Matthews Asia Strategic Income Fund

Portfolio Holdings: 31 December 2018

Security Currency Country Sector Quantity Value
Thailand Government Bond, 2.875%, 12/17/2028 Thai Baht Thailand Foreign Government Bonds 73,000,000 2,330,285
SoftBank Group Corp., 6.000%, 07/19/2049 U.S. Dollar Japan Communication Services 2,750,000 2,279,063
Debt and Asset Trading Corp., 1.000%, 10/10/2025 U.S. Dollar Vietnam Financials 3,300,000 2,268,750
CNRC Capitale Ltd., 3.900%, 12/02/2067 U.S. Dollar China/Hong Kong Materials 2,300,000 2,175,133
China Minmetals Corp., 3.750%, 05/13/2067 U.S. Dollar China/Hong Kong Materials 2,400,000 2,168,136
Leader Goal International, Ltd., 4.250%, 07/19/2067 U.S. Dollar China/Hong Kong Industrials 2,300,000 2,139,000
REC Ltd., 5.250%, 11/13/2023 U.S. Dollar India Financials 2,100,000 2,136,769
Ctrip.com International, Ltd., Cnv., 1.250%, 09/15/2022 U.S. Dollar China/Hong Kong Consumer Discretionary 2,200,000 2,127,770
HSBC Holdings PLC, 6.375%, 12/29/2049 U.S. Dollar China/Hong Kong Financials 2,200,000 2,087,250
China Mengniu Dairy Co., Ltd., Cnv., 0.000%, 06/05/2022 U.S. Dollar China/Hong Kong Consumer Staples 2,200,000 2,062,500
Zhongsheng Group Holdings, Ltd., Cnv., 0.000%, 05/23/2023 Hong Kong Dollar China/Hong Kong Consumer Discretionary 17,000,000 2,003,486
KIA Motors Corp., 3.500%, 10/25/2027 U.S. Dollar South Korea Consumer Discretionary 2,100,000 1,969,821
Indonesia Government Bond, 7.000%, 05/15/2027 Indonesian Rupiah Indonesia Foreign Government Bonds 30,000,000,000 1,946,245
Standard Chartered PLC, 6.500%, 12/29/2049 U.S. Dollar China/Hong Kong Financials 2,000,000 1,932,500
Shimao Property Holdings, Ltd., 4.750%, 07/03/2022 U.S. Dollar China/Hong Kong Real Estate 1,900,000 1,792,289
KWG Group Holdings, Ltd., 6.000%, 09/15/2022 U.S. Dollar China/Hong Kong Real Estate 2,000,000 1,782,500
Housing Development Finance Corp., Ltd., 9.000%, 11/29/2028 Indian Rupee India Financials 120,000,000 1,767,205
LIC Housing Finance, Ltd., 8.750%, 12/08/2028 Indian Rupee India Financials 120,000,000 1,723,962
West China Cement, Ltd., 6.500%, 09/11/2019 U.S. Dollar China/Hong Kong Materials 1,662,500 1,666,656
PB International BV, 7.625%, 01/26/2022 U.S. Dollar Indonesia Consumer Discretionary 1,700,000 1,649,833
Chinalco Capital Holdings, Ltd., 4.000%, 08/25/2021 U.S. Dollar China/Hong Kong Materials 1,600,000 1,540,000
Krung Thai Bank Public Co., Ltd., 5.200%, 12/26/2024 U.S. Dollar Thailand Financials 1,503,000 1,517,774
Indonesia Government Bond, 8.250%, 05/15/2029 Indonesian Rupiah Indonesia Foreign Government Bonds 21,300,000,000 1,507,442
CIFI Holdings Group Co., Ltd., 7.750%, 09/20/2020 Chinese Renminbi China/Hong Kong Real Estate 10,000,000 1,469,178
Alam Synergy Pte, Ltd., 6.950%, 03/27/2020 U.S. Dollar Indonesia Real Estate 1,450,000 1,377,500
Lotte Shopping Co., Ltd., Cnv., 0.000%, 04/04/2023 Korean Won South Korea Consumer Discretionary 1,600,000,000 1,295,028
Huaneng Hong Kong Capital, Ltd., 3.600%, 04/30/2067 U.S. Dollar China/Hong Kong Utilities 1,350,000 1,217,700
Bharti Airtel, Ltd., 4.375%, 06/10/2025 U.S. Dollar India Communication Services 1,300,000 1,174,875
Royal Capital BV, 4.875%, 11/05/2067 U.S. Dollar Philippines Consumer Discretionary 1,138,000 1,043,466
Wanda Properties International Co., Ltd., 7.250%, 01/29/2024 U.S. Dollar China/Hong Kong Real Estate 1,066,000 1,000,708
Olam International, Ltd., 4.375%, 01/09/2023 U.S. Dollar Singapore Consumer Staples 1,000,000 946,250
CIFI Holdings Group Co., Ltd., 5.500%, 01/23/2022 U.S. Dollar China/Hong Kong Real Estate 1,000,000 907,500
Olam International, Ltd., 6.000%, 10/25/2022 Singapore Dollar Singapore Consumer Staples 1,000,000 758,931
CP Foods Holdings, Ltd., Cnv., 0.500%, 09/22/2021 U.S. Dollar Thailand Consumer Staples 600,000 620,550
National Savings Bank, 5.150%, 09/10/2019 U.S. Dollar Sri Lanka Financials 600,000 586,812
Republic of Philippines, 4.950%, 01/15/2021 Philippine Peso Philippines Foreign Government Bonds 30,000,000 562,524
Franshion Brilliant, Ltd., 5.200%, 03/08/2021 Chinese Renminbi China/Hong Kong Real Estate 3,000,000 436,725
CIFI Holdings Group Co., Ltd., 6.875%, 04/23/2021 U.S. Dollar China/Hong Kong Real Estate 400,000 391,000
Socialist Republic of Vietnam, 5.200%, 01/12/2022 Vietnam Foreign Government Bonds 7,000,000,000 309,198
Korea Treasury Bond, 3.500%, 03/10/2024 Korean Won South Korea Foreign Government Bonds 300,000,000 289,255
Modernland Overseas Pte, Ltd., 6.950%, 04/13/2024 U.S. Dollar Indonesia Real Estate 300,000 245,625
Olam International, Ltd., 4.500%, 04/12/2021 U.S. Dollar Singapore Consumer Staples 200,000 196,000
Republic of Philippines, 6.250%, 01/14/2036 Philippine Peso Philippines Foreign Government Bonds 10,000,000 185,268
Currency Contracts, Indian Rupee on 02/11/2019 @ 73.6600 Indian Rupee India 58,928,000 42,346
Currency Contracts, Indonesian Rupiah on 02/11/2019 @ 15090.0000 Indonesian Rupiah Indonesia 15,090,000,000 41,976
Currency Contracts, Korean Won on 02/11/2019 @ 1122.0000 Korean Won South Korea 3,746,000,000 22,709
Currency Contracts, Singapore Dollar on 02/11/2019 @ 1.3694 Singapore Dollar Singapore 3,600,000 17,413
Currency Contracts, Chinese Renminbi on 01/17/2019 @ 6.9715 Chinese Renminbi China/Hong Kong 4,967,655 9,558
Currency Contracts, Thai Baht on 03/04/2019 @ 32.8050 Thai Baht Thailand 15,910,425 7,468
Currency Contracts, Singapore Dollar on 03/04/2019 @ 1.3675 Singapore Dollar Singapore 1,005,113 4,192
Currency Contracts, Korean Won on 03/04/2019 @ 1114.1000 Korean Won South Korea 807,722,500 293
Currency Contracts, Chinese Renminbi on 01/17/2019 @ 6.9575 Chinese Renminbi China/Hong Kong -4,967,655 -8,943
Net Cash U.S. Dollar United States 1,125,620 1,125,620


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.