Matthews Asia Credit Opportunities Fund


As of 9/30/2018

  Average Annual Total Returns
  Inception
Date
Sep '18 3 MO YTD 1 YR 3 YR 5 YR 10 YR Since
Inception
Matthews Asia Credit Opportunities Fund 4/29/16 0.36% 0.56% -2.22% -1.54% n.a. n.a. n.a. 4.16%
J.P. Morgan Asia Credit Index n.a. -0.12% 1.17% -1.41% -1.01% n.a. n.a. n.a. 2.34%


Assumes reinvestment of all dividends and/or distributions before taxes. All performance quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate with market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the return figures quoted. Returns would have been lower if certain of the Fund’s fees and expenses had not been waived. For the most recent month-end performance, please select the monthly tab at the top of the page. 

All performance is in US$. Source: BNY Mellon Investment Servicing (US) Inc., Index data from J.P. Morgan.



Additional performance, attribution, liquidity, value at risk (VaR), security classification and holdings information is available on request for certain time periods.

Gross Expense Ratio:

1.76%
After fee waiver and expense reimbursement: 1.15% 1
             

1 Matthews has contractually agreed (i) to waive fees and reimburse expenses to the extent needed to limit Total Annual Fund Operating Expenses (excluding Rule 12b-1 fees, taxes, interest, brokerage commissions, short sale dividend expenses, expenses incurred in connection with any merger or reorganization or extraordinary expenses such as litigation) of the Institutional Class to 0.90% first by waiving class specific expenses (i.e., shareholder service fees specific to a particular class) of the Institutional Class and then, to the extent necessary, by waiving non-class specific expenses of the Institutional Class, and (ii) if any Fund-wide expenses (i.e., expenses that apply to both the Institutional Class and the Investor Class) are waived for the Institutional Class to maintain the 0.90% expense limitation, to waive an equal amount (in annual percentage terms) of those same expenses for the Investor Class. The Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement for the Investor Class may vary from year to year and will in some years exceed 0.90%. If the operating expenses fall below the expense limitation in a year within three years after Matthews has made a waiver or reimbursement, the Fund may reimburse Matthews up to an amount that does not cause the expenses for that year to exceed the lesser of (i) the expense limitation applicable at the time of that fee waiver and/or expense reimbursement or (ii) the expense limitation in effect at the time of recoupment. This agreement will remain in place until April 30, 2019 and may be terminated at any time by the Board of Trustees on behalf of the Fund on 60 days' written notice to Matthews. Matthews may decline to renew this agreement by written notice to the Trust at least 30 days before its annual expiration date.
As of 9/30/2018

  Average Annual Total Returns
  Inception
Date
Sep '18 3 MO YTD 1 YR 3 YR 5 YR 10 YR Since
Inception
Matthews Asia Credit Opportunities Fund 4/29/16 0.36% 0.56% -2.22% -1.54% n.a. n.a. n.a. 4.16%
J.P. Morgan Asia Credit Index n.a. -0.12% 1.17% -1.41% -1.01% n.a. n.a. n.a. 2.34%


Assumes reinvestment of all dividends and/or distributions before taxes. All performance quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate with market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the return figures quoted. Returns would have been lower if certain of the Fund’s fees and expenses had not been waived. For the most recent month-end performance, please select the monthly tab at the top of the page. 

All performance is in US$. Source: BNY Mellon Investment Servicing (US) Inc., Index data from J.P. Morgan.



Additional performance, attribution, liquidity, value at risk (VaR), security classification and holdings information is available on request for certain time periods.

Gross Expense Ratio:

1.76%
After fee waiver and expense reimbursement: 1.15% 1
             

1 Matthews has contractually agreed (i) to waive fees and reimburse expenses to the extent needed to limit Total Annual Fund Operating Expenses (excluding Rule 12b-1 fees, taxes, interest, brokerage commissions, short sale dividend expenses, expenses incurred in connection with any merger or reorganization or extraordinary expenses such as litigation) of the Institutional Class to 0.90% first by waiving class specific expenses (i.e., shareholder service fees specific to a particular class) of the Institutional Class and then, to the extent necessary, by waiving non-class specific expenses of the Institutional Class, and (ii) if any Fund-wide expenses (i.e., expenses that apply to both the Institutional Class and the Investor Class) are waived for the Institutional Class to maintain the 0.90% expense limitation, to waive an equal amount (in annual percentage terms) of those same expenses for the Investor Class. The Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement for the Investor Class may vary from year to year and will in some years exceed 0.90%. If the operating expenses fall below the expense limitation in a year within three years after Matthews has made a waiver or reimbursement, the Fund may reimburse Matthews up to an amount that does not cause the expenses for that year to exceed the lesser of (i) the expense limitation applicable at the time of that fee waiver and/or expense reimbursement or (ii) the expense limitation in effect at the time of recoupment. This agreement will remain in place until April 30, 2019 and may be terminated at any time by the Board of Trustees on behalf of the Fund on 60 days' written notice to Matthews. Matthews may decline to renew this agreement by written notice to the Trust at least 30 days before its annual expiration date.
 
Annual Returns for Years Ended:  
12/31/2017 7.86%


Assumes reinvestment of all dividends and/or distributions before taxes. All performance quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate with market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the return figures quoted. Returns would have been lower if certain of the Fund’s fees and expenses had not been waived. For the most recent month-end performance, please select the monthly tab at the top of the page. 

All performance is in US$. Source: BNY Mellon Investment Servicing (US) Inc., Index data from J.P. Morgan.



Additional performance, attribution, liquidity, value at risk (VaR), security classification and holdings information is available on request for certain time periods.
as of 9/30/2018


Assumes reinvestment of all dividends and/or distributions before taxes. All performance quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate with market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the return figures quoted. Returns would have been lower if certain of the Fund’s fees and expenses had not been waived. For the most recent month-end performance, please select the monthly tab at the top of the page. 

All performance is in US$. Source: BNY Mellon Investment Servicing (US) Inc., Index data from J.P. Morgan.



Additional performance, attribution, liquidity, value at risk (VaR), security classification and holdings information is available on request for certain time periods.
Yield as of 9/30/2018
  Yield to Worst 30-Day Yield 30-Day Yield
(excluding expense waiver)
Matthews Asia Credit Opportunities Fund 6.71%4.79%4.51%

Assumes reinvestment of all dividends and/or distributions before taxes. All performance quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate with market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the return figures quoted. Returns would have been lower if certain of the Fund’s fees and expenses had not been waived. For the most recent month-end performance, please select the monthly tab at the top of the page. 

All performance is in US$. Source: BNY Mellon Investment Servicing (US) Inc., Index data from J.P. Morgan.



Additional performance, attribution, liquidity, value at risk (VaR), security classification and holdings information is available on request for certain time periods.
Yield to worst is the lowest potential yield that can be received on a bond without the issuer actually defaulting. Yield to worst is for the bond-only portion of the portfolio and is calculated by making worst-case scenario assumptions on the issue by calculating the returns that would be received if provisions, including prepayment, call or sinking fund, are used by the issuer. It does not represent the yield that an investor should expect to receive. Past yields are no guarantee of future yields. 
Source: FactSet Research Systems 
The 30-Day Yield represents net investment income earned by the Fund over the 30-day period ended 9/30/17, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30-day period. The 30-Day Yield should be regarded as an estimate of the Fund’s rate of investment income, and it may not equal the Fund’s actual income distribution rate.
Source: BNY Mellon Investment Servicing (US) Inc.