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Matthews Asia

Matthews Asia Parent Rating

Average

Matthews International Capital Management still has strengths, but a transforming strategy roster, personnel turnover, and a big decline in assets warrant a drop of its Parent rating to Average from Above Average.

Matthews has a long history of success with funds that focus on Asian equities, but it has overhauled its strategy roster in recent years. Since early 2020, it has liquidated three funds, merged another away, launched its first diversified emerging-markets fund, and converted two of its Asia funds into diversified emerging-markets offerings. It also has opened four active exchange-traded funds in the past 12 months. That's a lot of change, and the firm is unproven in the diversified emerging-markets arena, though the fact that Asian stocks dominate the emerging-markets universe is grounds for optimism.

Matthews still has 30 individuals—excluding portfolio strategists and traders—on its investment team, and many are seasoned and skilled. But the firm has lost quite a few managers and analysts since the start of 2020, and the investment team is much smaller than it was. Further, its management team has had notable departures and retirements, such as former CEO William Hackett. Fundholders have pulled sizable amounts from Matthews' funds in recent years, and assets under management fell to $12 billion as of May 31, 2023, from $27 billion as of Dec. 31, 2019.

Matthews Asia Investments

Market

US Open-end ex MM ex FoF ex Feeder

Total Net Assets

5.91 Bil

Investment Flows (TTM)

−4.18 Bil

Asset Growth Rate (TTM)

−42.41%

# of Share Classes

26
Morningstar Rating # of Share Classes
2
8
13
2
1
Not Rated 0

Exchange-Traded Funds

See All Matthews Asia ETFs

Market

US ETFs

Total Net Assets

376.20 Mil

Investment Flows (TTM)

49.32 Mil

Asset Growth Rate (TTM)

21.72%

# of Share Classes

12
Morningstar Rating # of Share Classes
0
0
0
0
0
Not Rated 12

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