Overview
Hardman Johnston Global Advisors LLC (“Hardman Johnston” or the “Firm”) is an
independent, global equity boutique investing in high quality growth companies at value
prices. We follow a clear investment philosophy and disciplined process that results in high
conviction portfolios designed to deliver consistent, long term performance in excess of
benchmarks. Our firm has been built around our approach. We are 100% employee
owned, and Cassandra A. Harman is the principal owner. We are global in our coverage to
maximize the opportunity set. We are disciplined in our stock selection, and we are
focused on in-depth fundamental research. Our investment approach has been
consistently applied for over three decades, and our clients have benefitted from the long-
term results. As of December 31, 2023, the Firm managed $6,831,522,808 on a
discretionary basis for both tax exempt and taxable clients. Clients include pension plans,
endowments, foundations, state governmental agencies, Taft-Hartley plans, families, and
individuals. Hardman Johnston is a Connecticut Limited Liability Company that is
registered with the SEC as an investment adviser under the Investment Advisers Act of
1940 (the “Advisers Act”).
Types of Advisory Services
Hardman Johnston provides investment advisory services on a discretionary basis in
accordance with the methods described in the Methods of Analysis, Investment Strategies
and Risk of Loss section of this brochure.
Hardman Johnston provides discretionary investment advisory services to separately
managed accounts, private funds, and a mutual fund (as sub-adviser) as described in the
Types of Clients section of this brochure.
The Firm is general partner to four private funds (Hardman Johnston International Equity
Fund I, L.P., Hardman Johnston International Equity Fund II, L.P., Hardman Johnston
Emerging Markets Equity Fund, L.P., and the Hardman Johnston Capital Partners Fund I,
L.P.), and investment manager to two group trusts (Hardman Johnston International Equity
Group Trust, and the Hardman Johnston Global Equity Group Trust) (collectively, the
“Private Funds”). The Firm also is general partner to one internal private fund that is not
currently offered to external clients (the “Proprietary Fund”). In addition, the firm is a sub-
adviser to a mutual fund (Hardman Johnston International Growth Fund).
Investment Philosophy & Strategies
The Firm follows the same investment philosophy for all strategies. Our investment
philosophy is built on two key tenets:
• Earnings growth drives stock performance over time; and
• There are short term inefficiencies in the market that create attractive entry points.
Hardman Johnston offers discretionary investment advisory services to external clients
across five different investment strategies: (1) International Equity; (2) Global Equity; (3)
Emerging Markets Equity; (4) Select Equity; and (5) Large Cap Equity.
International Equity
The Hardman Johnston International Equity utilizes a concentrated approach to
investing in non-US equities. It operates under a clear definition of growth, while
employing value discipline and quality criteria in
our selection process. The result is
a portfolio of 20 to 30 mid- to large-capitalization growth companies diversified by
industry and country across developed and emerging markets.
The International Equity strategy is available in separately managed accounts,
private funds for accredited investors (Hardman Johnston International Equity Fund
I, L.P.), qualified purchasers (Hardman Johnston International Equity Fund II, L.P.),
and for qualified participants (Hardman Johnston International Equity Group Trust),
and a mutual fund (Hardman Johnston International Growth Fund).
For clients who require it, we offer this product in separately managed accounts that
invest only in ADRs or equities of non-United States companies traded on United
States exchanges.
Global Equity
The Hardman Johnston Global Equity strategy utilizes a concentrated approach to
investing in developed and emerging market equities. It operates under a clear
definition of growth, while employing value discipline and quality criteria in our
selection process. The result is a portfolio of 25 to 35 mid- to large-capitalization
growth companies diversified by industry and country across developed and
emerging markets.
The Global Equity strategy is offered in separately managed accounts and a private
fund for qualified participants (Hardman Johnston Global Equity Group Trust).
Emerging Markets Equity
The Hardman Johnston Emerging Markets Equity strategy utilizes a concentrated
approach to investing in equities primarily within the MSCI Emerging Markets Net
Index. It operates under a clear definition of growth, while employing value
discipline and quality criteria in our selection process. The result is a portfolio of 20
to 45 mid- to large-capitalization growth companies diversified by industry and
country.
The Emerging Markets strategy is offered in separately managed accounts and a
private fund for qualified purchasers (Hardman Johnston Emerging Markets Equity
Fund, L.P.).
Select Equity
The Hardman Johnston Select Equity strategy utilizes a concentrated approach to
investing in US based companies and select foreign domiciled companies via ADRs.
We operate under a clear definition of growth, while employing value discipline and
quality criteria in our selection process. The result is a portfolio of 30 to 35 mid- to
large-capitalization growth companies diversified by industry.
For existing clients, we may manage subsets of this strategy that invest in other
securities as client accommodations.
The Select Equity strategy is available in separately managed accounts and in a
private fund for accredited investors (Hardman Johnston Capital Partners Fund I,
L.P.).
Large Cap Equity
The Hardman Johnston Large Cap Equity strategy invests in US based companies
and select foreign domiciled companies via ADRs. It operates under a clear
definition of growth, while employing value discipline and quality criteria in our
selection process. The result is a portfolio of 45 to 55 mid- to large-capitalization
growth companies diversified across within sectors.
The Firm does not have any wrap clients and does not participate in any wrap fee business.