Matthews Asia Credit Opportunities Fund

Portfolio Holdings: 30 June 2018

Security Currency Country Sector Quantity Value
Ctrip.com International, Ltd., Cnv., 1.250%, 09/15/2022 U.S. Dollar China/Hong Kong Consumer Discretionary 1,100,000 1,133,000
DFCC Bank PLC, 9.625%, 10/31/2018 U.S. Dollar Sri Lanka Financials 1,100,000 1,114,861
Debt and Asset Trading Corp., 1.000%, 10/10/2025 U.S. Dollar Vietnam Financials 1,520,000 1,060,200
SoftBank Group Corp., 6.000%, 07/19/2049 U.S. Dollar Japan Telecom Services 1,100,000 957,000
Wanda Properties International Co., Ltd., 7.250%, 01/29/2024 U.S. Dollar China/Hong Kong Real Estate 950,000 908,438
Bangkok Dusit Medical Services Public Co., Ltd., Cnv., 0.000%, 09/18/2019 Thai Baht Thailand Health Care 25,000,000 896,416
CP Foods Holdings, Ltd., Cnv., 0.500%, 09/22/2021 U.S. Dollar Thailand Consumer Staples 800,000 838,000
Modernland Overseas Pte, Ltd., 6.950%, 04/13/2024 U.S. Dollar Indonesia Real Estate 950,000 825,313
KWG Property Holding, Ltd., 8.975%, 01/14/2019 U.S. Dollar China/Hong Kong Real Estate 800,000 815,824
Tsinghua Unic, Ltd., 4.750%, 01/31/2021 U.S. Dollar China/Hong Kong Industrials 800,000 776,464
Zhongsheng Group Holdings, Ltd., Cnv., 0.000%, 05/23/2023 Hong Kong Dollar China/Hong Kong Consumer Discretionary 6,000,000 750,077
KWG Property Holding, Ltd., 6.000%, 09/15/2022 U.S. Dollar China/Hong Kong Real Estate 800,000 746,000
National Savings Bank, 8.875%, 09/18/2018 U.S. Dollar Sri Lanka Financials 700,000 705,758
Standard Chartered PLC, 6.500%, 12/29/2049 U.S. Dollar China/Hong Kong Financials 700,000 693,000
TBG Global Pte, Ltd., 5.250%, 02/10/2022 U.S. Dollar Indonesia Telecom Services 700,000 679,000
Harvest International Co., Cnv., 0.000%, 11/21/2022 Hong Kong Dollar China/Hong Kong Consumer Discretionary 5,000,000 667,219
HSBC Holdings PLC, 6.375%, 12/29/2049 U.S. Dollar China/Hong Kong Financials 650,000 637,000
China Overseas Finance Investment Cayman V, Ltd., Cnv., 0.000%, 01/05/2023 U.S. Dollar China/Hong Kong Real Estate 600,000 626,808
Socialist Republic of Vietnam, 5.500%, 03/12/2028 U.S. Dollar Vietnam Foreign Government Bonds 612,500 591,822
China Southern Power Grid Co., Ltd., 3.140%, 03/11/2021 Chinese Renminbi China/Hong Kong Utilities 4,000,000 583,613
Air China, Ltd., 3.080%, 10/20/2021 Chinese Renminbi China/Hong Kong Industrials 4,000,000 576,074
Theta Capital Pte, Ltd., 6.750%, 10/31/2026 U.S. Dollar Indonesia Real Estate 800,000 564,000
Sri Lanka Government Bond, 6.125%, 06/03/2025 U.S. Dollar Sri Lanka Foreign Government Bonds 550,000 513,563
China National Petroleum Corp., 4.500%, 04/12/2022 Chinese Renminbi China/Hong Kong Energy 3,000,000 452,480
Vipshop Holdings, Ltd., Cnv., 1.500%, 03/15/2019 U.S. Dollar China/Hong Kong Consumer Discretionary 450,000 444,211
State Grid Corp. of China, 3.150%, 11/14/2021 Chinese Renminbi China/Hong Kong Utilities 3,000,000 431,652
Olam International Ltd., 7.50%, 08/12/2020 U.S. Dollar Singapore Consumer Staples 400,000 417,904
Alam Synergy Pte, Ltd., 6.950%, 03/27/2020 U.S. Dollar Indonesia Real Estate 400,000 364,000
Sprint Communications, Inc., 6.000%, 11/15/2022 U.S. Dollar United States Telecom Services 321,000 316,988
Johnson Electric Holdings, Ltd., Cnv., 1.000%, 04/02/2021 U.S. Dollar China/Hong Kong Industrials 250,000 266,000
Theta Capital Pte, Ltd., 7.000%, 04/11/2022 U.S. Dollar Indonesia Real Estate 300,000 243,000
Net Cash U.S. Dollar United States 332,671 332,671


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.