Matthews Asia Value Fund


Top 10 Holdings as of 6/30/2020

Security Sector Country % Net Assets
Bharti Infratel, Ltd. Communication Services India 6.6
Cie Financiere Richemont SA Consumer Discretionary Switzerland 4.5
CK Hutchison Holdings, Ltd. Industrials China/Hong Kong 4.4
China Isotope & Radiation Corp. Health Care China/Hong Kong 3.9
Straits Trading Co., Ltd. Materials Singapore 3.9
Prosus N.V. Consumer Discretionary China/Hong Kong 3.8
NAVER Corp. Communication Services South Korea 3.8
China Mobile, Ltd. Communication Services China/Hong Kong 3.4
Geumhwa PSC Co., Ltd. Industrials South Korea 3.3
Samsung Electronics Co., Ltd., Pfd. Information Technology South Korea 3.2
Total 40.8
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 6/30/2020

  Fund MSCI All Country Asia ex Japan IndexDifference
Consumer Discretionary 14.9 17.7 -2.8
Communication Services 13.7 13.7 0.0
Industrials 12.4 5.8 6.6
Health Care 12.3 4.6 7.7
Materials 5.7 3.8 1.9
Information Technology 5.0 18.9 -13.9
Financials 3.9 19.3 -15.4
Consumer Staples 3.4 5.4 -2.0
Real Estate 0.0 4.9 -4.9
Energy 0.0 3.3 -3.3
Utilities 0.0 2.6 -2.6
Cash and Other Assets, Less Liabilities 28.7 0.0 28.7
  Fund MSCI All Country Asia ex Japan IndexDifference
South Korea 21.8 13.0 8.8
China/Hong Kong 17.2 54.6 -37.4
Japan 8.1 0.0 8.1
India 7.6 9.0 -1.4
Singapore 6.6 2.8 3.8
Switzerland 4.5 0.0 4.5
Netherlands 3.8 0.0 3.8
Taiwan 1.6 13.6 -12.0
Thailand 0.0 2.5 -2.5
Malaysia 0.0 2.0 -2.0
Indonesia 0.0 1.6 -1.6
Philippines 0.0 0.9 -0.9
Cash and Other Assets, Less Liabilities 28.7 0.0 28.7
Not all countries are included in the benchmark index. 
  Fund MSCI All Country Asia ex Japan Index Difference
Mega Cap (over $25B) 23.4 56.8 -33.4
Large Cap ($10B-$25B) 7.6 22.0 -14.4
Mid Cap ($3B-$10B) 9.8 17.8 -8.0
Small Cap (under $3B) 30.4 3.3 27.1
Cash and Other Assets, Less Liabilities 28.7 0.0 28.7
Equity market cap of issuer.
  Fund
Common Equities and ADRs 63.2
Preferred Equities 8.0
Cash and Other Assets, Less Liabilities 28.7
Source: FactSet Research Systems.

Portfolio Characteristics as of 6/30/2020

Number of Securities1

27

Weighted Average
Market Cap

$53.1 billion

P/E using FY1 estimates

11.1x

P/E using FY2 estimates

9.4x

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.