Several Matthews Asia funds were mentioned.
I personally would stay away from all Matthews Asia funds in the near-term (possibly long-term).
There has been an exodus of talent at the firm over the past few years.
https://www.mutualfundobserver.com/discuss/discussion/comment/152046
https://www.mutualfundobserver.com/discuss/discussion/comment/156101
https://www.mutualfundobserver.com/discuss/discussion/comment/159415

I agree.
@randynevin. Look at DODWX. It is global, not strictly international. Great track record.
https://www.morningstar.com/funds/xnas/dodwx/quote

Not really- there are two separate entries there:
• The first shows "Cash and Cash Investments Total $54,014.50"
And down in the extreme lower right of the "Balance Details" section:
• "Funds in linked Bank Account $10,046.00"
And that is agreement with the Account Summary as shown above. The only account we have at the Schwab Bank is a checking account. I'm not sure if that's the same on your side, or if that actually makes any difference at all. This whole thing with the apparent differences in our accounts is very puzzling to me.

19 May, 2022.
https://www.bloomberg.com/news/videos/2023-05-20/wall-street-week-full-show-05-19-2023
GULP! The national debt is now up to 97% of GDP!? (Remember when the figure was tagged as GNP? So, what's the difference, and why the change?)

Recessions & financial crises go hand in hand after Federal Reserve tightening cycles. Outspoken economist Dave Rosen-"bear"-g sees evidence of both and advises defensive investments.
He's predicting 3100 on the S&P 500.
Previous lows:
Present Level = 4192
1 year low - Oct 10, 22 = 3500
3 year low - Mar 11, 2020 = 2586
5 year low - Dec 1, 2018 = 2506

Anybody care to speculate on what caused BAMBX to fall to earth after several great years? From 2016 through 2021 it was positive every year - delivering (by my estimate) around 5% yearly returns on average. That type performance from a low / moderate risk fund is going to attract eyeballs. But it fell 3% in 2022 and is dead-even (0%) YTD.
OK - 2022 was reasonable considering the whacking both equities and fixed income received, But this year makes no sense. All I can figure is that it’s invested heavily at the short end of the yield curve and has struggled against sharply rising short term rates. If that’s the case, it stands to do much better when short-term rates begin falling. Just a guess. Anybody see anything different?
“Black box” is probably a misnomer. Yet, ISTM this type of investment process makes it a real challenge to “get under the hood” and really understand what makes the fund behave the way it does.

@sfnative-
It's entirely possible that I'm ignorant of some things here. I have no idea what a "Program Bank" is, nor have I ever seen anything on Schwab referring to that. If I visit our "Account Summary" there are two separate entries for cash accounts- one for the brokerage and one for the bank.
Here's a reproduction of the top lines of our current Account Summary:

Note that the brokerage cash account is currently $54,014 (a CD just matured), while the bank account is $10,046.
I really don't know what else to say about this.
Regards- OJ

[snip]
Now the problem for me with locking up money in a CD is that it limits my ability to move in and out of what I believe are more profitable investments while that money is tied up. I’ll take the 4+% on cash Fido currently pays in return for being able to pick up equities anytime I want. While you’re tied up in a 3 year or 5 year C/D some hard assets or equities you watch could fall by 25%, making them an attractive buy. Do the math and you’ve actually lost money if you buy those assets a few years later after the prices have rebounded, even considering your “profit” from the C/D. When you lock up cash for any length of time you pay an opportunity cost.
[snip]

Well said!

https://www.sec.gov/Archives/edgar/data/923184/000119312523149421/d475937d497.htm
497 1 d475937d497.htm FORM 497
SUPPLEMENT DATED MAY 19, 2023
TO THE MUTUAL FUND PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION OF
MATTHEWS ASIA FUNDS
DATED APRIL 28, 2023, AS SUPPLEMENTED
For all existing and prospective shareholders of Matthews Korea Fund – Investor Class shares (MAKOX) and Institutional Class shares (MIKOX):
As explained in the supplement dated March 7, 2023, the Matthews Korea Fund (the “Fund”) will be reorganized from a mutual fund into an exchange-traded fund (“ETF”), expected to occur on or around July 14, 2023 (the “Reorganization”).
As part of the Reorganization, the following preliminary events will occur before the Reorganization is completed:
●On or around June 20, 2023, all Investor Class shares of the Fund will be converted to Institutional Class shares of the Fund (the “Share Class Conversion”); and
●On or around June 23, 2023, when the Fund has only Institutional Class shares outstanding, those outstanding shares will be combined into fewer shares through a reverse stock split (the “Reverse Stock Split”).
At a meeting held on May 16-17, 2023, the Board of Trustees (the “Board”) of Matthews International Funds, (dba Matthews Asia Funds) (the “Trust”), approved, on behalf of the Fund, the Share Class Conversion and the Reverse Stock Split.
The Share Class Conversion is intended to help minimize the number of fractional shares prior to the Reorganization since fractional shares are not supported in the ETF structure. After the Share Class Conversion occurs, each shareholder that held Investor Class shares will instead hold Institutional Class shares with the same total net asset value as previously held in the Investor Class shares. The Institutional Class shares currently have a lower total expense ratio compared to the Investor Class shares.
Shortly after the Share Class Conversion, the Institutional Class shares will combine into fewer shares through the Reverse Stock Split to increase the net asset value per share of the Institutional Class prior to the Reorganization. A higher net asset value per share for the ETF is desired to help facilitate better secondary market quality of the ETF. The Reverse Stock Split will occur at an exact ratio to be determined by Matthews International Capital Management, LLC, as the adviser to the Fund, currently expected to be between 1-for-6 to 1-for-9. If, for example, the exact ratio is 1-for-7, a shareholder would receive 1 Institutional Class share for every 7 Institutional Class shares held, with any fractional amounts to be paid in cash prior to the Reorganization so that the shareholder would hold a round number of shares. As with the Share Class Conversion, the total net asset value of each shareholder’s Institutional Class shares will be the same after the reverse split as before the reverse split (except for the value represented by cash received for fractional shares). The Reverse Stock Split will not result in a taxable transaction for shareholders. However, any fractional shares of the Institutional Class that are held prior to the Reorganization will be liquidated for cash, which may cause a taxable event with respect to the cash received.
Please retain this Supplement with your records.

(a) It'd be best to invoke the 14th before a default, as a way of avoiding one ... like the language suggests.
(b) The SC-5/6 have shown they can "creatively" justify anything they want, constitution and precedent be damned. Ayatollah Alito may be on it right now.

History and the landing:
https://www.nytimes.com/interactive/2023/05/18/opinion/jobs-inflation-economy.html

Schwab Bank pays whopping 0.45-0.48% on its checking and savings accounts.

Hey it's probably still more than they pay their brokerage sweep account!
Amazing that in 2023 they still want folks to buy into their (expensive) MMFs and take an extra step to move funds around when raising/storing cash in-between buys/sells, which is just as old-school a mindset as thinking OEFs with front-end loads are a good idea.
I just use t-bills instead for cash at Schwab ... sure, it's essentially the same process as using one of their MMFs, and they probably profit a few bps from the spread, but I feel less annoyed by that ... and probably come out a tiny bit ahead anyway in the end.

Saw blurp on cnbc chase 9.5% cd cannot find online (maybe variable least 200k) . Anyone know cusip?

As msf posted a while ago, ML also offers Fidelity mm funds >4.6% (at the moment).
No sweep functions (meaning it takes a little planning to move your moneys about), but otherwise a fine thing to use and quite a departure from the past.
In related news, my BoA heloc is now >7.4%, unbelievably, which is slightly higher than my first house mortgage, 51y ago.

Schwab Bank pays whopping 0.45-0.48% on its checking and savings accounts.

WaPo: The FreeDumb caucus calls on McCarthy to "suspend debt negotiations" and focus on getting the House's previously passed bill through the Senate.
“There should be no further discussion until the Senate passes the legislation,” a statement from the Republican group said.
Passing anything in the House to stop a debt default is no slam dunk, no matter what the negotiators come up with. The lunatics are still in charge of the asylum. Are there any "moderate" House Repubs left to stop this suicide pact?

No one size fits all. If we get back to 15% on CDs like under Volker I’ll take a look. Generally, I’d rather invest in things than in cash. That’s just a personal prejudice born of 50+ years watching markets. Now the problem for me with locking up money in a CD is that it limits my ability to move in and out of what I believe are more profitable investments while that money is tied up. I’ll take the 4+% on cash Fido currently pays in return for being able to pick up equities anytime I want. While you’re tied up in a 3 year or 5 year C/D some hard assets or equities you watch could fall by 25%, making them an attractive buy. Do the math and you’ve actually lost money if you buy those assets a few years later after the prices have rebounded, even considering your “profit” from the C/D. When you lock up cash for any length of time you pay an opportunity cost.
Let’s not put all bond funds in one basket / trash bin. There are, by many accounts, some good opportunities in EM bond funds for folks willing to take on some added risk. If you like to “play” the fixed income market, buy and sell something like a GNMA bond fund as the 10 year fluctuates up and down in yield. Mostly, that’s govt. backed paper. High yield and convertible bond funds allow a good manager to profit from his/her research and analytical skills in markets that skirt the line between equity and traditional bond. I would not simply write those types of investments off as “just another bond fund.” And some international bond funds profit from playing the FX markets - making better returns possible beyond the coupon rates on those bonds. I used to have an anger problem too. Got better after Ted departed - although I miss him greatly.

There was indeed a Japan Fund (SJPNX, etc; its catchy logo was stylish JF) that had many subadvisors over its life, 1990s-2014, Scudder, Fido, Nomura. In 2014, it was merged into Matthew's Japan MJFOX.
https://www.businesswire.com/news/home/20141007005176/en/Matthews-Japan-Fund-Merger-with-the-Japan-Fund-of-Nomura-Partners-Funds-Inc.-to-Close-on-October-20-2014

https://www.cnbc.com/2023/05/19/asia-markets.html
Around the time I bought DODGX in 1991, I also bought The Japan Fund. I can't remember the ticker. I thought it would be a classic blood-in-the-streets purchase. In those days people convinced themselves that Tokyo real estate was worth more than everything in these United States. And then their market crashed hard.
After many years, I think it was sold because we needed tires for one of the vehicles. Saved us from taking equity out of the house in Marin county. And it got the kids to daycare, and us to work. So I don't regret the tradeoff.

Junk I own:
PRCPX. +3.33%. YTD
TUHYX. +4.52%
HYDB. +1.14%
****************
YTD is a long way from 5 years. But there are the dividends in the meantime. If rates stand still or come down, junk will do OK at the very least, along with a stock recovery. I'm always fully invested. The cash I hold is held in the funds I own. I'm aware of 5% CD rates. The mechanics of initiating such accounts is the bugga-boo for me.
...And of course, my own mileage certainly HAS varied---- by a huge amount--- to the downside in TUHYX. At least I'm "in the black" with the other two.

@stillers, you seem to have quite an anger problem. Bottom line is I never once said a CD ladder wasn't a good idea. I tried to covey that bond funds also may be turning the corner and starting to give decent returns - for anyone who chooses that investment path. Even at your dismay and scorn.

Ah, c'mon man!
If I really had an anger problem and dealt in scorn, I'd ask you if you think the Bills will EVER win a Super Bowl! Or even ever get there again and, well, lose again!
And I'd be sure to give you 0:13 to reply, make sure all your players have their helmets, and warn you about drifting too far to the right!
My only purpose on this thread was to point up that bond fund investors generally seek 4%-5% TRs. And that those rates of return are currently available in non-callable CDs, with higher rates having been available at the peak.
Also, many investors don't seem to understand that those incredibly unsexy CDs are there for the taking, if they could only get out of their own way.
So while bond fund investors over the next 5 years will be putting in time and effort trying to get their 4%-5% TRs, I'll be putting on a slew of golf courses, knowing that we have a 5+-yr CD ladder in place of those bond funds that is paying in excess of 5%.
No need for anyone to read that again s-l-o-w-l-y, unless of course you still don't get it.
BTW, I NEVER stated that CDs were the only option. But hey, it's the internet, so feel free to parrot it over-and-over-and-over again and it will become a fact (to some/most).