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MICFX Matthews China Instl

  • Fund
  • MICFX
  • Price as of: May 22, 2019
  • $16.26 - $0.09 - 0.55%
  • Category
  • China Equities

MICFX - Profile

Vitals

  • YTD Return 13.5%
  • 3 Yr Annualized Return 2.6%
  • 5 Yr Annualized Return -4.9%
  • Net Assets $904 M
  • Holdings in Top 10 54.2%

52 WEEK LOW AND HIGH

$16.26
$13.76
$25.01

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.91%

SALES FEES

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

BROKERAGE FEES

  • Turnover 96.98%

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 13.5%
  • 3 Yr Annualized Total Return 18.3%
  • 5 Yr Annualized Total Return 7.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.53%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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 Winnie Chwang

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 is 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 (%)
YTD 13.5% -16.2% 17.4% 6.52%
1 Yr -32.6% -48.4% -6.3% 91.30%
3 Yr 2.6%* -3.8% 14.8% 76.09%
5 Yr -4.9%* -11.6% 4.1% 80.43%
10 Yr N/A* -3.3% 6.0% N/A

* Annualized


Return Ranking - Calendar

Period MICFX Return Category Return Low Category Return High Rank in Category (%)
2018 -35.4% -52.1% -12.2% 91.30%
2017 43.6% 18.8% 58.1% 47.83%
2016 -16.0% -16.0% 4.0% 100.00%
2015 -14.2% -34.4% 1.0% 78.26%
2014 -6.0% -23.4% 14.5% 43.48%

Total Return Ranking - Trailing

Period MICFX Return Category Return Low Category Return High Rank in Category (%)
YTD 13.5% -16.2% 17.4% 6.52%
1 Yr -17.6% -48.4% -1.6% 43.48%
3 Yr 18.3%* -0.9% 19.6% 2.17%
5 Yr 7.7%* -11.6% 9.9% 10.87%
10 Yr N/A* -3.3% 10.3% N/A

* Annualized


Total Return Ranking - Calendar

Period MICFX Return Category Return Low Category Return High Rank in Category (%)
2018 -21.1% -52.1% -9.6% 60.87%
2017 59.4% 18.9% 65.8% 19.57%
2016 -4.9% -9.2% 5.3% 67.39%
2015 2.5% -34.4% 4.1% 4.35%
2014 -4.2% -14.8% 22.3% 80.43%

NAV & Total Return History

MICFX - Holdings

Concentration Analysis

MICFX Category Low Category High MICFX % Rank
Net Assets 904 M 12.7 M 1.29 B 15.22%
Number of Holdings 50 34 103 65.22%
Net Assets in Top 10 327 M 5.5 M 557 M 15.22%
Weighting of Top 10 54.16% 33.3% 68.2% 43.48%

Top 10 Holdings

  1. Tencent Holdings Ltd 10.73%

  2. Alibaba Group Holding Ltd ADR 10.47%

  3. Ping An Insurance (Group) Co. of China Ltd H 5.92%

  4. Agricultural Bank of China Ltd H 4.97%

  5. China Construction Bank Corp H 4.97%

  6. Industrial And Commercial Bank Of China Ltd H 4.96%

  7. New China Life Insurance Co Ltd H 4.36%

  8. China Resources Land Ltd 2.71%

  9. AIA Group Ltd 2.62%

  10. CIFI Holdings (Group) Co Ltd 2.44%


Asset Allocation

Weighting Return Low Return High MICFX % Rank
Stocks
101.47% 86.05% 101.47% 4.35%
Preferred Stocks
0.00% 0.00% 0.00% 84.78%
Other
0.00% -0.04% 13.95% 80.43%
Convertible Bonds
0.00% 0.00% 0.00% 84.78%
Bonds
0.00% -0.31% 0.40% 78.26%
Cash
-1.47% -1.47% 13.72% 100.00%

MICFX - Expenses

Operational Fees

MICFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.91% 0.91% 3.81% 100.00%
Management Fee 0.66% 0.66% 1.36% 4.35%
12b-1 Fee 0.00% 0.00% 1.00% 23.53%
Administrative Fee 0.14% 0.05% 0.26% 54.84%

Sales Fees

MICFX 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% 5.00% N/A

Trading Fees

MICFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.05% 2.00% 60.00%

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 Return Low Category Return High Rank in Category (%)
Turnover 96.98% 6.00% 131.00% 91.30%

MICFX - Distributions

Dividend Yield Analysis

MICFX Category Low Category High MICFX % Rank
Dividend Yield 0.02% 0.00% 0.02% 4.35%

Dividend Distribution Analysis

MICFX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Semi-Annually Annually

Dividend Payout History


Net Income Ratio Analysis

MICFX Category Low Category High MICFX % Rank
Net Income Ratio 1.53% -1.14% 2.54% 13.04%

Capital Gain Distribution Analysis

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

MICFX - Managers

Winnie Chwang

Manager

Start Date

Tenure

Tenure Rank

Apr 30, 2014

5.0

5.0%

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

Manager

Start Date

Tenure

Tenure Rank

Apr 30, 2015

4.0

4.0%

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

0.0

Category High

25.23

Category Average

6.38

Category Mode

10.33