Matthews Asia Dividend Fund

Portfolio Holdings: 31 March 2018

Security Country Sector Shares Value
Minth Group, Ltd. China/Hong Kong Consumer Discretionary 4,808,000 21,926,895
Shenzhou International Group Holdings, Ltd. China/Hong Kong Consumer Discretionary 2,003,000 21,093,882
Hyundai Mobis Co., Ltd. South Korea Consumer Discretionary 84,354 20,157,367
China Construction Bank Corp. H Shares China/Hong Kong Financials 18,540,000 19,060,530
Nitori Holdings Co., Ltd. Japan Consumer Discretionary 85,200 14,829,140
LG Chem, Ltd., Pfd. South Korea Materials 69,614 14,106,564
HSBC Holdings PLC China/Hong Kong Financials 1,468,000 13,846,675
China Gas Holdings, Ltd. China/Hong Kong Utilities 3,510,800 12,781,116
Rohm Co., Ltd. Japan Information Technology 130,300 12,183,325
China Petroleum & Chemical Corp. H Shares China/Hong Kong Energy 13,740,000 12,062,537
United Overseas Bank, Ltd. Singapore Financials 573,600 12,028,110
Sands China, Ltd. China/Hong Kong Consumer Discretionary 2,047,200 11,019,670
Taiwan Semiconductor Manufacturing Co., Ltd. ADR Taiwan Information Technology 256,239 10,997,388
Samsung Electronics Co., Ltd., Pfd. South Korea Information Technology 5,749 10,976,435
Pigeon Corp. Japan Consumer Staples 239,400 10,745,288
Japan Tobacco, Inc. Japan Consumer Staples 353,000 10,071,914
Hoya Corp. Japan Health Care 200,100 10,025,960
Postal Savings Bank of China Co., Ltd. H Shares China/Hong Kong Financials 15,448,000 9,709,963
Kao Corp. Japan Consumer Staples 124,000 9,267,907
PT United Tractors Indonesia Energy 3,965,500 9,224,000
MISUMI Group, Inc. Japan Industrials 336,000 9,194,314
BGF Retail Co., Ltd. South Korea Consumer Staples 62,515 8,944,120
Woori Bank South Korea Financials 643,940 8,722,635
Anritsu Corp. Japan Information Technology 710,500 8,586,506
Thai Beverage Public Co., Ltd. Thailand Consumer Staples 14,287,400 8,499,127
Mitsubishi UFJ Financial Group, Inc. Japan Financials 1,254,500 8,240,276
Sumitomo Mitsui Financial Group, Inc. Japan Financials 194,600 8,167,826
Vietnam Dairy Products JSC Vietnam Consumer Staples 892,580 8,100,312
Sun Art Retail Group, Ltd. China/Hong Kong Consumer Staples 6,957,000 8,093,297
Fuji Seal International, Inc. Japan Materials 198,400 7,846,514
Ping An Insurance Group Co. of China, Ltd. H Shares China/Hong Kong Financials 770,000 7,839,273
Breville Group, Ltd. Australia Consumer Discretionary 824,709 7,409,652
Bharti Infratel, Ltd. India Telecom Services 1,319,749 6,801,933
Seven & i Holdings Co., Ltd. Japan Consumer Staples 156,500 6,674,671
Eiken Chemical Co., Ltd. Japan Health Care 265,200 6,652,861
CapitaLand, Ltd. Singapore Real Estate 2,432,900 6,623,951
Fuyao Glass Industry Group Co., Ltd. H Shares China/Hong Kong Consumer Discretionary 1,667,600 6,427,617
ITC, Ltd. India Consumer Staples 1,608,391 6,300,724
Hua Hong Semiconductor, Ltd. China/Hong Kong Information Technology 3,157,000 6,258,178
Sohgo Security Services Co., Ltd. Japan Industrials 118,800 5,790,576
Nifco, Inc. Japan Consumer Discretionary 170,000 5,680,171
Fanhua, Inc. ADR China/Hong Kong Financials 201,064 5,564,157
Far East Horizon, Ltd. China/Hong Kong Financials 5,053,000 5,343,922
Samsung Fire & Marine Insurance Co., Ltd. South Korea Financials 21,155 5,332,554
Yuexiu Transport Infrastructure, Ltd. China/Hong Kong Industrials 6,784,000 5,221,022
Shanghai Jin Jiang International Hotels Group Co., Ltd. H Shares China/Hong Kong Consumer Discretionary 11,794,000 4,828,754
Crystal International Group, Ltd. China/Hong Kong Consumer Discretionary 4,765,500 4,803,056
NTT DoCoMo, Inc. Japan Telecom Services 185,600 4,698,607
Dairy Farm International Holdings, Ltd. China/Hong Kong Consumer Staples 583,500 4,638,825
China Steel Chemical Corp. Taiwan Materials 881,000 4,621,771
Mitsubishi Pencil Co., Ltd. Japan Industrials 205,000 4,612,354
China Mobile, Ltd. China/Hong Kong Telecom Services 489,500 4,491,189
CapitaLand Retail China Trust, REIT Singapore Real Estate 3,710,520 4,469,995
GrameenPhone, Ltd. Bangladesh Telecom Services 780,007 4,332,070
Minda Industries, Ltd. India Consumer Discretionary 257,875 4,217,147
S-1 Corp. South Korea Industrials 42,517 3,836,849
HKBN, Ltd. China/Hong Kong Telecom Services 3,189,135 3,762,847
Gujarat Pipavav Port, Ltd. India Industrials 1,666,160 3,713,125
HSBC Holdings PLC ADR China/Hong Kong Financials 73,200 3,509,590
Ascendas India Trust Singapore Real Estate 4,476,800 3,447,500
Globe Telecom, Inc. Philippines Telecom Services 110,390 3,431,605
Cafe de Coral Holdings, Ltd. China/Hong Kong Consumer Discretionary 1,348,000 3,366,500
Taiwan Semiconductor Manufacturing Co., Ltd. Taiwan Information Technology 392,000 3,306,838
PT Cikarang Listrindo Indonesia Utilities 37,350,700 3,119,906
Greencross, Ltd. Australia Consumer Discretionary 748,854 3,044,167
China Mobile, Ltd. ADR China/Hong Kong Telecom Services 30,700 1,404,734
China Petroleum & Chemical Corp. ADR China/Hong Kong Energy 11,800 1,018,523
Net Cash United States 26,744,390 26,744,390


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 global.matthewsasia.com. Please read the prospectus carefully before investing.