Message to Shareholders

29 April 2020

We are writing to inform you that effective April 29, 2020, portfolio management responsibilities for the Matthews Asia Small Companies Fund has been assumed by Tiffany Hsiao, CFA. Former Lead Manager, Lydia So, CFA, is departing the firm on April 30, 2020.  

The firm has decided to consolidate all Lead Management responsibilities of our Small Companies Strategies with Tiffany Hsiao. Tiffany is a highly regarded portfolio manager who has demonstrated strong Lead Manager ability that encompasses company research, building portfolios and generating strong performance. She has demonstrated these skills since becoming the Lead Manager on the Matthews China Small Companies Fund in 2015 and since becoming a Co-Manager on the Matthews Asia Small Companies Fund in 2018. 

Tiffany will continue to be supported by Beini Zhou, CFA, Co-Manager on the Matthews Asia Small Companies Fund, who has significant portfolio management experience in regional Asian equity strategies and YuanYuan Ji, Co-Manager on the Matthews China Small Companies Fund. We are confident that in having Tiffany in the Lead Manager position of the Matthews Asia Small Companies Fund, supported by Beini and our 45+ member investment team, we have the strength and depth to ensure a seamless transition for investors in the Fund. 

Finally, we would like to take this opportunity to thank Lydia for her contributions to Matthews Asia and wish her well in her future endeavors.

If you have any questions regarding the Matthews Asia Funds, please visit our website at or contact our team at or +1-415-954-4510. 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

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. It is authorised by the Commission de Surveillance du Secteur Financier (CSSF) as a UCITS and is only registered for public offer and sale in Finland, France, Germany, Italy, Luxembourg, Spain, Sweden and the United Kingdom. Not all share classes are registered in each jurisdiction. For investors in Singapore, the Matthews Asia Funds (the "Funds") are not authorised or recognised by the Monetary Authority of Singapore, and Shares of the Funds are not allowed to be offered to the retail public. Shares in the Funds may only be offered to (i) to an accredited investor or other relevant person, or (ii) to an institutional investor. NOT FOR SALE IN THE U.S. OR TO U.S. PERSONS. Matthews Asia is the brand for Matthews International Capital Management, LLC and its direct and indirect subsidiaries. Investors should consider the Fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus, Key Investor Information Document or other offering documents ("Offering Documents") contain this and other information about the Fund. To obtain the Offering Documents, please contact Matthews Asia or your financial professional. Please read the Offering Documents carefully before investing. Fees and expenses vary among Funds and share classes.