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Matthews Emerging Markets Equity Fund

mutual fund
MIEFX
Payout Change
Pending
Price as of:
$14.46 -0.18 -1.23%
primary theme
Emerging Markets Equity
share class
MIEFX (Mutual Fund)

Matthews Emerging Markets Equity Fund

Payout Change
Pending
Price as of:
$14.46 -0.18 -1.23%
primary theme
Emerging Markets Equity
share class
MIEFX (Mutual Fund)

Matthews Emerging Markets Equity Fund

Payout Change
Pending
Price as of:
$14.46 -0.18 -1.23%
primary theme
Emerging Markets Equity
share class

Name

As of 10/03/2024

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

$14.46

$21.7 M

1.73%

$0.25

1.51%

Vitals

YTD Return

22.1%

1 yr return

34.0%

3 Yr Avg Return

1.5%

5 Yr Avg Return

N/A

Net Assets

$21.7 M

Holdings in Top 10

37.0%

52 WEEK LOW AND HIGH

$14.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.51%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 88.45%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/03/2024

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

$14.46

$21.7 M

1.73%

$0.25

1.51%

MIEFX - Profile

Distributions

  • YTD Total Return 22.1%
  • 3 Yr Annualized Total Return 1.5%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.33%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Matthews Emerging Markets Equity Fund
  • Fund Family Name
    Matthews Asia Funds
  • Inception Date
    Apr 30, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Lech

Fund Description

Under normal circumstances, the Matthews Emerging Markets Equity 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 emerging market countries. Emerging market countries generally include every country in the world except the United States, Australia, Canada, Hong Kong, Israel, Japan, New Zealand, Singapore and most of the countries in Western Europe. 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. The list of emerging market countries and frontier market countries may change from time to time. The Fund may also invest in companies located in developed countries; however, the Fund may not invest in any company located in a developed country if, at the time of purchase, more than 20% of the Fund’s assets are invested in developed market companies. The Fund has concentrated its investments (meaning more than 25% of its assets) from time to time in a single country, including China.
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 emerging market (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 Emerging Markets Index, the Fund’s primary benchmark index; or (v) it is denominated in the currency of an emerging market 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 that are treated as emerging markets investments, 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. 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.
The Fund may invest in the Matthews Emerging Markets Equity Active ETF, a series of the Trust with a substantially similar investment strategy to the Fund, for cash equitization purposes, which allows the Fund to invest in a manner consistent with its investment strategy while managing daily cash flows, including purchases and redemptions by investors.
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MIEFX - Performance

Return Ranking - Trailing

Period MIEFX Return Category Return Low Category Return High Rank in Category (%)
YTD 22.1% -12.5% 37.0% 7.28%
1 Yr 34.0% -3.2% 48.3% 7.70%
3 Yr 1.5%* -12.0% 13.3% 28.86%
5 Yr N/A* -3.0% 12.7% N/A
10 Yr N/A* -2.5% 7.1% N/A

* Annualized

Return Ranking - Calendar

Period MIEFX Return Category Return Low Category Return High Rank in Category (%)
2023 6.4% -6.5% 35.5% 71.09%
2022 -22.4% -50.1% -2.4% 31.56%
2021 -9.1% -33.1% 22.5% 68.75%
2020 N/A -22.1% 80.1% N/A
2019 N/A -0.7% 42.0% N/A

Total Return Ranking - Trailing

Period MIEFX Return Category Return Low Category Return High Rank in Category (%)
YTD 22.1% -12.5% 37.0% 7.28%
1 Yr 34.0% -3.2% 48.3% 7.70%
3 Yr 1.5%* -12.0% 13.3% 28.86%
5 Yr N/A* -3.0% 12.7% N/A
10 Yr N/A* -2.5% 7.1% N/A

* Annualized

Total Return Ranking - Calendar

Period MIEFX Return Category Return Low Category Return High Rank in Category (%)
2023 8.6% -2.7% 42.0% 71.23%
2022 -20.8% -42.2% 1.9% 33.86%
2021 -0.4% -32.5% 33.1% 46.34%
2020 N/A -20.0% 81.6% N/A
2019 N/A 2.3% 42.0% N/A

NAV & Total Return History


MIEFX - Holdings

Concentration Analysis

MIEFX Category Low Category High MIEFX % Rank
Net Assets 21.7 M 682 K 103 B 90.52%
Number of Holdings 75 10 7534 68.34%
Net Assets in Top 10 7.94 M 290 K 23.8 B 90.24%
Weighting of Top 10 37.01% 2.9% 100.2% 41.20%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co Ltd 10.92%
  2. Samsung Electronics Co Ltd 5.61%
  3. Tencent Holdings Ltd 5.40%
  4. Reliance Industries Ltd 2.64%
  5. ICICI Bank Ltd 2.31%
  6. China Construction Bank Corp 2.12%
  7. Hyundai Motor Co 2.08%
  8. HDFC Bank Ltd 2.08%
  9. UltraTech Cement Ltd 1.95%
  10. Meituan 1.91%

Asset Allocation

Weighting Return Low Return High MIEFX % Rank
Stocks
91.83% 0.00% 107.82% 91.21%
Cash
8.17% -2.03% 16.88% 3.21%
Preferred Stocks
0.00% 0.00% 13.31% 85.91%
Other
0.00% -0.46% 26.93% 71.13%
Convertible Bonds
0.00% 0.00% 7.40% 67.28%
Bonds
0.00% 0.00% 88.10% 71.13%

Stock Sector Breakdown

Weighting Return Low Return High MIEFX % Rank
Technology
26.82% 0.00% 47.50% 23.87%
Financial Services
19.47% 0.00% 48.86% 64.69%
Consumer Cyclical
11.95% 0.00% 48.94% 52.12%
Basic Materials
10.60% 0.00% 30.03% 25.85%
Real Estate
7.65% 0.00% 17.15% 3.39%
Industrials
7.62% 0.00% 43.53% 28.81%
Consumer Defense
5.74% 0.00% 25.90% 60.88%
Energy
4.13% 0.00% 24.80% 53.11%
Communication Services
3.90% 0.00% 39.29% 88.28%
Healthcare
2.12% 0.00% 16.53% 77.26%
Utilities
0.00% 0.00% 39.12% 88.84%

Stock Geographic Breakdown

Weighting Return Low Return High MIEFX % Rank
Non US
76.02% 0.00% 101.28% 81.45%
US
15.81% 0.00% 100.13% 26.92%

MIEFX - Expenses

Operational Fees

MIEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.51% 0.03% 29.98% 38.88%
Management Fee 0.68% 0.00% 2.00% 20.95%
12b-1 Fee 0.00% 0.00% 1.00% 8.17%
Administrative Fee N/A 0.01% 0.85% N/A

Sales Fees

MIEFX 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

MIEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

MIEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 88.45% 0.00% 189.00% 84.42%

MIEFX - Distributions

Dividend Yield Analysis

MIEFX Category Low Category High MIEFX % Rank
Dividend Yield 1.73% 0.00% 9.74% 43.24%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MIEFX Category Low Category High MIEFX % Rank
Net Income Ratio 1.33% -1.98% 17.62% 32.13%

Capital Gain Distribution Analysis

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

Distributions History

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MIEFX - Fund Manager Analysis

Managers

John Lech


Start Date

Tenure

Tenure Rank

Apr 30, 2020

2.08

2.1%

John Paul Lech is a Portfolio Manager at Matthews. He manages the firm’s Emerging Markets Equity Strategy. Prior to joining the firm in 2018, he spent most of his 10 years at OppenheimerFunds as an Analyst and Portfolio Manager on a diversified emerging market equity strategy. John Paul started his career as an Analyst and Associate at Citigroup Global Markets, Inc. He is fluent in Spanish and conversational in French and Portuguese. John Paul earned both an M.A. and a B.S.F.S. from the Walsh School of Foreign Service at Georgetown University.

Alex Zarechnak


Start Date

Tenure

Tenure Rank

Apr 28, 2022

0.09

0.1%

Alex Zarechnak is a Portfolio Manager at Matthews Asia and co‑manages the firm’s Emerging Markets Equity Strategy. Prior to joining the firm in 2020, he spent a total of 15 years (1998 – 2006 and 2012 – 2019) at Wellington Management as an analyst for the firm’s flagship Emerging Markets Equity Fund as a generalist first covering CEEMEA, then Latin America. From 2006-2012, he was a regional equity analyst at Capital Group, covering Emerging Markets with a focus on energy, telecoms and consumer sectors in Latin America and CEEMEA. Alex began his Emerging Markets career as a Russia equity analyst with Templeton Emerging Markets, based in Moscow. He earned a B.A. in Economics and Government from the College of William and Mary. Alex is fluent in Russian. Alex has been a Portfolio Manager of the Matthews Emerging Markets Equity Fund since 2022.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.64 13.42