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MICFX Matthews China Instl

  • Fund
  • MICFX
  • Price as of: Jul 20, 2018
  • $21.58
  • + $0.21
  • + 0.98%
  • Category
  • China Equities

MICFX - Profile

Vitals

  • YTD Return -2.7%
  • 3 Yr Annualized Return 9.5%
  • 5 Yr Annualized Return 11.9%
  • Net Assets $1.04 B
  • Holdings in Top 10 49.0%

52 WEEK LOW AND HIGH

$21.58
$20.66
$26.05

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.93%

SALES FEES

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

BROKERAGE FEES

  • Turnover 78.74%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$100,000

IRA

$100,000

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return -2.7%
  • 3 Yr Annualized Total Return 9.5%
  • 5 Yr Annualized Total Return 11.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.99%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Matthews China Fund
  • Fund Family Name Matthews Asia Funds
  • Inception Date Oct 29, 2010
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Henry Zhang

Fund Description

Under normal market conditions, the fund seeks to achieve its investment objective by investing at least 80% of its net assets, which include borrowings for investment purposes, in the common and preferred stocks of companies located in China. China includes its administrative and other districts, such as Hong Kong. A company or other issuer is considered to be "located" in a country or a region, and a security or instrument will deemed to be an Asian (or specific country) security or instrument, if it has substantial ties to that country or region.

MICFX - Performance

Return Ranking - Trailing

Period MICFX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.7% -19.3% 44.5% 56.76% 4
1 Yr 22.6% -32.3% 47.0% 28.95% 2
3 Yr 9.5% * -3.2% 14.2% 27.94% 2
5 Yr 11.9% * 4.2% 14.8% 23.44% 2
10 Yr 7.2% * 1.8% 9.2% 27.08% 2

* Annualized


Return Ranking - Calendar

Period MICFX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 43.6% -9.3% 58.1% 31.08% 2
2016 -16.0% -28.2% 12.4% 86.49% 5
2015 -14.2% -34.4% 5.7% 71.62% 4
2014 -6.0% -23.4% 19.8% 47.30% 3
2013 -2.7% -30.0% 51.3% 64.71% 4

Total Return Ranking - Trailing

Period MICFX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.7% -19.3% 44.5% 59.15% 4
1 Yr 22.6% -33.1% 47.0% 23.29% 2
3 Yr 9.5% * -5.0% 14.2% 22.06% 2
5 Yr 11.9% * 3.7% 14.8% 23.44% 2
10 Yr 7.2% * 1.8% 9.2% 18.75% 1

* Annualized


Total Return Ranking - Calendar

Period MICFX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 43.6% -9.3% 58.1% 32.39% 2
2016 -16.0% -16.9% 13.9% 94.37% 5
2015 2.9% -18.3% 9.1% 21.13% 1
2014 -5.1% -7.9% 27.5% 87.32% 5
2013 9.4% -31.8% 95.7% 69.23% 4

NAV & Total Return History

MICFX - Holdings

Filings data as of: Mar 31, 2018

Concentration Analysis

MICFX Category Low Category High MICFX % Rank Quintile
Net Assets 1.04 B 2.84 M 1.42 B 3.90% 1
Number of Holdings 49 29 160 19.48% 3
Net Assets in Top 10 527 M 1.8 M 628 M 2.60% 1
Weighting of Top 10 49.0% 27.6% 65.6% 23.38% 3

Top 10 Holdings

  1. Tencent Holdings Ltd 6.68%
  2. Ping An Insurance (Group) Co. of China Ltd H 3.85%
  3. China Construction Bank Corp H 4.77%
  4. Alibaba Group Holding Ltd ADR 10.38%
  5. Industrial And Commercial Bank Of China Ltd H 4.79%
  6. China Life Insurance Co Ltd H Shares 4.47%
  7. Agricultural Bank of China Ltd H 4.98%
  8. Sino Biopharmaceutical Ltd 3.47%
  9. Chinasoft International Ltd 2.98%
  10. China Mobile Ltd 2.60%

Asset Allocation

Weighting Category Low Category High MICFX % Rank Quintile
Stocks
99.68% 90.03% 103.16% 5.19% 1
Cash
0.32% -3.16% 5.31% 35.06% 5
Preferred Stocks
0.00% 0.00% 0.79% 3.90% 2
Other
0.00% 0.00% 9.42% 16.88% 3
Convertible Bonds
0.00% 0.00% 0.00% 1.30% 2
Bonds
0.00% 0.00% 0.00% 1.30% 2

Stock Sector Breakdown

Weighting Category Low Category High MICFX % Rank Quintile
Financial Services
29.52% 0.41% 47.62% 7.79% 1
Technology
19.96% 7.26% 56.51% 33.77% 4
Consumer Cyclical
17.14% 2.43% 28.60% 22.08% 3
Industrials
7.80% 1.09% 21.41% 19.48% 2
Basic Materials
6.56% 0.00% 9.31% 5.19% 1
Real Estate
4.54% 0.00% 12.23% 19.48% 2
Consumer Defense
3.85% 0.00% 18.34% 25.97% 4
Healthcare
3.47% 0.00% 18.88% 27.27% 4
Communication Services
2.60% 0.00% 10.78% 24.68% 3
Energy
2.52% 0.00% 13.60% 22.08% 3
Utilities
1.71% 0.00% 9.04% 20.78% 3

Stock Geographic Breakdown

Weighting Category Low Category High MICFX % Rank Quintile
Non US
99.68% 90.03% 103.16% 3.90% 1
US
0.00% 0.00% 3.68% 20.78% 3

MICFX - Expenses

Operational Fees

MICFX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.93% 0.87% 9.06% 87.01% 1
Management Fee 0.66% 0.66% 1.36% 19.48% 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

MICFX Fees (% of AUM) Category Low Category High MICFX 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

MICFX Fees (% of AUM) Category Low Category High MICFX Rank Quintile
Max Redemption Fee 2.00% 0.05% 2.00% 3.57% 2

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.

MICFX Fees (% of AUM) Category Low Category High MICFX Rank Quintile
Turnover 78.74% 7.92% 156.89% 12.99% 4

MICFX - Distributions

Dividend Yield Analysis

MICFX Category Low Category High MICFX % Rank Quintile
Dividend Yield 0.3% 0.00% 4.43% 27.59% 2

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

MICFX Category Low Category High MICFX % Rank Quintile
Net Income Ratio 0.99% -1.18% 2.90% 27.27% 2

Capital Gain Distribution Analysis

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

MICFX - Managers

Henry Zhang

Manager

Start Date

Apr 30, 2010

Tenure

8.17

Tenure Rank

8.3%

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.


Winnie Chwang

Manager

Start Date

Apr 30, 2014

Tenure

4.17

Tenure Rank

17.2%

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

3.17

Tenure Rank

21.0%

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

0.2

Category High

24.4

Category Average

5.73

Category Mode

3.5