Matthews Asia Credit Opportunities Fund

Portfolio Holdings: 12/31/2018

Security Currency Country Sector Quantity Value
Zhongsheng Group Holdings, Ltd., Cnv., 0.000%, 05/23/2023 Hong Kong Dollar China/Hong Kong Consumer Discretionary 17,000,000 1,997,001
Debt and Asset Trading Corp., 1.000%, 10/10/2025 U.S. Dollar Vietnam Financials 2,700,000 1,856,250
Standard Chartered PLC, 6.500%, 12/29/2049 U.S. Dollar China/Hong Kong Financials 1,850,000 1,810,688
Ctrip.com International, Ltd., Cnv., 1.250%, 09/15/2022 U.S. Dollar China/Hong Kong Consumer Discretionary 1,850,000 1,788,758
SoftBank Group Corp., 6.000%, 07/19/2049 U.S. Dollar Japan Communication Services 2,000,000 1,659,000
China Overseas Finance Investment Cayman V, Ltd., Cnv., 0.000%, 01/05/2023 U.S. Dollar China/Hong Kong Real Estate 1,400,000 1,490,542
Chinalco Capital Holdings, Ltd., 4.000%, 08/25/2021 U.S. Dollar China/Hong Kong Materials 1,543,000 1,483,269
Olam International, Ltd., 4.500%, 04/12/2021 U.S. Dollar Singapore Consumer Staples 1,500,000 1,475,112
Wanda Properties International Co., Ltd., 7.250%, 01/29/2024 U.S. Dollar China/Hong Kong Real Estate 1,550,000 1,473,765
West China Cement, Ltd., 6.500%, 09/11/2019 U.S. Dollar China/Hong Kong Materials 1,440,000 1,443,825
Socialist Republic of Vietnam, 5.500%, 03/12/2028 U.S. Dollar Vietnam Foreign Government Bonds 1,440,000 1,425,787
TBG Global Pte, Ltd., 5.250%, 02/10/2022 U.S. Dollar Indonesia Communication Services 1,400,000 1,369,712
KWG Group Holdings, Ltd., 6.000%, 09/15/2022 U.S. Dollar China/Hong Kong Real Estate 1,500,000 1,336,364
Krung Thai Bank Public Co., Ltd., 5.200%, 12/26/2024 U.S. Dollar Thailand Financials 1,300,000 1,311,090
ICTSI Treasury BV, 4.625%, 01/16/2023 U.S. Dollar Philippines Industrials 1,300,000 1,281,280
Huaneng Hong Kong Capital, Ltd., 3.600%, 04/30/2067 U.S. Dollar China/Hong Kong Utilities 1,400,000 1,262,519
PB International BV, 7.625%, 01/26/2022 U.S. Dollar Indonesia Consumer Discretionary 1,200,000 1,159,882
Modernland Overseas Pte, Ltd., 6.950%, 04/13/2024 U.S. Dollar Indonesia Real Estate 1,400,000 1,150,814
HSBC Holdings PLC, 6.375%, 12/29/2049 U.S. Dollar China/Hong Kong Financials 1,100,000 1,056,000
CIFI Holdings Group Co., Ltd., 6.875%, 04/23/2021 U.S. Dollar China/Hong Kong Real Estate 1,000,000 978,105
China Mengniu Dairy Co., Ltd., Cnv., 0.000%, 06/05/2022 U.S. Dollar China/Hong Kong Consumer Staples 1,000,000 950,791
Listrindo Capital BV, 4.950%, 09/14/2026 U.S. Dollar Indonesia Utilities 1,000,000 886,500
Alam Synergy Pte, Ltd., 6.950%, 03/27/2020 U.S. Dollar Indonesia Real Estate 900,000 856,620
CP Foods Holdings, Ltd., Cnv., 0.500%, 09/22/2021 U.S. Dollar Thailand Consumer Staples 800,000 821,864
ICTSI Treasury BV, 5.875%, 09/17/2025 U.S. Dollar Philippines Industrials 800,000 812,400
Johnson Electric Holdings, Ltd., Cnv., 1.000%, 04/02/2021 U.S. Dollar China/Hong Kong Industrials 750,000 807,956
Sri Lanka Government Bond, 6.125%, 06/03/2025 U.S. Dollar Sri Lanka Foreign Government Bonds 900,000 807,881
KWG Group Holdings, Ltd., 8.975%, 01/14/2019 U.S. Dollar China/Hong Kong Real Estate 800,000 801,622
Bharti Airtel, Ltd., 4.375%, 06/10/2025 U.S. Dollar India Communication Services 850,000 773,266
Shimao Property Holdings, Ltd., 4.750%, 07/03/2022 U.S. Dollar China/Hong Kong Real Estate 800,000 752,578
China Minmetals Corp., 3.750%, 05/13/2067 U.S. Dollar China/Hong Kong Materials 800,000 722,637
Sprint Communications, Inc., 6.000%, 11/15/2022 U.S. Dollar United States Communication Services 420,000 412,159
Socialist Republic of Vietnam, 4.800%, 11/19/2024 U.S. Dollar Vietnam Foreign Government Bonds 400,000 403,173
Currency Contracts, Chinese Yuan Renminbi on 01/17/19 @ 6.9635000 Chinese Renminbi China/Hong Kong 5,879,088 11,732
Currency Contracts, Chinese Yuan Renminbi on 01/17/19 @ 6.9575000 Chinese Renminbi China/Hong Kong -5,879,088 -11,004
Net Cash n.a. 1,133,031


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