolio”) to 1.30%, through February 28, 2024. This change will become effective as of July 1, 2022.
Accordingly, the “Portfolio Summary — Portfolio Fees and Expenses” section of the Portfolio’s Investor Class Summary Prospectus and Prospectus for Individual Investors is hereby deleted and replaced with the following:
Portfolio Fees and Expenses
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Investor Class of the Portfolio. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.
Shareholder Fees
(Fees Paid Directly from Your Investment)
   
Maximum Sales Charge (Load) Imposed on Purchases (As a Percentage of Offering Price)    None
Redemption Fee (As a Percentage of Amount Redeemed within 90 days or Less from the Date of Purchase)    None
Annual Portfolio Operating Expenses
(Expenses that You Pay Each Year as a Percentage of the Value of Your Investment)
   
Management Fees
     0.95
Distribution (Rule 12b‑1) Fees
     0.25
Other Expenses1
     0.26
Total Annual Portfolio Operating Expenses
     1.46
Fee Waiver and/or Expense Reimbursement2
     -0.16
Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement2      1.30
1 Expense information in this table has been restated to reflect current fees.
2 Harding Loevner LP has contractually agreed to waive a portion of its management fee and/or reimburse the Investor Class of the Portfolio for its other operating expenses to the extent Total Annual Portfolio Operating Expenses (excluding dividend expenses, borrowing costs, interest expense relating to short sales, interest, taxes, brokerage commissions and extraordinary expenses), as a percentage of average daily net assets, exceed 1.30% through February 28, 2024. This fee waiver and expense reimbursement agreement may be terminated by the Board at any time and will automatically terminate upon the termination of the Investment Advisory Agreement. The Fee Waiver and/or Expense Reimbursement and Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement have been restated to reflect the current expense limitation arrangement. Therefore, the expenses in this table will not correlate to the expenses shown in the Financial Highlights of the Portfolio.
Example:
This example is intended to help you compare the cost of investing in the Investor Class of the Portfolio with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Investor Class of the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Investor Class’s operating expenses remain the same, except that the example assumes the fee waiver and expense reimbursement agreement pertains only through February 28, 2024. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
1 Year    3 Years    5 Years    10 Years
$132    $429    $766    $1,718
Expense [Heading] rr_ExpenseHeading Portfolio Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Investor Class of the Portfolio. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (Fees Paid Directly from Your Investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Portfolio Operating Expenses (Expenses that You Pay Each Year as a Percentage of the Value of Your Investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination February 28, 2024
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Expense information in this table has been restated to reflect current fees.
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock
This example is intended to help you compare the cost of investing in the Investor Class of the Portfolio with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Investor Class of the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Investor Class’s operating expenses remain the same, except that the example assumes the fee waiver and expense reimbursement agreement pertains only through February 28, 2024. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
 
Harding Loevner International Small Companies Portfolio | Investor Class  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (As a Percentage of Offering Price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Redemption Fee (As a Percentage of Amount Redeemed within 90 days or Less from the Date of Purchase) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 0.95%
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.26% [1]
Total Annual Portfolio Operating Expenses rr_ExpensesOverAssets 1.46%
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.16%) [2]
Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 1.30% [2]
1 Year rr_ExpenseExampleYear01 $ 132
3 Years rr_ExpenseExampleYear03 429
5 Years rr_ExpenseExampleYear05 766
10 Years rr_ExpenseExampleYear10 $ 1,718
[1] Expense information in this table has been restated to reflect current fees.
[2] Harding Loevner LP has contractually agreed to waive a portion of its management fee and/or reimburse the Investor Class of the Portfolio for its other operating expenses to the extent Total Annual Portfolio Operating Expenses (excluding dividend expenses, borrowing costs, interest expense relating to short sales, interest, taxes, brokerage commissions and extraordinary expenses), as a percentage of average daily net assets, exceed 1.30% through February 28, 2024. This fee waiver and expense reimbursement agreement may be terminated by the Board at any time and will automatically terminate upon the termination of the Investment Advisory Agreement. The Fee Waiver and/or Expense Reimbursement and Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement have been restated to reflect the current expense limitation arrangement. Therefore, the expenses in this table will not correlate to the expenses shown in the Financial Highlights of the Portfolio.
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This change will become effective as of July 1, 2022.</div> <div style="margin-top: 11pt; margin-bottom: 0pt; font-size: 11pt; font-family: times new roman;"><span style="font-style: italic;">Accordingly, the “Portfolio Summary — Portfolio Fees and Expenses” section of the Portfolio’s Investor Class Summary Prospectus and Prospectus for Individual Investors is hereby deleted and replaced with the following: </span></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;"><span style="color: #7f073f;"><span style="font-weight: bold;">Portfolio Fees and Expenses</span></span></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Investor Class of the Portfolio. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</div> <div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial;"><span style="color: #7f073f;">Shareholder Fees </span></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial;"><span style="color: #7f073f;">(Fees Paid Directly from Your Investment) </span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8.5pt; width: 100%; border: 0px; margin: 0 auto;"> <tr> <td style="width: 88%;"/> <td style="vertical-align: bottom; width: 4%;"/> <td style="width: 8%;"/> </tr> <tr style="font-size: 1pt;"> <td style="border-top: 0.75pt solid #7f073f; height: 6pt;"> </td> <td colspan="2" style="border-top: 0.75pt solid #7f073f; height: 6pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;">Maximum Sales Charge (Load) Imposed on Purchases (As a Percentage of Offering Price)</td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;">None</td> </tr> <tr style="font-size: 1pt;"> <td style="height: 6pt;"/> <td colspan="2" style="height: 6pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;">Redemption Fee (As a Percentage of Amount Redeemed within 90 days or Less from the Date of Purchase)</td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;">None</td> </tr> </table> <div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial;"><span style="color: #7f073f;">Annual Portfolio Operating Expenses </span></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial;"><span style="color: #7f073f;">(Expenses that You Pay Each Year as a Percentage of the Value of Your Investment) </span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8.5pt; width: 100%; border: 0px; margin: 0 auto;"> <tr> <td style="width: 86%;"/> <td style="vertical-align: bottom; width: 4%;"/> <td/> <td/> <td style="vertical-align: bottom; width: 4%;"/> </tr> <tr style="font-size: 1pt;"> <td style="border-top: 0.75pt solid #7f073f; height: 3.75pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7f073f; height: 3.75pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8.5pt; font-family: arial;">Management Fees</div> </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"> </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom; text-align: right;">0.95</td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="4" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8.5pt; font-family: arial;">Distribution (Rule 12b‑1) Fees</div> </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"> </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom; text-align: right;">0.25</td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="4" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8.5pt; font-family: arial;">Other Expenses<sup style="font-size: 85%; vertical-align: top;">1</sup></div> </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"> </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom; text-align: right;">0.26</td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="4" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8.5pt; font-family: arial; font-weight: bold;">Total Annual Portfolio Operating Expenses</div> </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"><span style="font-weight: bold;"> </span></td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom; text-align: right;"><span style="font-weight: bold;">1.46</span></td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"><span style="font-weight: bold;">% </span></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="4" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8.5pt; font-family: arial;">Fee Waiver and/or Expense Reimbursement<sup style="font-size: 85%; vertical-align: top;">2</sup></div> </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"> </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom; text-align: right;">-0.16</td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="4" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"><span style="font-weight: bold;">Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement<sup style="font-size: 85%; vertical-align: top;">2</sup></span></td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: top;"><span style="font-weight: bold;"> </span></td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: top; text-align: right;"><span style="font-weight: bold;">1.30</span></td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: top;"><span style="font-weight: bold;">% </span></td> </tr> </table> <div style="margin-top: 3pt; margin-bottom: 0pt; font-size: 6.5pt; font-family: arial;"><sup style="font-size: 85%; vertical-align: top;">1</sup> Expense information in this table has been restated to reflect current fees.</div> <div style="margin-top: 3pt; margin-bottom: 0pt; font-size: 6.5pt; font-family: arial;"><sup style="font-size: 85%; vertical-align: top;">2</sup> Harding Loevner LP has contractually agreed to waive a portion of its management fee and/or reimburse the Investor Class of the Portfolio for its other operating expenses to the extent Total Annual Portfolio Operating Expenses (excluding dividend expenses, borrowing costs, interest expense relating to short sales, interest, taxes, brokerage commissions and extraordinary expenses), as a percentage of average daily net assets, exceed 1.30% through February 28, 2024. This fee waiver and expense reimbursement agreement may be terminated by the Board at any time and will automatically terminate upon the termination of the Investment Advisory Agreement. The Fee Waiver and/or Expense Reimbursement and Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement have been restated to reflect the current expense limitation arrangement. Therefore, the expenses in this table will not correlate to the expenses shown in the Financial Highlights of the Portfolio.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial;"><span style="color: #7f073f;">Example: </span></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;">This example is intended to help you compare the cost of investing in the Investor Class of the Portfolio with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Investor Class of the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Investor Class’s operating expenses remain the same, except that the example assumes the fee waiver and expense reimbursement agreement pertains only through February 28, 2024. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8.5pt; width: 100%; border: 0px; margin: 0 auto;"> <tr> <td style="width: 26%;"/> <td style="vertical-align: bottom; width: 4%;"/> <td style="width: 21%;"/> <td style="vertical-align: bottom; width: 4%;"/> <td style="width: 21%;"/> <td style="vertical-align: bottom; width: 4%;"/> <td style="width: 20%;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="text-align: center; border-bottom: 0.75pt solid #7f073f; vertical-align: top;"><span style="color: #7f073f;">1 Year</span></td> <td style="border-bottom: 0.75pt solid #7f073f; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #7f073f; vertical-align: top;"><span style="color: #7f073f;">3 Years</span></td> <td style="border-bottom: 0.75pt solid #7f073f; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #7f073f; vertical-align: top;"><span style="color: #7f073f;">5 Years</span></td> <td style="border-bottom: 0.75pt solid #7f073f; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #7f073f; vertical-align: top;"><span style="color: #7f073f;">10 Years</span></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="2" style="height: 3.75pt;"/> <td colspan="2" style="height: 3.75pt;"/> <td colspan="2" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="text-align: center; border-bottom: 0.75pt solid #cccccc; vertical-align: top;">$132</td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #cccccc; vertical-align: top;">$429</td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #cccccc; vertical-align: top;">$766</td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #cccccc; vertical-align: top;">$1,718</td> </tr> </table> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 11pt; font-family: times new roman; font-weight: bold; text-align: center;">Harding, Loevner Funds, Inc.</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 11pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated June 30, 2022 to the</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 11pt; font-family: times new roman; text-align: center;"><span style="font-weight: bold;">Summary Prospectus for International Small Companies Portfolio </span>-<span style="font-weight: bold;"> Investor Class, dated February <span style="font-weight: bold;">28, 2022</span></span></div> <div style="margin-top: 3pt; margin-bottom: 0pt; font-size: 11pt; font-family: times new roman; font-weight: bold; text-align: center;">and</div> <div style="margin-top: 3pt; margin-bottom: 0pt; font-size: 11pt; font-family: times new roman; font-weight: bold; text-align: center;">Prospectus for Individual Investors, dated February 28, 2022</div> <div style="margin-top: 17pt; margin-bottom: 0pt; font-size: 11pt; font-family: times new roman;">Harding Loevner LP has contractually agreed to lower the expense cap for the Investor Class of the International Small Companies Portfolio (the “Portfolio”) to 1.30%, through February 28, 2024. This change will become effective as of July 1, 2022.</div> <div style="margin-top: 11pt; margin-bottom: 0pt; font-size: 11pt; font-family: times new roman;"><span style="font-style: italic;">Accordingly, the “Portfolio Summary — Portfolio Fees and Expenses” section of the Portfolio’s Investor Class Summary Prospectus and Prospectus for Individual Investors is hereby deleted and replaced with the following: </span></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;"><span style="color: #7f073f;"><span style="font-weight: bold;">Portfolio Fees and Expenses</span></span></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Investor Class of the Portfolio. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</div> <div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial;"><span style="color: #7f073f;">Shareholder Fees </span></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial;"><span style="color: #7f073f;">(Fees Paid Directly from Your Investment) </span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8.5pt; width: 100%; border: 0px; margin: 0 auto;"> <tr> <td style="width: 88%;"/> <td style="vertical-align: bottom; width: 4%;"/> <td style="width: 8%;"/> </tr> <tr style="font-size: 1pt;"> <td style="border-top: 0.75pt solid #7f073f; height: 6pt;"> </td> <td colspan="2" style="border-top: 0.75pt solid #7f073f; height: 6pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;">Maximum Sales Charge (Load) Imposed on Purchases (As a Percentage of Offering Price)</td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;">None</td> </tr> <tr style="font-size: 1pt;"> <td style="height: 6pt;"/> <td colspan="2" style="height: 6pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;">Redemption Fee (As a Percentage of Amount Redeemed within 90 days or Less from the Date of Purchase)</td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;">None</td> </tr> </table> <div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial;"><span style="color: #7f073f;">Annual Portfolio Operating Expenses </span></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial;"><span style="color: #7f073f;">(Expenses that You Pay Each Year as a Percentage of the Value of Your Investment) </span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8.5pt; width: 100%; border: 0px; margin: 0 auto;"> <tr> <td style="width: 86%;"/> <td style="vertical-align: bottom; width: 4%;"/> <td/> <td/> <td style="vertical-align: bottom; width: 4%;"/> </tr> <tr style="font-size: 1pt;"> <td style="border-top: 0.75pt solid #7f073f; height: 3.75pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7f073f; height: 3.75pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8.5pt; font-family: arial;">Management Fees</div> </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"> </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom; text-align: right;">0.95</td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="4" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8.5pt; font-family: arial;">Distribution (Rule 12b‑1) Fees</div> </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"> </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom; text-align: right;">0.25</td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="4" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8.5pt; font-family: arial;">Other Expenses<sup style="font-size: 85%; vertical-align: top;">1</sup></div> </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"> </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom; text-align: right;">0.26</td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="4" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8.5pt; font-family: arial; font-weight: bold;">Total Annual Portfolio Operating Expenses</div> </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"><span style="font-weight: bold;"> </span></td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom; text-align: right;"><span style="font-weight: bold;">1.46</span></td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"><span style="font-weight: bold;">% </span></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="4" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8.5pt; font-family: arial;">Fee Waiver and/or Expense Reimbursement<sup style="font-size: 85%; vertical-align: top;">2</sup></div> </td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;"> </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom; text-align: right;">-0.16</td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="4" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: top;"><span style="font-weight: bold;">Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement<sup style="font-size: 85%; vertical-align: top;">2</sup></span></td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: top;"><span style="font-weight: bold;"> </span></td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: top; text-align: right;"><span style="font-weight: bold;">1.30</span></td> <td style="border-bottom: 0.75pt solid #cccccc; white-space: nowrap; vertical-align: top;"><span style="font-weight: bold;">% </span></td> </tr> </table> <div style="margin-top: 3pt; margin-bottom: 0pt; font-size: 6.5pt; font-family: arial;"><sup style="font-size: 85%; vertical-align: top;">1</sup> Expense information in this table has been restated to reflect current fees.</div> <div style="margin-top: 3pt; margin-bottom: 0pt; font-size: 6.5pt; font-family: arial;"><sup style="font-size: 85%; vertical-align: top;">2</sup> Harding Loevner LP has contractually agreed to waive a portion of its management fee and/or reimburse the Investor Class of the Portfolio for its other operating expenses to the extent Total Annual Portfolio Operating Expenses (excluding dividend expenses, borrowing costs, interest expense relating to short sales, interest, taxes, brokerage commissions and extraordinary expenses), as a percentage of average daily net assets, exceed 1.30% through February 28, 2024. This fee waiver and expense reimbursement agreement may be terminated by the Board at any time and will automatically terminate upon the termination of the Investment Advisory Agreement. The Fee Waiver and/or Expense Reimbursement and Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement have been restated to reflect the current expense limitation arrangement. Therefore, the expenses in this table will not correlate to the expenses shown in the Financial Highlights of the Portfolio.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial;"><span style="color: #7f073f;">Example: </span></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;">This example is intended to help you compare the cost of investing in the Investor Class of the Portfolio with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Investor Class of the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Investor Class’s operating expenses remain the same, except that the example assumes the fee waiver and expense reimbursement agreement pertains only through February 28, 2024. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8.5pt; width: 100%; border: 0px; margin: 0 auto;"> <tr> <td style="width: 26%;"/> <td style="vertical-align: bottom; width: 4%;"/> <td style="width: 21%;"/> <td style="vertical-align: bottom; width: 4%;"/> <td style="width: 21%;"/> <td style="vertical-align: bottom; width: 4%;"/> <td style="width: 20%;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="text-align: center; border-bottom: 0.75pt solid #7f073f; vertical-align: top;"><span style="color: #7f073f;">1 Year</span></td> <td style="border-bottom: 0.75pt solid #7f073f; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #7f073f; vertical-align: top;"><span style="color: #7f073f;">3 Years</span></td> <td style="border-bottom: 0.75pt solid #7f073f; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #7f073f; vertical-align: top;"><span style="color: #7f073f;">5 Years</span></td> <td style="border-bottom: 0.75pt solid #7f073f; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #7f073f; vertical-align: top;"><span style="color: #7f073f;">10 Years</span></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3.75pt;"/> <td colspan="2" style="height: 3.75pt;"/> <td colspan="2" style="height: 3.75pt;"/> <td colspan="2" style="height: 3.75pt;"/> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8.5pt;"> <td style="text-align: center; border-bottom: 0.75pt solid #cccccc; vertical-align: top;">$132</td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #cccccc; vertical-align: top;">$429</td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #cccccc; vertical-align: top;">$766</td> <td style="border-bottom: 0.75pt solid #cccccc; vertical-align: bottom;">  </td> <td style="text-align: center; border-bottom: 0.75pt solid #cccccc; vertical-align: top;">$1,718</td> </tr> </table> 2022-06-30 2022-02-28 Portfolio Fees and Expenses This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Investor Class of the Portfolio. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. Shareholder Fees (Fees Paid Directly from Your Investment) 0 0 Annual Portfolio Operating Expenses (Expenses that You Pay Each Year as a Percentage of the Value of Your Investment) 0.0095 0.0025 0.0026 0.0146 -0.0016 0.0130 Expense information in this table has been restated to reflect current fees. February 28, 2024 Example: <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;">This example is intended to help you compare the cost of investing in the Investor Class of the Portfolio with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Investor Class of the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Investor Class’s operating expenses remain the same, except that the example assumes the fee waiver and expense reimbursement agreement pertains only through February 28, 2024. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</div> <div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> 132 429 766 1718 Expense information in this table has been restated to reflect current fees. Harding Loevner LP has contractually agreed to waive a portion of its management fee and/or reimburse the Investor Class of the Portfolio for its other operating expenses to the extent Total Annual Portfolio Operating Expenses (excluding dividend expenses, borrowing costs, interest expense relating to short sales, interest, taxes, brokerage commissions and extraordinary expenses), as a percentage of average daily net assets, exceed 1.30% through February 28, 2024. This fee waiver and expense reimbursement agreement may be terminated by the Board at any time and will automatically terminate upon the termination of the Investment Advisory Agreement. The Fee Waiver and/or Expense Reimbursement and Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement have been restated to reflect the current expense limitation arrangement. Therefore, the expenses in this table will not correlate to the expenses shown in the Financial Highlights of the Portfolio. 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