Matthews Asia Dividend Fund

Portfolio Holdings: 3/31/2018

This portfolio data should not be relied upon as a complete listing of this Fund's holdings, as information on a particular holding may be withheld if it is in the Fund's best interest to do so.

Security Country Sector Shares Value
Minth Group, Ltd. China/Hong Kong Consumer Discretionary 62,069,000 284,778,581
Shenzhou International Group Holdings, Ltd. China/Hong Kong Consumer Discretionary 25,854,000 273,919,505
Hyundai Mobis Co., Ltd. South Korea Consumer Discretionary 1,086,117 259,440,869
China Construction Bank Corp. H Shares China/Hong Kong Financials 238,266,000 248,869,818
Nitori Holdings Co., Ltd. Japan Consumer Discretionary 1,126,600 197,567,305
LG Chem, Ltd., Pfd. South Korea Materials 909,328 185,103,780
HSBC Holdings PLC China/Hong Kong Financials 18,914,400 178,787,455
China Gas Holdings, Ltd. China/Hong Kong Utilities 45,339,200 166,221,353
Rohm Co., Ltd. Japan Information Technology 1,663,100 157,862,854
China Petroleum & Chemical Corp. H Shares China/Hong Kong Energy 176,940,000 156,960,479
United Overseas Bank, Ltd. Singapore Financials 7,406,100 155,840,787
Sands China, Ltd. China/Hong Kong Consumer Discretionary 26,478,400 143,892,482
Samsung Electronics Co., Ltd., Pfd. South Korea Information Technology 74,364 142,996,996
Pigeon Corp. Japan Consumer Staples 3,077,300 139,038,108
Japan Tobacco, Inc. Japan Consumer Staples 4,631,500 132,308,133
Hoya Corp. Japan Health Care 2,587,600 130,706,485
Postal Savings Bank of China Co., Ltd. H Shares China/Hong Kong Financials 199,348,000 126,437,405
MISUMI Group, Inc. Japan Industrials 4,431,500 122,733,263
PT United Tractors Indonesia Energy 51,000,100 118,982,368
Kao Corp. Japan Consumer Staples 1,582,600 118,811,310
BGF Retail Co., Ltd. South Korea Consumer Staples 816,439 116,809,220
Taiwan Semiconductor Manufacturing Co., Ltd. ADR Taiwan Information Technology 2,642,940 115,655,054
Anritsu Corp. Japan Information Technology 9,384,700 114,781,133
Thai Beverage Public Co., Ltd. Thailand Consumer Staples 189,041,400 112,743,879
Woori Bank South Korea Financials 7,958,827 108,217,615
Vietnam Dairy Products JSC Vietnam Consumer Staples 11,887,938 108,195,558
Mitsubishi UFJ Financial Group, Inc. Japan Financials 16,226,800 107,837,103
Sumitomo Mitsui Financial Group, Inc. Japan Financials 2,516,800 106,773,432
Sun Art Retail Group, Ltd. China/Hong Kong Consumer Staples 88,093,500 103,088,303
Ping An Insurance Group Co. of China, Ltd. H Shares China/Hong Kong Financials 9,962,500 102,720,128
Fuji Seal International, Inc. Japan Materials 2,552,700 101,796,762
Breville Group, Ltd. Australia Consumer Discretionary 10,644,019 95,909,854
Seven & i Holdings Co., Ltd. Japan Consumer Staples 2,162,900 92,642,065
Bharti Infratel, Ltd. India Telecom Services 17,014,689 88,389,002
CapitaLand, Ltd. Singapore Real Estate 32,225,000 88,247,885
Eiken Chemical Co., Ltd. Japan Health Care 3,337,200 84,277,816
Fuyao Glass Industry Group Co., Ltd. H Shares China/Hong Kong Consumer Discretionary 21,248,000 82,189,267
ITC, Ltd. India Consumer Staples 20,701,500 81,617,716
Hua Hong Semiconductor, Ltd. China/Hong Kong Information Technology 40,482,000 81,073,312
Sohgo Security Services Co., Ltd. Japan Industrials 1,537,000 75,533,622
Nifco, Inc. Japan Consumer Discretionary 2,181,000 73,436,124
Yuexiu Transport Infrastructure, Ltd. China/Hong Kong Industrials 92,646,000 71,572,495
Taiwan Semiconductor Manufacturing Co., Ltd. Taiwan Information Technology 8,443,469 71,517,879
Fanhua, Inc. ADR China/Hong Kong Financials 2,590,600 69,998,012
Far East Horizon, Ltd. China/Hong Kong Financials 65,303,000 69,358,889
Samsung Fire & Marine Insurance Co., Ltd. South Korea Financials 272,807 68,822,419
Shanghai Jin Jiang International Hotels Group Co., Ltd. H Shares China/Hong Kong Consumer Discretionary 152,204,000 62,798,407
Dairy Farm International Holdings, Ltd. China/Hong Kong Consumer Staples 7,861,300 62,497,437
Crystal International Group, Ltd. China/Hong Kong Consumer Discretionary 60,531,000 61,419,342
NTT DoCoMo, Inc. Japan Telecom Services 2,367,700 60,360,811
CapitaLand Retail China Trust, REIT Singapore Real Estate 49,800,000 60,065,337
Mitsubishi Pencil Co., Ltd. Japan Industrials 2,628,400 59,706,470
China Mobile, Ltd. China/Hong Kong Telecom Services 6,332,000 58,035,281
Minda Industries, Ltd. India Consumer Discretionary 3,327,962 54,908,367
HKBN, Ltd. China/Hong Kong Telecom Services 45,415,623 53,658,991
Gujarat Pipavav Port, Ltd. India Industrials 21,381,946 48,028,952
Globe Telecom, Inc. Philippines Telecom Services 1,447,730 45,090,332
HSBC Holdings PLC ADR China/Hong Kong Financials 944,100 45,005,247
Ascendas India Trust Singapore Real Estate 57,863,800 44,573,419
Café de Coral Holdings, Ltd. China/Hong Kong Consumer Discretionary 17,330,000 43,357,637
PT Cikarang Listrindo Indonesia Utilities 477,480,200 39,883,946
Greencross, Ltd. Australia Consumer Discretionary 9,560,282 38,953,663
China Mobile, Ltd. ADR China/Hong Kong Telecom Services 469,900 21,497,925
China Petroleum & Chemical Corp. ADR China/Hong Kong Energy 153,000 13,537,440
Net Cash n.a. 331,937,556


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