MAPTX Fees and Costs — Matthews Pacific Tiger Fund, Investor Class
Data updated: 2026-08-24
The net expense ratio is 1.22%: a 0.72% management fee plus 0.50% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.8M in broker commissions, 0.2479% of average net assets, and portfolio turnover was 87%.
MAPTX Fees and Expenses
Annual operating expenses and sales charges of MAPTX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.50% |
| 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 |
MAPTX Costs Over Time
On $10,000 invested in MAPTX, assuming 5% a year before costs, total costs come to $910 over 5 years, cutting the return by 1.54% 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 | $686 |
| Trading costs (broker commissions) | $26 | $81 | $139 |
| Lost growth on money paid in costs | $0 | $24 | $84 |
| Total costs | $154 | $502 | $910 |
| Value after costs | $10,346 | $11,074 | $11,853 |
| Impact on return, per year | 1.54% | 1.54% | 1.54% |
MAPTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2479%
- Total broker commissions: $1.8M
- Bought from dealers (principal trades, not a cost): $396K
- Portfolio turnover (prospectus): 87%
- Securities lending: none during the year
MAPTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $285K | 21.52% |
| J.P. Morgan Securities LLC | $164K | 12.40% |
| UBS Securities LLC | $148K | 11.16% |
| Merrill Lynch Pierce Fenner & Smith Inc | $118K | 8.95% |
| MORGAN STANLEY & CO. LLC | $115K | 8.66% |
| CITIGROUP GLOBAL MARKETS INC. | $110K | 8.32% |
| Daiwa Securities Group Inc. | $102K | 7.67% |
| CLSA SINGAPORE PTE LTD | $101K | 7.65% |
| MACQUARIE CAPITAL (USA), INC. | $94K | 7.08% |
| JEFFERIES LLC | $87K | 6.59% |
MAPTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Kotak Securities Limited | $396K | 100.00% |
Matthews Pacific Tiger Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MIPTX | Institutional Class | 1.10% | — |
| MAPTX | Investor Class | 1.22% | — |
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.