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MCHFX Matthews China Investor

  • Fund
  • MCHFX
  • Price as of: Jul 19, 2017
  • $21.34
  • + $0.32
  • + 1.52%
  • Category
  • China Equities

MCHFX - Profile

Vitals

  • YTD Return 37.9%
  • 3 Yr Annualized Return 8.4%
  • 5 Yr Annualized Return 7.2%
  • Net Assets $654 M
  • Holdings in Top 10 51.1%

52 WEEK LOW AND HIGH

$21.34
$15.16
$21.34

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.18%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 83.82%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$500

Investment Themes

CATEGORY

China Equities
  • Fund Type Open End Mutual Fund
  • Investment Style China Region

Distributions

  • YTD Total Return 37.9%
  • 3 Yr Annualized Total Return 8.4%
  • 5 Yr Annualized Total Return 7.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.24%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Matthews China Fund
  • Fund Family Name Matthews Asia Funds
  • Inception Date Feb 19, 1998
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager Henry Zhang

Fund Description

The Matthews China Fund Investor Class (MCHFX) is an actively managed fund that focuses on Chinese equities. The fund uses fundamental metrics to invest directly in stocks domiciled in China, Hong Kong and its administrative and other districts. MCHFX’s managers specifically invest in companies that are capable of sustainable growth. A focus on cash flows, earnings and balance sheet strength are major points for research.

With its focus on a single emerging-market nation, MCHFX should only be used as a satellite position in a portfolio. The fund is managed by Matthews Asia.

MCHFX - Performance

Return Ranking - Trailing

Period MCHFX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 37.9% 0.0% 41.1% 8.11% 1
1 Yr 40.3% -32.3% 40.6% 2.63% 1
3 Yr 8.4% * -3.2% 15.4% 19.12% 1
5 Yr 7.2% * 2.4% 14.3% 63.49% 4
10 Yr 5.0% * -0.4% 7.0% 18.75% 1

* Annualized


Return Ranking - Calendar

Period MCHFX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -16.0% -16.0% 12.4% 90.54% 5
2015 -14.2% -34.4% 1.1% 67.57% 4
2014 -6.0% -23.4% 14.5% 50.00% 3
2013 -2.7% -13.3% 51.3% 62.32% 4
2012 9.1% -30.0% 27.8% 86.15% 5

Total Return Ranking - Trailing

Period MCHFX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 37.9% 0.0% 41.1% 8.45% 1
1 Yr 40.3% -33.1% 40.6% 2.74% 1
3 Yr 8.4% * -5.0% 15.4% 14.71% 1
5 Yr 7.2% * 1.9% 14.3% 61.90% 4
10 Yr 5.0% * -0.4% 7.0% 18.75% 1

* Annualized


Total Return Ranking - Calendar

Period MCHFX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -16.0% -16.0% 13.9% 94.37% 5
2015 2.8% -18.3% 4.3% 4.23% 1
2014 -5.3% -7.9% 27.5% 88.73% 5
2013 9.1% -5.3% 95.7% 69.70% 4
2012 17.3% -31.8% 53.9% 90.32% 5

NAV & Total Return History

MCHFX - Holdings

Filings data as of: Mar 31, 2017

Concentration Analysis

MCHFX Category Low Category High MCHFX % Rank Quintile
Net Assets 654 M 3.32 M 1.17 B 3.90% 1
Number of Holdings 48 29 148 20.78% 3
Net Assets in Top 10 291 M 1.8 M 449 M 3.90% 1
Weighting of Top 10 51.1% 25.2% 59.5% 16.88% 3

Top 10 Holdings

  1. Tencent Holdings Ltd 10.90%
  2. Ping An Insurance (Group) Co. of China Ltd H 4.93%
  3. China Construction Bank Corp H 5.29%
  4. Alibaba Group Holding Ltd ADR 5.16%
  5. Industrial And Commercial Bank Of China Ltd H 4.02%
  6. China Merchants Bank Co Ltd Class H 3.69%
  7. CITIC Securities Co Ltd H 3.28%
  8. China Life Insurance Co Ltd H Shares 7.65%
  9. NetEase Inc ADR 3.46%
  10. China Petroleum & Chemical Corp H Shares 2.70%

Asset Allocation

Weighting Category Low Category High MCHFX % Rank Quintile
Stocks
94.82% 90.03% 103.16% 29.87% 4
Other
5.18% -0.19% 9.42% 6.49% 1
Preferred Stocks
0.00% 0.00% 0.79% 2.60% 2
Convertible Bonds
0.00% 0.00% 0.00% 1.30% 2
Cash
0.00% -3.16% 9.15% 35.06% 5
Bonds
0.00% 0.00% 1.57% 6.49% 2

Stock Sector Breakdown

Weighting Category Low Category High MCHFX % Rank Quintile
Financial Services
32.24% 0.00% 46.81% 2.60% 1
Technology
24.25% 1.90% 53.03% 22.08% 3
Consumer Cyclical
14.55% 2.43% 26.60% 25.97% 3
Industrials
10.97% 1.09% 25.82% 15.58% 2
Basic Materials
4.97% 0.00% 8.96% 9.09% 1
Energy
2.70% 0.00% 13.60% 23.38% 4
Real Estate
1.92% 0.00% 10.88% 32.47% 4
Communication Services
1.09% 0.00% 10.78% 36.36% 5
Consumer Defense
0.50% 0.00% 16.32% 41.56% 5
Healthcare
0.11% 0.00% 18.88% 41.56% 5
Utilities
0.00% 0.00% 9.04% 36.36% 5

Stock Geographic Breakdown

Weighting Category Low Category High MCHFX % Rank Quintile
Non US
94.82% 87.76% 103.16% 19.48% 3
US
0.00% 0.00% 4.26% 23.38% 3

MCHFX - Expenses

Operational Fees

MCHFX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.18% 0.86% 9.49% 77.92% 1
Management Fee 0.66% 0.66% 1.36% 16.88% 1
12b-1 Fee 0.00% 0.00% 1.00% 11.11% 1
Administrative Fee 0.14% 0.05% 0.30% 10.20% 3

Sales Fees

MCHFX Fees (% of AUM) Category Low Category High MCHFX Rank Quintile
Front Load N/A 0.15% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

MCHFX Fees (% of AUM) Category Low Category High MCHFX Rank Quintile
Max Redemption Fee 2.00% 0.05% 2.00% 3.57% 3

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

MCHFX Fees (% of AUM) Category Low Category High MCHFX Rank Quintile
Turnover 83.82% 3.87% 165.00% 16.88% 4

MCHFX - Distributions

Dividend Yield Analysis

MCHFX Category Low Category High MCHFX % Rank Quintile
Dividend Yield 0.3% 0.00% 4.43% 33.33% 2

Dividend Distribution Analysis

MCHFX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

MCHFX Category Low Category High MCHFX % Rank Quintile
Net Income Ratio 1.24% -0.99% 2.98% 22.08% 2

Capital Gain Distribution Analysis

MCHFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

MCHFX - Managers

Henry Zhang

Manager

Start Date

Apr 30, 2010

Tenure

7.17

Tenure Rank

8.7%

HENRY ZHANG, CFA Henry Zhang is a Portfolio Manager at Matthews. Prior to joining Matthews in 2007 as a Research Analyst, Henry served as an Application Consultant and Project Manager at Gifford Fong Associates for five years, where he was responsible for derivative security valuation, portfolio strategy investigation and investment risk analysis. Prior to moving to the United States, Henry worked for more than four years at Huaneng Power International, Inc., a NYSE-listed corporation, in China. Henry received a Master’s degree in Financial Engineering from the University of California, Berkeley and a B.S. in Finance from San Francisco State University. Henry is fluent in Mandarin, and has been a Portfolio Manager of the China Fund since 2010 and of the China Small Companies Fund since the Fund’s inception in 2011.


Winnie Chwang

Manager

Start Date

Apr 30, 2014

Tenure

3.17

Tenure Rank

21.5%

Winnie Chwang is a Portfolio Manager at Matthews. She joined the firm in 2004 and has built her investment career at Matthews. Winnie earned an M.B.A. from the Haas School of Business and received her B.A. in Economics with a minor in Business Administration from the University of California, Berkeley. She is fluent in Mandarin and conversational in Cantonese.


Andrew Mattock

Lead Manager

Start Date

Apr 30, 2015

Tenure

2.17

Tenure Rank

23.5%

Andrew Mattock is a Portfolio Manager at Matthews and co-manages the firm’s China strategy. Prior to joining the firm in 2015, he was a Fund Manager at Henderson Global Investors for 15 years, first in London and then in Singapore, managing Asia Pacific equities. Andrew holds a Bachelor of Business majoring in Accounting and began his career at PricewaterhouseCoopers and qualified as a Chartered Accountant.


Tenure Analysis

Category Low

0.3

Category High

23.4

Category Average

6

Category Mode

2.5