MAKOX Fees and Costs — Matthews Korea Fund, Investor Class
Data updated: 2023-08-28
The net expense ratio is 1.22%: a 0.67% management fee plus 0.55% other expenses. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $179K in broker commissions, 0.1724% of average net assets, and portfolio turnover was 57%.
MAKOX Fees and Expenses
Annual operating expenses and sales charges of MAKOX. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.67% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.55% |
| Gross expense ratio | 1.22% |
| Fee waiver | — |
| Net expense ratio | 1.22% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MAKOX Costs Over Time
On $10,000 invested in MAKOX, assuming 5% a year before costs, total costs come to $864 over 5 years, cutting the return by 1.46% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.22%) | $128 | $398 | $687 |
| Trading costs (broker commissions) | $18 | $56 | $97 |
| Lost growth on money paid in costs | $0 | $23 | $80 |
| Total costs | $146 | $477 | $864 |
| Value after costs | $10,354 | $11,099 | $11,899 |
| Impact on return, per year | 1.46% | 1.46% | 1.46% |
MAKOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.1724%
- Total broker commissions: $179K
- Bought from dealers (principal trades, not a cost): $989K
- Portfolio turnover (prospectus): 57%
- Securities lending: none during the year
MAKOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $50K | 31.07% |
| KOREA INVESTMENT & SECURITIES AMERICA, INC. | $19K | 12.02% |
| CREDIT SUISSE SECURITIES (USA) LLC | $19K | 11.81% |
| CITIGROUP GLOBAL MARKETS INC. | $18K | 11.43% |
| CLSA SINGAPORE PTE LTD | $15K | 9.36% |
| SAMSUNG SECURITIES (AMERICA), INC. | $10K | 6.42% |
| Daiwa Securities Group Inc. | $8K | 4.91% |
| UBS Securities LLC | $8K | 4.74% |
| MORGAN STANLEY & CO. LLC | $7K | 4.14% |
| HSBC SECURITIES (USA) INC. | $7K | 4.11% |
MAKOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $989K | 100.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.