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Name

As of 11/15/2024

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 INDIA FUND

MIDNX | Fund

$29.51

$827 M

1.81%

$0.54

1.01%

Vitals

YTD Return

9.5%

1 yr return

16.3%

3 Yr Avg Return

1.8%

5 Yr Avg Return

8.8%

Net Assets

$827 M

Holdings in Top 10

39.5%

52 WEEK LOW AND HIGH

$29.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.01%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 42.50%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/15/2024

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 INDIA FUND

MIDNX | Fund

$29.51

$827 M

1.81%

$0.54

1.01%

MIDNX - Profile

Distributions

  • YTD Total Return 9.5%
  • 3 Yr Annualized Total Return 1.8%
  • 5 Yr Annualized Total Return 8.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.19%
DIVIDENDS
  • Dividend Yield 1.8%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    MATTHEWS INDIA FUND
  • Fund Family Name
    Matthews Asia Funds
  • Inception Date
    Oct 29, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Sharat Shroff

Fund Description

Under normal circumstances, the Matthews India Fund seeks to achieve its investment objective by investing at least 80% of its net assets, which include borrowings for investment purposes, in common stocks, preferred stocks and convertible securities, of any duration or quality, including those that are unrated, or would be below investment grade (referred to as “junk bonds”) if rated, of companies located in India. 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 India 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. While the Fund may invest in companies across the market capitalization spectrum, it has in the past invested, and may continue to invest, a substantial portion of Fund assets in smaller companies. 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.
Read More

MIDNX - Performance

Return Ranking - Trailing

Period MIDNX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.5% 4.4% 22.5% 59.09%
1 Yr 16.3% 13.3% 24.7% 72.73%
3 Yr 1.8%* -10.0% 8.9% 77.27%
5 Yr 8.8%* -3.7% 18.4% 86.36%
10 Yr 6.3%* 0.3% 11.2% 78.95%

* Annualized

Return Ranking - Calendar

Period MIDNX Return Category Return Low Category Return High Rank in Category (%)
2023 19.5% 8.3% 34.8% 36.36%
2022 -21.3% -36.8% -8.6% 59.09%
2021 7.5% 2.1% 42.6% 90.91%
2020 13.2% -0.5% 17.9% 72.73%
2019 -11.3% -22.6% 13.6% 86.36%

Total Return Ranking - Trailing

Period MIDNX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.5% 4.4% 22.5% 59.09%
1 Yr 16.3% 13.3% 24.7% 72.73%
3 Yr 1.8%* -10.0% 8.9% 77.27%
5 Yr 8.8%* -3.7% 18.4% 86.36%
10 Yr 6.3%* 0.3% 11.2% 78.95%

* Annualized

Total Return Ranking - Calendar

Period MIDNX Return Category Return Low Category Return High Rank in Category (%)
2023 23.3% 8.3% 36.1% 27.27%
2022 -9.8% -30.6% -3.4% 36.36%
2021 7.5% 2.1% 44.5% 90.91%
2020 16.7% -0.3% 19.6% 40.91%
2019 -0.8% -21.6% 13.9% 81.82%

NAV & Total Return History

MIDNX - Holdings

Concentration Analysis

MIDNX Category Low Category High MIDNX % Rank
Net Assets 827 M 137 M 9.1 B 27.27%
Number of Holdings 78 31 500 36.36%
Net Assets in Top 10 364 M 51.7 M 4.01 B 36.36%
Weighting of Top 10 39.54% 10.2% 66.0% 72.73%

Top 10 Holdings

  1. Reliance Industries Ltd 7.01%
  2. HDFC Bank Ltd 5.60%
  3. ICICI Bank Ltd 5.37%
  4. Shriram Finance Ltd 4.94%
  5. Infosys Ltd 4.38%
  6. Tata Consultancy Services Ltd 2.79%
  7. Bharti Airtel Ltd 2.51%
  8. Axis Bank Ltd 2.39%
  9. IndusInd Bank Ltd 2.36%
  10. Bajaj Finance Ltd 2.19%

Asset Allocation

Weighting Return Low Return High MIDNX % Rank
Stocks 		103.27% 96.62% 105.18% 18.18%
Preferred Stocks 		0.00% 0.00% 0.00% 31.82%
Other 		0.00% 0.00% 0.02% 45.45%
Convertible Bonds 		0.00% 0.00% 0.00% 27.27%
Cash 		0.00% 0.00% 3.38% 77.27%
Bonds 		0.00% 0.00% 0.00% 27.27%

MIDNX - Expenses

Operational Fees

MIDNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.01% 0.19% 2.30% 59.09%
Management Fee 0.68% 0.19% 1.25% 40.91%
12b-1 Fee 0.00% 0.00% 1.00% 30.00%
Administrative Fee N/A 0.08% 0.20% 16.67%

Sales Fees

MIDNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 5.25% 5.50% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

MIDNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% 50.00%

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.

MIDNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 42.50% 10.73% 67.00% 85.71%

MIDNX - Distributions

Dividend Yield Analysis

MIDNX Category Low Category High MIDNX % Rank
Dividend Yield 1.81% 0.00% 5.79% 18.18%

Dividend Distribution Analysis

MIDNX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

MIDNX Category Low Category High MIDNX % Rank
Net Income Ratio -0.19% -1.69% 1.15% 54.55%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MIDNX - Fund Manager Analysis

Managers

Sharat Shroff

Start Date

Tenure

Tenure Rank

Jun 26, 2006

15.94

15.9%

Sharat Shroff is a Portfolio Manager at Matthews and manages the firm’s Pacific Tiger Strategy and co-manages the India Strategy. Prior to joining the Matthews in 2005 as a Research Analyst, Sharat worked in the San Francisco and Hong Kong offices of Morgan Stanley as an Equity Research Associate. Sharat received a Bachelor of Technology from the Institute of Technology in Varanasi, India and an M.B.A. from the Indian Institute of Management, in Calcutta, India. He is fluent in Hindi and Bengali. Sharat has been a Portfolio Manager of the Matthews Pacific Tiger Fund since 2008 and of the Matthews India Fund since 2006.

Peeyush Mittal

Start Date

Tenure

Tenure Rank

Apr 30, 2018

4.09

4.1%

Peeyush Mittal is a Portfolio Manager at Matthews and co-manages the firm’s India Strategy. Prior to joining the firm in 2015, he spent over three years at Franklin Templeton Asset Management India, most recently as a Senior Research Analyst. Previously, he was with Deutsche Asset & Wealth Management New York, from 2009 to 2011, researching U.S. and European stocks in the industrials and materials sectors. Peeyush began his career in 2003 with Scot Forge as an Industrial Engineer, and was responsible for implementing Lean Manufacturing systems on the production shop floor. Peeyush earned his M.B.A from The University of Chicago Booth School of Business. He received a Master of Science in Industrial Engineering from The Ohio State University and received a Bachelor of Technology in Metallurgical Engineering from The Indian Institute of Technology Madras. He is fluent in Hindi.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.41 21.34 9.91 11.3

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