Matthews Asian Growth & Income Investor Fund (MACSX)

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As part of international stock fund, Matthews Asian Growth & Income fund is among top rated mutual fund in Pacific / Asia Ex-Japan Stock category. Details about this Matthews fund review is described below.

Asia Pacific or APAC is another major economy region in the world. Major developed countries and emerging markets countries lay in this region. These APAC countries are Japan, Singapore, South Korea, China, Taiwan, Indonesia, Malaysia, Thailand, Australia, Vietnam, and more.

Matthews Asian Growth & Income Investor (MUTF: MACSX)

The Matthews Asian Growth & Income Investor investment objective is to seek long-term appreciation of capital and current income. The fund mainly invests majority of total net assets (>80%) in dividend-paying common stock, preferred stock and other equity securities and convertible securities, of any duration or quality, of companies located in Asia. These companies typically are located in China, Hong Kong, India, Indonesia, Japan, Malaysia, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, and Vietnam.

MACSX Fund Details
Matthews Asian Growth & Income Investor Fund (MACSX)
Matthews MACSX fund details
  • Fund Inception Date: September 1994
  • Ticker Symbol: MACSX
  • CUSIP: 577130842
  • Beta (3yr): 0.70
  • Rank in category (YTD): 59
  • Category: Pacific/ Asia ex-Japan Stock
  • Distribution: 2.53%
  • Capital Gains: N/A
  • Number of Years Up: 14 years
  • Number of Years Down: 2 years
  • Total Net Assets: $3.86 billion
Updated on July 18th, 2011

This Matthews fund is managed by Andrew J. Foster since January 2005. The annual expense ratio of this fund is 1.13% which is lower than the category average (1.78%). This class was incepted in October 2010. The portfolio turnover of this fund is 19.84%. The fund current yield is 3% for the past 12 months. The investment style is categorized as Large Value. As part of no load fund, this Matthews fund doesn’t have a front end sales load or a deferred sales load. It also has a total net assets of $3.86 billion.

This MACSX fund has returned 22.99% over the past one year and 10.35% over the past three years. The best quarter for the annual returns was in second quarter of 2009 which is 21.57%. And the worst quarter was in fourth quarter of 2008 which is -14.41%.

Currently there are 87 brokerages which investors can select to purchase MACSX fund. These brokerages include Merrill Lynch, JP Morgan, T Rowe Price, LPL SAM Eligible, Schwab Retail, Dreyfus NTF, Ameriprise Brokerage, Mony Securities Corp, etc. The minimum balance to invest in this top international stock fund is $2,500 for brokerage account with minimum $100 subsequent investment. While for IRA account, the minimum initial investment is $500. The other class of this fund is Institutional Class (Ticker: MICSX).

The top 10 holdings of this top international stock fund as of May 2011 are Singapore Technologies Engineering Ltd, Taiwan Semiconductor Manufacturing Co Ltd, Keppel Corp Ltd, Telstra Corp Ltd, HSBC Holdings PLC, CLP Holdings Ltd, PTT Public Co Ltd, Hisamitsu Pharmaceutical Co Inc, China Petroleum & Chemical Corp and Ascendas REIT. These top ten holdings represent 28.7% of the total net assets. The top sectors allocation is Financials (27.6%), Telecom Services (14.8%), Industrials (14.7%), Information Technology (11.0%) and Consumer Discretionary (7.6%). And the top countries allocations are China/ Hong Kong (26.4%), Singapore (15.5%), Japan (9.4%), South Korea (8.7%) and Malaysia (7.0%). 

Principal Risks of Investment:
  • Political, Social and Economic Risks
  • Currency Risks
  • Emerging Markets Companies Risk
  • Trading Markets and Depositary Receipts Risk
  • Volatility Risk
  • Convertible Securities Risk
  • Dividend-Paying Equities Risk

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