Matthews Emerging Asia 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
Phu Nhuan Jewelry JSC Vietnam Consumer Discretionary 2,063,683 18,004,653
Shenzhou International Group Holdings, Ltd. China/Hong Kong Consumer Discretionary 1,529,000 16,199,541
Cosco Capital, Inc. Philippines Consumer Staples 112,863,600 16,006,720
Saigon Beer Alcohol Beverage Corp. Vietnam Consumer Staples 1,462,000 15,376,403
Masan Group Corp. Vietnam Consumer Staples 3,175,560 15,345,094
PT Bank Mandiri Persero Indonesia Financials 24,454,000 13,712,625
BRAC Bank, Ltd. Bangladesh Financials 11,561,080 13,473,953
Vinh Hoan Corp. Vietnam Consumer Staples 4,421,900 13,200,752
British American Tobacco Bangladesh Co., Ltd. Bangladesh Consumer Staples 313,130 12,930,987
Sampath Bank PLC Sri Lanka Financials 6,649,942 12,812,990
PC Jeweller, Ltd. India Consumer Discretionary 2,519,017 12,485,751
PT Gudang Garam Indonesia Consumer Staples 2,089,900 11,036,105
Balkrishna Industries, Ltd. India Consumer Discretionary 649,064 10,697,522
Nam Long Investment Corp. Vietnam Real Estate 6,525,747 10,446,916
Square Pharmaceuticals, Ltd. Bangladesh Health Care 2,796,774 10,399,259
Indus Motor Co., Ltd. Pakistan Consumer Discretionary 682,950 10,297,513
PT Kino Indonesia Indonesia Consumer Staples 62,128,100 8,936,931
PT Matahari Department Store Indonesia Consumer Discretionary 11,013,200 8,796,823
San Miguel Pure Foods Co., Inc. Philippines Consumer Staples 753,370 8,706,475
Ceylon Cold Stores PLC Sri Lanka Consumer Staples 1,387,119 8,463,475
John Keells Holdings PLC Sri Lanka Industrials 7,687,955 7,880,524
Taisun International Holding Corp. Vietnam Consumer Staples 1,661,000 7,688,128
K-Electric, Ltd. Pakistan Utilities 122,221,500 7,403,191
PT Adira Dinamika Multi Finance Indonesia Financials 11,372,900 7,364,149
Military Commercial Joint Stock Bank Vietnam Financials 4,707,780 7,338,441
Hascol Petroleum, Ltd. Pakistan Consumer Discretionary 3,121,700 7,267,723
Luk Fook Holdings International, Ltd. China/Hong Kong Consumer Discretionary 1,986,000 7,249,089
PT Ramayana Lestari Sentosa Indonesia Consumer Discretionary 73,198,300 7,193,423
STI Education Systems Holdings, Inc. Philippines Consumer Discretionary 254,154,000 7,121,671
Berger Paints Bangladesh, Ltd. Bangladesh Materials 278,522 7,056,382
PAK Suzuki Motor Co., Ltd. Pakistan Consumer Discretionary 1,663,250 6,885,480
Shifa International Hospitals, Ltd. Pakistan Health Care 2,783,351 6,788,833
Shriram Transport Finance Co., Ltd. India Financials 268,352 5,966,486
Vakrangee, Ltd. India Information Technology 1,703,494 5,930,588
Thien Long Group Corp. Vietnam Industrials 1,320,805 5,807,963
Lanka Orix Leasing Co. PLC Sri Lanka Financials 7,511,241 5,674,660
GlaxoSmithKline Consumer Healthcare Pakistan, Ltd. Pakistan Consumer Staples 1,258,357 5,462,133
Tongda Group Holdings, Ltd. China/Hong Kong Information Technology 27,650,000 5,326,409
Shakey's Pizza Asia Ventures, Inc. Philippines Consumer Discretionary 18,868,100 5,234,626
PT Mayora Indah Indonesia Consumer Staples 24,273,200 5,201,085
Mobile World Investment Corp. Vietnam Consumer Discretionary 1,020,454 5,086,328
Tien Phong Plastic JSC Vietnam Industrials 1,861,224 5,073,613
Shriram City Union Finance, Ltd. India Financials 153,789 5,054,460
PT Hexindo Adiperkasa Indonesia Industrials 22,802,000 4,987,385
Emperador, Inc. Philippines Consumer Staples 33,504,400 4,783,182
United Bank, Ltd. Pakistan Financials 2,660,200 4,744,561
The City Bank, Ltd. Bangladesh Financials 9,945,509 4,719,694
Olympic Industries, Ltd. Bangladesh Consumer Staples 1,416,833 4,683,886
Praj Industries, Ltd. India Industrials 3,594,497 4,488,856
The Searle Company, Ltd. Pakistan Health Care 1,452,834 4,418,051
National Seed JSC Vietnam Consumer Staples 979,585 4,354,761
Caplin Point Laboratories, Ltd. India Health Care 489,805 4,318,705
PT BFI Finance Indonesia Indonesia Financials 73,579,500 4,275,547
Marico Bangladesh, Ltd. Bangladesh Consumer Staples 289,217 4,214,665
ICI Pakistan, Ltd. Pakistan Materials 574,900 4,044,676
Pakistan Petroleum, Ltd. Pakistan Energy 2,127,300 3,946,017
Teejay Lanka PLC Sri Lanka Consumer Discretionary 18,872,680 3,877,978
Domesco Medical Import Export JSC Vietnam Health Care 867,970 3,868,658
Akzo Nobel Pakistan, Ltd. Pakistan Materials 1,975,300 3,765,737
Yoma Strategic Holdings, Ltd. Singapore Real Estate 10,610,166 3,450,321
Habib Bank, Ltd. Pakistan Financials 1,885,000 3,405,894
Supreme Industries, Ltd. India Materials 178,934 3,288,480
Expolanka Holdings PLC Sri Lanka Industrials 94,231,424 2,965,536
Red Star Macalline Group Corp., Ltd. H Shares China/Hong Kong Real Estate 2,429,000 2,863,709
VST Industries, Ltd. India Consumer Staples 60,083 2,718,341
National Foods, Ltd. Pakistan Consumer Staples 958,500 2,616,356
Lix Detergent JSC Vietnam Consumer Staples 1,254,405 2,612,705
Oil Search, Ltd. Australia Energy 467,309 2,595,767
PT Catur Sentosa Adiprana Indonesia Consumer Discretionary 70,131,000 2,555,745
Ceylon Tobacco Co. PLC Sri Lanka Consumer Staples 379,231 2,533,078
Meezan Bank, Ltd. Pakistan Financials 3,472,560 2,408,524
Kwality, Ltd. India Consumer Staples 2,533,204 2,311,894
Future Bright Holdings, Ltd. China/Hong Kong Consumer Discretionary 18,612,000 1,738,363
Hum Network, Ltd. Pakistan Consumer Discretionary 17,939,500 1,459,722
Dinh Vu Port Investment & Development JSC Vietnam Industrials 517,520 1,373,013
Nam Long Investment Corp., Rights, expires 03/30/2018 Vietnam Real Estate 6,525,747 1,059,431
Poly Medicure, Ltd. India Health Care 234,582 906,642
Sampath Bank PLC, Rights, expires 04/02/2018 Sri Lanka Financials 1,534,602 488,865
Tongda Hong Tai Holdings, Ltd. China/Hong Kong Information Technology 691,250 137,402
Net Cash n.a. 11,702,544


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