Message to Shareholders

22 January 2019

We are writing to inform you that effective January 22, 2019, Taizo Ishida assumed lead portfolio management responsibilities for the Matthews Japan Fund. This change follows a decision by Kenichi Amaki to leave the firm in order to pursue another opportunity.
As you are likely aware, the Matthews Japan Strategy was launched in 1998 as a U.S.-domiciled mutual fund and subsequently in 2015 as a Luxembourg-domiciled UCITS fund. Taizo has been a portfolio manager on the Japan Strategy since joining the firm in 2006. He was Lead Manager on the U.S.-domiciled Matthews Japan Fund from April 2007 to April 2015 before he moved to the Co-Manager position, at which point Kenichi Amaki became the Lead Manager. Taizo was instrumental in developing the investment philosophy and approach of the Matthews Japan Strategy, which was mirrored across the U.S.-domiciled and UCITS vehicles. Given his experience as a Lead Manager on the Strategy, we do not anticipate any changes to the Japan Fund's investment strategy or portfolio construction process. Furthermore, given Taizo's 12 years of experience on the Strategy as Lead Manager or Co-Manager, he naturally has a deep understanding of the portfolio. We expect a seamless transition.

Also effective January 22 2019, Shuntaro Takeuchi became Co-Manager following two years as Senior Research Analyst on the Fund. This promotion, which had been planned prior to Kenichi's departure, recognizes the significant contribution Shuntaro has made to the Japan Fund. It also recognizes the increasing client and portfolio responsibilities he has taken on during this time. There are no other changes to this portfolio management team.

Finally, we would like to take this opportunity to thank Kenichi for his contributions to Matthews Asia over the past 10 years and wish him well in his future endeavors. Kenichi has been a valued member of our team. We are confident that in having Taizo resume the Lead Manager position, supported by Shuntaro and our 47-member investment team, we have the strength and depth to ensure a seamless transition for investors in the Fund.

If you have any questions regarding the Matthews Asia Funds, please visit our website at or contact our team at Thank you for your investment in Matthews Asia.

Yours truly,

William J. Hackett
Chief Executive Officer
Matthews Asia
  Robert Horrocks, PhD
Chief Investment Officer
Matthews Asia

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