Strategy. The Portfolio invests primarily in Chinese companies. Harding Loevner LP (Harding Loevner), the Portfolios investment adviser, undertakes fundamental research in an effort to identify companies that are well managed, financially sound, fast growing, and strongly competitive, and whose shares are reasonably priced relative to estimates of their value. Factors bearing on whether a company is considered a Chinese company may include: (1) it is legally domiciled in the Peoples Republic of China (China or the PRC) or Hong Kong; (2) it conducts at least 50% of its business, as measured by the location of its sales, earnings, assets, or production in China or Hong Kong; or (3) it has the principal exchange listing for its securities in China or Hong … Show more… The Portfolio invests primarily in Chinese companies. Harding Loevner LP (Harding Loevner), the Portfolios investment adviser, undertakes fundamental research in an effort to identify companies that are well managed, financially sound, fast growing, and strongly competitive, and whose shares are reasonably priced relative to estimates of their value. Factors bearing on whether a company is considered a Chinese company may include: (1) it is legally domiciled in the Peoples Republic of China (China or the PRC) or Hong Kong; (2) it conducts at least 50% of its business, as measured by the location of its sales, earnings, assets, or production in China or Hong Kong; or (3) it has the principal exchange listing for its securities in China or Hong Kong. The Portfolio invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) (the 80% policy) in common stocks, preferred stocks, rights, and warrants issued by Chinese companies, securities convertible into such securities (including depositary receipts), and investment companies that invest in the types of securities in which the Portfolio would normally invest. The Portfolio may also invest in China A-shares (shares of companies based in mainland China that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange). Because Chinese equity markets in some cases limit the amount of outstanding shares foreigners may own, or may otherwise present difficulties for efficient foreign investment, the Portfolio may use equity derivative securities to gain exposure to equity securities of Chinese companies. The Portfolios investments in these equity derivative instruments will be counted toward satisfaction of the Funds 80% policy, as such instruments are expected to have economic characteristics similar to the securities included within that policy. Such derivatives instruments will be valued on a mark-to-market basis. Show less