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MAINX faltering out of the gate?

MaxBialystockMaxBialystock
edited March 2012 in Fund Discussions
Surely it goes without saying that the fund is too young to truly either rejoice or despair about its performance. But I do note that it was as high as $10.41 after starting its life at $10.00 per share and is already back down to $10.16 tonight. So much of everything else was up, including MAPIX and MACSX, but MAINX fell a penny. What's up wit' dat? (9 cent dividend was paid out, though----- just before I bought-in with a small position, less than 3% of my total: a simple transfer from out of MAPIX, in my Trad. IRA.

Comments

  • scott
    edited March 2012
    Long-term, I think this fund is fine, but I just think it's maybe before its time a little. Emerging market bonds are just not a large enough asset class, I think, and I'd rather have a diversified fund if I was going to be in it. If I was going to have MAINX at all, it would be a very small supporting position. It would be, like, 1-2-3% and again, I just would rather have one position in a diversified EM fund. I would definitely not have double digit % allocation to this fund. I do have a lot of concern about EM bond fund flows - there was a situation at one point last year where there was significant outflows and it really highlighted how "emerging" this asset class still kind of is - that there was not a much of a (thin, in other words) market for people looking to sell some issues, etc.
  • MaxBialystockMaxBialystock
    SFGIX comes to mind. More global, but not exclusively bonds, either.
  • scott
    SFGIX, from what I've read, is a global allocation fund, and has done fine in the little time it's been out. MAINX and the Asian Bond ETF (forget what the heck the ticker is for that) are, I think, the trend of EM bond products going a little too far at this point. It'll probably be much worse though, given how much people want yield. I wouldn't be surprised if there was a Kazakhstan bond ETF at some point (and I think keeping rates low and creating this race for yield is going to cause an s-storm sometime down the road, but we'll see.)
  • MaxBialystockMaxBialystock
    I think you make sense, Scott. Yes. Nevertheless, I just got into MAINX, and the position fills just 2.72% of my portfolio....... SFGIX, MSCFX, and DODIX are soon in the offing for me. Surely not in that order, though.
  • tgeno
    I'm also into MAINX but with slightly under 3% of my portfolio. That's usually the percentage I use for an initial stake in any position. I'm invested in other Matthews funds at much higher percentages. I'm sitting on about 27% cash, and not in a hurry to reduce it.
  • scott
    edited March 2012
    Reply to @MaxBialystock: 2.72% should be just fine. Again, I do like EM bonds as an asset class long-term, but I just feel like (and maybe I'm wrong), it's a little early to start coming out with regional funds.
  • Old_JoeOld_Joe
    "27% cash, and not in a hurry to reduce it"... Man, do I hear that!
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