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Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

MATTHEWS JAPAN FUND

MJFOX | Fund

$20.30

$703 M

0.00%

$0.00

1.05%

Vitals

YTD Return

15.5%

1 yr return

28.7%

3 Yr Avg Return

0.0%

5 Yr Avg Return

7.1%

Net Assets

$703 M

Holdings in Top 10

36.9%

52 WEEK LOW AND HIGH

$20.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.05%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 70.30%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

MATTHEWS JAPAN FUND

MJFOX | Fund

$20.30

$703 M

0.00%

$0.00

1.05%

MJFOX - Profile

Distributions

  • YTD Total Return 15.5%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 7.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.38%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    MATTHEWS JAPAN FUND
  • Fund Family Name
    Matthews Asia Funds
  • Inception Date
    Dec 31, 1998
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Taizo Ishida

Fund Description

Under normal circumstances, the Matthews Japan 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 Japan. A company or other issuer is considered to be “located” in a country or a region, and a security or instrument is deemed to be an Asian (or specific country) security or instrument, if it has substantial ties to that country or region. Matthews currently makes that determination based primarily on one or more of the following criteria: (A) with respect to a company or issuer, whether (i) it is organized under the laws of that country or any country in that region; (ii) it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed, or has at least 50% of its assets located, within that country or region; (iii) it has the primary trading markets for its securities in that country or region; (iv) it has its principal place of business in or 
is otherwise headquartered in that country or region; or (v) it is a governmental entity or an agency, instrumentality or a political subdivision of that country or any country in that region; and (B) with respect to an instrument or issue, whether (i) its issuer is headquartered or organized in that country or region; (ii) it is issued to finance a project that has at least 50% of its assets or operations in that country or region; (iii) it is at least 50% secured or backed by assets located in that country or region; (iv) it is a component of or its issuer is included in the MSCI Japan Index, the Fund’s primary benchmark index; or (v) it is denominated in the currency of an Asian country and addresses at least one of the other above criteria. The term “located” and the associated criteria listed above have been defined in such a way that Matthews has latitude in determining whether an issuer should be included within a region or country. The Fund may also invest in depositary receipts, including American, European and Global Depositary Receipts. 
The Fund seeks to invest in companies capable of sustainable growth based on the fundamental characteristics of those companies, including balance sheet information; number of employees; size and stability of cash flow; management’s depth, adaptability and integrity; product lines; marketing strategies; corporate governance; and financial health. The Fund may invest in companies of any market capitalization. Matthews measures a company’s size with respect to fundamental criteria such as, but not limited to, market capitalization, book value, revenues, profits, cash flow, dividends paid and number of employees. The implementation of the principal investment strategies of the Fund may result in a significant portion of the Fund’s assets being invested from time to time in one or more sectors, but the Fund may invest in companies in any sector. 
Matthews may also take into consideration environmental, social and governance (ESG) characteristics of companies in selecting portfolio investments as part of the investment process for this Fund in an effort to reduce what it regards as the sustainability risks of its investments. Not all of the Fund’s investments will demonstrate those ESG characteristics, and there could be instances where Matthews is unable to assess the ESG characteristics of a company. Matthews’ investment process in this regard is carried out through a combination of exclusionary ESG screens and the use of both external and proprietary ESG data. Matthews uses various sources of information, including but not limited to third-party ESG rating firms and Matthews’ own analysis, in assessing a company’s ESG characteristics, which include, but are not limited to, an issuer’s use of natural resources and its impact on the natural environment; the impacts of an issuer on human and social capital, including employee welfare, human rights, health and safety, and product quality; and how an issuer’s board of directors ensures accountability, fairness and transparency in the issuer’s relationship with its stakeholders. Matthews will also employ a screening process utilizing third party data to help it exclude investments in corporate issuers that have a material exposure to certain business activities. As an example, this screening process may use various thresholds based on the percentage of revenue derived from (1) the production or sale of tobacco products, (2) controversial weapons (e.g., cluster munitions) or the production or military contracting for weapons, and (3) the exploration, extraction, or production of energy using certain fossil fuels, including thermal coal. The screening process is also used to help 
Matthews exclude companies that are in direct conflict with the goals of the UN Global Compact or the OECD Guidelines for Multinational Enterprises. The ESG characteristics used by Matthews to identify or exclude potential investments may change from time to time. Once invested in a company, Matthews may engage with its portfolio companies on sustainability and governance matters through active dialogue, exercising shareholder rights and by encouraging enhanced ESG disclosure and implementation. 
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MJFOX - Performance

Return Ranking - Trailing

Period MJFOX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.5% 3.1% 24.1% 21.05%
1 Yr 28.7% 6.5% 64.3% 28.95%
3 Yr 0.0%* -10.9% 24.4% 57.14%
5 Yr 7.1%* -1.4% 20.1% 48.48%
10 Yr 7.4%* 2.4% 13.0% 37.50%

* Annualized

Return Ranking - Calendar

Period MJFOX Return Category Return Low Category Return High Rank in Category (%)
2023 18.0% 0.0% 36.8% 23.68%
2022 -32.5% -34.0% 2.8% 94.59%
2021 -12.6% -15.7% 14.9% 85.29%
2020 17.5% -6.2% 31.2% 39.39%
2019 16.1% 4.7% 24.4% 71.88%

Total Return Ranking - Trailing

Period MJFOX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.5% 3.1% 24.1% 21.05%
1 Yr 28.7% 6.5% 64.3% 28.95%
3 Yr 0.0%* -10.9% 24.4% 57.14%
5 Yr 7.1%* -1.4% 20.1% 48.48%
10 Yr 7.4%* 2.4% 13.0% 37.50%

* Annualized

Total Return Ranking - Calendar

Period MJFOX Return Category Return Low Category Return High Rank in Category (%)
2023 18.0% 2.0% 42.0% 57.89%
2022 -27.8% -32.8% 5.9% 91.89%
2021 -1.9% -15.1% 18.0% 70.59%
2020 29.8% -3.2% 34.7% 12.12%
2019 26.1% 7.7% 26.7% 12.50%

NAV & Total Return History


MJFOX - Holdings

Concentration Analysis

MJFOX Category Low Category High MJFOX % Rank
Net Assets 703 M 5.94 M 16.4 B 31.58%
Number of Holdings 43 27 1791 78.95%
Net Assets in Top 10 243 M 1.94 M 3.21 B 13.16%
Weighting of Top 10 36.94% 3.5% 101.6% 26.32%

Top 10 Holdings

  1. Shin-Etsu Chemical Co Ltd 5.57%
  2. Keyence Corp 4.84%
  3. Tokio Marine Holdings Inc 4.04%
  4. Sony Group Corp 3.89%
  5. Hitachi Ltd 3.71%
  6. Renesas Electronics Corp 3.38%
  7. Recruit Holdings Co Ltd 2.95%
  8. FUJIFILM Holdings Corp 2.90%
  9. Suzuki Motor Corp 2.85%
  10. Ajinomoto Co Inc 2.83%

Asset Allocation

Weighting Return Low Return High MJFOX % Rank
Stocks
97.18% 94.27% 104.16% 86.84%
Cash
2.82% 0.02% 8.41% 23.68%
Preferred Stocks
0.00% 0.00% 0.95% 10.53%
Other
0.00% -5.55% 0.02% 13.16%
Convertible Bonds
0.00% 0.00% 0.00% 2.63%
Bonds
0.00% 0.00% 0.05% 5.26%

MJFOX - Expenses

Operational Fees

MJFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.05% 0.09% 3.46% 26.32%
Management Fee 0.67% 0.09% 0.90% 52.63%
12b-1 Fee 0.00% 0.00% 1.00% 10.00%
Administrative Fee N/A 0.15% 0.20% 62.50%

Sales Fees

MJFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

MJFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% 6.25%

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.

MJFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 70.30% 2.95% 70.30% 96.97%

MJFOX - Distributions

Dividend Yield Analysis

MJFOX Category Low Category High MJFOX % Rank
Dividend Yield 0.00% 0.00% 21.23% 86.84%

Dividend Distribution Analysis

MJFOX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual SemiAnnual Annual

Net Income Ratio Analysis

MJFOX Category Low Category High MJFOX % Rank
Net Income Ratio 0.38% -0.63% 2.45% 71.05%

Capital Gain Distribution Analysis

MJFOX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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MJFOX - Fund Manager Analysis

Managers

Taizo Ishida


Start Date

Tenure

Tenure Rank

Sep 29, 2006

15.68

15.7%

Taizo Ishida is a Portfolio Manager at Matthews. He manages the firm’s Asia Growth, Emerging Asia, and Japan Strategies. Prior to joining Matthews in 2006, Taizo spent six years on the global and international teams at Wellington Management Company as a Vice President and Portfolio Manager. From 1997 to 2000, he was a Senior Securities Analyst and a member of the international investment team at USAA Investment Management Company. From 1990 to 1997, he was a Principal and Senior Research Analyst at Sanford Bernstein & Co.

Shuntaro Takeuchi


Start Date

Tenure

Tenure Rank

Jan 22, 2019

3.36

3.4%

Shuntaro Takeuchi is a Portfolio Manager at Matthews and co-manages the firm’s Japan Strategy. Prior to joining the firm in 2016 as a Senior Research Analyst, he was an Executive Director for Japan Equity Sales at UBS Securities LLC in New York. Beginning in 2003, he worked on both Japanese Equity and International Equity Sales at UBS Japan Securities, based in Tokyo, and held the position of Special Situations Analyst from 2006 to 2008, and Head of International Equity Sales from 2009 to 2013. Before that, he worked at Merrill Lynch Japan from 2001 to 2003 in U.S. Equity Sales. Shuntaro received a B.A. in Commerce and Management from Hitotsubashi University in Tokyo. He is fluent in Japanese. Shuntaro has been a Portfolio Manager of the Matthews Japan Fund since 2019.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 24.43 7.11 8.25