Matthews Pacific Tiger Fund

Portfolio Holdings: 31 December 2018

Security Country Sector Shares Value
Tencent Holdings, Ltd. China/Hong Kong Communication Services 857,100 34,418,983
Ping An Insurance Group Co. of China, Ltd. H Shares China/Hong Kong Financials 3,514,000 31,011,999
Inner Mongolia Yili Industrial Group Co., Ltd. A Shares China/Hong Kong Consumer Staples 8,532,309 28,588,929
China Resources Land, Ltd. China/Hong Kong Real Estate 6,725,111 25,875,310
NAVER Corp. South Korea Communication Services 230,265 25,259,431
AIA Group, Ltd. China/Hong Kong Financials 2,985,600 24,818,193
DKSH Holding AG Switzerland Industrials 342,614 23,614,193
Central Pattana Public Co., Ltd. Thailand Real Estate 9,625,800 22,269,183
Kotak Mahindra Bank, Ltd. India Financials 1,236,607 22,256,004
Sinopharm Group Co., Ltd. H Shares China/Hong Kong Health Care 5,277,600 22,170,118
DB Insurance Co., Ltd. South Korea Financials 341,006 21,515,345
Delta Electronics, Inc. Taiwan Information Technology 5,059,032 21,488,268
Dairy Farm International Holdings, Ltd. China/Hong Kong Consumer Staples 2,362,000 21,369,111
Housing Development Finance Corp., Ltd. India Financials 749,528 21,132,231
Tata Power Co., Ltd. India Utilities 18,974,451 20,872,910
PT Bank Central Asia Indonesia Financials 11,444,700 20,739,071
China Resources Beer Holdings Co., Ltd. China/Hong Kong Consumer Staples 5,909,086 20,643,033
Alibaba Group Holding, Ltd. ADR China/Hong Kong Consumer Discretionary 142,800 20,156,308
China Mobile, Ltd. ADR China/Hong Kong Communication Services 416,695 19,893,056
Hong Kong Exchanges & Clearing, Ltd. China/Hong Kong Financials 676,700 19,588,316
ITC, Ltd. India Consumer Staples 4,686,873 18,907,939
PT Telekomunikasi Indonesia Persero Indonesia Communication Services 70,887,700 18,577,815
Yum China Holdings, Inc. China/Hong Kong Consumer Discretionary 547,500 18,463,222
Sun Pharmaceutical Industries, Ltd. India Health Care 2,971,549 18,323,581
Samsung Electronics Co., Ltd. South Korea Information Technology 514,510 17,932,821
Public Bank BHD Malaysia Financials 2,842,550 17,036,147
Vietnam Dairy Products JSC Vietnam Consumer Staples 3,231,452 16,763,082
HDFC Bank, Ltd. India Financials 541,508 16,456,699
Container Corp. of India, Ltd. India Industrials 1,630,204 16,057,836
Cognizant Technology Solutions Corp. Class A United States Information Technology 253,400 16,036,894
Cheil Worldwide, Inc. South Korea Communication Services 783,505 15,819,068
PT Indofood CBP Sukses Makmur Indonesia Consumer Staples 21,502,300 15,672,367
President Chain Store Corp. Taiwan Consumer Staples 1,483,000 15,107,055
GAIL India, Ltd. India Utilities 2,871,379 14,818,591
Fuyao Glass Industry Group Co., Ltd. H Shares China/Hong Kong Consumer Discretionary 4,528,000 14,487,401
SM Prime Holdings, Inc. Philippines Real Estate 20,218,975 13,765,129
Guotai Junan Securities Co., Ltd. H Shares China/Hong Kong Financials 6,672,000 13,494,191
Titan Co., Ltd. India Consumer Discretionary 981,174 13,084,469
E-Mart, Inc. South Korea Consumer Staples 71,649 11,742,543
Wise Talent Information Technology Co., Ltd. China/Hong Kong Communication Services 3,149,400 11,661,689
Kasikornbank Public Co., Ltd. Thailand Financials 1,958,200 11,206,004
S-1 Corp. South Korea Industrials 115,957 10,444,236
Baidu, Inc. ADR China/Hong Kong Communication Services 60,070 9,869,264
PT Surya Citra Media Indonesia Communication Services 74,099,900 9,680,569
GT Capital Holdings, Inc. Philippines Financials 489,871 9,082,899
Dabur India, Ltd. India Consumer Staples 1,256,830 7,752,687
iQIYI, Inc. ADR China/Hong Kong Communication Services 456,500 7,121,841
United Spirits, Ltd. India Consumer Staples 775,018 7,058,306
Synnex Technology International Corp. Taiwan Information Technology 5,449,311 6,505,105
PT Mitra Keluarga Karyasehat Indonesia Health Care 57,528,200 6,300,898
IHH Healthcare BHD Malaysia Health Care 4,716,500 6,151,708
Thermax, Ltd. India Industrials 371,105 5,954,814
Amorepacific Corp. South Korea Consumer Staples 30,788 5,797,609
The Siam Cement Public Co., Ltd. Thailand Materials 419,400 5,655,206
Orion Holdings Corp. South Korea Consumer Staples 318,140 4,875,600
PT Telekomunikasi Indonesia Persero ADR Indonesia Communication Services 177,500 4,684,740
Genting BHD Malaysia Consumer Discretionary 3,075,250 4,541,005
Tasly Pharmaceutical Group Co., Ltd. A Shares China/Hong Kong Health Care 1,390,705 3,901,433
LINE Corp. ADR Japan Communication Services 86,100 2,944,387
Green Cross Corp. South Korea Health Care 19,342 2,362,739
Just Dial, Ltd. India Communication Services 312,807 2,248,422
IHH Healthcare BHD Malaysia Health Care 126,000 166,515
Net Cash United States 30,820,987 30,820,987

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.

Investors should ascertain from their professional advisers the consequences of investing in the Fund under the relevant laws of the jurisdictions to which they are subject, including the tax consequences and any exchange control requirement. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before making an investment decision. The current prospectus contains this and other information. Applications for shares may only be made on the Fund’s most recent prospectus which is available at Please read the prospectus carefully before investing.