MATTHEWS ASIA FUNDS

SUPPLEMENT DATED OCTOBER 1, 2021

TO THE STATEMENT OF ADDITIONAL INFORMATION

DATED APRIL 30, 2021, AS SUPPLEMENTED (THE “SAI”)

For all existing and prospective shareholders of Matthews Asia Dividend Fund:

Effective immediately, S. Joyce Li, CFA, previously a Co-Manager of the Matthews Asia Dividend Fund, will act as a Lead Manager of the Matthews Asia Dividend Fund. Therefore, effective immediately, the following disclosure is added to the table under the heading “Management of the Funds – Trustees and Officers” on page 43 of the SAI:

Name and     Year of Birth	Position(s) Held     with the Trust		Term of Office and Length of     Time Served	Principal Occupation(s) During Past 5 Years
OFFICERS WHO ARE NOT TRUSTEES1
S. Joyce Li, CFA Born 1978		Vice President	Since 2021	Portfolio Manager (since 2017), Senior Research Analyst (2016-2017), Matthews (Investment Management).

In addition, effective immediately, the following disclosure is added to the table under the heading “Management of the Funds – Portfolio Managers” on page 71 of the SAI:

Name of Portfolio Manager	Account                            Category	Number of  Accounts		Total Assets in       Accounts		Number of Accounts Where Advisory Fee is Based on Account  Performance		Total Assets in Accounts Where Advisory Fee is Based on Account  Performance
S. Joyce Li, CFA* Lead Manager of the Matthews Asia Dividend Fund; Co-     Manager of the Matthews China Dividend Fund	Registered Investment Companies     Other Pooled Investment Vehicles     Other Accounts		0 1 0		0 238,837,531 0		0 0 0		0 0 0

* Information for Ms. Li is provided as of August 31, 2021.

In addition, effective immediately, the following disclosure is added to the table under the heading “Management of the Funds – Portfolio Managers” on page 75 of the SAI:

Name of     Portfolio Manager	Dollar Range of Equity Securities in each Fund
S. Joyce Li**	•    Matthews Asia Dividend Fund •    Matthews China Dividend Fund* •    Matthews Asia Innovators Fund* •    Matthews Emerging Markets Equity Fund*	Over $100,000 $10,001-$50,000 $1-$10,000 $1-$10,000

* The Portfolio Manager does not have responsibility for the day-to-day management of this Fund’s portfolio.

** Information regarding equity securities beneficially owned by Ms. Li is provided as of August 31, 2021.

Please retain this Supplement with your records.

ST066