MCRDX Fees and Costs — Matthews Asia Credit Opportunities Fund, Investor Class
Data updated: 2023-03-09
The net expense ratio is 1.07%: a 0.55% management fee plus 0.52% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 80%.
MCRDX Fees and Expenses
Annual operating expenses and sales charges of MCRDX. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.52% |
| Gross expense ratio | 1.07% |
| Fee waiver | — |
| Net expense ratio | 1.07% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MCRDX Costs Over Time
On $10,000 invested in MCRDX, assuming 5% a year before costs, total costs come to $668 over 5 years, cutting the return by 1.12% 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 1.07%) | $112 | $350 | $607 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $112 | $368 | $668 |
| Value after costs | $10,388 | $11,209 | $12,094 |
| Impact on return, per year | 1.12% | 1.12% | 1.12% |
MCRDX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $26.4M
- Portfolio turnover (prospectus): 80%
- Securities lending: none during the year
MCRDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $6.5M | 26.08% |
| JEFFERIES LLC | $4.2M | 16.63% |
| MORGAN STANLEY & CO. LLC | $3.4M | 13.63% |
| GOLDMAN SACHS & CO. LLC | $2.6M | 10.29% |
| HSBC SECURITIES (USA), INC. | $2.4M | 9.42% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | $1.6M | 6.25% |
| CREDIT SUISSE SECURITIES (USA) LLC | $1.6M | 6.21% |
| BNP PARIBAS SECURITIES CORP. | $1.4M | 5.51% |
| UBS SECURITIES LLC | $1.1M | 4.49% |
| DEUTSCHE BANK SECURITIES, INC. | $375K | 1.49% |
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.