March 22, 2011
Dear Valued Shareholder,
We are writing to inform you that effective today, portfolio management responsibilities for the Matthews Asian Growth and Income Fund have been assumed by Matthews’ Chief Investment Officer, Robert Horrocks, PhD, and Jesper Madsen, CFA. Robert and Jesper will serve as Co-Lead Managers of the Fund. Former Lead Manager, Andrew Foster, has left Matthews to pursue other opportunities.
Robert and Jesper have played an integral role in the management of the Fund in the past. Robert Horrocks has served as Co-Manager of the Matthews Asian Growth and Income Fund since April 2009. Additionally, as Chief Investment Officer, he oversees the firm's investment process and investment professionals. Jesper Madsen joined Matthews in 2004, and currently serves as Lead Manager of the Matthews Asia Dividend and Matthews China Dividend Funds. Jesper began his career at Matthews as an Analyst supporting the Matthews Asian Growth and Income strategy. We believe Robert and Jesper are well-equipped to guide the Fund in its pursuit of long-term, risk-adjusted growth while providing some current income.
We are also pleased to announce that Yu Zhang, CFA, has been named Co-Manager of the Matthews Asia Dividend Fund. Yu has supported the Matthews Asia Dividend strategy as an Analyst since joining Matthews in 2007.
We are very proud of the investment team we have built at Matthews over the last 20 years and look forward to continuing to work with them in support of our Asia investment strategies.
As always, we appreciate the opportunity to serve you.
William J. Hackett Mark W. Headley
Chief Executive Officer Chairman
Matthews International Capital Management, LLC Matthews International Capital Management, LLC