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Form NPORT-P MATTHEWS INTERNATIONAL For: Mar 31

May 26, 2022 1:32 PM EDT

  
    NPORT-P
    false
    
      
      
        
          0000923184
          XXXXXXXX
        
      
      
      
      
        S000053714
        C000168877
        C000168876
      
      
    
  
  
    
      Matthews International Funds
      811-08510
      0000923184
      5493007IYPQKGSDVTS49
      Four Embarcadero Center
      Suite 550
      San Francisco
      
      94111
      415-788-7553
      Matthews Asia Credit Opportunities Fund
      S000053714
      5493007P5WXJNVBRJ823
      2022-12-31
      2022-03-31
      N
    
    
      35006599.56
      85861.35
      34920738.21
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      83291.78000000
      
        
          USD
          
          
        
      
      
      
      N
      
        
          
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        STANDARD CHARTERED PLC
        U4LOSYZ7YG4W3S5F2G91
        Standard Chartered PLC
        000000000
        
          
          
        
        1000000.00000000
        PA
        USD
        877535.00000000
        2.512933703528
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          N/A
          Fixed
          4.30000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TIMES CHINA HLDG LTD
        2549000KTINB9ZPZP710
        Times China Holdings Ltd
        000000000
        
          
          
        
        1500000.00000000
        PA
        USD
        555000.00000000
        1.589313480896
        Long
        DBT
        CORP
        KY
        
        N
        
        3
        
          2026-03-22
          Fixed
          6.20000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WANDA PROPERTIES INTL
        N/A
        Wanda Properties International Co Ltd
        000000000
        
          
          
        
        1100000.00000000
        PA
        USD
        957550.00000000
        2.742066889427
        Long
        DBT
        CORP
        VG
        
        N
        
        2
        
          2024-01-29
          Fixed
          7.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WEIMOB INVESTMENT LTD
        549300KIIZYZIYQTNI95
        Weimob Investment Ltd
        000000000
        
          
          
        
        600000.00000000
        PA
        USD
        404064.00000000
        1.157088941161
        Long
        DBT
        CORP
        VG
        
        N
        
        2
        
          2026-06-07
          None
          0.00000000
          N
          N
          N
          N
          N
          
            
              Weimob Inc
              Weimob Inc
              USD
              
                
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        CIFI HOLDINGS GROUP
        549300WGKSV867C0JF48
        CIFI Holdings Group Co Ltd
        000000000
        
          
          
        
        200000.00000000
        PA
        USD
        155750.00000000
        0.446010044413
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2028-05-17
          Fixed
          4.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NETWORK I2I LTD
        2549003L8M1FGHLHOX45
        Network i2i Ltd
        64132NAA4
        
          
          
        
        1300000.00000000
        PA
        USD
        1287650.00000000
        3.687350457073
        Long
        DBT
        CORP
        MU
        
        N
        
        2
        
          N/A
          Fixed
          5.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LOGAN GROUP CO LTD
        549300NJ0E6Q0S1VOG90
        Logan Group Co Ltd
        000000000
        
          
          
        
        1020000.00000000
        PA
        USD
        198900.00000000
        0.569575588018
        Long
        DBT
        CORP
        KY
        
        N
        
        3
        
          2028-01-13
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        POWERLONG REAL ESTATE
        549300R3K12EPXCGDP22
        Powerlong Real Estate Holdings Ltd
        000000000
        
          
          
        
        500000.00000000
        PA
        USD
        175000.00000000
        0.501134881363
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2026-05-13
          Fixed
          4.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANK OF EAST ASIA LTD
        CO6GC26LCGGRTUESIP55
        Bank of East Asia Ltd/The
        000000000
        
          
          
        
        1100000.00000000
        PA
        USD
        1088450.00000000
        3.116915780687
        Long
        DBT
        CORP
        HK
        N
        
        2
        
          N/A
          Fixed
          5.82500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SINO OCEAN LD TRS III
        N/A
        Sino-Ocean Land Treasure III Ltd
        000000000
        
          
          
        
        2500000.00000000
        PA
        USD
        1600000.00000000
        4.581804629610
        Long
        DBT
        CORP
        VG
        
        N
        
        2
        
          N/A
          Fixed
          4.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ABJA INVESTMENT CO
        254900E6OE5YJ9WCCU19
        ABJA Investment Co Pte Ltd
        000000000
        
          
          
        
        1100000.00000000
        PA
        USD
        1134390.82000000
        3.248473194289
        Long
        DBT
        CORP
        SG
        
        N
        
        2
        
          2028-01-24
          Fixed
          5.45000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SHRIRAM TRANSPORT FIN
        335800TM2YO24B76XL26
        Shriram Transport Finance Co Ltd
        000000000
        
          
          
        
        1300000.00000000
        PA
        USD
        1271400.00000000
        3.640816503804
        Long
        DBT
        CORP
        IN
        N
        
        2
        
          2024-03-13
          Fixed
          4.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HUARONG FINANCE 2019
        549300M6T6OW4AGYHK10
        Huarong Finance 2019 Co Ltd
        000000000
        
          
          
        
        800000.00000000
        PA
        USD
        732000.00000000
        2.096175618046
        Long
        DBT
        CORP
        VG
        
        N
        
        2
        
          N/A
          Fixed
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KING TALENT MANAGEMENT L
        54930092IZYKIMITSS51
        King Talent Management Ltd
        000000000
        
          
          
        
        600000.00000000
        PA
        USD
        552000.00000000
        1.580722597215
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          N/A
          Fixed
          5.60000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UNITED MICROELECTRONICS
        391200YJCAGH9LF96P73
        United Microelectronics Corp
        000000000
        
          
          
        
        400000.00000000
        PA
        USD
        385800.00000000
        1.104787641314
        Long
        DBT
        CORP
        TW
        N
        
        2
        
          2026-07-07
          None
          0.00000000
          N
          N
          N
          N
          N
          
            
              UNITED MICROELECTRONICS
              United Microelectronics Corp
              USD
              
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        BAOZUN INC
        549300IF0HZ7T4762633
        Baozun Inc
        06684LAB9
        
          
          
        
        1550000.00000000
        PA
        USD
        1534655.00000000
        4.394680864909
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2024-05-01
          Fixed
          1.62500000
          N
          N
          N
          N
          N
          
            
              Baozun Inc
              Baozun Inc
              USD
              
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        XERO INVESTMENTS LTD
        25490002CIY32NFE4689
        Xero Investments Ltd
        000000000
        
          
          
        
        400000.00000000
        PA
        USD
        349800.00000000
        1.001697037148
        Long
        DBT
        CORP
        NZ
        N
        
        2
        
          2025-12-02
          None
          0.00000000
          N
          N
          N
          N
          N
          
            
              Xero Ltd
              Xero Ltd
              USD
              
                
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        IQIYI INC
        222100XL8T2Q5B8MS302
        iQIYI Inc
        46267XAD0
        
          
          
        
        600000.00000000
        PA
        USD
        474000.00000000
        1.357359621522
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2025-04-01
          Fixed
          2.00000000
          N
          N
          N
          N
          Y
          
            
              iQIYI Inc
              iQIYI Inc
              USD
              
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        KASIKORNBANK PCL HK
        5493004COSQ54937AW41
        Kasikornbank PCL/Hong Kong
        000000000
        
          
          
        
        1200000.00000000
        PA
        USD
        1191000.00000000
        3.410580821166
        Long
        DBT
        CORP
        TH
        N
        
        2
        
          N/A
          Fixed
          5.27500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CERAH CAPITAL LTD
        213800QS96TD1F6Y6Z55
        Cerah Capital Ltd
        000000000
        
          
          
        
        600000.00000000
        PA
        USD
        615294.00000000
        1.761973061107
        Long
        DBT
        CORP
        MY
        N
        
        2
        
          2024-08-08
          None
          0.00000000
          N
          N
          N
          N
          N
          
            
              CIMB Group Holdings Bhd
              CIMB Group Holdings Bhd
              USD
              
                
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        FRANSHION BRILLIANT LTD
        549300E3ZP4GOU3D4G57
        Franshion Brilliant Ltd
        000000000
        
          
          
        
        800000.00000000
        PA
        USD
        752000.00000000
        2.153448175917
        Long
        DBT
        CORP
        HK
        
        N
        
        2
        
          N/A
          Fixed
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PB INTERNATIONAL BV
        724500W6YRFI96Q13F81
        PB International BV
        000000000
        
          
          
        
        5300000.00000000
        PA
        USD
        2387650.00000000
        6.837341139931
        Long
        DBT
        CORP
        NL
        
        N
        
        2
        
          2025-12-31
          Fixed
          7.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PINDUODUO INC
        5493000573DS7005T657
        Pinduoduo Inc
        722304AC6
        
          
          
        
        500000.00000000
        PA
        USD
        438500.00000000
        1.255700831302
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2025-12-01
          None
          0.00000000
          N
          N
          N
          N
          Y
          
            
              Pinduoduo Inc
              Pinduoduo Inc
              USD
              
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        TIMES CHINA HLDG LTD
        2549000KTINB9ZPZP710
        Times China Holdings Ltd
        000000000
        
          
          
        
        250000.00000000
        PA
        USD
        95000.00000000
        0.272044649883
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2027-01-14
          Fixed
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SEA LTD
        529900OM6JLLW44YKI15
        Sea Ltd
        81141RAG5
        
          
          
        
        200000.00000000
        PA
        USD
        159620.00000000
        0.457092284361
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2026-09-15
          Fixed
          0.25000000
          N
          N
          N
          N
          Y
          
            
              Sea Ltd
              Sea Ltd
              USD
              
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        LUYE PHARMA GROUP LTD
        5299009HZHEY886D5W65
        Luye Pharma Group Ltd
        000000000
        
          
          
        
        1800000.00000000
        PA
        USD
        1795914.00000000
        5.142829424739
        Long
        DBT
        CORP
        BM
        
        N
        
        2
        
          2024-07-09
          Fixed
          1.50000000
          N
          N
          N
          N
          N
          
            
              Luye Pharma Group Ltd
              Luye Pharma Group Ltd
              USD
              
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        NIO INC
        549300JBU4TV5OCKJV96
        NIO Inc
        62914VAF3
        
          
          
        
        800000.00000000
        PA
        USD
        646445.89000000
        1.851180482246
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2027-02-01
          Fixed
          0.50000000
          N
          N
          N
          N
          N
          
            
              NIO Inc
              NIO Inc
              USD
              
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        INDIKA ENERGY III PTE
        254900QWI3R1VQN4X672
        Indika Energy Capital III Pte Ltd
        000000000
        
          
          
        
        1300000.00000000
        PA
        USD
        1281150.00000000
        3.668736875766
        Long
        DBT
        CORP
        SG
        
        N
        
        2
        
          2024-11-09
          Fixed
          5.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SOCIALIST REP OF VIETNAM
        5493008AE7RS4XK4BZ08
        Vietnam Government International Bond
        000000000
        
          
          
        
        1229999.95000000
        PA
        USD
        1226494.45000000
        3.512223718251
        Long
        SN
        NUSS
        VN
        N
        
        2
        
          2028-03-12
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TATA MOTORS LTD
        335800BO2LHWJJ8TZI32
        Tata Motors Ltd
        000000000
        
          
          
        
        900000.00000000
        PA
        USD
        910818.00000000
        2.608243830707
        Long
        DBT
        CORP
        IN
        N
        
        2
        
          2025-05-20
          Fixed
          5.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CHINA SCE GRP HLDGS LTD
        549300Q8UEI2ERAP6P49
        China SCE Group Holdings Ltd
        000000000
        
          
          
        
        1200000.00000000
        PA
        USD
        636000.00000000
        1.821267340270
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2025-05-02
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AXIS BANK GIFT CITY
        549300HVNWMJPOFVNI41
        Axis Bank Ltd/Gift City
        000000000
        
          
          
        
        1300000.00000000
        PA
        USD
        1214184.21000000
        3.476971771611
        Long
        DBT
        CORP
        IN
        N
        
        2
        
          N/A
          Fixed
          4.10000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HDFC BANK LTD
        335800ZQ6I4E2JXENC50
        HDFC Bank Ltd
        40415FAA9
        
          
          
        
        1000000.00000000
        PA
        USD
        927500.00000000
        2.656014871227
        Long
        DBT
        CORP
        IN
        N
        
        2
        
          N/A
          Fixed
          3.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KAKAO CORP
        988400FTKUBQXKVZP434
        Kakao Corp
        000000000
        
          
          
        
        500000.00000000
        PA
        USD
        571950.00000000
        1.637851973691
        Long
        DBT
        CORP
        KR
        N
        
        2
        
          2023-04-28
          None
          0.00000000
          N
          N
          N
          N
          N
          
            
              Kakao Corp
              Kakao Corp
              USD
              
                
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        KWG GROUP HOLDINGS
        549300LK82ZOM9ZE7H90
        KWG Group Holdings Ltd
        000000000
        
          
          
        
        1800000.00000000
        PA
        USD
        684450.00000000
        1.960010111710
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2027-01-13
          Fixed
          7.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SUNAC CHINA HOLDINGS LTD
        549300OLARYHDXP3WK18
        Sunac China Holdings Ltd
        000000000
        
          
          
        
        700000.00000000
        PA
        USD
        164500.00000000
        0.471066788481
        Long
        DBT
        CORP
        KY
        
        N
        
        3
        
          2026-01-26
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        THETA CAPITAL PTE LTD
        2549003I5QVCGQHCYJ52
        Theta Capital Pte Ltd
        000000000
        
          
          
        
        1400000.00000000
        PA
        USD
        1325940.00000000
        3.796998769116
        Long
        DBT
        CORP
        SG
        
        N
        
        2
        
          2026-10-31
          Fixed
          6.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WANDA GROUP OVERSEAS
        875500FNRQEY4G2KVW35
        Wanda Group Overseas Ltd
        000000000
        
          
          
        
        1100000.00000000
        PA
        USD
        1045000.00000000
        2.992491148714
        Long
        DBT
        CORP
        HK
        
        N
        
        2
        
          2022-07-24
          Fixed
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MEITUAN
        21380033K525E5JLIA77
        Meituan
        000000000
        
          
          
        
        600000.00000000
        PA
        USD
        477600.00000000
        1.367668681938
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2028-04-27
          None
          0.00000000
          N
          N
          N
          N
          N
          
            
              Meituan
              Meituan
              USD
              
                
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
      
        PERIAMA HOLDINGS LLC/DE
        254900NINXO00BLT2Z47
        Periama Holdings LLC/DE
        000000000
        
          
          
        
        1200000.00000000
        PA
        USD
        1219560.00000000
        3.492366033804
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2026-04-19
          Fixed
          5.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ESR CAYMAN LTD
        549300C81AR42BZUFZ09
        ESR Cayman Ltd
        000000000
        
          
          
        
        900000.00000000
        PA
        USD
        869400.00000000
        2.489638090614
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2025-09-30
          Fixed
          1.50000000
          N
          N
          N
          N
          N
          
            
              ESR Cayman Ltd
              ESR Cayman Ltd
              USD
              
                
                
                
                
              
            
          
          
            
          
          XXXX
        
        
          N
          N
          N
        
      
    
    
      
    
    
      2022-05-20
      Matthews International Funds
      Shai Malka
      Shai Malka
      Treasurer
    
  
  XXXX



Matthews Asia Credit Opportunities Fund    March 31, 2022

Schedule of Investmentsa (unaudited)

NON-CONVERTIBLE CORPORATE BONDS: 69.9%

 

      Face Amount*      Value  
     

CHINA/HONG KONG: 29.4%

     

Sino-Ocean Land Treasure III, Ltd.
4.900%b, 09/21/22c,d

     2,500,000        $1,600,000  

Bank of East Asia, Ltd.
5.825%b, 10/21/25c,d

     1,100,000        1,088,450  

Wanda Group Overseas, Ltd.
7.500%, 07/24/22d

     1,100,000        1,045,000  

Wanda Properties International Co., Ltd.
7.250%, 01/29/24d

     1,100,000        957,550  

Standard Chartered PLC
4.300%b, 08/19/28c,d

     1,000,000        877,535  

Franshion Brilliant, Ltd.
6.000%b, 02/08/26c,d

     800,000        752,000  

Huarong Finance 2019 Co., Ltd.
4.250%b, 09/30/25c,d

     800,000        732,000  

KWG Group Holdings, Ltd.
7.400%, 01/13/27d

     1,800,000        684,450  

China SCE Group Holdings, Ltd.
7.000%, 05/02/25d

     1,200,000        636,000  

Times China Holdings, Ltd.
6.200%, 03/22/26d,e

     1,500,000        555,000  

King Talent Management, Ltd.
5.600%b, 12/04/22c,d

     600,000        552,000  

Logan Group Co., Ltd.
4.500%, 01/13/28d,e

     1,020,000        198,900  

Powerlong Real Estate Holdings, Ltd.
4.900%, 05/13/26d

     500,000        175,000  

Sunac China Holdings, Ltd.
6.500%, 01/26/26d,e

     700,000        164,500  

CIFI Holdings Group Co., Ltd.
4.800%, 05/17/28d

     200,000        155,750  

Times China Holdings, Ltd.
5.750%, 01/14/27d

     250,000        95,000  

Total China/Hong Kong

        10,269,135  
          
     

INDIA: 22.8%

     

Network i2i, Ltd.
5.650%b, 01/15/25c,f

     1,300,000        1,287,650  

Shriram Transport Finance Co., Ltd.
4.400%, 03/13/24d

     1,300,000        1,271,400  

Periama Holdings LLC
5.950%, 04/19/26d

     1,200,000        1,219,560  

Axis Bank Gift City,
4.100%b, 09/08/26c,d

     1,300,000        1,214,184  

ABJA Investment Co. Pte, Ltd.
5.450%, 01/24/28d

     1,100,000        1,134,391  

HDFC Bank, Ltd.
3.700%b, 08/25/26c,f

     1,000,000        927,500  

Tata Motors, Ltd.
5.875%, 05/20/25d

     900,000        910,818  

Total India

        7,965,503  
          
     

INDONESIA: 14.3%

     

PB International BV
7.625%, 12/31/25d

     5,300,000        2,387,650  

Theta Capital Pte, Ltd.
6.750%, 10/31/26d

     1,400,000        1,325,940  

Indika Energy Capital III Pte, Ltd.
5.875%, 11/09/24d

     1,300,000        1,281,150  

Total Indonesia

        4,994,740  
      Face Amount*      Value  
     

THAILAND: 3.4%

     

Kasikornbank Public Co., Ltd.
5.275%b, 10/14/25c,d

     1,200,000        $1,191,000  

Total Thailand

        1,191,000  
          
   

TOTAL NON-CONVERTIBLE CORPORATE BONDS

 

     24,420,378  

(Cost $32,533,295)

     

CONVERTIBLE CORPORATE BONDS: 25.0%

 

  
     

CHINA/HONG KONG: 19.0%

     

Luye Pharma Group, Ltd., Cnv.
1.500%, 07/09/24d

     1,800,000        1,795,914  

Baozun, Inc., Cnv.
1.625%, 05/01/24

     1,550,000        1,534,655  

ESR Cayman, Ltd., Cnv.
1.500%, 09/30/25d

     900,000        869,400  

NIO, Inc., Cnv.
0.500%, 02/01/27

     800,000        646,446  

Meituan, Cnv.
0.000%, 04/27/28d

     600,000        477,600  

iQIYI, Inc., Cnv.
2.000%, 04/01/25

     600,000        474,000  

Pinduoduo, Inc., Cnv.
0.000%, 12/01/25

     500,000        438,500  

Weimob Investment, Ltd., Cnv.
0.000%, 06/07/26d

     600,000        404,064  

Total China/Hong Kong

        6,640,579  
          
     

MALAYSIA: 1.8%

     

Cerah Capital, Ltd., Cnv.
0.000%, 08/08/24d

     600,000        615,294  

Total Malaysia

        615,294  
          
     

SOUTH KOREA: 1.6%

     

Kakao Corp., Cnv.
0.000%, 04/28/23d

     500,000        571,950  

Total South Korea

        571,950  
          
     

TAIWAN: 1.1%

     

United Microelectronics Corp., Cnv.
0.000%, 07/07/26d

     400,000        385,800  

Total Taiwan

        385,800  
          
     

NEW ZEALAND: 1.0%

     

Xero Investments, Ltd., Cnv.
0.000%, 12/02/25d

     400,000        349,800  

Total New Zealand

        349,800  
          
     

SINGAPORE: 0.5%

     

Sea, Ltd., Cnv.
0.250%, 09/15/26

     200,000        159,620  

Total Singapore

        159,620  
          
   

TOTAL CONVERTIBLE CORPORATE BONDS

 

     8,723,043  

(Cost $9,373,820)

     
 

 

1    MATTHEWS ASIA FUNDS


Matthews Asia Credit Opportunities Fund    March 31, 2022

Schedule of Investmentsa (unaudited) (continued)

 

FOREIGN GOVERNMENT OBLIGATIONS: 3.5%

 

      Face Amount*      Value  
     

VIETNAM: 3.5%

     

Socialist Republic of Vietnam
5.500%, 03/12/28

     1,230,000        $1,226,494  

Total Vietnam

        1,226,494  
          
   

TOTAL FOREIGN GOVERNMENT OBLIGATIONS

 

     1,226,494  

(Cost $ 1,230,000)

     
          
     

TOTAL INVESTMENTS: 98.4%

        34,369,915  

(Cost $ 43,137,115)

     

CASH AND OTHER ASSETS,

LESS LIABILITIES: 1.6%

     

 

550,462

 

NET ASSETS: 100.0%

        $34,920,377  
           

 

a   Certain securities were fair valued under the valuation policies approved by the Board of Trustees.
b   Security is a fix-to-float security, which carries a fixed coupon until a certain date, upon which it switches to a floating rate. Reference rate and spread are provided if the rate is currently floating.
c   Perpetual security with no stated maturity date. First call date is disclosed.
d   The securities may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
e   Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. The aggregate value of Level 3 security is $918,400 and 2.63% of net assets.
f   Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. The security may be resold in transactions exempt from registration normally to qualified institutional buyers. The security has been determined to be liquid in accordance with procedures adopted by the Funds’ Board of Trustees. At March 31, 2022, the aggregate value is $2,215,150, which is 6.34% of net assets.
*   All Values in USD unless otherwise specified.
Cnv.   Convertible
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).

                

 

 

matthewsasia.com  |   800.789.ASIA    2



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