Matthews Asia Focus Fund


Top 10 Holdings as of 30 September 2018

Security Sector Country % Net Assets
AIA Group, Ltd. Financials China/Hong Kong 6.3
Tencent Holdings, Ltd. Information Technology China/Hong Kong 5.6
Taiwan Semiconductor Manufacturing Co., Ltd. Information Technology Taiwan 4.7
Broadcom, Inc. Information Technology United States 4.5
United Overseas Bank, Ltd. Financials Singapore 3.6
Singapore Technologies Engineering, Ltd. Industrials Singapore 3.2
CK Hutchison Holdings, Ltd. Industrials China/Hong Kong 3.2
Cie Financiere Richemont SA Consumer Discretionary Switzerland 3.2
China Mobile, Ltd. Telecom Services China/Hong Kong 3.1
Sheng Siong Group, Ltd. Consumer Staples Singapore 3.1
Total 40.5
Top 10 holdings may combine more than one security from the same issuer and related depositary receipts.
Source: Brown Brothers Harriman (Luxembourg) S.C.A

Portfolio Breakdown (%) as of 30 September 2018

  Fund MSCI All Country Asia ex Japan IndexDifference
Financials 30.4 23.3 7.1
Information Technology 23.7 30.6 -6.9
Consumer Discretionary 18.5 8.3 10.2
Industrials 11.6 6.9 4.7
Telecom Services 8.7 4.1 4.6
Consumer Staples 4.6 4.9 -0.3
Real Estate 2.1 5.8 -3.7
Energy 0.0 5.1 -5.1
Materials 0.0 4.9 -4.9
Health Care 0.0 3.1 -3.1
Utilities 0.0 3.1 -3.1
Cash and Other Assets, Less Liabilities 0.4 0.0 0.4
  Fund MSCI All Country Asia ex Japan IndexDifference
China/Hong Kong 41.8 46.5 -4.7
Singapore 13.0 4.0 9.0
South Korea 7.8 16.9 -9.1
United States 6.6 0.0 6.6
Taiwan 6.4 13.9 -7.5
India 5.2 9.7 -4.5
Switzerland 3.2 0.0 3.2
Thailand 3.0 2.8 0.2
Indonesia 2.7 2.2 0.5
Malaysia 2.5 2.8 -0.3
Australia 2.5 0.0 2.5
United Kingdom 2.5 0.0 2.5
Philippines 2.4 1.1 1.3
Pakistan 0.0 0.1 -0.1
Cash and Other Assets, Less Liabilities 0.4 0.0 0.4
  Fund MSCI All Country Asia ex Japan Index Difference
Mega Cap (over $25B) 62.2 52.9 9.3
Large Cap ($10B-$25B) 8.8 24.9 -16.1
Mid Cap ($3B-$10B) 12.8 18.9 -6.1
Small Cap (under $3B) 15.7 3.3 12.4
Cash and Other Assets, Less Liabilities 0.4 0.0 0.4
Equity market cap of issuer.
Source: FactSet Research Systems.

Portfolio Characteristics as of 30 September 2018

Number of Securities1

35

Weighted Average
Market Cap

$79.8 billion

P/E using FY1 estimates

15.1x

P/E using FY2 estimates

13.6x

1Source: Brown Brothers Harriman (Luxembourg) S.C.A
Source: FactSet Research Systems unless otherwise noted. Sector data (excluding Government Bonds) based on MSCI’s revised Global Industry Classification Standards. For more details, visit www.msci.com.

Percentage values in data are rounded to the nearest tenth of one percent, so the values may not sum to 100% due to rounding.  Percentage values may be derived from different data sources and may not be consistent with other Fund literature. 

The P/E Ratio is the share price of a stock as of the report date, divided by the forecasted earnings per share for a 12-month period (FY1) and 24 month period (FY2). For the Fund, this is the weighted harmonic average estimated P/E ratio of all the underlying stocks in the Fund, excluding negative earners. There is no guarantee that the composition of the Fund will remain unchanged, or that forecasted earnings of a stock will be realized. Information provided is for illustrative purposes only.

Index Definitions

The information contained in this document does not, in any way, constitute investment advice. It should not be assumed that any investment will be profitable or will equal the performance of the portfolios or any securities or any sectors mentioned herein. The information does not constitute a recommendation to buy or sell any securities mentioned. Information on this document is from sources considered reliable, but no representation or warranty is made as to its completeness or accuracy. 

Additional performance, attribution, liquidity, value at risk (VaR), security classification and holdings information is available on request for certain time periods.