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Name

As of 03/15/2023

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 Asia Total Return Bond Fund

MAINX | Fund

$9.20

$80 M

6.60%

$0.61

1.05%

Vitals

YTD Return

3.5%

1 yr return

3.3%

3 Yr Avg Return

-0.5%

5 Yr Avg Return

-3.5%

Net Assets

$80 M

Holdings in Top 10

44.3%

52 WEEK LOW AND HIGH

$9.2
$6.47
$9.72

Expenses

OPERATING FEES

Expense Ratio 1.05%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 62.17%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 03/15/2023

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 Asia Total Return Bond Fund

MAINX | Fund

$9.20

$80 M

6.60%

$0.61

1.05%

MAINX - Profile

Distributions

  • YTD Total Return 3.5%
  • 3 Yr Annualized Total Return -0.5%
  • 5 Yr Annualized Total Return -3.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.76%
DIVIDENDS
  • Dividend Yield 6.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Matthews Asia Total Return Bond Fund
  • Fund Family Name
    Matthews Asia Funds
  • Inception Date
    Nov 30, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Inv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Teresa Kong

Fund Description

Under normal circumstances, the Matthews Asia Total Return Bond Fund seeks to achieve its investment objective by investing at least 80% of its net assets, which include borrowings for investment purposes, in debt and debt-related instruments issued by governments, quasi-governmental entities, supra-national institutions, and companies in Asia. Debt and debt-related instruments are commonly referred to as bonds and typically include various types of bonds, debentures, bills, securitized debt instruments (which are vehicles backed by pools of assets such as loans or other receivables), notes, certificates of deposit and other bank obligations, bank loans, senior secured bank debt, convertible debt securities (including contingent capital financial instruments or “CoCos”), exchangeable bonds, credit-linked notes, inflation-linked debt instruments, repurchase agreements used to finance debt securities, payment‑in‑kind debt securities, preferred bonds and derivative instruments with debt characteristics. The Fund’s investments in debt securities may be denominated in any currency, may be of any quality or may be unrated, and may have no stated maturity or duration target.
Asia consists of all countries and markets in Asia, such as China and India, and includes 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 invest a significant portion of its total net assets, 25% or more, in securities of issuers from a single country (including the government of that country and its 
agencies, instrumentalities and political subdivisions, quasi-governmental entities of that country, supra-national institutions issuing debt deemed to be of that country, and companies located in that country), and up to 25% of the Fund’s total net assets may be invested in the securities issued by any one Asian government (including its agencies, instrumentalities and political subdivisions). The Fund has from time to time invested, and expects to invest, more than 25% of its assets in China (which includes Hong Kong and Macau). 
The Fund may engage in derivative transactions for speculative purposes as well as to manage credit, interest rate and currency exposures of underlying instruments or market exposures. The Fund may use a variety of derivative instruments, including for example, forward contracts, option contracts, futures and options on futures, swaps (including interest rate swaps and credit default swaps) and swaptions. The Fund may seek to take on or hedge credit, currency, and interest rate exposure by using derivatives, and, as a result, the Fund’s exposure to credit, currency, and interest rates could exceed the value of the Fund’s assets denominated in that currency and could exceed the value of the Fund’s net assets. Although the Fund does not limit its foreign currency exposure, may invest without limitation in non‑U.S. dollar-denominated securities and instruments and is permitted to hedge currency risks, it does not normally seek to hedge its exposure to foreign currencies. 
The Fund is permitted to invest in debt securities of any quality, including high yield debt securities rated below investment grade (commonly referred to as “junk bonds”) and unrated debt securities. The Fund may invest up to 50% of its net assets in bank loans. The Fund has no stated maturity or duration target and the average effective maturity or duration target may change. Matthews has implemented risk management systems to monitor the Fund to reduce the risk of loss through overemphasis on a particular issuer, country, industry, currency, or interest rate regime. 
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. 
Read More

MAINX - Performance

Return Ranking - Trailing

Period MAINX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.5% -4.9% 11.2% 3.12%
1 Yr 3.3% -9.8% 12.8% 1.16%
3 Yr -0.5%* -15.8% 1.9% 26.93%
5 Yr -3.5%* -18.6% 3.2% 21.48%
10 Yr -1.7%* -14.7% 6.5% 9.52%

* Annualized

Return Ranking - Calendar

Period MAINX Return Category Return Low Category Return High Rank in Category (%)
2023 -13.9% -58.7% 15.1% 20.12%
2022 -4.2% -12.8% 25.4% 56.50%
2021 0.4% -6.9% 3.9% 53.87%
2020 2.1% -19.2% 4.3% 50.16%
2019 -1.4% -7.2% 5.2% 17.57%

Total Return Ranking - Trailing

Period MAINX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.5% -19.8% 8.9% 3.12%
1 Yr 3.3% -21.4% 12.8% 1.16%
3 Yr -0.5%* -15.8% 5.1% 26.93%
5 Yr -3.4%* -18.6% 4.3% 18.12%
10 Yr 0.2%* -14.7% 10.5% 9.52%

* Annualized

Total Return Ranking - Calendar

Period MAINX Return Category Return Low Category Return High Rank in Category (%)
2023 -13.9% -58.7% 15.1% 20.41%
2022 -4.2% -12.8% 25.4% 56.50%
2021 0.4% -6.9% 3.9% 53.87%
2020 2.1% -19.2% 4.3% 53.63%
2019 -1.0% -7.2% 5.2% 11.82%

NAV & Total Return History

MAINX - Holdings

Concentration Analysis

MAINX Category Low Category High MAINX % Rank
Net Assets 80 M 49.1 K 14.8 B 60.28%
Number of Holdings 73 4 2121 89.68%
Net Assets in Top 10 39 M -134 M 1.25 B 51.00%
Weighting of Top 10 44.32% 2.2% 95.0% 10.17%

Top 10 Holdings

  1. China Development Bank 3.8% 5.63%
  2. Wanda Properties International Co Ltd. 7.25% 5.25%
  3. FRANSHION BRILLIANT LTD 5.02%
  4. FRANSHION BRILLIANT LTD 5.02%
  5. FRANSHION BRILLIANT LTD 5.02%
  6. FRANSHION BRILLIANT LTD 5.02%
  7. FRANSHION BRILLIANT LTD 5.02%
  8. FRANSHION BRILLIANT LTD 5.02%
  9. FRANSHION BRILLIANT LTD 5.02%
  10. FRANSHION BRILLIANT LTD 5.02%

Asset Allocation

Weighting Return Low Return High MAINX % Rank
Bonds 		72.38% -0.02% 116.66% 97.42%
Convertible Bonds 		26.58% 0.00% 8.47% 0.29%
Cash 		1.04% -16.66% 101.67% 85.67%
Stocks 		0.00% -0.47% 2.07% 33.81%
Preferred Stocks 		0.00% 0.00% 0.00% 10.89%
Other 		0.00% -3.28% 3.53% 16.33%

MAINX - Expenses

Operational Fees

MAINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.05% 0.17% 43.25% 40.40%
Management Fee 0.55% 0.00% 1.10% 19.66%
12b-1 Fee 0.00% 0.00% 1.00% 5.49%
Administrative Fee 0.14% 0.02% 0.65% 57.98%

Sales Fees

MAINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MAINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% 7.37%

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.

MAINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 62.17% 0.00% 218.00% 60.46%

MAINX - Distributions

Dividend Yield Analysis

MAINX Category Low Category High MAINX % Rank
Dividend Yield 6.60% 0.00% 28.39% 84.27%

Dividend Distribution Analysis

MAINX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

MAINX Category Low Category High MAINX % Rank
Net Income Ratio 3.76% -2.28% 9.04% 65.60%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MAINX - Fund Manager Analysis

Managers

Teresa Kong

Start Date

Tenure

Tenure Rank

Nov 30, 2011

10.51

10.5%

Teresa Kong is a Portfolio Manager at Matthews International Capital Management, LLC. Prior to joining Matthews in 2010, she was Head of Emerging Market Investments at Barclays Global Investors, now known as BlackRock, and responsible for managing the firm’s investment strategies in Emerging Asia, Eastern Europe, Africa and Latin America. She developed and managed strategies spanning absolute return, active long-only and exchange-traded funds. In addition to founding the Fixed Income Emerging Markets Group at BlackRock, she was also Senior Portfolio Manager and Credit Strategist on the Fixed Income credit team. Previously, Teresa was a Senior Securities Analyst in the High Yield Group with Oppenheimer Funds, and began her career with JP Morgan Securities Inc., where she worked in the Structured Products Group and Latin America Capital Markets Group. She received both a B.A. in Economics and Political Science and an M.A. in International Development Policies from Stanford University. She speaks Cantonese fluently and is conversational in Mandarin.

Satya Patel

Start Date

Tenure

Tenure Rank

Apr 30, 2014

8.09

8.1%

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.

Wei Zhang

Start Date

Tenure

Tenure Rank

Apr 30, 2018

4.09

4.1%

Wei Zhang is a Portfolio Manager at Matthews International Capital Management, LLC. Prior to joining the firm in 2015, he earned an M.B.A. from Columbia University. From 2008 to 2012, Wei worked as an analyst at Bluecrest Capital Management, evaluating fundamental investments in equity and credit, with a focus on industrials, basic materials and energy sector opportunities. From 2007 to 2008, he was also an analyst with GF Capital Management, where he performed in-depth fundamental research, built and maintained financial models and participated in acquisition contact negotiations. He started his career as an analyst at Sowood Capital Management in 2006. Wei received a B.S. in Finance and International Business from the Leonard N. Stern School of Business at New York University. He is fluent in Mandarin.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.87 6.34 6.11

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