MALAX — Asia Fund

MALAX Fund Overview

MALAX — Asia Fund is a US mutual fund managed by Mirae Asset Discovery Funds, 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: Mirae Asset Discovery Funds
• Category: China Blend / Core Equity
• Assets under management: $17.60M
• Ticker: MALAX
• SEC CIK: 0001489215
• SEC series ID: S000029293
• Share class ID: C000090077

MALAX Investment Objective and Strategy

Asia Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Mirae Asset Discovery Funds.

Investment objective

The investment objective of Asia Fund (the Fund) is to achieve long-term capital growth.

Principal investment strategy

Under normal circumstances, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets, plus any borrowings for investment purposes, measured at the time of purchase, in equity securities (i) of issuers in Asia, excluding Japan or (ii) that are tied economically to Asia, excluding Japan, provided that, in either case, the issuers of any such securities are deemed by the Investment Manager to be Sector Leaders. Equity securities consist of common stock and related securities, such as preferred stock and depositary receipts. The Investment Manager defines Sector Leaders to be those issuers that are highly ranked, or those that the Investment Manager expects to be highly ranked in the future, in terms of market share or market capitalization within their respective country, region, industry, products produced or services offered, as applicable.

The Investment Manager generally considers highly ranked to mean first or second. In determining whether an issuer is, or is likely to be, highly ranked, the Investment Manager considers, among other things: (i) issuers with a sustainable long-term business model or strategy that the Investment Manager considers to be a competitive advantage; (ii) issuers with businesses that the Investment Manager expects to benefit from long-term economic trends; and (iii) issuers with management practices and philosophies that the Investment Manager considers beneficial to shareholder value. The Investment Manager considers Asia to include, primarily, China (including Hong Kong and Macau), India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand. The Investment Manager determines that an investment is tied economically to Asia, excluding Japan, if such investment satisfies one or more of the following conditions: (i) the issuers primary trading market is in Asia, excluding Japan; (ii) the issuer is organized under the laws of, derives at least 50% of its revenue from, or has at least 50% of its assets in Asia, excluding Japan; (iii) the investment is included in an index representative of Asia, excluding Japan; and (iv) the investment is exposed to the economic risks and returns of Asia, excluding Japan.

For market capitalization determination, the Investment Manager considers, on a country-by-country basis, the rankings published by generally recognized classification systems, such as the MSCI Global Industry Classification System (MSCI GICS). The Investment Manager may invest in issuers across all industry sectors, as defined by MSCI GICS. For market share determination, the Investment Manager generally uses its proprietary analysis of an issuers competitive positioning within its respective industry on a province, state, country or regional basis. The Investment Manager also may consider product segments or types of services provided by an issuer that are outside of the issuers generally recognized industry classification. The Investment Managers proprietary analysis may include consideration of third-party data on market share.

The Investment Manager buys and sells securities based on its judgment about issuers, the prices of the securities and other economic factors. The Fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies. The Fund may invest in securities of any market capitalization.

MALAX Costs and Fees

MALAX costs about $140 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.40%
• Gross expense ratio: 2.02%
• Portfolio turnover: 129%
• Brokerage commissions: 29.90 bps of average net assets (SEC N-CEN)

MALAX Cashflows

Over the 12 months to 2020-04, Asia Fund had net inflows of $4.63M, from monthly SEC N-PORT filings.

MALAX Debt Constituents

No individual debt constituents are reported in Asia Fund's latest SEC N-PORT filing.

MALAX Prospectus and SEC Filings

Official Asia Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-09-13
• Prospectus (485BPOS) — filed 2018-09-13
• Prospectus (485BPOS) — filed 2017-09-11
• Portfolio holdings (N-PORT) — filed 2020-06-23
• Annual census (N-CEN) — filed 2020-07-09
• Annual census (N-CEN) — filed 2019-07-12

Related Funds

Other China Blend / Core Equity funds tracked on ABC INVEST:

• Fiera Capital Emerging Markets Fund (RIMIX)
• 2ndVote Society Defended ETF (EGIS)
• Infusive® Compounding Global Equities ETF (JOYY)
• Clough China Fund (CHNAX)
• Franklin FTSE Hong Kong ETF (FLHK)

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.