Matthews Emerging Asia Fund

Portfolio Holdings: 12/31/2018

Security Country Sector Shares Value
Vinh Hoan Corp. Vietnam Consumer Staples 3,648,160 14,929,862
Saigon Beer Alcohol Beverage Corp. Vietnam Consumer Staples 1,226,670 14,181,643
Cosco Capital, Inc. Philippines Consumer Staples 103,332,600 13,185,542
British American Tobacco Bangladesh Co., Ltd. Bangladesh Consumer Staples 306,755 12,949,156
Phu Nhuan Jewelry JSC Vietnam Consumer Discretionary 3,095,523 12,505,413
PT Gudang Garam Indonesia Consumer Staples 2,005,200 11,683,675
Square Pharmaceuticals, Ltd. Bangladesh Health Care 3,706,390 11,216,124
PT Kino Indonesia Indonesia Consumer Staples 57,504,900 11,196,301
PT Bank Mandiri Persero Indonesia Financials 21,792,900 11,179,120
BRAC Bank, Ltd. Bangladesh Financials 12,728,656 11,029,479
Sampath Bank PLC Sri Lanka Financials 8,406,406 10,801,014
PT Ramayana Lestari Sentosa Indonesia Consumer Discretionary 99,165,900 9,803,404
Indus Motor Co., Ltd. Pakistan Consumer Discretionary 1,084,910 9,533,451
Nam Long Investment Corp. Vietnam Real Estate 7,913,321 8,836,032
Taisun International Holding Corp. Vietnam Consumer Staples 2,127,000 8,786,929
Berger Paints Bangladesh, Ltd. Bangladesh Materials 547,198 8,766,255
John Keells Holdings PLC Sri Lanka Industrials 9,253,493 8,079,731
Luk Fook Holdings International, Ltd. China/Hong Kong Consumer Discretionary 2,797,000 7,981,882
PC Jeweller, Ltd. India Consumer Discretionary 6,189,535 7,622,981
Meezan Bank, Ltd. Pakistan Financials 11,418,816 7,600,752
PT Adira Dinamika Multi Finance Indonesia Financials 11,372,900 7,197,037
Tongda Group Holdings, Ltd. China/Hong Kong Information Technology 69,640,000 6,910,506
PT Bank Tabungan Pensiunan Nasional Syariah Indonesia Financials 47,530,100 5,935,505
Ceylon Cold Stores PLC Sri Lanka Consumer Staples 1,387,119 5,445,333
Vakrangee, Ltd. India Information Technology 11,406,947 5,434,820
ICI Pakistan, Ltd. Pakistan Materials 936,350 5,358,850
Teejay Lanka PLC Sri Lanka Consumer Discretionary 29,116,858 5,173,854
Shakey's Pizza Asia Ventures, Inc. Philippines Consumer Discretionary 22,796,200 5,158,786
Mobile World Investment Corp. Vietnam Consumer Discretionary 1,360,605 5,108,334
Thien Long Group Corp. Vietnam Industrials 1,717,046 4,829,319
GlaxoSmithKline Consumer Healthcare Pakistan, Ltd. Pakistan Consumer Staples 2,493,557 4,785,725
Shriram Transport Finance Co., Ltd. India Financials 268,352 4,763,621
Military Commercial Joint Stock Bank Vietnam Financials 5,602,258 4,714,747
PT Hexindo Adiperkasa Indonesia Industrials 22,802,000 4,519,172
National Seed JSC Vietnam Consumer Staples 1,126,522 4,371,070
Hascol Petroleum, Ltd. Pakistan Consumer Discretionary 3,902,125 4,156,768
Emperador, Inc. Philippines Consumer Staples 30,712,800 4,152,667
Shifa International Hospitals, Ltd. Pakistan Health Care 2,783,351 4,139,332
PAK Suzuki Motor Co., Ltd. Pakistan Consumer Discretionary 3,287,600 4,124,659
PT Matahari Department Store Indonesia Consumer Discretionary 10,458,400 4,070,545
Praj Industries, Ltd. India Industrials 2,525,370 3,964,664
Marico Bangladesh, Ltd. Bangladesh Consumer Staples 275,493 3,932,307
PT Mayora Indah Indonesia Consumer Staples 21,437,800 3,908,022
STI Education Systems Holdings, Inc. Philippines Consumer Discretionary 254,154,000 3,818,231
Lanka Orix Leasing Co. PLC Sri Lanka Financials 7,511,241 3,691,966
Olympic Industries, Ltd. Bangladesh Consumer Staples 1,416,833 3,651,005
Domesco Medical Import Export JSC Vietnam Health Care 1,104,310 3,586,169
PT BFI Finance Indonesia Indonesia Financials 73,579,500 3,402,668
Tien Phong Plastic JSC Vietnam Industrials 1,861,224 3,249,820
The City Bank, Ltd. Bangladesh Financials 8,021,270 2,908,653
Ceylon Tobacco Co. PLC Sri Lanka Consumer Staples 361,292 2,795,124
Caplin Point Laboratories, Ltd. India Health Care 489,805 2,677,620
PT Catur Sentosa Adiprana Indonesia Consumer Discretionary 70,131,000 2,667,715
Yoma Strategic Holdings, Ltd. Singapore Real Estate 10,610,166 2,645,563
Lix Detergent JSC Vietnam Consumer Staples 1,254,405 2,591,015
Oil Search, Ltd. Australia Energy 467,309 2,353,839
Akzo Nobel Pakistan, Ltd. Pakistan Materials 1,975,300 2,188,911
Expolanka Holdings PLC Sri Lanka Industrials 94,231,424 2,060,829
Pakistan Petroleum, Ltd. Pakistan Energy 1,670,095 1,798,747
Future Bright Holdings, Ltd. China/Hong Kong Consumer Discretionary 17,196,000 1,661,770
Poly Medicure, Ltd. India Health Care 234,582 747,507
Hum Network, Ltd. Pakistan Communication Services 17,939,500 568,687
Dinh Vu Port Investment & Development JSC Vietnam Industrials 252,030 455,209
Net Cash n.a. 1,629,322


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