Matthews Asia ex Japan Dividend Fund

Portfolio Holdings: 31 December 2018

Security Country Sector Shares Value
Taiwan Semiconductor Manufacturing Co., Ltd. Taiwan Information Technology 157,000 1,160,022
Saigon Beer Alcohol Beverage Corp. Vietnam Consumer Staples 71,040 820,470
Yuexiu Transport Infrastructure, Ltd. China/Hong Kong Industrials 1,078,000 817,894
Nam Long Investment Corp. Vietnam Real Estate 729,650 816,923
China Mobile, Ltd. China/Hong Kong Communication Services 83,500 804,746
HKBN, Ltd. China/Hong Kong Communication Services 529,000 802,431
TICON Freehold & Leasehold, TREIT Thailand Real Estate 2,190,800 778,632
BGF Retail Co., Ltd. South Korea Consumer Staples 4,243 776,276
SUNeVision Holdings, Ltd. China/Hong Kong Information Technology 1,264,000 748,430
Minth Group, Ltd. China/Hong Kong Consumer Discretionary 220,000 710,320
Saigon Cargo Service Corp. Vietnam Industrials 113,710 705,938
Inner Mongolia Yili Industrial Group Co., Ltd. A Shares China/Hong Kong Consumer Staples 210,591 705,620
China Steel Chemical Corp. Taiwan Materials 157,000 703,838
United Overseas Bank, Ltd. Singapore Financials 38,800 700,897
WH Group, Ltd. China/Hong Kong Consumer Staples 902,500 694,432
Globe Telecom, Inc. Philippines Communication Services 18,395 664,648
SITC International Holdings Co., Ltd. China/Hong Kong Industrials 690,000 650,191
China Education Group Holdings, Ltd. China/Hong Kong Consumer Discretionary 528,000 647,972
Thien Long Group Corp. Vietnam Industrials 229,877 644,191
Poya International Co., Ltd. Taiwan Consumer Discretionary 57,000 590,543
Hrnetgroup, Ltd . Singapore Industrials 1,001,500 588,425
ITC, Ltd. India Consumer Staples 140,711 567,661
Fuyao Glass Industry Group Co., Ltd. A Shares China/Hong Kong Consumer Discretionary 168,600 561,278
Yangzijiang Shipbuilding Holdings, Ltd. China/Hong Kong Industrials 610,500 561,149
Chief Telecom, Inc. Taiwan Communication Services 113,000 558,425
GrameenPhone, Ltd. Bangladesh Communication Services 127,756 556,894
Keppel DC, REIT Singapore Real Estate 559,500 554,733
Koh Young Technology, Inc. South Korea Information Technology 7,460 553,555
China Resources Power Holdings Co., Ltd. China/Hong Kong Utilities 288,000 553,091
Minda Industries, Ltd. India Consumer Discretionary 117,609 544,372
Haidilao International Holding, Ltd. China/Hong Kong Consumer Discretionary 247,000 541,190
Huaneng Power International, Inc. H Shares China/Hong Kong Utilities 846,000 538,032
Nissin Foods Co., Ltd. China/Hong Kong Consumer Staples 1,166,000 535,429
Precision Tsugami China Corp., Ltd. China/Hong Kong Industrials 585,000 533,905
Crystal International Group, Ltd. China/Hong Kong Consumer Discretionary 1,053,000 533,770
Samsung Fire & Marine Insurance Co., Ltd., Pfd. South Korea Financials 3,399 529,124
Beijing Capital International Airport Co., Ltd. H Shares China/Hong Kong Industrials 498,000 528,171
BBI Life Sciences Corp. China/Hong Kong Health Care 1,786,500 524,646
Pacific Textiles Holdings, Ltd. China/Hong Kong Consumer Discretionary 589,000 523,432
Vinh Hoan Corp. Vietnam Consumer Staples 125,330 515,272
TOA Paint Thailand Public Co., Ltd. Thailand Materials 502,400 513,068
Nan Liu Enterprise Co., Ltd. Taiwan Consumer Discretionary 100,000 510,655
Hyundai Mobis Co., Ltd. South Korea Consumer Discretionary 2,990 510,331
PT United Tractors Indonesia Energy 266,000 508,377
Sun Art Retail Group, Ltd. China/Hong Kong Consumer Staples 498,500 508,265
LEENO Industrial, Inc. South Korea Information Technology 12,012 507,909
Thai Beverage Public Co., Ltd. Thailand Consumer Staples 1,114,000 499,439
Hua Hong Semiconductor, Ltd. China/Hong Kong Information Technology 246,000 455,622
Hope Education Group Co., Ltd. China/Hong Kong Consumer Discretionary 4,164,000 451,924
Vietnam Dairy Products JSC Vietnam Consumer Staples 85,071 441,304
Tianjin Zhongxin Pharmaceutical Group Corp., Ltd. S Shares China/Hong Kong Health Care 517,400 439,356
Hyundai Motor Co., Ltd., Pfd. South Korea Consumer Discretionary 6,928 435,872
Shanghai Baosight Software Co., Ltd. B Shares China/Hong Kong Information Technology 247,263 421,772
Sunonwealth Electric Machine Industry Co., Ltd. Taiwan Industrials 330,000 400,765
Guangdong Provincial Expressway Development Co., Ltd. B Shares China/Hong Kong Industrials 482,056 368,038
Fanhua, Inc. ADR China/Hong Kong Financials 15,800 360,960
Chongqing Brewery Co., Ltd. A Shares China/Hong Kong Consumer Staples 72,400 325,079
Mobile World Investment Corp. Vietnam Consumer Discretionary 39,253 147,718
Net Cash United States 1,644,544 1,644,544


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.