MAKAX — China Equity Portfolio
Data updated: 2022-11-28
MAKAX — China Equity Portfolio. China Blend / Core Equity · $7.64M AUM · 1.55% expense ratio. Holdings, fees, performance and SEC filings.
MAKAX Fund Overview
MAKAX — China Equity Portfolio is a US mutual fund managed by Morgan Stanley Institutional Fund INC, categorised as China Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Morgan Stanley Institutional Fund INC
- Category: China Blend / Core Equity
- Assets under management: $7.64M
- 1-year return: -34.4%
- Ticker: MAKAX
- SEC CIK: 0000836487
- SEC series ID: S000066376
- Share class ID: C000214195
MAKAX Investment Objective and Strategy
China Equity Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Morgan Stanley Institutional Fund INC.
Investment objective
The China Equity Portfolio (the Fund) seeks long-term capital appreciation.
Principal investment strategy
The Adviser and/or Sub-Adviser seeks to achieve the Funds investment objective, under normal circumstances, by investing at least 80% of the Funds net assets in equity securities of companies located in or operating in China (which, for the purposes of the Funds investment strategy, includes mainland China and Hong Kong). This policy may be changed without shareholder approval; however, you would be notified upon 60 days notice in writing of any changes. The Adviser and/or Sub-Adviser actively selects positions in a limited number of equity securities using a fundamental bottom-up stock selection process informed by macro thematic research on China. The Adviser and/or Sub-Adviser will employ this consistent and targeted approach seeking companies with strong sustainable earnings growth and fundamentals.
Investment selection criteria include attractive growth characteristics, reasonable valuations and company managements oriented towards creating strong shareholder value. The Adviser and/or Sub-Adviser generally considers selling an investment when it determines the company no longer satisfies their investment criteria. The Fund may invest in China A-shares (shares of publicly traded companies based in mainland China) listed and traded on the Shanghai Stock Exchange through the Shanghai-Hong Kong Stock Connect program, as well as China A-shares listed and traded on the Shenzhen Stock Exchange through the Shenzhen-Hong Kong Stock Connect program (collectively, Stock Connect). Stock Connect is a securities trading and clearing program between the Shanghai and Shenzhen Stock Exchanges, the Stock Exchange of Hong Kong Limited, China Securities Depository and Clearing Corporation Limited (CSDCC) and Hong Kong Securities Clearing Company Limited (HKSCC) designed to permit mutual stock market access between mainland China and Hong Kong by allowing investors to trade and settle shares on each market via their local exchanges.
Stock Connect may include other exchanges in the future. The Fund may also invest in China A-shares through any other means permitted in the future by applicable law or regulation. The equity securities of Chinese companies the Fund may invest in also include securities issued by Hong Kong domiciled companies, as well as China H-shares (shares of China-incorporated, Hong Kong-listed companies), Shanghai- and Shenzhen-listed B-shares (shares of China-incorporated companies that are traded in foreign currencies) and China red chip shares (shares of companies based in mainland China that are incorporated outside China and listed in Hong Kong). In addition, the Fund may invest in American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and other types of depositary receipts with respect to companies operating in China.
The Fund may also invest in securities of other investment companies, including exchange- traded funds (ETFs). The Fund may hold or have exposure to equity securities of companies in any industry or sector. The investment process integrates information about environmental, social and governance issues (also referred to as ESG) when making investment decisions. The Adviser believes that monitoring ESG helps build a more complete picture of the opportunities and risks facing companies, and seeks to engage directly with company management to gain insights on how each company addresses material ESG issues and how these may affect long-term financial performance. The investment process excludes holdings in tobacco companies. The Fund may, but it is not required to, use derivative instruments for a variety of purposes, including hedging, risk management, portfolio management or to earn income.
The Funds use of derivatives may involve the purchase and sale of derivative instruments such as futures, structured investments and other related instruments and techniques. Derivative instruments used by the Fund will be counted toward the Funds 80% policy discussed above to the extent they have economic characteristics similar to the securities included within that policy.
MAKAX Performance
Total returns for MAKAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -34.4% |
| 3 years (annualised) | -10.1% |
MAKAX Risk Information
Risk metrics for MAKAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 22.8%
MAKAX Costs and Fees
MAKAX costs about $155 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.55%
- Gross expense ratio: 4.63%
- Portfolio turnover: 73%
- Brokerage commissions: 12.66 bps of average net assets (SEC N-CEN)
MAKAX Cashflows
Over the 12 months to 2022-09, China Equity Portfolio had net inflows of $218.77K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-09 | −$99.97K |
| 2022-08 | $74 |
| 2022-07 | $5 |
| 2022-06 | $20 |
| 2022-05 | −$3.56K |
| 2022-04 | −$0 |
MAKAX Debt Constituents
No individual debt constituents are reported in China Equity Portfolio's latest SEC N-PORT filing.
MAKAX Prospectus and SEC Filings
Official China Equity Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-04-29
- Prospectus (485BPOS) — filed 2020-05-20
- Prospectus supplement (497) — filed 2021-05-05
- Portfolio holdings (N-PORT) — filed 2022-11-28
- Portfolio holdings (N-PORT) — filed 2022-08-25
- Portfolio holdings (N-PORT) — filed 2022-05-26
- Annual census (N-CEN) — filed 2022-03-11
- Annual census (N-CEN) — filed 2021-03-10
Related Funds
Other China Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.