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Message to Matthews Asia Total Return Bond Fund Shareholders

30 June 2022

Dear Valued Shareholder,

We are writing to inform you that effective 1 August 2022, Teresa Kong will retire from Matthews Asia and effective 29 July 2022, Lead Manager responsibilities for the Matthews Asia Total Return Bond Fund will be assumed by Satya Patel. Wei Zhang will continue as Co-Manager on the Fund.

Satya has worked on the Matthews Asia Total Return Bond strategy since joining the firm in 2011, first as an analyst and as then Co-Manager since 2014, working in partnership with Teresa on the management of the portfolio. This has included conducting company research and analyzing the overall structure of, and position sizes implemented in, the portfolio. He has also had a hands-on role in risk monitoring and ensuring that the portfolio meets its investment objective and has in-depth knowledge of the companies in the portfolio. We believe this is an appropriate time to recognize the progress that Satya has made with the portfolio’s development.

Satya and Wei have over 30 years of combined industry experience, as well as considerable experience across all three key drivers of the Fund’s return: credit, currency and interest rates. As Lead Manager of the Matthews Asia Total Return Fund, Satya will be responsible for the day-to-day management of the portfolios, including determining position sizing and overseeing portfolio risk management. As Co-Manager of the Fund, Wei will continue to contribute to discussions on portfolio construction including buys/sell decisions and position sizing.

We would like to take this opportunity to thank Teresa for her contribution to Matthews Asia over the past 12 years and for providing ample lead time to ensure that the changes announced today will not affect the management of our portfolios.

We are very proud of the depth and diversity of the investment team that we have built at Matthews Asia over the past 30-plus years. If you have any questions regarding the Matthews Asia Funds, please visit our website at matthewsasia.com or contact our team at globalfunds@matthewsasia.com or +1-415-954-4510. Thank you for your investment in Matthews Asia.

 

Yours truly,

Robert Horrocks, PhD
Chief Investment Officer
Matthews Asia

 

The Fund is a sub-fund of Matthews Asia Funds SICAV, an umbrella fund, with segregated liability between sub-funds, established as an open-ended investment company with variable capital and incorporated with limited liability under the laws of Luxembourg. The current prospectus, Key Investor Information Document or other offering documents (“Offering Documents”) contain this and other information and can be obtained by visiting global.matthewsasia.com.

Investing in international and emerging markets may involve additional risks, such as social and political instability. Investing in international, emerging and frontier markets may involve additional risks, such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Additionally, investing in emerging and frontier securities involves greater risks than investing in securities of developed markets, as issuers in these countries generally disclose less financial and other information publicly or restrict access to certain information from review by non-domestic authorities. Emerging and frontier markets tend to have less stringent and less uniform accounting, auditing and financial reporting standards, limited regulatory or governmental oversight, and limited investor protection or rights to take action against issuers, resulting in potential material risks to investors. Pandemics and other public health emergencies can result in market volatility and disruption.

It is the responsibility of any persons wishing to subscribe for shares to inform themselves of and to observe all applicable laws and regulations of any relevant jurisdictions. An investment in the Matthews Asia Funds is not available in all jurisdictions. The Fund’s shares may not be sold to citizens or residents of the United States or in any other state, country or jurisdiction where it would be unlawful to offer, solicit an offer for, or sell the shares. No securities commission or regulatory authority has in any way passed upon the merits of an investment in the Fund or the accuracy or adequacy of this information or the material contained herein or otherwise.

In the UK, this document is only made available to professional clients and eligible counterparties as defined by the Financial Conduct Authority (“FCA”). Under no circumstances should this document be forwarded to anyone in the UK who is not a professional client or eligible counterparty as defined by the FCA. Issued in the UK by Matthews Global Investors (UK) Limited (“Matthews Asia (UK)”), which is authorised and regulated by the FCA, FRN 667893.