Matthews India Fund

Portfolio Holdings: 3/31/2018

Security Sector Shares Value
Suzuki Motor Corp. Consumer Discretionary 2,427,000 131,769,968
HDFC Bank, Ltd. Financials 4,345,349 126,584,265
IndusInd Bank, Ltd. Financials 4,431,794 122,945,354
Eicher Motors, Ltd. Industrials 266,539 116,740,523
ITC, Ltd. Consumer Staples 27,471,965 108,310,945
Kotak Mahindra Bank, Ltd. Financials 6,697,258 108,154,448
Bharat Financial Inclusion, Ltd. Financials 4,199,665 71,141,837
Housing Development Finance Corp., Ltd. Financials 2,458,810 69,260,041
Ajanta Pharma, Ltd. Health Care 2,992,070 64,204,873
Shriram City Union Finance, Ltd. Financials 1,873,192 61,564,702
Dabur India, Ltd. Consumer Staples 11,252,176 56,899,451
Cholamandalam Investment and Finance Co., Ltd. Financials 2,512,456 56,237,063
Symphony, Ltd. Consumer Discretionary 1,927,475 53,370,625
VST Industries, Ltd. Consumer Staples 1,167,175 52,806,605
AIA Engineering, Ltd. Industrials 2,362,314 52,207,155
Info Edge India, Ltd. Information Technology 2,780,411 50,200,631
eClerx Services, Ltd. Information Technology 2,661,931 49,275,862
Cognizant Technology Solutions Corp. Class A Information Technology 573,500 46,166,750
Bajaj Corp., Ltd. Consumer Staples 6,253,908 45,480,817
Mphasis, Ltd. Information Technology 3,374,039 43,584,482
Yes Bank, Ltd. Financials 8,888,026 41,972,114
Tata Consultancy Services, Ltd. Information Technology 950,000 41,628,866
Taro Pharmaceutical Industries, Ltd. Health Care 385,900 38,103,766
CRISIL, Ltd. Financials 1,306,990 37,878,696
Emami, Ltd. Consumer Staples 2,250,122 37,130,826
Ashok Leyland, Ltd. Industrials 15,422,659 34,647,923
UPL, Ltd. Materials 3,050,052 34,379,358
Alembic Pharmaceuticals, Ltd. Health Care 3,883,767 32,884,940
DCB Bank, Ltd. Financials 12,604,257 31,512,967
Marico, Ltd. Consumer Staples 6,222,328 31,280,387
Nestle India, Ltd. Consumer Staples 244,636 30,848,269
Zydus Wellness, Ltd. Consumer Staples 1,670,471 30,340,268
Caplin Point Laboratories, Ltd. Health Care 3,177,401 28,015,754
GRUH Finance, Ltd. Financials 3,081,950 27,446,079
InterGlobe Aviation, Ltd. Industrials 1,315,577 26,157,010
Pidilite Industries, Ltd. Materials 1,800,000 25,400,659
Sun Pharmaceutical Industries, Ltd. Health Care 2,959,885 22,624,019
Blue Dart Express, Ltd. Industrials 380,973 22,133,821
Asian Paints, Ltd. Materials 1,176,000 20,292,080
Sundaram Finance, Ltd. Financials 695,531 18,050,598
Eris Lifesciences, Ltd. Health Care 1,400,176 17,294,189
Supreme Industries, Ltd. Materials 871,961 16,025,052
Castrol India, Ltd. Materials 5,032,372 15,902,019
Poly Medicure, Ltd. Health Care 3,913,967 15,127,189
Container Corp. of India, Ltd. Industrials 782,568 15,021,870
Bajaj Finance, Ltd. Financials 488,508 13,354,753
LA Opala RG, Ltd. Consumer Discretionary 2,937,800 12,960,672
IDFC Bank, Ltd. Financials 13,650,467 10,004,156
Mindtree, Ltd. Information Technology 799,610 9,514,840
Axis Bank, Ltd. Financials 1,197,547 9,449,417
Page Industries, Ltd. Consumer Discretionary 22,748 7,945,943
Titan Co., Ltd. Consumer Discretionary 428,691 6,224,883
NMDC, Ltd. Materials 2,713,195 4,971,589
Dixon Technologies India, Ltd. Consumer Discretionary 95,000 4,823,402
Sundaram Finance Holdings, Ltd. Industrials 695,531 3,311,204
HDFC Bank, Ltd. ADR Financials 8,422 831,841
Net Cash n.a. 14,470,139

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 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