Message to Matthews Emerging Markets Small Companies Fund Shareholders

We are pleased to announce that Alex Zarechnak has been named a Co-Manager of the Matthews Emerging Markets Small Companies Fund. Alex joins a portfolio management team comprised of Lead Manager Vivek Tanneeru and Co-Manager Jeremy Sutch.

Alex has extensive experience in Emerging Markets, and his addition as a Co-Manager formalizes his role and responsibilities on the Fund. Since joining the firm in 2020, Alex has regularly had discussions with the Matthews Emerging Markets Small Companies team that are in addition to the more formal broader investment team meetings.

Alex is also a Lead Manager on the Matthews Emerging Markets Equity Fund, the Matthews Emerging Markets Equity Active ETF and the Matthews Emerging Markets ex China Active ETF, and his appointment as a Co-Manager on the Matthews Emerging Markets Small Companies Fund ensures his research is leveraged across the firm’s Emerging Markets strategies.

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.

ETFs may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market prices (not NAV) and are not individually redeemed from the Fund.