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MICDX Matthews China Dividend Instl

  • Fund
  • MICDX
  • Price as of: Jun 05, 2019
  • $15.54 - $0.04 - 0.26%
  • Category
  • Total Dividend

MICDX - Profile

Vitals

  • YTD Return 8.5%
  • 3 Yr Annualized Return 4.1%
  • 5 Yr Annualized Return 3.0%
  • Net Assets $384 M
  • Holdings in Top 10 32.2%

52 WEEK LOW AND HIGH

$15.54
$13.94
$19.31

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.01%

SALES FEES

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

BROKERAGE FEES

  • Turnover 66.47%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$100,000

IRA

$100,000

Investment Themes

CATEGORY

Total Dividend
  • Fund Type Open End Mutual Fund
  • Investment Style China Region

Distributions

  • YTD Total Return 8.5%
  • 3 Yr Annualized Total Return 12.6%
  • 5 Yr Annualized Total Return 10.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.44%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name Matthews China Dividend 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 Yu 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 dividend-paying equity securities of companies located in China. It may also invest in convertible debt and equity securities of any maturity and quality, including those that are unrated, or would be below investment grade if rated, of companies located in China. China also includes its administrative and other districts, such as Hong Kong.

MICDX - Performance

Return Ranking - Trailing

Period MICDX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.5% -5.8% 20.1% 77.19%
1 Yr -19.6% -46.0% 14.1% 90.94%
3 Yr 4.1%* -18.4% 11.4% 23.47%
5 Yr 3.0%* -11.8% 7.3% 14.72%
10 Yr N/A* -5.9% 10.7% N/A

* Annualized


Return Ranking - Calendar

Period MICDX Return Category Return Low Category Return High Rank in Category (%)
2018 -18.7% -51.6% 0.0% 78.98%
2017 25.0% -14.6% 32.9% 1.61%
2016 2.2% -13.3% 31.0% 83.44%
2015 3.1% -27.5% 3.6% 2.60%
2014 -2.7% -34.1% 14.2% 75.69%

Total Return Ranking - Trailing

Period MICDX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.5% -5.8% 20.1% 76.88%
1 Yr -10.8% -33.4% 15.1% 87.50%
3 Yr 12.6%* -11.5% 12.9% 1.29%
5 Yr 10.2%* -9.2% 21.2% 0.67%
10 Yr N/A* -5.9% 17.8% N/A

* Annualized


Total Return Ranking - Calendar

Period MICDX Return Category Return Low Category Return High Rank in Category (%)
2018 -9.8% -32.1% 0.3% 45.86%
2017 37.7% -14.6% 37.7% 0.32%
2016 5.9% -12.1% 31.0% 71.75%
2015 9.7% -21.8% 106.5% 0.65%
2014 1.1% -34.1% 20.9% 72.22%

NAV & Total Return History

MICDX - Holdings

Concentration Analysis

MICDX Category Low Category High MICDX % Rank
Net Assets 384 M 4.55 M 42.8 B 54.52%
Number of Holdings 58 8 1932 68.54%
Net Assets in Top 10 84.9 M 1.32 M 14.7 B 59.19%
Weighting of Top 10 32.17% 5.8% 99.7% 31.78%

Top 10 Holdings

  1. Citic Telecom International Holdings Ltd 4.04%

  2. HKBN Ltd 3.83%

  3. Tencent Holdings Ltd 3.68%

  4. China Resources Power Holdings Co Ltd 3.28%

  5. HSBC Holdings PLC 3.09%

  6. China Mobile Ltd ADR 3.08%

  7. Bank Of China Ltd H 2.85%

  8. WH Group Ltd 2.84%

  9. China Petroleum & Chemical Corp H Shares 2.76%

  10. Inner Mongolia Yili Industrial Group Co Ltd 2.72%


Asset Allocation

Weighting Return Low Return High MICDX % Rank
Stocks
100.88% 0.00% 101.34% 2.80%
Convertible Bonds
0.07% 0.00% 13.05% 12.46%
Preferred Stocks
0.00% 0.00% 13.37% 70.72%
Other
0.00% -0.42% 2.26% 67.91%
Bonds
0.00% 0.00% 99.69% 70.09%
Cash
-0.95% -18.07% 25.16% 96.57%

Stock Sector Breakdown

Weighting Return Low Return High MICDX % Rank
Consumer Cyclical
17.09% 0.00% 34.22% 4.69%
Industrials
12.85% 0.00% 28.19% 32.50%
Financial Services
12.65% 0.00% 29.45% 65.94%
Consumer Defense
12.65% 0.00% 27.68% 31.25%
Technology
12.34% 0.00% 29.93% 46.88%
Communication Services
10.95% 0.00% 20.26% 7.19%
Real Estate
6.60% 0.00% 16.79% 15.31%
Utilities
5.20% 0.00% 40.81% 41.25%
Energy
4.45% 0.00% 19.74% 81.25%
Healthcare
4.31% 0.00% 23.25% 90.31%
Basic Materials
1.78% 0.00% 17.96% 72.50%

Stock Geographic Breakdown

Weighting Return Low Return High MICDX % Rank
Non US
98.04% 0.00% 101.08% 4.98%
US
2.84% 0.00% 100.44% 93.77%

MICDX - Expenses

Operational Fees

MICDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.01% 0.08% 5.53% 67.50%
Management Fee 0.66% 0.07% 1.25% 46.11%
12b-1 Fee 0.00% 0.00% 1.00% 13.24%
Administrative Fee 0.14% 0.01% 0.40% 71.03%

Sales Fees

MICDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MICDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 50.94%

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.

MICDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 66.47% 1.63% 307.00% 77.26%

MICDX - Distributions

Dividend Yield Analysis

MICDX Category Low Category High MICDX % Rank
Dividend Yield 0.02% 0.00% 0.31% 24.92%

Dividend Distribution Analysis

MICDX Category Low Category High Category Mode
Dividend Distribution Frequency Semi-Annually Quarterly Monthly Quarterly

Dividend Payout History


Net Income Ratio Analysis

MICDX Category Low Category High MICDX % Rank
Net Income Ratio 2.44% -0.63% 5.00% 24.38%

Capital Gain Distribution Analysis

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

MICDX - Managers

Yu Zhang

Manager

Start Date

Tenure

Tenure Rank

Apr 27, 2012

7.1

7.1%

Yu Zhang is a Portfolio Manager at Matthews. Prior to joining the firm in 2007 as a Research Associate, Yu was an Analyst researching Japanese companies at Aperta Asset Management from 2005 to 2007. Before receiving a graduate degree in the U.S., he was an Associate in the Ningo, China office of Mitsui & Co., a Japanese general trading firm. Yu received a B.A. in English Language from the Beijing Foreign Studies University, an M.B.A. from Suffolk University and an M.S. in Finance from Boston College. He is fluent in Mandarin.


Sherwood Zhang

Manager

Start Date

Tenure

Tenure Rank

Apr 30, 2014

5.09

5.1%

Sherwood Zhang is a Portfolio Manager at Matthews. Prior to joining the firm in 2011, Sherwood was an analyst at Passport Capital from 2007 to 2010, where he focused on such industries as property and basic materials in China as well as consumer-related sectors. Before earning his M.B.A. in 2007, Sherwood served as a Senior Treasury Officer for Hang Seng Bank in Shanghai and Hong Kong, and worked as a Foreign Exchange Trader at Shanghai Pudong Development Bank in Shanghai. He received his M.B.A. from the University of Maryland and his Bachelor of Economics in Finance from Shanghai University. Sherwood is fluent in Mandarin and speaks conversational Cantonese.


S. Joyce Li

Manager

Start Date

Tenure

Tenure Rank

Apr 30, 2019

0.08

0.1%

S. Joyce Li is a Portfolio Manager at Matthews. Prior to joining the firm in 2016 as a Senior Research Analyst, she was a Portfolio Manager and Principal at Marvin & Palmer Associates, where she co-managed equity investments in the Asia Pacific markets between 2007 and 2016. Joyce started her investment career as a Senior Investment Associate at Wilmington Trust. Prior to joining Marvin & Palmer, she worked for Wilmington Trust Investment Management as an Investment Associate.  Joyce received an M.B.A. with honors from the Wharton School of the University of Pennsylvania, a M.S. in Computer Science from the University of Virginia and a B.E. from Beijing University of Posts and Telecommunications.  She is a CFA charterholder and has been a board director of the CFA Society of Philadelphia since 2006.


Tenure Analysis

Category Low

0.0

Category High

25.85

Category Average

6.26

Category Mode

0.0