MPACX Fees and Costs — Matthews Asia Growth Fund, Investor Class
Data updated: 2026-08-24
The net expense ratio is 1.30%: a 0.72% management fee plus 0.58% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $514K in broker commissions, 0.2372% of average net assets, and portfolio turnover was 95%.
MPACX Fees and Expenses
Annual operating expenses and sales charges of MPACX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.30% |
| Fee waiver | — |
| Net expense ratio | 1.30% |
| 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 |
MPACX Costs Over Time
On $10,000 invested in MPACX, assuming 5% a year before costs, total costs come to $951 over 5 years, cutting the return by 1.61% 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 1.30%) | $136 | $424 | $730 |
| Trading costs (broker commissions) | $25 | $77 | $133 |
| Lost growth on money paid in costs | $0 | $25 | $88 |
| Total costs | $161 | $526 | $951 |
| Value after costs | $10,339 | $11,051 | $11,812 |
| Impact on return, per year | 1.61% | 1.61% | 1.61% |
MPACX 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): 0.2372%
- Total broker commissions: $514K
- Bought from dealers (principal trades, not a cost): $143K
- Portfolio turnover (prospectus): 95%
- Securities lending: none during the year
MPACX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $86K | 24.33% |
| CITIGROUP GLOBAL MARKETS INC. | $45K | 12.73% |
| UBS Securities LLC | $42K | 11.93% |
| SANFORD C. BERNSTEIN & CO., LLC | $29K | 8.20% |
| Daiwa Securities Group Inc. | $27K | 7.62% |
| JEFFERIES LLC | $26K | 7.46% |
| MORGAN STANLEY & CO. LLC | $26K | 7.33% |
| J.P. MORGAN SECURITIES LLC | $25K | 7.04% |
| GOLDMAN SACHS & CO. LLC | $24K | 6.73% |
| CLSA SINGAPORE PTE LTD | $23K | 6.62% |
MPACX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $112K | 78.86% |
| China International Capital Corporation Limited | $30K | 21.14% |
Matthews Asia Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MIAPX | Institutional Class | 1.19% | — |
| MPACX | Investor Class | 1.30% | — |
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.