MIDNX Fees and Costs — Matthews India Fund, Institutional Class
Data updated: 2026-08-24
The net expense ratio is 1.14%: a 0.72% management fee plus 0.42% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.2M in broker commissions, 0.1556% of average net assets, and portfolio turnover was 54%.
MIDNX Fees and Expenses
Annual operating expenses and sales charges of MIDNX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.42% |
| Gross expense ratio | 1.14% |
| Fee waiver | — |
| Net expense ratio | 1.14% |
| 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 |
MIDNX Costs Over Time
On $10,000 invested in MIDNX, assuming 5% a year before costs, total costs come to $806 over 5 years, cutting the return by 1.36% 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 1.14%) | $120 | $372 | $644 |
| Trading costs (broker commissions) | $16 | $51 | $88 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $136 | $444 | $806 |
| Value after costs | $10,364 | $11,132 | $11,957 |
| Impact on return, per year | 1.36% | 1.36% | 1.36% |
MIDNX 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): 0.1556%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $8.8M
- Portfolio turnover (prospectus): 54%
- Securities lending: none during the year
MIDNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $199K | 22.47% |
| JEFFERIES LLC | $112K | 12.58% |
| Kotak Securities Limited | $109K | 12.34% |
| MACQUARIE CAPITAL (USA), INC. | $88K | 9.97% |
| Merrill Lynch Pierce Fenner & Smith Inc | $85K | 9.58% |
| MORGAN STANLEY & CO. LLC | $65K | 7.34% |
| CITIGROUP GLOBAL MARKETS INC. | $62K | 7.02% |
| CLSA SINGAPORE PTE LTD | $57K | 6.45% |
| GOLDMAN SACHS & CO. LLC | $56K | 6.31% |
| UBS Securities LLC | $53K | 5.95% |
MIDNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MOTILAL OSWAL FINANCIAL SERVICES LIMITED | $2.3M | 25.67% |
| INSTINET, LLC | $2.0M | 23.37% |
| Kotak Securities Limited | $1.9M | 21.28% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $1.5M | 16.81% |
| CitiGroup Global Markets Inc. | $1.1M | 12.88% |
Matthews India Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MIDNX | Institutional Class | 1.14% | — |
| MINDX | Investor Class | 1.26% | — |
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.