Matthews Asia Small Companies Fund


Top 10 Holdings as of 4/30/2018

Security Sector Country % Net Assets
Merck, Ltd. Health Care India 2.0
Shanghai Haohai Biological Technology Co., Ltd. Health Care China/Hong Kong 2.0
Vitasoy International Holdings, Ltd. Consumer Staples China/Hong Kong 2.0
GRUH Finance, Ltd. Financials India 2.0
Times China Holdings, Ltd. Real Estate China/Hong Kong 1.9
Silergy Corp. Information Technology China/Hong Kong 1.9
Cosmecca Korea Co., Ltd. Consumer Staples South Korea 1.9
Value Added Technology Co., Ltd. Health Care South Korea 1.9
Incross Co., Ltd. Consumer Discretionary South Korea 1.7
CLIO Cosmetics Co., Ltd. Consumer Staples South Korea 1.7
Total 19.0
Top 10 holdings may combine more than one security from the same issuer and related depositary receipts.
Source: BNY Mellon Investment Servicing (US) Inc.

Portfolio Breakdown (%) as of 3/31/2018

  Fund MSCI All Country Asia ex Japan Small Cap IndexDifference
Information Technology 21.0 19.2 1.8
Health Care 14.2 10.2 4.0
Consumer Discretionary 13.4 16.5 -3.1
Industrials 12.9 13.3 -0.4
Financials 11.3 8.6 2.7
Consumer Staples 9.9 5.2 4.7
Materials 5.8 9.5 -3.7
Real Estate 5.2 11.6 -6.4
Energy 2.8 2.0 0.8
Utilities 0.0 2.8 -2.8
Telecom Services 0.0 1.1 -1.1
Cash and Other Assets, Less Liabilities 3.5 0.0 3.5
  Fund MSCI All Country Asia ex Japan Small Cap IndexDifference
China/Hong Kong 32.0 29.5 2.5
Taiwan 14.7 19.1 -4.4
South Korea 13.9 18.7 -4.8
India 10.5 14.6 -4.1
Indonesia 6.2 2.6 3.6
Thailand 5.4 4.0 1.4
Japan 3.7 0.0 3.7
Malaysia 3.1 3.6 -0.5
Singapore 2.0 6.0 -4.0
United States 1.8 0.0 1.8
Philippines 1.1 0.9 0.2
Australia 1.0 0.0 1.0
Vietnam 0.9 0.0 0.9
Pakistan 0.0 0.9 -0.9
Cash and Other Assets, Less Liabilities 3.5 0.0 3.5
Not all countries where the Fund may invest are included in the benchmark index.
  Fund MSCI All Country Asia ex Japan Small Cap Index Difference
Mega Cap (over $25B) 0.0 0.0 0.0
Large Cap ($10B-$25B) 0.0 0.0 0.0
Mid Cap ($3B-$10B) 6.8 11.9 -5.1
Small Cap (under $3B) 89.6 88.1 1.5
Cash and Other Assets, Less Liabilities 3.5 0.0 3.5
Equity market cap of issuer. The Fund defines Small Companies as companies with market capitalization generally between $100 million and $3 billion or the largest company included in the Fund’s primary benchmark, the MSCI All Country Asia ex Japan Small Cap Index. The Portfolio’s market cap exposure breakdown presented is used for comparison purposes and the definition of the capitalization breakdown is from MSCI.
Source: FactSet Research Systems.

Portfolio Characteristics as of 3/31/2018

Number of Securities1

79

Weighted Average
Market Cap

$1.2 billion

P/E using FY1 estimates

14.9x

P/E using FY2 estimates

12.2x

1Source: BNY Mellon Investment Servicing (US) Inc.
Source: FactSet Research Systems unless otherwise noted. Sector data (excluding Government Bonds) based on MSCI’s revised Global Industry Classification Standards. For more details, visit www.msci.com.

Additional performance, attribution, liquidity, value at risk (VaR), security classification and holdings information is available on request for certain time periods.

Percentage values in data are rounded to the nearest tenth of one percent, so the values may not sum to 100% due to rounding.  Percentage values may be derived from different data sources and may not be consistent with other Fund literature. 

The P/E Ratio is the share price of a stock as of the report date, divided by the forecasted earnings per share for a 12-month period (FY1) and 24 month period (FY2). For the Fund, this is the weighted harmonic average estimated P/E ratio of all the underlying stocks in the Fund, excluding negative earners. There is no guarantee that the composition of the Fund will remain unchanged, or that forecasted earnings of a stock will be realized. Information provided is for illustrative purposes only.

Index Definitions

The information contained in this document does not, in any way, constitute investment advice. It should not be assumed that any investment will be profitable or will equal the performance of the portfolios or any securities or any sectors mentioned herein. The information does not constitute a recommendation to buy or sell any securities mentioned. Information on this document is from sources considered reliable, but no representation or warranty is made as to its completeness or accuracy.