MISFX Fees and Costs — Matthews Emerging Markets Sustainable Future Fund, Institutional Class
Data updated: 2026-08-24
The net expense ratio is 1.15%: a 0.72% management fee plus 0.52% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $320K in broker commissions, 0.1530% of average net assets, and portfolio turnover was 60%.
MISFX Fees and Expenses
Annual operating expenses and sales charges of MISFX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.52% |
| Gross expense ratio | 1.24% |
| Fee waiver | −0.09% |
| Net expense ratio | 1.15% |
| 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 | Yes |
MISFX Costs Over Time
On $10,000 invested in MISFX, assuming 5% a year before costs, total costs come to $810 over 5 years, cutting the return by 1.37% 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 1.15%) | $121 | $376 | $649 |
| Trading costs (broker commissions) | $16 | $50 | $86 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $137 | $447 | $810 |
| Value after costs | $10,363 | $11,130 | $11,953 |
| Impact on return, per year | 1.37% | 1.37% | 1.37% |
MISFX 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): 0.1530%
- Total broker commissions: $320K
- Bought from dealers (principal trades, not a cost): $569K
- Portfolio turnover (prospectus): 60%
- Securities lending: none during the year
MISFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $47K | 19.54% |
| UBS Securities LLC | $44K | 18.48% |
| JP MORGAN SECURITIES LLC | $26K | 10.79% |
| MORGAN STANLEY & CO. LLC | $26K | 10.75% |
| BTG PACTUAL US CAPITAL, LLC | $19K | 8.08% |
| CITIGROUP GLOBAL MARKETS INC. | $18K | 7.61% |
| GOLDMAN SACHS & CO. LLC | $16K | 6.77% |
| EFG Hermes Holding SAE | $15K | 6.39% |
| CLSA SINGAPORE PTE LTD | $14K | 5.94% |
| JEFFERIES LLC | $14K | 5.64% |
MISFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $569K | 100.00% |
Matthews Emerging Markets Sustainable Future Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MISFX | Institutional Class | 1.15% | — |
| MASGX | Investor Class | 1.35% | — |
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.