Matthews Asia Credit Opportunities Fund

Portfolio Holdings: 31 March 2018

Security Currency Country Sector Quantity Value
DFCC Bank PLC, 9.625%, 10/31/2018 U.S. Dollar Sri Lanka Financials 1,100,000 1,125,443
Debt and Asset Trading Corp., 1.000%, 10/10/2025 U.S. Dollar Vietnam Financials 1,520,000 1,067,770
China Hongqiao Group, Ltd., 6.875%, 05/03/2018 U.S. Dollar China/Hong Kong Materials 1,050,000 1,046,063
SoftBank Group Corp., 6.000%, 07/19/2049 U.S. Dollar Japan Telecom Services 1,100,000 1,036,750
CP Foods Holdings, Ltd., Cnv., 0.500%, 09/22/2021 U.S. Dollar Thailand Consumer Staples 800,000 1,006,496
Theta Capital Pte, Ltd., 6.750%, 10/31/2026 U.S. Dollar Indonesia Real Estate 1,100,000 1,002,463
Delta Investment Horizon International, Ltd., Cnv., 3.000%, 05/26/2020 U.S. Dollar Indonesia Telecom Services 1,000,000 1,000,000
Wanda Properties International Co., Ltd., 7.250%, 01/29/2024 U.S. Dollar China/Hong Kong Real Estate 950,000 965,580
Listrindo Capital BV, 4.950%, 09/14/2026 U.S. Dollar Indonesia Utilities 1,000,000 946,250
Modernland Overseas Pte, Ltd., 6.950%, 04/13/2024 U.S. Dollar Indonesia Real Estate 950,000 931,000
TBG Global Pte, Ltd., 5.250%, 02/10/2022 U.S. Dollar Indonesia Telecom Services 900,000 920,250
Bangkok Dusit Medical Services Public Co., Ltd., 0.000%, 09/18/2019 Thai Baht Thailand Health Care 25,000,000 902,422
Ctrip.com International, Ltd., Cnv., 1.250%, 09/15/2022 U.S. Dollar China/Hong Kong Consumer Discretionary 800,000 831,640
KWG Property Holding, Ltd., 8.975%, 01/14/2019 U.S. Dollar China/Hong Kong Real Estate 800,000 818,992
Sri Lanka Government Bond, 6.125%, 06/03/2025 U.S. Dollar Sri Lanka Foreign Government Bonds 800,000 793,000
Tsinghua Unic Ltd., 4.750%, 01/31/2021 U.S. Dollar China/Hong Kong Industrials 800,000 789,776
National Savings Bank, 8.875%, 09/18/2018 U.S. Dollar Sri Lanka Financials 700,000 713,187
Standard Chartered PLC, 6.500%, 12/29/2049 U.S. Dollar China/Hong Kong Financials 700,000 711,375
Harvest International Co., Cnv., 0.000%, 11/21/2022 Hong Kong Dollar China/Hong Kong Consumer Discretionary 5,000,000 686,671
HSBC Holdings PLC, 6.375%, 12/29/2049 U.S. Dollar China/Hong Kong Financials 650,000 662,188
Socialist Republic of Vietnam, 5.500%, 03/12/2028 U.S. Dollar Vietnam Foreign Government Bonds 612,500 610,969
China Southern Power Grid Co., Ltd., 3.140%, 03/11/2021 Chinese Renminbi China/Hong Kong Utilities 4,000,000 605,522
Air China, Ltd., 3.080%, 10/20/2021 Chinese Renminbi China/Hong Kong Industrials 4,000,000 594,922
Jababeka International BV, 6.500%, 10/5/2023 U.S. Dollar Indonesia Real Estate 500,000 481,250
Vipshop Holdings, Ltd., 1.500%, 03/15/2019 U.S. Dollar China/Hong Kong Consumer Discretionary 450,000 479,975
China National Petroleum Corp., 4.500%, 04/12/2022 Chinese Renminbi China/Hong Kong Energy 3,000,000 468,811
State Grid Corp. of China, 3.150%, 11/14/2021 Chinese Renminbi China/Hong Kong Utilities 3,000,000 448,910
Olam International Ltd., 7.50%, 08/12/2020 U.S. Dollar Singapore Consumer Staples 400,000 422,544
Alam Synergy Pte, Ltd., 6.950%, 03/27/2020 U.S. Dollar Indonesia Real Estate 400,000 400,500
Sprint Communications, Inc., 6.000%, 11/15/2022 U.S. Dollar United States Telecom Services 321,000 315,383
ICTSI Treasury BV, 5.875%, 09/17/2025 U.S. Dollar Philippines Industrials 200,000 214,028
Net Cash U.S. Dollar United States 386,781 386,781


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.