Matthews Asia

What Matthews Asia does

Matthews Asia (legal entity Matthews International Capital Management, LLC) is a privately held, employee-owned investment management firm founded in 1991 and headquartered in San Francisco. It manages approximately 30+ year-old specialist strategies focused on Asia and Emerging Markets equities, operating through a dual-platform structure of mutual funds and an active ETF suite of 12 funds listed on NYSE Arca spanning Global Emerging Markets, pan-Asia themes, and single-country strategies (China, India, Japan, Korea). Under CEO Cooper Abbott and Chairman Jeffrey Lovell, with CIO Sean Taylor leading the investment team, the firm differentiates through proprietary on-the-ground fundamental research and high active share portfolios, exemplified by the MEM ETF's 67.4% active share and 72 holdings versus a 1,204-position benchmark.

The firm generates revenue through recurring management fees on both mutual fund and ETF products, with ETF gross expense ratios ranging from 0.79% to 0.99% (reduced by contractual waivers to net fees of approximately 0.89% for most ETFs). Distribution is multi-channel: direct mutual fund purchase through accessportals, the NYSE Arca exchange for ETFs, Foreside Funds Distributors LLC for U.S. mutual fund distribution, Picton S.A. for Latin America, and institutional sales and consultant engagement. Customer segments span retail individual investors, wealth advisors, and institutional investors including pensions, endowments, and family offices.

The operating footprint includes a U.S. headquarters, a regional office in Hong Kong, active marketing presence through a research/insights hub, video/webcast content, industry conference participation, and email/newsletter distribution. Product expansion has accelerated since 2022, with eight active ETF launches, a mutual fund to ETF conversion (Korea), and deepening single-country coverage led by returning Portfolio Manager Tiffany Hsiao in late 2025.

Name

Matthews Asia

Legal name

Matthews International Capital Management, LLC

Website

https://matthewsasia.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

101–250 employees

Short description

Matthews Asia is a privately held, employee-owned investment manager founded in 1991 that runs active Asia and Emerging Markets equity strategies through 12 ETFs and a parallel mutual fund lineup, serving retail investors, wealth advisors, and institutional clients across the U.S. and Latin America.

Ownership category

akta.pro rank

Product category

Asset Management — Asia & Emerging Markets Equity Funds

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Global/International & Emerging Markets Mutual Funds (FSAAAEAK)

akta.pro secondary industry

Sector & Thematic Mutual Funds (FSAAAEAJ)

Keywords

• Emerging markets funds
• Asia equity investing
• Active etf management
• Mutual fund management
• Investment management services

Headquarters

HQ city

Luxembourg

HQ country

Luxembourg

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. ETF Management Fees: Matthews Asia generates revenue through management fees charged on ETFs, expressed as expense ratios. ETF fees range from 0.79% to 0.99% gross expense ratio, with contractual waivers reducing net fees.
2. Mutual Fund Management Fees: Revenue is generated through management fees on mutual funds, similar to ETF structure, based on assets under management.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Matthews Asia is a private investment management firm that manages actively managed equity funds focused on Asia and Emerging Markets. Its offerings span 12 ETFs and a parallel lineup of mutual funds across Global Emerging Markets, pan-Asia, and single-country strategies (China, India, Japan, Korea, and emerging Asia), distributed to retail and institutional investors via direct channels, NYSE Arca, and authorized intermediaries.

Product overview

Matthews Asia is a private investment management firm focused on Asia and Emerging Markets, offering a dual-platform product structure consisting of actively managed ETFs (Exchange Traded Funds) and Mutual Funds. The ETF platform includes 12 funds spanning Global Emerging Markets (MEM, MEMX, MEMS, EMSF), pan-Asian strategies (MINV, ASIA, ADVE), and single-country funds (MCH, MCHS, INDE, JPAN, MKOR). The Mutual Fund platform mirrors these strategies with corresponding fund share classes, providing both institutional and retail investors access to active management approaches. The firm distinguishes itself through on-the-ground fundamental research, high active share portfolios, and specialized expertise in China, India, Japan, Korea, and broader emerging markets.

Differentiator

Problem solved

Functional benefit

Brands

• Matthews Asia Funds: The firm's primary mutual fund brand encompassing various Asia and Emerging Markets equity strategies

Products and services

• Matthews Emerging Markets Equity Active ETF (MEM) Actively managed emerging markets ETF seeking long-term capital appreciation through a core approach, investing at least 80% of net assets in common and preferred stocks of companies located in emerging market countries.
• Matthews Emerging Markets ex China Active ETF (MEMX) Actively managed ETF focusing on emerging markets excluding China, seeking long-term capital appreciation by investing at least 80% of net assets in companies in emerging market countries excluding China.
• Matthews Emerging Markets Discovery Active ETF (MEMS) Actively managed ETF offering exposure to smaller, entrepreneurial companies with strong business models in emerging markets, investing at least 65% of net assets in small companies and at least 80% in emerging market companies.
• Matthews Emerging Markets Sustainable Future Active ETF (EMSF) Actively managed ETF focused on companies making positive environmental, social and economic impact in emerging markets, investing at least 80% of net assets in companies meeting ESG standards.
• Matthews Asia Innovators Active ETF (MINV) High-conviction concentrated equity portfolio of innovative companies in Asia, investing in companies that are innovators in products, services, processes, business models, or technology.
• Matthews Pacific Tiger Active ETF (ASIA) Actively managed ETF offering exposure to companies across the market cap spectrum in Asia ex Japan, seeking alpha by capitalizing on the rising Asia consumer.
• Matthews Asia Dividend Active ETF (ADVE) Total return strategy with emphasis on current income, investing at least 80% of net assets in dividend-paying equity securities of companies located in Asia.
• Matthews China Active ETF (MCH) High-conviction equity portfolio seeking companies benefiting from China's domestic consumption, investing at least 80% of net assets in common and preferred stocks of companies located in China.
• Matthews China Innovators Active ETF (MCHS) Offers exposure to smaller, entrepreneurial companies in China, seeking alpha in China's lesser known small entrepreneurial companies invested in industries leveraged to China's innovative economy.
• Matthews India Active ETF (INDE) Unconstrained all-cap strategy focused on Indian companies with sustainable competitive edge and pricing power, targeting growth opportunities through a fundamental bottom-up approach.
• Matthews Japan Active ETF (JPAN) High-conviction growth strategy seeking alpha in Japan through an unconstrained all-cap approach, investing in companies positioned to benefit from Asia's growth.
• Matthews Korea Active ETF (MKOR) Unconstrained all-cap strategy focused on secular growth opportunities in Korea, seeking companies with sustainable business models and strong governance.
• Emerging Markets Equity Fund (Mutual Fund)

Quantifiable outcome

• MEM ETF 1-Year Return: 54.57% vs Benchmark 55.15%
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and regional.

• Foreside Funds Distributors LLCcoreChannel Partner/ Reseller/ DistributorForeside Funds Distributors LLC serves as the distributor for Matthews Asia Funds in the United States, facilitating mutual fund distribution to investors through various channels.
• Picton S.A.regionalChannel Partner/ Reseller/ DistributorPicton S.A. distributes Matthews Asia Funds in Latin America, expanding the firm's reach beyond the United States to regional investors.
• NYSE ArcacoreTechnology or IntegrationNYSE Arca is the exchange where Matthews Asia ETFs are listed and traded, providing secondary market liquidity and price discovery for investors.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• abrdn (formerly Aberdeen Standard Investments): Global asset manager with a long-standing Asia and emerging markets equity franchise built on bottom-up, on-the-ground fundamental research. Highly comparable in product mix (Asia/EM mutual funds and ETFs), research-led philosophy, and historical heritage as a regional specialist.
• Lazard Asset Management: Operates a leading active emerging and frontier markets equity platform with EM equity mutual funds and Lazard-sponsored ETFs. Directly comparable in offering active EM/Asia mandates to institutional and retail clients through active management.
• WisdomTree: Specialist ETF issuer with significant emerging markets and single-country Asia exposure (e.g., China, India, Japan, Korea funds). Comparable as a publicly listed sponsor of thematic and country-specific active/smart-beta ETFs targeting the same investor base.
• VanEck: Niche ETF sponsor with strong emerging markets, China, and country-specific product lines. Comparable as a specialist offering differentiated, often thematic or country-focused ETFs competing in the same retail and RIA channels.
• Schroders: Global active asset manager with deep emerging markets and Asia equity heritage, offering mutual funds and increasingly ETFs. Highly comparable as a research-led, active specialist in EM/Asia with similar institutional and retail distribution.

Broad incumbents

• Franklin Templeton: Large incumbent global asset manager with active EM/Asia mutual funds (including Templeton EM) and a growing active ETF lineup. Comparable in product breadth but much larger in scale and distribution; former employer of several Matthews PMs.
• Invesco: Global asset manager with active EM/Asia mutual funds and a broad ETF platform (Invesco QQQ, EM ETFs). Comparable as a competitor across both mutual fund and active ETF channels serving the same retail and institutional EM/Asia demand.
• BlackRock (iShares): World's largest asset manager and dominant ETF issuer (iShares) including EM and country-specific products. Comparable as the dominant incumbent that defines distribution shelf space and price benchmarks in passive and increasingly active ETFs.
• T. Rowe Price: Large active asset manager with established emerging markets and Asia equity mutual funds and a recently launched active ETF lineup. Comparable as a competing active manager targeting institutional and retail EM/Asia allocations with a parallel mutual fund/ETF dual-platform strategy.

Emerging players

• KraneShares: Niche ETF sponsor specializing in China, Asia, and ESG/sustainability strategies. Comparable as an emerging specialist competitor in the same country-specific and thematic China/Asia ETF category.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/matthewsasia
• LinkedInlinkedin.com/company/matthews-asia

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Matthews Asia