Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
  • Morningstar's Portfolio Manager Price Updating Concern ...
    Max, If I remember, you own MAINX. Closed at $10.54. Up a penny.
    Mine are all updated via apps.
  • bloated
    Thanks, all. Really. OK, so you guys don't say to yourselves: "When this fund reaches $5B I'm gone. It's a very relative term, considering a fund's mandate. Over the years, I've deliberately put $$$ into young funds which ipso facto do not have a big asset base, yet. Funds like SFGIX Seafarer, MSCFX Mairs & Power Small-cap, TRAMX TRP Africa/Middle East, MAESX Matthews Frontier Asia, DLFNX DoubleLine core-plus, MAINX Matthews Asia bonds...... Of the not wonderful choices available in my wife's 403b, I selected Vanguard Small-cap Index NAESX. Still less that a thousand dollars in there. THERE is a fund that M* has even featured re: asset drift, connected to bloat. M* says it owns way too much now in Midcaps to truly be a small-cap fund....
  • Help with Rollover IRA at Price
    Thanks John,
    Yeah, I've always loved Matthews. Wonderful family. I had my original IRA at Price at one time and was able to get really crazy with pm stocks back in the early days of the bull run in 2002 and 3. Geez, they'll trade pink sheets if you've got the chops. That's where I hit a homer with SLW. I was buying in the $2-3 range and it went to $43. OohRah!
    35% int'l is sensible and MAINX is a way to get some portion in int'l bonds.
    I'm with you as to keeping things simple. Geez, I'm busy hugging trees. This is pretty much what I've done with the wife's rollover - put it on cruise control.
    Having a core holding as base also sounds reasonable.
    thanks,
    rono
  • Help with Rollover IRA at Price
    Good to hear from ya @rono.
    Having the account in the brokerage was a great move. I don't know much about TRP except that they are a good company to deal with. Your asset allocation figures are a good starting point and I'm sure you will adjust as time and circumstance permit. As for international equities, I personally like 30-40% of the equity portion in international. That would include emerging markets albeit at a small portion of that. You mentioned Matthews Asia. MPACX would be a good general pick. Their Pacific Tiger fund could fit within the EM portion. I really like MAINX for a small part of your fixed income portion.
    I was in a similar position several years ago. I ended up picking an asset allocation fund of funds as my core holding and then branching off of that. In our older years simplicity can be a great thing.
    Think about having ten percent of your portfolio as play or speculative. You could invest in some individual stocks or ETFs that you feel might go up.
    I'm sure you will get plenty of advice here.
    All the best, John.
  • Allocation Question regarding Unconstrained Bond Funds.
    I have ACCNX as my core bond fund and my biggest bond position as of now. This past summer I got into ASDVX . I also have a small position in MAINX.
  • Watch the Yen, and Be Very Afraid.
    WisdomTree has a suite of hedged Japan etf's if that's of interest ... DXJ is the broad-based one.
    The Matthews prospectus boilerplate language (for each of its stock funds, under "Principal Investment Risks") says this:
    'While the Fund is permitted to hedge currency risks, Matthews does not anticipate doing so at this time.'
    The separate prospectus for MAINX says this (under "Principal Investment Strategies"):
    'The Fund will not seek to limit its foreign currency exposure and may invest without limitation in non-U.S. dollar-denominated securities and instruments. The Fund reserves the right to hedge its exposure to foreign currencies to reduce the risk of loss from fluctuations in currency exchange rates, but normally does not expect to do so.'
    MAINX does invest in U.S. dollar-denominated Asian debt, however - the split has been roughly half U.S. dollar, half foreign lately.
  • RE Funds tank today...any info why?
    MAINX was just flat for me today. DLFNX down -0.27%
    MEASX and PRESX were up by 0.34% and 0.43%. .... PRESX has quite a way to come back, after all the negative stuff going on in Europe.
    Overall, portfolio was down for Friday by -0.16%. Not awful. I've had a few days this week of up and down in tiny bits, mostly down. Portfolio is down from its highest (very recent) ever by -0.7% today. Onward and upward. MAFSX has been a disappointment. MAPIX and MACSX lately getting chopped.
  • Role of Bonds in a Long-term Portfolio?
    MAINX is mostly EM, but not 100%. The Matthews site lists several countries in the portfolio that are either always or usually considered 'developed' - Hong Kong, Oz, Singapore, Korea (they mean South, of course), and very small holdings in NZ and Japan. I think that's why M* calls it 'world' bond.
  • Role of Bonds in a Long-term Portfolio?
    Thanks for clearing that up. M* has had more than their share of classification errors.
    I hold MAINX as a small portion of my portfolio. It has done well though not as good as the high yield universe. I have some of that as well. We all invest in what we are comfortable with.
    All the best.
  • Role of Bonds in a Long-term Portfolio?
    @Junkster, I was wondering if you could clarify your statement. "Great fund. MAINX a good fund but too stodgy for my tastes and not in the emerging markets bond category."
    It is an emerging market bond fund, focused to Asia of course. Perhaps I misunderstood something in your comment.
    Sorry, maybe my mistake. I was looking at Morningstar which has had it in their World Bond category since its inception. I need to be in wherever the momentum is in Bondville and that hasn't been MAINX last year nor this year. In a well rounded portfolio (something I am not into) I am sure anything Matthews related has a place being they are a topnotch fund company.
  • Role of Bonds in a Long-term Portfolio?
    @Junkster, I was wondering if you could clarify your statement. "Great fund. MAINX a good fund but too stodgy for my tastes and not in the emerging markets bond category."
    It is an emerging market bond fund, focused to Asia of course. Perhaps I misunderstood something in your comment.
  • Role of Bonds in a Long-term Portfolio?
    @Junkster That's kind of what I'm thinking. Not aware of tons of emerging market funds. DBLEX and FNMIX I'm familiar with, looks like there are 5 other Great Owl options in the category.
    Edit: I'd guess MAINX counts to this idea too.
    jlev, were I not in junk munis would be in DBLEX (and actually was in it a time this year)
    Great fund. MAINX a good fund but too stodgy for my tastes and not in the emerging markets bond category. Over the past 3 and 5 years junk corporates have outperformed their emerging markets counterparts but the later shined over the past 20 years. I always worry though and one fear is the great bond rally in so many sectors that has been running for decades may someday come to an abrupt end. But then we have been hearing that for awhile now and demographics may provide more of a tailwind than some of the bond bears suspect. Good luck and enjoy the long years of life you have ahead of you. I lead hikes in my local area over the winter and have lots of 20 and 30 somethings in my group. Real refreshing people to hang around.
  • Role of Bonds in a Long-term Portfolio?
    @Junkster That's kind of what I'm thinking. Not aware of tons of emerging market funds. DBLEX and FNMIX I'm familiar with, looks like there are 5 other Great Owl options in the category.
    Edit: I'd guess MAINX counts to this idea too.
  • September will post around dinner time
    Good & informative reviews of MAINX and AKREX, David; muchas gracias.
  • I should probably just sit still...
    Hello. About my bonds:
    DLFNX is domestic bonds, at 2.46% of portf.
    MAINX is at 3.54% "World Bond" category at Morningstar.
    PREMX is EM bonds, at 3.94%
    Domestic funds PRWCX and MAPOX are "balanced" and hold bonds with equities, too.
    :)
    In the "other" category, my best guess is that it's some Treasury "shorts" in MAINX and convertible bonds in MACSX.
  • I should probably just sit still...
    Hello, everyone. I promised an update. Here's my total run-down, after the change, tonight:
    1. MAPIX 23.57% of portfolio Matthews Asia Div.
    2. PRWCX 18.74 TRP Cap. Apprec.
    3. PRESX 14.87 TRP Developed Europe
    4. MAPOX 9.01 Mairs & Power Balanced
    5. MEASX 6.2 Matthews Emerging Asia
    6. MAFSX 6.19 Matthews Focused
    7. PREMX 3.94 TRP Emerg. Mkt Bonds
    8. MAINX 3.54 Matthews mostly Asia bonds
    9. SFGIX 2.82 Seafarer EM
    10. TRAMX 2.81 TRP Africa-Middle East
    11. MACSX 2.63 Matthews Growth & Income
    12. DLFNX 2.46 DoubleLine bonds
    13. MSCFX 2.45 Mairs & Power Small-cap.
    14. NAESX 0.76 (wife's 403b) Vanguard Small-cap Index Fund
    *****************************
    M* Instant X-Ray:
    Cash 4%
    US 20
    Foreign 56
    -Europe Developed 14.63
    -Europe Emerg. 0.46
    -Asia Dev. 11.63
    -Asia Emerg. 23.99
    -Japan 7.76
    -UK 7.56
    -Canada 6.74
    -Ausralasia 3.83
    -Africa/Middle East 2.79
    -Latin America 0.61
    BONDS: 17
    "Other:" 3
    ++++++++++++++
    Thanks for all the support, everyone. As I suppose it is for the rest of you, this thing is always a work in progress. I mentioned that I'll be growing MAPOX, and also my bond funds, particularly DLFNX. An intense, focused, lengthy conversation with a financial pro last year was enlightening. Wholesale changes were made. I want it to be truly worldwide. It is that. But it's still, as I say, a work in progress. Like myself.

  • I should probably just sit still...
    MAPOX is a decent fund. I don't know its history during bear markets but it's been around for a while. I had forgotten that MAPTX was closed.
    Matthews is a great company. I have MAINX as well as MAPIX. MAINX is around 5% of my portfolio. But, they are Asia centric. That's their business and they are good at it. Having exposure to Europe is good too.
    You may have more moves to make but take it slow and use opportunities to make changes. My favorite visual for my $cost avg method was the water hose and bucket. The water was my money going into investments. The hose directed that money. The buckets were my investments. As some investments fell out of favor and I still believed in them I would point that hose and fill that bucket more than the others. It's a value type $cost avg method. On the other hand if a fund had a big year I would sweep profits in one or more of the others. My big year was the year TWCUX had a 80% +/- return. I swept the profits. The next couple of years were not that good. Typical after a big return.
    I think you will be happy with MEASX.
  • quick notes on a conversation with Teresa Kong, Matthews Asia Strategic Income
    That might be a tough order STB. MAINX currently has 16% in India fixed income. There are other emerging market bond funds but this is the only one off the top of my head that is Asia focused.
  • quick notes on a conversation with Teresa Kong, Matthews Asia Strategic Income
    Since the comments on the merits of Indian bonds seemed intriguing, I Googled for an ETF or mutual Indian bond fund without success aside from those apparently limited to residents of India.
    Does anyone know of one I missed?
    I've been in MAINX with its ups and downs, but I wanted something more focused for a modest investment.
  • quick notes on a conversation with Teresa Kong, Matthews Asia Strategic Income
    This may be a good companion fund to pair with MAINX for more world wide E M fixed income exposure. At present Ms. Padilla and team are nearly 85% invested in various Latin American issues with a longer average maturity .I own both.
    DLENX July 31 fact sheet
    http://www.doublelinefunds.com/pdf/EM_Fact_Sheet_Monthly_Update.pdf
    Excerpts:
    Team continues to actively manage
    duration
    At year end 2012, DBLEX had a duration of 4.4 years compared to the 2013
    year end duration of 6.6 years. This shorter duration absorbed most of the impact from rising rates in 2013. The higher duration at the end of 2013 has contributed to out performance so far this year.
    We believe 10 year UST rates should remain range bound between 2.20-2.80%
    Top country allocations: Brazil, Mexico, Peru, and Guatemala all up double digits
    No local currency exposure in the fund, although the team continues to monitor opportunities
    DBLEX duration is 5.93 years; this is a result of positioning the portfolio
    in BB rated space where new issues have appeared to be
    attractively priced. These securities tend to have a shorter duration
    49% of portfolio is allocated to Investment Grade bonds
    Top sectors: Banking, telecommunications, consumer products, mining &
    oil, all of which are strategic sectors for an EM economy
    Consumer products aim to take advantage of rising income levels in EM countries