Asia Ex-Japan Fund
THIS INFORMATION IS FOR MARKETING PURPOSES ONLY
Please note that this is an actively managed product.
Class I shares are only available to certain qualifying institutional investors.
Asia Ex-Japan Fund
Investment Objective
Seeks capital appreciation, measured in US dollars.
Investment Focus
Analyst run portfolio that looks for favorable growth prospects and attractive valuations in the Asia region (excluding Japan)
Country and industry weights driven by stock selection, not top-down allocations
Typically has been diversified by sector and invests across industries, styles and market capitalizations
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Stock: Stock markets and investments in individual stocks are volatile and can decline significantly in response to or investor perception of, issuer, market, economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions.
Emerging Markets: Emerging markets can have less market structure, depth, and regulatory, custodial or operational oversight and greater political, social, geopolitical and economic instability than developed markets.
Geographic: Because the portfolio may invest a substantial amount of its assets in issuers located in a single country or in a limited number of countries, it may be more volatile than a portfolio that is more geographically diversified.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
- Fund Inception 26-Sep-2005
- Net Assets (US$ M) As of 31-May-25 US$42.94
- Fiscal Year End JANUARY
- SFDR Classification Article 6
- Benchmark MSCI All Country Asia (ex-Japan) Index (net div)
Share Class Information
- Class Inception 19-Feb-2025
- Net Asset Value (NAV) As of 11-Jun-25 $347.08
- Most Recent NAV Change As of 11-Jun-25 $2.29 | 0.66%
- ISIN LU2971678987
- SEDOL BT8SCV3
- WKN A40Z28
- Bloomberg MAXJI1U LX
- CUSIP L6367C609
- Maximum Sales Charge --
- Benchmark MSCI All Country Asia (ex-Japan) Index (net div)
Managers
Top 10 Holdings
As of 31-May-25
- Taiwan Semiconductor Manufacturing Co Ltd
- Tencent Holdings Ltd
- HDFC Bank Ltd
- AIA Group Ltd
- DBS Group Holdings Ltd
- China Construction Bank Corp
- Alibaba Group Holding Ltd
- Samsung Electronics Co Ltd
- Reliance Industries Ltd
- China Merchants Bank Co Ltd
Sanjay Natarajan
General Oversight
Sanjay Natarajan is an investment officer and institutional equity portfolio manager at MFS Investment Management® (MFS®). His responsibilities include communicating investment policy, strategy and positioning and participating in the research process and strategy discussions. His role also includes assessing portfolio risk, customizing portfolios to client objectives and guidelines and managing daily cash flows. He is based in the firm's Singapore office.
Prior to joining the firm in 2007, Sanjay worked for DBS Bank Ltd. (Asia), holding various roles, including serving as COO of Global Corporate and Investment Banking. He also previously worked at McKinsey and Company, k1 Ventures and the Singapore Economic Development Board. He began his career in 1996.
Sanjay earned a bachelor's degree from Dartmouth College and a master's degree from Harvard University.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration and active risk management.
Performance
- 12 Month Total Returns
- Average Annual Total Returns
- Annual Rate of Return
- Pricing & Distributions
- Performance Attribution
12 Month Total Returns (%)
12 Month Total Returns (%)
As of 31-May-25 [updated monthly]
| 12 month period ending: |
31-May-21
or Life
|
31-May-22 | 31-May-23 | 31-May-24 | 31-May-25 | YTD % | Class Inception |
|---|---|---|---|---|---|---|---|
| Class IF1 Shares, US Dollars at NAV | 49.38 | -21.01 | -10.11 | 6.90 | 11.49 | 11.50 | 19-Feb-2025 |
| MSCI All Country Asia (ex-Japan) Index (net div) | 51.52 | -21.60 | -8.08 | 11.23 | 14.83 | - | - |
| 12 month period ending: | Class IF1 Shares, US Dollars at NAV | |
|---|---|---|
| 31-May-21 or Life | 49.38 | |
| 31-May-22 | -21.01 | |
| 31-May-23 | -10.11 | |
| 31-May-24 | 6.90 | |
| 31-May-25 | 11.49 | |
| YTD % | 11.50 | |
| Class Inception | 19-Feb-2025 | 19-Feb-2025 |
Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The Fund's investment strategy was changed on 1 August 2018; performance shown prior to this date reflects the Fund's prior investment strategy.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Average Annual Total Returns (%)
Average Annual Total Returns (%)
Updated monthly as of 31-May-25
Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The Fund's investment strategy was changed on 1 August 2018; performance shown prior to this date reflects the Fund's prior investment strategy.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Annual Rate of Return (%)
As of 31-Dec-24
|Benchmark: MSCI All Country Asia (ex-Japan) Index (net div)
|
Life
|
2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| At NAV | 6.27 | -7.40 | 7.08 | 36.49 | -11.77 | 20.39 | 25.96 | -6.86 | -19.35 | 0.00 | 9.28 |
| MSCI All Country Asia (ex-Japan) Index (net div) | - | -9.17 | 5.44 | 41.72 | -14.37 | 18.17 | 25.02 | -4.72 | -19.67 | 5.98 | 11.96 |
| At NAV | MSCI All Country Asia (ex-Japan) Index (net div) | ||
|---|---|---|---|
| 2024 | 9.28 | 11.96 | |
| 2023 | - | 5.98 | |
| 2022 | -19.35 | -19.67 | |
| 2021 | -6.86 | -4.72 | |
| 2020 | 25.96 | 25.02 | |
| 2019 | 20.39 | 18.17 | |
| 2018 | -11.77 | -14.37 | |
| 2017 | 36.49 | 41.72 | |
| 2016 | 7.08 | 5.44 | |
| 2015 | -7.4 | -9.17 | |
| 6.27 | - |
Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The Fund's investment strategy was changed on 1 August 2018; performance shown prior to this date reflects the Fund's prior investment strategy.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Pricing History
- NAV at Close of Trading on: 11-Jun-25
- Net Asset Value (NAV): $347.08
- Change ($) (since 10-Jun-25): 2.29
- Change (%) (since 10-Jun-25): 0.66
- Market Price (MP):
Historical NAV may not be available for all dates.
Historical MP may not be available for all dates.
Distributions
Performance Attribution
GuideAvailable approximately 15 or 25 days after month end
Quarterly Attribution
Available approximately 25 days after quarter end
Year To Date (YTD)
12 Month Attribution
Calendar Year
-
Overview
Investment Objective
Seeks capital appreciation, measured in US dollars.
Investment Focus
Analyst run portfolio that looks for favorable growth prospects and attractive valuations in the Asia region (excluding Japan)
Country and industry weights driven by stock selection, not top-down allocations
Typically has been diversified by sector and invests across industries, styles and market capitalizations
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Stock: Stock markets and investments in individual stocks are volatile and can decline significantly in response to or investor perception of, issuer, market, economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions.
Emerging Markets: Emerging markets can have less market structure, depth, and regulatory, custodial or operational oversight and greater political, social, geopolitical and economic instability than developed markets.
Geographic: Because the portfolio may invest a substantial amount of its assets in issuers located in a single country or in a limited number of countries, it may be more volatile than a portfolio that is more geographically diversified.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
- Fund Inception 26-Sep-2005
- Net Assets (US$ M) As of 31-May-25 US$42.94
- Fiscal Year End JANUARY
- SFDR Classification Article 6
- Benchmark MSCI All Country Asia (ex-Japan) Index (net div)
Share Class Information
- Class Inception 19-Feb-2025
- Net Asset Value (NAV) As of 11-Jun-25 $347.08
- Most Recent NAV Change As of 11-Jun-25 $2.29 | 0.66%
- ISIN LU2971678987
- SEDOL BT8SCV3
- WKN A40Z28
- Bloomberg MAXJI1U LX
- CUSIP L6367C609
- Maximum Sales Charge --
- Benchmark MSCI All Country Asia (ex-Japan) Index (net div)
Managers
Top 10 Holdings
As of 31-May-25
- Taiwan Semiconductor Manufacturing Co Ltd
- Tencent Holdings Ltd
- HDFC Bank Ltd
- AIA Group Ltd
- DBS Group Holdings Ltd
- China Construction Bank Corp
- Alibaba Group Holding Ltd
- Samsung Electronics Co Ltd
- Reliance Industries Ltd
- China Merchants Bank Co Ltd
Sanjay Natarajan
General Oversight
29YEARS WITH INDUSTRY
17YEARS WITH PORTFOLIOSanjay Natarajan is an investment officer and institutional equity portfolio manager at MFS Investment Management® (MFS®). His responsibilities include communicating investment policy, strategy and positioning and participating in the research process and strategy discussions. His role also includes assessing portfolio risk, customizing portfolios to client objectives and guidelines and managing daily cash flows. He is based in the firm's Singapore office.
Prior to joining the firm in 2007, Sanjay worked for DBS Bank Ltd. (Asia), holding various roles, including serving as COO of Global Corporate and Investment Banking. He also previously worked at McKinsey and Company, k1 Ventures and the Singapore Economic Development Board. He began his career in 1996.
Sanjay earned a bachelor's degree from Dartmouth College and a master's degree from Harvard University.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration and active risk management. -
Performance
Performance
- 12 Month Total Returns
- Average Annual Total Returns
- Annual Rate of Return
- Pricing & Distributions
- Performance Attribution
12 Month Total Returns12 Month Total Returns (%)
12 Month Total Returns (%)
As of 31-May-25 [updated monthly]
12 month period ending: 31-May-21or Life31-May-22 31-May-23 31-May-24 31-May-25 YTD % Class Inception Class IF1 Shares, US Dollars at NAV 49.38 -21.01 -10.11 6.90 11.49 11.50 19-Feb-2025 MSCI All Country Asia (ex-Japan) Index (net div) 51.52 -21.60 -8.08 11.23 14.83 - - 12 month period ending: Class IF1 Shares, US Dollars at NAV 31-May-21 or Life 49.38 31-May-22 -21.01 31-May-23 -10.11 31-May-24 6.90 31-May-25 11.49 YTD % 11.50 Class Inception 19-Feb-2025 19-Feb-2025 Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The Fund's investment strategy was changed on 1 August 2018; performance shown prior to this date reflects the Fund's prior investment strategy.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Average Annual Total ReturnsAverage Annual Total Returns (%)
Average Annual Total Returns (%)
Updated monthly as of 31-May-25
Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
MORNINGSTAR RATINGImportant Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The Fund's investment strategy was changed on 1 August 2018; performance shown prior to this date reflects the Fund's prior investment strategy.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Annual Rate of ReturnAnnual Rate of Return (%)
As of 31-Dec-24
|Benchmark: MSCI All Country Asia (ex-Japan) Index (net div)
annual rate of return table Life2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 At NAV 6.27 -7.40 7.08 36.49 -11.77 20.39 25.96 -6.86 -19.35 0.00 9.28 MSCI All Country Asia (ex-Japan) Index (net div) - -9.17 5.44 41.72 -14.37 18.17 25.02 -4.72 -19.67 5.98 11.96 At NAV MSCI All Country Asia (ex-Japan) Index (net div) 2024 9.28 11.96 2023 - 5.98 2022 -19.35 -19.67 2021 -6.86 -4.72 2020 25.96 25.02 2019 20.39 18.17 2018 -11.77 -14.37 2017 36.49 41.72 2016 7.08 5.44 2015 -7.4 -9.17 6.27 - Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The Fund's investment strategy was changed on 1 August 2018; performance shown prior to this date reflects the Fund's prior investment strategy.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Pricing & DistributionsPricing History
- NAV at Close of Trading on: 11-Jun-25
- Net Asset Value (NAV): $347.08
- Change ($) (since 10-Jun-25): 2.29
- Change (%) (since 10-Jun-25): 0.66
- Market Price (MP):
Maximum data displayed is for the most recent 10 yearsHistorical NAV LookupEnter date for which you wish to obtain a Historical NAV for this fundHistorical NAV may not be available for all dates.
Historical MP LookupEnter date for which you wish to obtain a Historical MP for this fundHistorical MP may not be available for all dates.
Distributions
There are no distributions for this share class or distributions are currently not availablePerformance AttributionPerformance Attribution
GuideAvailable approximately 15 or 25 days after month end
Quarterly Attribution
Available approximately 25 days after quarter end
Year To Date (YTD)
12 Month Attribution
Calendar Year