Matthews Asia Credit Opportunities Fund

Portfolio Holdings: 3/31/2018

Security Currency Country Sector Quantity Value
Debt and Asset Trading Corp., 1.000%, 10/10/2025 U.S. Dollar Vietnam Financials 2,700,000 1,895,117
Wanda Properties International Co., Ltd., 7.250%, 01/29/2024 U.S. Dollar China/Hong Kong Real Estate 1,550,000 1,580,819
Huaneng Power International, Inc., 3.480%, 06/13/2021 Chinese Renminbi China/Hong Kong Utilities 10,000,000 1,516,352
Tsinghua Unic, Ltd., 4.750%, 01/31/2021 U.S. Dollar China/Hong Kong Industrials 1,500,000 1,471,952
Socialist Republic of Vietnam, 5.500%, 03/12/2028 U.S. Dollar Vietnam Foreign Government Bonds 1,470,000 1,466,325
SoftBank Group Corp., 6.000%, 07/19/2049 U.S. Dollar Japan Telecom Services 1,500,000 1,413,750
Modernland Overseas Pte, Ltd., 6.950%, 04/13/2024 U.S. Dollar Indonesia Real Estate 1,400,000 1,374,268
Theta Capital Pte, Ltd., 6.750%, 10/31/2026 U.S. Dollar Indonesia Real Estate 1,500,000 1,369,044
Standard Chartered PLC, 6.500%, 12/29/2049 U.S. Dollar China/Hong Kong Financials 1,300,000 1,327,625
Delta Investment Horizon International, Ltd., Cnv., 3.000%, 05/26/2020 U.S. Dollar Indonesia Telecom Services 1,300,000 1,303,250
Ctrip.com International, Ltd., Cnv., 1.250%, 09/15/2022 U.S. Dollar China/Hong Kong Consumer Discretionary 1,200,000 1,246,548
DFCC Bank PLC, 9.625%, 10/31/2018 U.S. Dollar Sri Lanka Financials 1,200,000 1,227,756
HSBC Holdings PLC, 6.375%, 12/29/2049 U.S. Dollar China/Hong Kong Financials 1,100,000 1,131,625
China Hongqiao Group, Ltd., 6.875%, 05/03/2018 U.S. Dollar China/Hong Kong Materials 1,100,000 1,099,836
Bangkok Dusit Medical Services Public Co., Ltd., Cnv., 0.000%, 09/18/2019 Thai Baht Thailand Health Care 30,000,000 1,078,110
Jababeka International BV, 6.500%, 10/05/2023 U.S. Dollar Indonesia Real Estate 1,100,000 1,058,826
CP Foods Holdings, Ltd., Cnv., 0.500%, 09/22/2021 U.S. Dollar Thailand Consumer Staples 800,000 995,000
Vipshop Holdings, Ltd., Cnv., 1.500%, 03/15/2019 U.S. Dollar China/Hong Kong Consumer Discretionary 900,000 966,018
Harvest International Co., Cnv., 0.000%, 11/21/2022 Hong Kong Dollar China/Hong Kong Consumer Discretionary 7,000,000 959,940
Listrindo Capital BV, 4.950%, 09/14/2026 U.S. Dollar Indonesia Utilities 1,000,000 945,000
TBG Global Pte, Ltd., 5.250%, 02/10/2022 U.S. Dollar Indonesia Telecom Services 900,000 905,692
Alam Synergy Pte, Ltd., 6.950%, 03/27/2020 U.S. Dollar Indonesia Real Estate 900,000 902,700
Sri Lanka Government Bond, 6.125%, 06/03/2025 U.S. Dollar Sri Lanka Foreign Government Bonds 900,000 896,470
Air China, Ltd., 3.080%, 10/20/2021 Chinese Renminbi China/Hong Kong Industrials 6,000,000 892,382
ICTSI Treasury BV, 5.875%, 09/17/2025 U.S. Dollar Philippines Industrials 800,000 858,344
KWG Property Holding, Ltd., 8.975%, 01/14/2019 U.S. Dollar China/Hong Kong Real Estate 800,000 820,010
PetroChina Co., Ltd., 3.030%, 01/19/2021 Chinese Renminbi China/Hong Kong Energy 5,000,000 756,391
PetroChina Co., Ltd., 3.150%, 03/03/2021 Chinese Renminbi China/Hong Kong Energy 5,000,000 751,875
National Savings Bank, 8.875%, 09/18/2018 U.S. Dollar Sri Lanka Financials 600,000 610,320
China Southern Power Grid Co., Ltd., 3.140%, 03/11/2021 Chinese Renminbi China/Hong Kong Utilities 4,000,000 605,522
State Grid Corp. of China, 3.150%, 11/14/2021 Chinese Renminbi China/Hong Kong Utilities 4,000,000 598,547
Sprint Communications, Inc., 6.000%, 11/15/2022 U.S. Dollar United States Telecom Services 420,000 412,125
Unigroup International Holdings, Ltd., 6.000%, 12/10/2020 U.S. Dollar China/Hong Kong Information Technology 400,000 408,519
Socialist Republic of Vietnam, 4.800%, 11/19/2024 U.S. Dollar Vietnam Foreign Government Bonds 400,000 407,848
Net Cash n.a. 3,423,824


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