MICPX Fees and Costs — Matthews Asia Credit Opportunities Fund, Institutional Class
Data updated: 2023-03-09
The net expense ratio is 0.90%: a 0.55% management fee plus 0.38% other expenses, less a 0.03% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 80%.
MICPX Fees and Expenses
Annual operating expenses and sales charges of MICPX. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.38% |
| Gross expense ratio | 0.93% |
| Fee waiver | −0.03% |
| Net expense ratio | 0.90% |
| 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 |
MICPX Costs Over Time
On $10,000 invested in MICPX, assuming 5% a year before costs, total costs come to $564 over 5 years, cutting the return by 0.94% 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 0.90%) | $94 | $295 | $512 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $94 | $310 | $564 |
| Value after costs | $10,406 | $11,266 | $12,199 |
| Impact on return, per year | 0.94% | 0.94% | 0.94% |
MICPX 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
MICPX 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.