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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$13.89

$944 M

1.89%

$0.26

1.07%

Vitals

YTD Return

11.1%

1 yr return

-11.3%

3 Yr Avg Return

-3.6%

5 Yr Avg Return

-5.2%

Net Assets

$944 M

Holdings in Top 10

34.8%

52 WEEK LOW AND HIGH

$13.8
$11.05
$16.29

Expenses

OPERATING FEES

Expense Ratio 1.07%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 37.85%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$13.89

$944 M

1.89%

$0.26

1.07%

MACSX - Profile

Distributions

  • YTD Total Return 11.1%
  • 3 Yr Annualized Total Return -3.6%
  • 5 Yr Annualized Total Return -3.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.91%
DIVIDENDS
  • Dividend Yield 1.9%
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name
    Matthews Asian Growth and Income Fund
  • Fund Family Name
    Matthews Asia Funds
  • Inception Date
    Sep 12, 1994
  • Shares Outstanding
    N/A
  • Share Class
    Inv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Robert Horrocks

Fund Description

Under normal circumstances, the Matthews Asian Growth and Income Fund seeks to achieve its investment objective by investing at least 80% of its net assets, which include borrowings for investment purposes, in dividend-paying common stock, preferred stock and other equity securities, and convertible securities as well as fixed-income securities, of any duration or quality, including high yield securities (also known as “junk bonds”), of companies located in Asia, which consists of all countries and markets in Asia, including developed, emerging, and frontier countries and markets in the Asian region. Certain emerging market countries may also be classified as “frontier” market countries, which are a subset of emerging market countries with newer or even less developed economies and markets, such as Sri Lanka and Vietnam. 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 with significant assets or operations in that country or region; (iii) it is principally secured or backed by assets located in that country or region; (iv) it is a component of or its issuer is included in a recognized securities index for the country or region; 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 attempts to offer investors a relatively stable means of participating in a portion of the Asian region’s growth prospects, while providing some downside protection, in comparison to a portfolio that invests purely in common stocks. The strategy of owning convertible bonds and dividend-paying equities is designed to help the Fund to meet its investment objective while helping to reduce the volatility of its portfolio. Matthews expects that the companies in which the Fund invests typically will be of medium or large size, but the Fund may invest in companies of any size. 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. 
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MACSX - Performance

Return Ranking - Trailing

Period MACSX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.1% -23.2% 18.7% 54.24%
1 Yr -11.3% -35.7% 11.2% 74.14%
3 Yr -3.6%* -17.1% 10.9% 72.22%
5 Yr -5.2%* -12.4% 6.4% 82.00%
10 Yr -3.0%* -4.5% 7.7% 94.29%

* Annualized

Return Ranking - Calendar

Period MACSX Return Category Return Low Category Return High Rank in Category (%)
2022 -22.2% -40.0% 5.2% 42.86%
2021 -5.6% -25.3% 7.5% 28.30%
2020 4.7% -3.3% 22.5% 92.45%
2019 3.1% -0.8% 9.7% 77.36%
2018 -4.4% -7.5% -0.7% 58.33%

Total Return Ranking - Trailing

Period MACSX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.1% -23.2% 18.7% 54.24%
1 Yr -11.3% -35.7% 11.2% 74.14%
3 Yr -3.6%* -17.1% 10.9% 72.22%
5 Yr -3.1%* -12.4% 6.4% 66.00%
10 Yr 0.8%* 0.7% 7.7% 91.43%

* Annualized

Total Return Ranking - Calendar

Period MACSX Return Category Return Low Category Return High Rank in Category (%)
2022 -22.2% -40.0% 5.2% 42.86%
2021 -5.6% -25.3% 7.5% 28.30%
2020 4.7% -3.3% 22.5% 92.45%
2019 3.1% -0.8% 9.7% 77.36%
2018 -2.3% -4.8% -0.7% 16.67%

NAV & Total Return History


MACSX - Holdings

Concentration Analysis

MACSX Category Low Category High MACSX % Rank
Net Assets 944 M 3.84 M 5.61 B 20.34%
Number of Holdings 57 35 1746 61.02%
Net Assets in Top 10 347 M 1.26 M 2.16 B 23.73%
Weighting of Top 10 34.76% 17.7% 60.0% 79.66%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co Ltd 8.13%
  2. Taiwan Semiconductor Manufacturing Co Ltd 8.13%
  3. Taiwan Semiconductor Manufacturing Co Ltd 8.13%
  4. Taiwan Semiconductor Manufacturing Co Ltd 8.13%
  5. Taiwan Semiconductor Manufacturing Co Ltd 8.13%
  6. Taiwan Semiconductor Manufacturing Co Ltd 8.13%
  7. Taiwan Semiconductor Manufacturing Co Ltd 8.13%
  8. Taiwan Semiconductor Manufacturing Co Ltd 8.13%
  9. Taiwan Semiconductor Manufacturing Co Ltd 8.13%
  10. Taiwan Semiconductor Manufacturing Co Ltd 8.13%

Asset Allocation

Weighting Return Low Return High MACSX % Rank
Stocks
85.15% 85.15% 99.81% 100.00%
Convertible Bonds
6.14% 0.00% 6.14% 3.39%
Cash
4.56% 0.13% 8.24% 37.29%
Other
4.15% 0.00% 4.15% 3.39%
Preferred Stocks
0.00% 0.00% 0.01% 62.71%
Bonds
0.00% 0.00% 0.01% 62.71%

Stock Sector Breakdown

Weighting Return Low Return High MACSX % Rank
Technology
23.88% 0.00% 35.18% 49.15%
Financial Services
18.23% 7.86% 53.75% 59.32%
Consumer Cyclical
17.90% 2.54% 30.22% 38.98%
Industrials
10.49% 0.00% 28.54% 23.73%
Communication Services
9.95% 0.00% 19.04% 50.85%
Consumer Defense
7.44% 0.00% 15.16% 25.42%
Real Estate
6.61% 0.00% 16.03% 35.59%
Utilities
2.09% 0.00% 7.67% 40.68%
Healthcare
1.93% 0.00% 20.44% 83.05%
Basic Materials
1.47% 0.00% 24.13% 49.15%
Energy
0.00% 0.00% 7.66% 81.36%

Stock Geographic Breakdown

Weighting Return Low Return High MACSX % Rank
Non US
83.17% 83.17% 99.70% 100.00%
US
1.98% 0.00% 7.68% 27.12%

MACSX - Expenses

Operational Fees

MACSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.07% 0.19% 2.14% 48.28%
Management Fee 0.66% 0.19% 1.00% 28.81%
12b-1 Fee 0.00% 0.00% 1.00% 32.14%
Administrative Fee N/A 0.08% 0.25% 70.59%

Sales Fees

MACSX 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

MACSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% 47.73%

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.

MACSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.85% 9.00% 222.00% 29.41%

MACSX - Distributions

Dividend Yield Analysis

MACSX Category Low Category High MACSX % Rank
Dividend Yield 1.89% 0.00% 6.71% 30.51%

Dividend Distribution Analysis

MACSX Category Low Category High Category Mod
Dividend Distribution Frequency Semi-Annually Annually Quarterly Quarterly

Net Income Ratio Analysis

MACSX Category Low Category High MACSX % Rank
Net Income Ratio 0.91% -1.41% 4.89% 24.14%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MACSX - Fund Manager Analysis

Managers

Robert Horrocks


Start Date

Tenure

Tenure Rank

Apr 29, 2009

13.1

13.1%

Robert Horrocks is Chief Investment Officer and a Portfolio Manager at Matthews and has been a Matthews Asia Funds Trustee since 2018. He manages the firm’s Asian Growth and Income Strategy and co-manages the Asia Dividend and Asia ex Japan Dividend Strategies. As Chief Investment Officer, Robert oversees the firm’s investment process and investment professionals and sets the research agenda for the investment team.Before joining Matthews in August 2008, Robert was Head of Research at Mirae Asset Management in Hong Kong.

Kenneth Lowe


Start Date

Tenure

Tenure Rank

Dec 19, 2011

10.45

10.5%

Kenneth Lowe is a Portfolio Manager at Matthews and manages the firm’s Asian Growth and Income Strategy. Prior to joining Matthews in 2010, he was an Investment Manager on the Asia and Global Emerging Market Equities Team at Martin Currie Investment Management in Edinburgh, Scotland. Kenneth received an M.A. in Mathematics and Economics from the University of Glasgow. Kenneth has been a Portfolio Manager of the Matthews Asian Growth and Income Fund since 2011.

Satya Patel


Start Date

Tenure

Tenure Rank

Aug 31, 2020

1.75

1.8%

Satya Patel is a Portfolio Manager at Matthews. Prior to joining the firm in 2011, Satya was an Investment Analyst with Concerto Asset Management. He earned his M.B.A. from the University of Chicago Booth School of Business in 2010. In 2009, Satya worked as an Investment Associate in Private Placements for Metlife Investments and from 2006 to 2008, he was an Associate in Credit Hedge Fund Sales for Deutsche Bank in London. He holds a Master’s in Accounting and Finance from the London School of Economics and a B.A. in Business Administration and Public Health from the University of Georgia.

Siddharth Bhargava


Start Date

Tenure

Tenure Rank

Apr 30, 2021

1.08

1.1%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 22.43 4.66 0.25