Message to Matthews Asian Growth and Income Fund Shareholders

We are pleased to announce that Elli Lee has been named a Co-Manager of the Matthews Asian Growth and Income Fund. She joins a portfolio management team comprised of Lead Managers Robert Horrocks, PhD, and Kenneth Lowe, CFA, and Co-Manager Siddharth Bhargava.

Elli has significant experience investing in Asia markets, and her appointment as a Co-Manager on the Fund aligns portfolio management responsibilities across similar strategies. Elli is also a Co-Manager on the Matthews Asia Dividend and Matthews China Dividend Funds, and her addition to the Matthews Asian Growth and Income Fund further consolidates the investment personnel responsible for the income-leaning strategies as well as formalizes the current informal relationships that currently exist.

Elli joined the firm in 2016 and is also a Lead Manager of the Matthews Korea Fund. She has in-depth experience conducting company research, supporting portfolio risk management, and discussing and debating the overall structure and position sizes implemented in portfolios.

We are very proud of the depth and diversity of the investment team that we have built at Matthews for over 30 years.

Thank you for your investment in the Matthews Asia Funds.

Yours truly,

Cooper Abbott Chief Executive Officer Matthews Asia		Robert Horrocks, PhD Chief Investment Officer Matthews Asia

You should consider the investment objectives, risks, charges and expenses of the Matthews Asia Funds carefully before making an investment decision. A prospectus or a summary 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 markets. 

Investments involve risk, including possible loss of principal. Investments in international, emerging and frontier markets involve risks such as economic, social and political instability, market illiquidity, currency fluctuations, high levels of volatility, and limited regulation, which may adversely affect the value of the Fund's assets. Additionally, investing in emerging and frontier securities involves greater risks than investing in securities of developed markets, as issuers in these countries generally disclose less financial and other information publicly or restrict access to certain information from review by non-domestic authorities. Emerging and frontier markets tend to have less stringent and less uniform accounting, auditing and financial reporting standards, limited regulatory or governmental oversight, and limited investor protection or rights to take action against issuers, resulting in potential material risks to investors. There is no guarantee that the Fund or the companies in its portfolio will pay or continue to pay dividends.