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MATTHEWS EMERGING MARKETS SUSTAINABLE FUTURE FUND

mutual fund
MISFX
Payout Change
Pending
Price as of:
$14.49 +0.31 +2.19%
primary theme
Asia Pacific ex-Japan Equity
share class
MISFX (Mutual Fund)

MATTHEWS EMERGING MARKETS SUSTAINABLE FUTURE FUND

Payout Change
Pending
Price as of:
$14.49 +0.31 +2.19%
primary theme
Asia Pacific ex-Japan Equity
share class
MISFX (Mutual Fund)

MATTHEWS EMERGING MARKETS SUSTAINABLE FUTURE FUND

Payout Change
Pending
Price as of:
$14.49 +0.31 +2.19%
primary theme
Asia Pacific ex-Japan Equity
share class

Name

As of 10/04/2024

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

$14.49

$220 M

1.84%

$0.27

1.10%

Vitals

YTD Return

15.5%

1 yr return

19.5%

3 Yr Avg Return

0.6%

5 Yr Avg Return

12.9%

Net Assets

$220 M

Holdings in Top 10

45.9%

52 WEEK LOW AND HIGH

$14.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.10%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 65.56%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/04/2024

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

$14.49

$220 M

1.84%

$0.27

1.10%

MISFX - Profile

Distributions

  • YTD Total Return 15.5%
  • 3 Yr Annualized Total Return 0.6%
  • 5 Yr Annualized Total Return 12.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.25%
DIVIDENDS
  • Dividend Yield 1.8%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    MATTHEWS EMERGING MARKETS SUSTAINABLE FUTURE FUND
  • Fund Family Name
    Matthews Asia Funds
  • Inception Date
    Apr 30, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Vivek Tanneeru

Fund Description

Under normal circumstances, the Matthews Emerging Markets Sustainable Future 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 of any market capitalization located in emerging market countries that satisfy one or more of the Fund’s environmental, social and governance (“ESG”) standards. Up to 20% of the Fund’s net assets may be invested in companies that do not satisfy these ESG standards. 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.
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.
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, and in convertible securities and fixed-income securities, of any duration or quality, including high yield securities (also known as “junk bonds”).
In implementing its strategy for this Fund, Matthews will use any one or more of the Fund’s following key ESG standards to evaluate potential investments: whether the issuer has adopted and followed (i) sustainable environmental practices, responsible resource management and energy efficiency practices, (ii) policies related to social responsibility, employee welfare, diversity and inclusion, or (iii) sound governance practices that align interests of shareholders and management and demonstrate a commitment to integration of sustainability or ESG considerations. Businesses that meet one or more of the Fund’s ESG standards are generally businesses that currently engage in practices or have business objectives that, in the judgment of Matthews, if continued to be followed or if successfully implemented would make human or business activity less destructive to the environment or businesses that promote positive environmental, social and economic developments. Matthews uses various sources of information, including
non‑governmental organizations (NGOs), primary research, and third-party data sources such as negative news monitoring services and ESG data and research providers, in analyzing whether a company satisfies the Fund’s ESG standards. However, it is Matthews’ determination, based on its own analysis, as to whether a company satisfies those standards and is eligible for investment by the Fund.
In addition to traditional financial data, the stock selection process takes into consideration the Fund’s ESG standards that help identify companies that Matthews believes contribute (or have the potential to contribute) to a sustainable future by addressing global environmental and social challenges. Matthews will use these standards to help identify companies that are contributing (or have the potential to contribute) to positive outcomes in environmental, social and governance focus areas including, for example, climate change mitigation and adaptation, clean environment (such as pollution alleviation), sustainable production and consumption (such as energy efficiency), health and well-being (such as food security), human capital developments (such as training and equality), sustainable and inclusive development, or corporate governance practices that demonstrate a strong commitment to the integration of the Fund’s ESG standards. Matthews will also employ a negative screening process using data and ratings from various third-party data providers and Matthews’ own internal analysis to exclude, in the ultimate determination of Matthews, companies that Matthews believes do not meet the Fund’s ESG standards. This screening process may use various thresholds based on the percentage of revenue derived from certain sectors, including (1) the production or sale of tobacco products, (2) controversial weapons (e.g., cluster munitions) or the production of or military contracting for weapons, and (3) the exploration, extraction, or production of energy using certain fossil fuels, including thermal coal. The screening process is also used to help Matthews exclude companies that are in severe breach of the goals of the UN Global Compact or the OECD Guidelines for Multinational Enterprises. The ESG characteristics used by Matthews to identify or exclude potential investments may change from time to time.
The Fund engages its portfolio companies on sustainability matters primarily through active dialogue and proxy voting, which will be voted according to the Fund’s ESG standards, and by encouraging enhanced ESG disclosure. 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’s primary focus is long-term capital appreciation. In achieving this objective, the Fund seeks to invest in companies that Matthews believes to be undervalued but of high quality and run by management teams with good operating and governance track records. 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.
The Fund may invest in the Matthews Emerging Markets Sustainable Future 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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MISFX - Performance

Return Ranking - Trailing

Period MISFX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.5% 2.3% 34.3% 69.39%
1 Yr 19.5% 3.3% 42.6% 81.63%
3 Yr 0.6%* -10.4% 8.2% 31.91%
5 Yr 12.9%* -0.6% 14.6% 6.52%
10 Yr N/A* 2.0% 9.6% N/A

* Annualized

Return Ranking - Calendar

Period MISFX Return Category Return Low Category Return High Rank in Category (%)
2023 0.3% -7.8% 14.0% 55.32%
2022 -18.7% -40.0% 2.8% 23.40%
2021 3.1% -44.2% 15.5% 6.52%
2020 34.9% -13.5% 83.8% 32.61%
2019 11.0% -3.3% 44.7% 80.43%

Total Return Ranking - Trailing

Period MISFX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.5% 2.3% 34.3% 69.39%
1 Yr 19.5% 3.3% 42.6% 81.63%
3 Yr 0.6%* -10.4% 8.2% 31.91%
5 Yr 12.9%* -0.6% 14.6% 6.52%
10 Yr N/A* 2.0% 9.6% N/A

* Annualized

Total Return Ranking - Calendar

Period MISFX Return Category Return Low Category Return High Rank in Category (%)
2023 8.0% -7.8% 20.1% 34.04%
2022 -14.3% -31.3% 5.2% 19.15%
2021 12.0% -21.3% 22.4% 6.52%
2020 43.1% -9.6% 87.0% 32.61%
2019 12.7% 8.4% 44.8% 89.13%

NAV & Total Return History


MISFX - Holdings

Concentration Analysis

MISFX Category Low Category High MISFX % Rank
Net Assets 220 M 1.68 M 4.44 B 57.14%
Number of Holdings 54 28 1572 55.10%
Net Assets in Top 10 111 M 1.87 M 2.13 B 55.10%
Weighting of Top 10 45.86% 19.8% 79.8% 51.02%

Top 10 Holdings

  1. Meituan 6.39%
  2. Bandhan Bank Ltd 6.27%
  3. Shriram Finance Ltd 5.97%
  4. Full Truck Alliance Co Ltd 5.35%
  5. Micron Technology Inc 4.01%
  6. JD Health International Inc 3.96%
  7. Legend Biotech Corp 3.96%
  8. Hong Kong Exchanges Clearing Ltd 3.69%
  9. Indus Towers Ltd 3.17%
  10. Samsung SDI Co Ltd 3.08%

Asset Allocation

Weighting Return Low Return High MISFX % Rank
Stocks
97.50% 0.00% 100.69% 48.98%
Preferred Stocks
3.08% 0.00% 3.08% 2.04%
Other
0.00% -0.01% 3.93% 69.39%
Convertible Bonds
0.00% 0.00% 6.14% 69.39%
Cash
0.00% 0.00% 10.80% 95.92%
Bonds
0.00% 0.00% 93.37% 69.39%

Stock Sector Breakdown

Weighting Return Low Return High MISFX % Rank
Financial Services
24.17% 7.86% 53.75% 28.57%
Technology
22.48% 0.00% 35.18% 51.02%
Industrials
21.09% 0.00% 28.54% 6.12%
Healthcare
11.21% 0.00% 11.60% 14.29%
Consumer Cyclical
8.74% 2.54% 30.22% 85.71%
Real Estate
8.13% 0.00% 16.03% 22.45%
Communication Services
2.45% 0.00% 16.87% 89.80%
Consumer Defense
1.74% 0.00% 15.16% 77.55%
Utilities
0.00% 0.00% 7.67% 85.71%
Energy
0.00% 0.00% 7.66% 79.59%
Basic Materials
0.00% 0.00% 24.13% 91.84%

Stock Geographic Breakdown

Weighting Return Low Return High MISFX % Rank
Non US
78.89% 0.00% 99.96% 63.27%
US
18.60% 0.00% 37.12% 34.69%

MISFX - Expenses

Operational Fees

MISFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.10% 0.19% 16.32% 55.10%
Management Fee 0.68% 0.19% 1.50% 34.69%
12b-1 Fee 0.00% 0.00% 1.00% 39.13%
Administrative Fee N/A 0.08% 0.15% 76.47%

Sales Fees

MISFX 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% 1.00% N/A

Trading Fees

MISFX 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.

MISFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 65.56% 9.00% 222.00% 59.52%

MISFX - Distributions

Dividend Yield Analysis

MISFX Category Low Category High MISFX % Rank
Dividend Yield 1.84% 0.00% 8.32% 6.12%

Dividend Distribution Analysis

MISFX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually SemiAnnual Annual

Net Income Ratio Analysis

MISFX Category Low Category High MISFX % Rank
Net Income Ratio -0.25% -1.41% 4.89% 63.27%

Capital Gain Distribution Analysis

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

Distributions History

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MISFX - Fund Manager Analysis

Managers

Vivek Tanneeru


Start Date

Tenure

Tenure Rank

Apr 30, 2015

7.09

7.1%

Vivek Tanneeru is a Portfolio Manager at Matthews Asia and manages the firm's Asia ESG and Asia Small Companies Strategies. Prior to joining Matthews Asia in 2011, Vivek was an Investment Manager on the Global Emerging Markets team of Pictet Asset Management in London. While at Pictet, he also worked on the firm's Global Equities team, managing Japan and Asia ex-Japan markets. Before earning his MBA from the London Business School in 2006, Vivek was a Business Systems Officer at The World Bank and served as a Consultant at Arthur Andersen Business Consulting and Citicorp Infotech Industries. He interned at Generation Investment Management while studying for his MBA Vivek received his Master's in Finance from the Birla Institute of Technology & Science in India. He is fluent in Hindi and Telugu. Vivek has been a Portfolio Manager of the Matthews Asia ESG Fund since its inception in 2015 and of the Asia Small Companies Fund since 2020.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 22.43 5.73 1.08