Matthews Asian Growth and Income Fund

Portfolio Holdings: 12/31/2018

Security Country Sector Shares Value
Taiwan Semiconductor Manufacturing Co., Ltd. Taiwan Information Technology 7,386,187 53,962,888
AIA Group, Ltd. China/Hong Kong Financials 5,866,200 48,729,433
Tencent Holdings, Ltd. China/Hong Kong Communication Services 856,600 34,332,828
Samsung Electronics Co., Ltd. South Korea Information Technology 909,313 31,654,748
United Overseas Bank, Ltd. Singapore Financials 1,740,700 31,489,242
Broadcom, Inc. United States Information Technology 120,000 30,513,600
Jardine Matheson Holdings, Ltd. China/Hong Kong Industrials 408,700 28,457,269
Housing Development Finance Corp., Ltd. India Financials 979,513 27,597,084
Techtronic Industries Co., Ltd. China/Hong Kong Consumer Discretionary 5,140,000 27,276,269
Ascendas, REIT Singapore Real Estate 14,206,400 26,810,201
Advantech Co., Ltd. Taiwan Information Technology 3,866,000 26,573,116
CapitaLand, Ltd., Cnv., 1.950%, 10/17/2023 Singapore Real Estate 37,250,000 25,708,800
LG Household & Health Care, Ltd., Pfd. South Korea Consumer Staples 43,474 25,597,242
PT Bank Rakyat Indonesia Persero Indonesia Financials 98,206,700 25,018,979
Singapore Technologies Engineering, Ltd. Singapore Industrials 9,728,125 24,937,982
Singapore Telecommunications, Ltd. Singapore Communication Services 11,375,800 24,483,389
Taiwan Secom Co., Ltd. Taiwan Industrials 8,269,000 23,902,073
Macquarie Korea Infrastructure Fund South Korea Financials 2,862,946 23,826,276
CK Hutchison Holdings, Ltd. China/Hong Kong Industrials 2,454,172 23,555,660
Prudential PLC United Kingdom Financials 1,313,572 23,455,745
Johnson Electric Holdings, Ltd., Cnv., 1.000%, 04/02/2021 China/Hong Kong Industrials 21,250,000 22,892,094
Bangkok Dusit Medical Services Public Co., Ltd., Cnv., 0.000%, 09/18/2019 Thailand Health Care 623,000,000 22,888,604
Bank of the Philippine Islands Philippines Financials 12,774,954 22,815,422
Cognizant Technology Solutions Corp. Class A United States Information Technology 349,400 22,179,912
China Overseas Finance Investment Cayman V, Ltd., Cnv., 0.000%, 01/05/2023 China/Hong Kong Real Estate 20,800,000 22,145,198
CLP Holdings, Ltd. China/Hong Kong Utilities 1,939,700 21,920,349
Jiangsu Expressway Co., Ltd. H Shares China/Hong Kong Industrials 15,674,000 21,878,068
HKT Trust & HKT, Ltd. China/Hong Kong Communication Services 15,134,000 21,800,988
Kao Corp. Japan Consumer Staples 294,300 21,783,391
Pacific Textiles Holdings, Ltd. China/Hong Kong Consumer Discretionary 24,255,000 21,555,668
Haitian International Holdings, Ltd., Cnv., 2.000%, 02/13/2019 China/Hong Kong Industrials 21,500,000 21,282,162
NetEase, Inc. ADR China/Hong Kong Communication Services 90,400 21,277,448
Vietnam Dairy Products JSC Vietnam Consumer Staples 4,087,063 21,198,920
Pernod Ricard SA France Consumer Staples 128,913 21,157,297
Inner Mongolia Yili Industrial Group Co., Ltd. A Shares China/Hong Kong Consumer Staples 6,308,875 21,071,008
Coway Co., Ltd. South Korea Consumer Discretionary 313,557 20,823,242
Harvest International Co., Cnv., 0.000%, 11/21/2022 China/Hong Kong Consumer Discretionary 171,000,000 20,614,514
Zhongsheng Group Holdings, Ltd., Cnv., 0.000%, 05/23/2023 China/Hong Kong Consumer Discretionary 175,000,000 20,557,365
LG Chem, Ltd., Cnv., 0.000%, 04/16/2021 South Korea Materials 20,600,000 20,412,725
Jiangsu Yanghe Brewery Joint-Stock Co., Ltd. A Shares China/Hong Kong Consumer Staples 1,472,083 20,392,726
Orange Life Insurance, Ltd. South Korea Financials 810,923 20,343,575
HSBC Holdings PLC ADR China/Hong Kong Financials 491,833 20,219,255
Macquarie Group, Ltd. Australia Financials 263,780 20,204,476
CP Foods Holdings, Ltd., Cnv., 0.500%, 09/22/2021 Thailand Consumer Staples 19,600,000 20,135,668
CK Asset Holdings, Ltd. China/Hong Kong Real Estate 2,726,172 19,946,255
Kasikornbank Public Co., Ltd. Thailand Financials 3,451,600 19,768,154
Orora, Ltd. Australia Materials 9,011,165 19,507,765
Venture Corp., Ltd. Singapore Information Technology 1,894,900 19,454,595
Bharti Infratel, Ltd. India Communication Services 5,211,100 19,328,474
Zhejiang Supor Co., Ltd. A Shares China/Hong Kong Consumer Discretionary 2,425,870 18,566,082
Lotte Shopping Co., Ltd., Cnv., 0.000%, 04/04/2023 South Korea Consumer Discretionary 22,600,000,000 18,537,611
Minth Group, Ltd. China/Hong Kong Consumer Discretionary 5,740,000 18,522,812
Midea Group Co., Ltd. A Shares China/Hong Kong Consumer Discretionary 3,423,001 18,481,304
Genting Malaysia BHD Malaysia Consumer Discretionary 24,159,400 17,640,606
China Mengniu Dairy Co., Ltd., Cnv., 0.000%, 06/05/2022 China/Hong Kong Consumer Staples 17,000,000 16,163,447
Domino's Pizza Enterprises, Ltd. Australia Consumer Discretionary 541,502 15,512,491
VTech Holdings, Ltd. China/Hong Kong Information Technology 1,864,800 15,467,272
KDDI Corp. Japan Communication Services 618,000 14,767,061
Huazhu Group, Ltd., Cnv., 0.375%, 11/01/2022 China/Hong Kong Consumer Discretionary 14,521,000 14,185,202
Café de Coral Holdings, Ltd. China/Hong Kong Consumer Discretionary 5,672,000 13,735,689
KT&G Corp. South Korea Consumer Staples 142,105 12,938,177
China Mobile, Ltd. ADR China/Hong Kong Communication Services 210,200 10,089,600
Net Cash n.a. -6,354,124


The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or a recommendation to buy or sell securities or other investments.

Portfolio holdings are subject to change without notice and may not represent current or future portfolio composition.

Unlike the Fund’s regulatory filings, the portfolio data and its presentation in this document are not required to conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation requirements. Therefore, it differs from that in the complete statement of investments in the annual and semiannual report to shareholders filed with the SEC on Form N-CSR, and the complete statement of investments provided in the first and third quarter SEC Form N-Q filings for each fiscal year.

You should carefully consider the investment objectives, risks, charges and expenses of the Matthews Asia Funds before making an investment decision. A prospectus with this and other information about the Funds may be obtained by visiting matthewsasia.com. Please read the prospectus carefully before investing as it explains the risks associated with investing in international and emerging markets. 

Matthews Asia Funds are distributed in the United States by Foreside Funds Distributors LLC
Matthews Asia Funds are distributed in Latin America by HMC Partners