Matthews Asia Dividend Fund


Top 10 Holdings as of 30 September 2018

Security Sector Country % Net Assets
Shenzhou International Group Holdings, Ltd. Consumer Discretionary China/Hong Kong 3.9
Minth Group, Ltd. Consumer Discretionary China/Hong Kong 3.8
China Petroleum & Chemical Corp. Energy China/Hong Kong 3.2
NTT DoCoMo, Inc. Telecom Services Japan 3.0
Hyundai Mobis Co., Ltd. Consumer Discretionary South Korea 3.0
Taiwan Semiconductor Manufacturing Co., Ltd. Information Technology Taiwan 3.0
Kao Corp. Consumer Staples Japan 3.0
Japan Tobacco, Inc. Consumer Staples Japan 2.7
BGF Retail Co., Ltd. Consumer Staples South Korea 2.6
Pigeon Corp. Consumer Staples Japan 2.6
Total 30.8
Top 10 holdings may combine more than one security from the same issuer and related depositary receipts.
Source: Brown Brothers Harriman (Luxembourg) S.C.A

Portfolio Breakdown (%) as of 30 September 2018

  Fund MSCI All Country Asia Pacific Index (GBP)Difference
Consumer Staples 21.1 6.6 14.5
Consumer Discretionary 20.6 12.1 8.5
Financials 11.9 20.4 -8.5
Information Technology 9.0 20.2 -11.2
Telecom Services 8.4 4.4 4.0
Industrials 6.9 12.3 -5.4
Utilities 5.1 2.5 2.6
Energy 4.7 3.8 0.9
Materials 4.4 6.8 -2.4
Health Care 3.3 5.9 -2.6
Real Estate 1.4 5.1 -3.7
Cash and Other Assets, Less Liabilities 3.2 0.0 3.2
  Fund MSCI All Country Asia Pacific Index (GBP)Difference
China/Hong Kong 34.6 23.2 11.4
Japan 32.6 38.9 -6.3
South Korea 10.6 8.5 2.1
Taiwan 4.1 7.0 -2.9
Singapore 3.5 2.0 1.5
India 2.4 4.8 -2.4
Australia 2.1 10.7 -8.6
Indonesia 1.9 1.1 0.8
Thailand 1.4 1.4 0.0
Philippines 1.3 0.5 0.8
Vietnam 1.3 0.0 1.3
Bangladesh 1.0 0.0 1.0
Malaysia 0.0 1.4 -1.4
New Zealand 0.0 0.3 -0.3
Pakistan 0.0 0.0 0.0
Cash and Other Assets, Less Liabilities 3.2 0.0 3.2
  Fund MSCI All Country Asia Pacific Index (GBP) Difference
Mega Cap (over $25B) 28.4 51.8 -23.4
Large Cap ($10B-$25B) 24.1 25.5 -1.4
Mid Cap ($3B-$10B) 21.9 20.8 1.1
Small Cap (under $3B) 22.4 1.9 20.5
Cash and Other Assets, Less Liabilities 3.2 0.0 3.2
Equity market cap of issuer.
  Fund
Common Equities and ADRs 94.1
Preferred Equities 2.7
Cash and Other Assets, Less Liabilities 3.2
Source: FactSet Research Systems.

Portfolio Characteristics as of 30 September 2018

Number of Securities1

67

Weighted Average
Market Cap

$36.5 billion

P/E using FY1 estimates

15.2x

P/E using FY2 estimates

13.7x

1Source: Brown Brothers Harriman (Luxembourg) S.C.A
Source: FactSet Research Systems unless otherwise noted. Sector data (excluding Government Bonds) based on MSCI’s revised Global Industry Classification Standards. For more details, visit www.msci.com.

Percentage values in data are rounded to the nearest tenth of one percent, so the values may not sum to 100% due to rounding.  Percentage values may be derived from different data sources and may not be consistent with other Fund literature. 

The P/E Ratio is the share price of a stock as of the report date, divided by the forecasted earnings per share for a 12-month period (FY1) and 24 month period (FY2). For the Fund, this is the weighted harmonic average estimated P/E ratio of all the underlying stocks in the Fund, excluding negative earners. There is no guarantee that the composition of the Fund will remain unchanged, or that forecasted earnings of a stock will be realized. Information provided is for illustrative purposes only.

Index Definitions

The information contained in this document does not, in any way, constitute investment advice. It should not be assumed that any investment will be profitable or will equal the performance of the portfolios or any securities or any sectors mentioned herein. The information does not constitute a recommendation to buy or sell any securities mentioned. Information on this document is from sources considered reliable, but no representation or warranty is made as to its completeness or accuracy. 

Additional performance, attribution, liquidity, value at risk (VaR), security classification and holdings information is available on request for certain time periods.



Risk Considerations

The value of an investment in the Fund can go down as well as up and possible loss of principal is a risk of investing. Investments in international and emerging market securities may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. The Fund invests in holdings denominated in foreign currencies, and is exposed to the risk that the value of the foreign currency will increase or decrease. The Fund invests primarily in equity securities, which may result in increased volatility. There is no guarantee that the Fund or the companies in its portfolio will pay or continue to pay dividends. These and other risks associated with investing in the Fund can be found in the Prospectus.