Matthews Asian Growth and Income Fund | March 31, 2024 |
Schedule of Investmentsa (unaudited)
COMMON EQUITIES: 88.6% | ||
Shares | Value | |
China/Hong Kong: 35.1% | ||
Tencent Holdings, Ltd. | 402,500 | $15,677,353 |
AIA Group, Ltd. | 1,818,000 | 12,228,911 |
HKT Trust & HKT, Ltd. | 5,713,000 | 6,665,861 |
Midea Group Co., Ltd. A Shares | 727,730 | 6,474,568 |
Inner Mongolia Yili Industrial Group Co., Ltd. A Shares | 1,668,275 | 6,392,639 |
Wuliangye Yibin Co., Ltd. A Shares | 291,274 | 6,147,135 |
NARI Technology Co., Ltd. A Shares | 1,772,690 | 5,889,035 |
Jiangsu Expressway Co., Ltd. H Shares | 5,616,000 | 5,748,419 |
ENN Natural Gas Co., Ltd. A Shares | 2,029,777 | 5,356,790 |
BOC Hong Kong Holdings, Ltd. | 1,985,500 | 5,323,700 |
Yum China Holdings, Inc. | 131,481 | 5,231,629 |
JD.com, Inc. Class A | 376,352 | 5,162,377 |
NetEase, Inc. ADR | 49,860 | 5,159,014 |
Link REIT | 1,112,540 | 4,791,056 |
Techtronic Industries Co., Ltd. | 257,500 | 3,498,875 |
Zhongsheng Group Holdings, Ltd. | 1,841,000 | 3,197,763 |
Qingdao Haier Biomedical Co., Ltd. A Shares | 746,692 | 2,911,444 |
Guangdong Investment, Ltd. | 3,202,000 | 1,371,704 |
Total China/Hong Kong | 107,228,273 | |
India: 13.8% | ||
HDFC Bank, Ltd. | 722,477 | 12,598,281 |
Tata Consultancy Services, Ltd. | 175,222 | 8,177,953 |
Computer Age Management Services, Ltd. | 173,357 | 6,083,607 |
Embassy Office Parks REIT | 1,368,465 | 6,064,546 |
Hindustan Unilever, Ltd. | 171,177 | 4,657,435 |
Crompton Greaves Consumer Electricals, Ltd. | 1,441,034 | 4,635,923 |
Total India | 42,217,745 | |
Taiwan: 13.8% | ||
Taiwan Semiconductor Manufacturing Co., Ltd. | 1,221,187 | 29,255,017 |
Advantech Co., Ltd. | 540,078 | 6,871,047 |
Chailease Holding Co., Ltd. | 1,087,703 | 5,828,418 |
Total Taiwan | 41,954,482 | |
South Korea: 9.6% | ||
Samsung Electronics Co., Ltd. | 185,632 | 11,156,022 |
Macquarie Korea Infrastructure Fund | 806,802 | 7,681,313 |
LEENO Industrial, Inc. | 27,461 | 5,273,357 |
SK Telecom Co., Ltd. | 129,700 | 5,135,520 |
Total South Korea | 29,246,212 | |
Singapore: 5.8% | ||
Singapore Technologies Engineering, Ltd. | 2,229,425 | 6,637,661 |
United Overseas Bank, Ltd. | 263,800 | 5,735,022 |
CapitaLand Ascendas REIT | 2,616,884 | 5,367,956 |
Total Singapore | 17,740,639 | |
France: 3.2% | ||
Pernod Ricard SA | 31,736 | 5,137,556 |
LVMH Moet Hennessy Louis Vuitton SE | 5,186 | 4,666,346 |
Total France | 9,803,902 |
Shares | Value | |
Philippines: 2.3% | ||
Bank of the Philippine Islands | 3,297,776 | $6,928,175 |
Total Philippines | 6,928,175 | |
Indonesia: 2.1% | ||
PT Bank Rakyat Indonesia Persero Tbk | 16,532,172 | 6,321,489 |
Total Indonesia | 6,321,489 | |
United States: 1.6% | ||
Broadcom, Inc. | 3,690 | 4,890,763 |
Total United States | 4,890,763 | |
Thailand: 1.3% | ||
Digital Telecommunications Infrastructure Fund F Shares | 19,166,000 | 3,965,832 |
Total Thailand | 3,965,832 | |
TOTAL COMMON EQUITIES | 270,297,512 | |
(Cost $275,130,925) |
CONVERTIBLE CORPORATE BONDS: 9.7% | ||
Face Amount* | Value | |
China/Hong Kong: 3.7% | ||
Pharmaron Beijing Co., Ltd., Cnv. | ||
0.000%, 06/18/26b | 6,500,000 | 6,370,000 |
ZTO Express Cayman, Inc., Cnv. | ||
1.500%, 09/01/27 | 5,194,000 | 5,025,195 |
Total China/Hong Kong | 11,395,195 | |
Taiwan: 2.1% | ||
Bizlink Holding, Inc., Cnv. | ||
0.000%, 01/12/27b | 4,200,000 | 4,167,591 |
Bizlink Holding, Inc., Cnv. | ||
0.000%, 01/30/28b | 2,000,000 | 2,095,364 |
Total Taiwan | 6,262,955 | |
Singapore: 2.0% | ||
Straits Trading Co., Ltd., Cnv. | ||
3.250%, 02/13/28b | SGD 9,000,000 | 6,205,517 |
Total Singapore | 6,205,517 |
matthewsasia.com | 800.789.ASIA 1
Matthews Asian Growth and Income Fund | March 31, 2024 |
Schedule of Investmentsa (unaudited) (continued)
CONVERTIBLE CORPORATE BONDS (continued) | ||
Face Amount* | Value | |
New Zealand: 1.9% | ||
Xero Investments, Ltd., Cnv. | ||
0.000%, 12/02/25b | 6,184,000 | $5,842,642 |
Total New Zealand | 5,842,642 | |
TOTAL CONVERTIBLE CORPORATE BONDS | 29,706,309 | |
(Cost $29,657,506) | ||
Total Investments: 98.3% | 300,003,821 | |
(Cost $304,788,431) | ||
CASH AND OTHER ASSETS, LESS LIABILITIES: 1.7% | 5,150,625 | |
Net Assets: 100.0% | $305,154,446 |
a | Certain securities were fair valued under the valuation policies approved by the Board of Trustees. |
b | The securities may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
* | All Values in USD unless otherwise specified. |
ADR | American Depositary Receipt |
Cnv. | Convertible |
REIT | Real Estate Investment Trust |
SGD | Singapore Dollar |
USD | U.S. Dollar |
Other information regarding the Fund is available in the Funds’ most recent report to shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
2 MATTHEWS ASIA FUNDS