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Post by chang on Oct 8, 2021 4:08:11 GMT
Hey rhythmmethod - I decided to cut MITEX (MATFX) loose yesterday on the pop. BSW link here. I think I still owe you a beer for putting me onto the fund, which produced a nice little chunk of change over the last two years. Beyond the "why" mentioned in the BSW thread for selling it, I can add a little more detail which might interest you. Until recently MATFX was managed by Michael Oh and Tiffany Hsiao (who did very well with Matthews China Small Cos.). Tif left Matthews a few months back to join Artisan; at the same time Mike was made co-manager of MIAPX (MPACX), Matthews's flagship Asia Growth fund. So, I figure that Mr. Oh's best ideas are going to feed into MIAPX anyway. Hence, MITEX seemed like the most expendable among my cornucopia of EM funds. I mention it because you've mentioned being open to returning to MATFX. If and when you think about that, you might want to consider MPACX. MPACX manager Ishida has been on the job for 15 years, so his record his well established. I think you would find MPACX more growthy and mid-cappy than MATFX. It's no index hugger: right now it's 40% healthcare; also very China heavy (and underweight Japan vs. the average Asia-Pac fund). Its record is out there is to examine. I believe YBB is also a long-time holder, as I am. Anyway, just a thought ..... as Rod Serling would say, offered for your consideration. |
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Post by rhythmmethod on Oct 8, 2021 15:33:19 GMT
Hey rhythmmethod - I decided to cut MITEX (MATFX) loose yesterday on the pop. BSW link here. I think I still owe you a beer for putting me onto the fund, which produced a nice little chunk of change over the last two years. Beyond the "why" mentioned in the BSW thread for selling it, I can add a little more detail which might interest you. Until recently MATFX was managed by Michael Oh and Tiffany Hsiao (who did very well with Matthews China Small Cos.). Tif left Matthews a few months back to join Artisan; at the same time Mike was made co-manager of MIAPX (MPACX), Matthews's flagship Asia Growth fund. So, I figure that Mr. Oh's best ideas are going to feed into MIAPX anyway. Hence, MITEX seemed like the most expendable among my cornucopia of EM funds. I mention it because you've mentioned being open to returning to MATFX. If and when you think about that, you might want to consider MPACX. MPACX manager Ishida has been on the job for 15 years, so his record his well established. I think you would find MPACX more growthy and mid-cappy than MATFX. It's no index hugger: right now it's 40% healthcare; also very China heavy (and underweight Japan vs. the average Asia-Pac fund). Its record is out there is to examine. I believe YBB is also a long-time holder, as I am. Anyway, just a thought ..... as Rod Serling would say, offered for your consideration. Thanks, I'll keep it mind. Currently my thinking is to reduce my number of funds. I had a good run with MATFX. Long-term, it is my opinion that China rules. This, for all the reasons we know; off the charts work ethic, studiousness, etc. It would seem that such a totalitarian society would cause great unease. This not to mention the oppression there. However, they just keep their heads down and work, work work. This is to say that I'm not convinced what is good for China will be good for those who invest in China from abroad. With the exception of my short term, small BABA experiment that I'm content to let VWILX and others decide how much China to hold. I will definitely check out MPACX in the event I decide to hold a Asia/China specific fund. Thanks and stay well. -RM |
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Post by Deleted on Oct 8, 2021 16:30:57 GMT
I have now two em funds American funds new world and wastech em.
Ever since I read in wsj that during china's great economic boom return on China for us investors was 2.2% per annum which is lower than us treasuries during same period. And Chinese govt has investors rather low in its priorities. Ie. They will happily and forcibly take big chunks from their companies for their socialist agenda.
The risk reward does not make sense to me. Not sure how the growth potential of China really matters.
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Post by roi2020 on Oct 8, 2021 19:24:16 GMT
I have now two em funds American funds new world and wastech em. Ever since I read in wsj that during china's great economic boom return on China for us investors was 2.2% per annum which is lower than us treasuries during same period. And Chinese govt has investors rather low in its priorities. Ie. They will happily and forcibly take big chunks from their companies for their socialist agenda. The risk reward does not make sense to me. Not sure how the growth potential of China really matters. Robust economic growth in China did not lead to good returns in their stock market. |
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Post by alvinthechipmunk on Dec 30, 2021 14:55:32 GMT
Only bought some VGWAX with (some of) the proceeds of my partial MIAPX sale. I was surprised by MIAPX’s closing NAV. Japan was up sharply, and China and HK both up moderately, yet the fund dropped. Maybe fair value pricing?…but the US wasn’t down that much. Just reinforces my feeling that I should bid adieu to Matthews. I’ve had a good run with them and made plenty of money. Quit while I’m ahead? I share those sentiments. Matthews seems to have lost its mojo, its juju. For quite a while. And remember their personnel turnover? A number of months ago... |
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Post by chang on Dec 31, 2021 6:18:18 GMT
Only bought some VGWAX with (some of) the proceeds of my partial MIAPX sale. I was surprised by MIAPX’s closing NAV. Japan was up sharply, and China and HK both up moderately, yet the fund dropped. Maybe fair value pricing?…but the US wasn’t down that much. Just reinforces my feeling that I should bid adieu to Matthews. I’ve had a good run with them and made plenty of money. Quit while I’m ahead? I share those sentiments. Matthews seems to have lost its mojo, its juju. For quite a while. And remember their personnel turnover? A number of months ago... I moved your reply from BSW to here, otherwise my reply would be too much of a digression for that thread. Yes I do: in fact, they've been losing people for years. Foster was one of the first, and that was quite a few years ago. A year or two ago they lost three people. Their fund offering suddenly broke out into an eczema of new funds. They opened Matthews Asia Value, which they liquidated a year or two later. Theychanged MSMLX from Asia Small Cap to Global Emerging Markets. Frankly, there have been quite a few negative events, and no particularly positive ones. Hence, I may jettison MIAPX after 1/1, although perhaps as long as it remains under the current manager I will give it another quarter or two to turn around. It's on my radar. |
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