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Matthews China Dividend Fund


Top 10 Holdings as of 1/31/2016

Security Sector % Net Assets
New Oriental Education & Technology Group, Inc. Consumer Discretionary 3.9
HKBN, Ltd. Telecom Services 3.5
China Construction Bank Corp. Financials 3.4
AIA Group, Ltd. Financials 3.3
China Mobile, Ltd. Telecom Services 3.3
Kweichow Moutai Co., Ltd. Consumer Staples 3.1
China Merchants Bank Co., Ltd. Financials 3.0
Sercomm Corp. Information Technology 3.0
China Maple Leaf Educational Systems, Ltd. Consumer Discretionary 2.8
Shenzhou International Group Holdings, Ltd. Consumer Discretionary 2.8
Total 32.1
Top 10 holdings may combine more than one security from the same issuer and related depositary receipts.
Source: BNY Mellon Investment Servicing (US) Inc.
 

Portfolio Breakdown (%) as of 12/31/2015

Sector AllocationMarket Cap
Exposure
Asset Type
Breakdown
China Exposure
  Fund MSCI China IndexDifference
Consumer Discretionary 21.9 6.3 15.6
Financials 21.0 37.3 -16.3
Industrials 18.1 7.5 10.6
Telecom Services 8.6 9.4 -0.8
Information Technology 8.0 22.6 -14.6
Consumer Staples 7.2 3.1 4.1
Utilities 4.7 3.8 0.9
Health Care 4.7 2.2 2.5
Materials 2.2 1.3 0.9
Energy 1.4 6.5 -5.1
Cash and Other Assets, Less Liabilities 2.2 0.0 2.2
Source: FactSet Research Systems.


Portfolio Characteristics as of 12/31/2015

Number of Securities1

45

Weighted Average
Market Cap

$23.1 billion

P/E using FY1 estimates

12.4x

P/E using FY2 estimates

11.6x
1Source: BNY Mellon Investment Servicing (US) Inc.
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; the values may not sum to 100% due to marginal rounding errors. The P/E figures represent the Weighted Harmonic Average P/E—which measures the price/earnings ratio of the Fund’s entire portfolio, excluding negative earners—weighted by the size of the company’s position within the portfolio. P/E estimates are forward looking. There is no guarantee that portfolio composition will remain unchanged or P/E estimates will be realized.

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.