MATTHEWS INTERNATIONAL FUNDS
dba MATTHEWS ASIA FUNDS
SUPPLEMENT DATED DECEMBER 19, 2023
TO THE PROSPECTUS FOR
THE MATTHEWS EMERGING MARKETS EQUITY FUND, MATTHEWS ASIA GROWTH FUND, MATTHEWS PACIFIC TIGER FUND, MATTHEWS ASIA INNOVATORS FUND, MATTHEWS INDIA FUND, AND MATTHEWS JAPAN FUND (TOGETHER, THE “FUNDS”) DATED APRIL 28, 2023, AS SUPPLEMENTED (THE “PROSPECTUS”)
Portfolio Manager Changes
1) For all existing and prospective shareholders of the Matthews Emerging Markets Equity Fund – Investor Class (MEGMX) and Institutional Class (MIEFX):
Effective December 19, 2023, John Paul Lech will cease to be a portfolio manager of the Funds. Therefore, effective as of the same date, all references to John Paul Lech in the Prospectus are removed in their entirety.
Matthews Emerging Markets Equity Fund
Alex Zarechnak will continue to act as a Lead Manager of the Matthews Emerging Markets Equity Fund and Andrew Mattock, CFA and Peeyush Mittal, CFA will continue to act as Co-Managers of the Fund. In addition, effective December 19, 2023, Sean Taylor and Jeremy Sutch, CFA, will act as Co-Managers of the Fund.
Therefore, effective December 19, 2023, the disclosure under the heading “Matthews Emerging Markets Equity Fund — Portfolio Managers” in the Prospectus is deleted in its entirety and replaced with the following:
Portfolio Managers
Lead Manager: Alex Zarechnak has been a Portfolio Manager of the Matthews Emerging Markets Equity Fund since 2022.
Co-Manager: Sean Taylor has been a Portfolio Manager of the Matthews Emerging Markets Equity Fund since 2023.
Co-Manager: Andrew Mattock, CFA, has been a Portfolio Manager of the Matthews Emerging Markets Equity Fund since 2023.
Co-Manager: Peeyush Mittal, CFA, has been a Portfolio Manager of the Matthews Emerging Markets Equity Fund since 2023.
Co-Manager: Jeremey Sutch, CFA, has been a Portfolio Manager of the Matthews Emerging Markets Equity Fund since 2023.
The Portfolio Managers are primarily responsible for the Fund’s day-to-day investment management decisions. The Lead Manager is supported by and consults with the Co-Managers.
2) For all existing and prospective shareholders of the Matthews Asia Growth Fund – Investor Class (MPACX) and Institutional Class (MIAPX), Matthews Asia Innovators Fund – Investor Class (MATFX) and Institutional Class (MITEX), and Matthews Japan Fund – Investor Class (MJFOX) and Institutional Class (MIJFX):
Effective December 19, 2023, Taizo Ishida will cease to be a portfolio manager of the Funds. Therefore, effective as of the same date, all references to Taizo Ishida in the Prospectus are removed in their entirety.
1
Matthews Asia Growth Fund
Effective December 19, 2023, Michael Oh, CFA, will act as Lead Manager of the Matthews Asia Growth Fund and Shuntaro Takeuchi will act as Co-Manager of the Fund. Peeyush Mittal, CFA, will continue to act as a Co-Manager of the Fund.
Therefore, effective December 19, 2023, the disclosure under the heading “Matthews Asia Growth Fund — Portfolio Managers” in the Prospectus is deleted in its entirety and replaced with the following:
Portfolio Managers
Lead Manager: Michael Oh, CFA, has been a Portfolio Manager of the Matthews Asia Growth Fund since 2020.
Co-Manager: Peeyush Mittal, CFA, has been a Portfolio Manager of the Matthews Asia Growth Fund since 2023.
Co-Manager: Shuntaro Takeuchi has been a Portfolio Manager of the Matthews Asia Growth Fund since 2023.
The Portfolio Managers are primarily responsible for the Fund’s day-to-day investment management decisions. The Lead Manager is supported by and consults with the Co-Managers.
Matthews Asia Innovators Fund
Michael Oh, CFA, will continue to act as Lead Manager of the Matthews Asia Innovators Fund and Inbok Song will continue to act as Co-Manager of the Fund.
Therefore, effective December 19, 2023, the disclosure under the heading “Matthews Asia Innovators Fund — Portfolio Managers” in the Prospectus is deleted in its entirety and replaced with the following:
Portfolio Managers
Lead Manager: Michael J. Oh, CFA, has been a Portfolio Manager of the Matthews Asia Innovators Fund since 2006.
Co-Manager: Inbok Song has been a Portfolio Manager of the Matthews Asia Innovators Fund since 2023.
The Portfolio Managers are primarily responsible for the Fund’s day-to-day investment management decisions. The Lead Manager is supported by and consults with the Co-Managers.
Matthews Japan Fund
Shuntaro Takeuchi will continue to act as Lead Manager of the Matthews Japan Fund. In addition, effective December 19, 2023, Donghoon Han will act as Lead Manager of the Fund.
Therefore, effective December 19, 2023, the disclosure under the heading “Matthews Japan Fund — Portfolio Managers” in the Prospectus is deleted in its entirety and replaced with the following:
Portfolio Managers
Lead Manager: Shuntaro Takeuchi has been a Portfolio Manager of the Matthews Japan Fund since 2019.
Lead Manager: Donghoon Han has been a Portfolio Manager of the Matthews Japan Fund since 2023.
The Portfolio Managers are primarily responsible for the Fund’s day-to-day investment management decisions. The Lead Managers are supported by and consult with the Co-Manager.
3) For all existing and prospective shareholders of the Matthews Pacific Tiger Fund – Investor Class (MAPTX) and Institutional Class (MIPTX), and Matthews India Fund – Investor Class (MINDX) and Institutional Class (MIDNX):
Effective December 19, 2023, Sharat Shroff, CFA, will cease to be a portfolio manager of the Funds. Therefore, effective as of the same date, all references to Sharat Shroff, CFA, in the Prospectus are removed in their entirety.
2
Matthews Pacific Tiger Fund
Inbok Song will continue to act as Lead Manager of the Matthews Pacific Tiger Fund and Winnie Chwang and Andrew Mattock, CFA, will continue to act as Co-Managers of the Fund. In addition, effective December 19, 2023, Sean Taylor will act as Lead Manager of the Fund, and Peeyush Mittal, CFA, and Jeremy Sutch, CFA, will act as Co-Managers of the Fund.
Therefore, effective December 19, 2023, the disclosure under the heading “Matthews Pacific Tiger Fund — Portfolio Managers” in the Prospectus is deleted in its entirety and replaced with the following:
Portfolio Managers
Lead Manager: Sean Taylor has been a Portfolio Manager of the Matthews Pacific Tiger Fund since 2023.
Lead Manager: Inbok Song has been a Portfolio Manager of the Matthews Pacific Tiger Fund since 2019.
Co-Manager: Winnie Chwang has been a Portfolio Manager of the Matthews Pacific Tiger Fund since 2021.
Co-Manager: Andrew Mattock, CFA, has been a Portfolio Manager of the Matthews Pacific Tiger Fund since 2022.
Co-Manager: Peeyush Mittal, CFA, has been a Portfolio Manager of the Matthews Pacific Tiger Fund since 2023.
Co-Manager: Jeremy Sutch, CFA, has been a Portfolio Manager of the Matthews Pacific Tiger Fund since 2023.
The Portfolio Managers are primarily responsible for the Fund’s day-to-day investment management decisions. The Lead Managers are supported by and consult with the Co-Managers.
Matthews India Fund
Peeyush Mittal, CFA, will continue to act as Lead Manager of the Matthews India Fund. In addition, effective December 19, 2023, Swagato Ghosh will act as Co-Manager of the Fund.
Therefore, effective December 19, 2023, the disclosure under the heading “Matthews India Fund — Portfolio Managers” in the Prospectus is deleted in its entirety and replaced with the following:
Portfolio Managers
Lead Manager: Peeyush Mittal, CFA, has been a Portfolio Manager of the Matthews India Fund since 2018.
Co-Manager: Swagato Ghosh has been a Portfolio Manager of the Matthews India Fund since 2023.
The Portfolio Managers are primarily responsible for the Fund’s day-to-day investment management decisions. The Lead Manager is supported by and consults with the Co-Manager.
4) Effective December 19, 2023, the disclosure relating to Donghoon Han, Peeyush Mittal, CFA, Michael Oh, CFA, Jeremy Sutch, CFA, and Shuntaro Takeuchi in the table under “Management of the Funds – Portfolio Managers” in the Prospectus is removed in its entirety and replaced with the following:
| DONGHOON HAN |
||
| Donghoon Han is a Portfolio Manager at Matthews and manages the firm’s Japan Strategy. Prior to joining the firm in 2020, Donghoon was Vice President and portfolio manager at Goldman Sachs Asset Management in Tokyo, responsible for investments in technology, automotive and transportation sectors in Japan. From 2014 to 2016, he worked as a Senior Associate at Citadel Global Equities covering technology and industrial sectors in Japan. From 2010 to 2014, he also worked as a Senior Associate at Dodge & Cox covering global technology sector with a focus on semiconductors and electronic components. Donghoon is fluent in Japanese and Korean. He received his B.A. in International Liberal Arts from Waseda University in Tokyo. Donghoon is a Chartered Member of the Securities Analysts Association of Japan. Donghoon has been a Portfolio Manager of the Matthews Japan Fund since 2023 and of the Matthews Japan Active ETF since its inception in 2023. | Lead Manager Matthews Japan Fund Matthews Japan Active ETF |
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| PEEYUSH MITTAL, CFA |
||
| Peeyush Mittal, CFA, is a Portfolio Manager at Matthews and manages the firm’s India Strategy and co-manages the firm’s Emerging Markets Equity, Emerging Markets ex China, Asia Growth and Pacific Tiger Strategies. Prior to joining the firm in 2015, he spent over three years at Franklin Templeton Asset Management India, most recently as a Senior Research Analyst. Previously, he was with Deutsche Asset & Wealth Management New York, from 2009 to 2011, researching U.S. and European stocks in the industrials and materials sectors. Peeyush began his career in 2003 with Scot Forge as an Industrial Engineer, and was responsible for implementing Lean Manufacturing systems on the production shop floor. Peeyush earned his M.B.A from The University of Chicago Booth School of Business. He received a Master of Science in Industrial Engineering from The Ohio State University and received a Bachelor of Technology in Metallurgical Engineering from The Indian Institute of Technology Madras. He is fluent in Hindi. Peeyush has been a Portfolio Manager of the Matthews India Fund since 2018, of the Matthews Emerging Markets Equity Fund, Matthews Emerging Markets Equity Active ETF, Matthews Emerging Markets ex China Active ETF, Matthews Asia Growth Fund, Matthews Pacific Tiger Fund and Matthews Pacific Tiger Active ETF since 2023 and of the Matthews India Active ETF since its inception in 2023. | Lead Manager Matthews India Fund Matthews India Active ETF
Co-Manager Matthews Emerging Markets Equity Fund Matthews Emerging Markets Equity Active ETF Matthews Emerging Markets ex China Active ETF Matthews Asia Growth Fund Matthews Pacific Tiger Fund Matthews Pacific Tiger Active ETF | |
| MICHAEL J. OH, CFA |
||
| Michael Oh, CFA, is a Portfolio Manager at Matthews and manages the firm’s Asia Growth, Asia Innovators and Korea Strategies. Michael joined Matthews in 2000 and has built his investment career at the firm. Michael received a B.A. in Political Economy of Industrial Societies from the University of California, Berkeley. He is fluent in Korean. Michael has been a Portfolio Manager of the Matthews Asia Innovators Fund since 2006, of the Matthews Asia Growth Fund since 2020,of the Matthews Asia Innovators Active ETF since its inception in 2022, and of the Matthews Korea Active ETF since its inception in 2023. | Lead Manager Matthews Asia Growth Fund Matthews Korea Active ETF Matthews Asia Innovators Fund Matthews Asia Innovators Active ETF | |
| JEREMY SUTCH, CFA |
||
| Jeremy Sutch, CFA, is a Portfolio Manager at Matthews and co-manages the firm’s Emerging Markets Equity, Emerging Markets ex China, Emerging Markets Small Companies, and Pacific Tiger Strategies. Prior to joining the firm in 2015, he was Director and Global Head of Emerging Companies at Standard Chartered Bank in Hong Kong from 2012 to 2015, responsible for the fundamental analysis of companies in Asia, with a particular focus on small- and mid-capitalization companies. From 2009 to 2012, he was Managing Director at MJP Capital in Hong Kong, which he co-founded. His prior experience has included managing small-cap equities at Indus Capital Advisors and serving as Head of Hong Kong Research for ABN AMRO Asia Securities. Jeremy earned an M.A. in French and History from the University of Edinburgh. Jeremy has been a Portfolio Manager of the Matthews Emerging Markets Small Companies Fund since 2021, and of the Matthews Emerging Markets Equity Fund, Matthews Emerging Markets Equity Active ETF, Matthews Emerging Markets ex China Active ETF, Matthews Pacific Tiger Fund and Matthews Pacific Tiger Active ETF since 2023. | Co-Manager Matthews Emerging Markets Equity Fund Matthews Emerging Markets Equity Active ETF Matthews Emerging Markets ex China Active ETF Matthews Emerging Markets Small Companies Fund Matthews Pacific Tiger Fund Matthews Pacific Tiger Active ETF | |
| SHUNTARO TAKEUCHI |
||
| Shuntaro Takeuchi is Head of Research and a Portfolio Manager at Matthews, and manages the firm’s Japan Strategy and co-manages the Asia Growth Strategy. Prior to joining the firm in 2016, he was an Executive Director for Japan Equity Sales at UBS Securities LLC in New York. Beginning in 2003, he worked on both Japanese Equity and International Equity Sales at UBS Japan Securities, based in Tokyo, and held the position of Special Situations Analyst from 2006 to 2008, and Head of International Equity Sales from 2009 to 2013. Before that, he worked at Merrill Lynch Japan from 2001 to 2003 in U.S. Equity Sales. Shuntaro received a B.A. in Commerce and Management from Hitotsubashi University in Tokyo. He is fluent in Japanese. Shuntaro has been a Portfolio Manager of the Matthews Japan Fund since 2019, of the Matthews Japan Active ETF since its inception in 2023 and of the Matthews Asia Growth Fund since 2023. | Lead Manager Matthews Japan Fund Matthews Japan Active ETF
Co-Manager Matthews Asia Growth Fund |
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In addition, effective December 19, 2023, the following disclosure for Sean Taylor and Swagato Ghosh is added to the table under “Management of the Funds – Portfolio Managers” in the Prospectus:
| SEAN TAYLOR |
||
| Sean Taylor is Chief Investment Officer designate and Portfolio Manager at Matthews, and manages the firm’s Pacific Tiger and Asia ex Japan Total Return Equity Strategies and co-manages the firm’s Emerging Markets Equity and Emerging Markets ex China Strategies. Prior to joining Matthews in Oct 2023, he was Chief Investment Officer APAC, Global Head of Emerging Markets Equity at DWS Group based in Hong Kong since 2013. From 2004 to 2011, he was an Investment Director at GAM Investments, based in London and Dubai. From 1997 to 2004, he was at Societe Generale as Head of International and Emerging Markets. Sean has over 30 years of experience, including more than a decade as a CIO. He has overseen a number of emerging markets active strategies, including Latin America, India, China, Brazil, Russia as well as international and global strategies during his career. He received his MBA from Manchester Business School and is a graduate of the Royal Military Academy, Sandhurst. Sean has been a Portfolio Manager of the Matthews Pacific Tiger Fund, Matthews Pacific Tiger Active ETF, Matthews Emerging Markets Equity Fund, Matthews Emerging Markets Equity Active ETF and Matthews Emerging Markets ex China Active ETF since 2023. | Lead Manager Matthews Pacific Tiger Fund Matthews Pacific Tiger Active ETF
Co-Manager Matthews Emerging Markets Equity Fund Matthews Emerging Markets Equity Active ETF Matthews Emerging Markets ex China Active ETF | |
| SWAGATO GHOSH |
||
| Swagato Ghosh is a Portfolio Manager at Matthews and co-manages the firm’s India Strategy. Prior to joining the firm in 2022, he was an investment analyst at Franklin Templeton India, where he was the lead cement, real estate and consumer discretionary analyst. From 2016 to 2018, he was an investment analyst at Goldman Sachs Asset Management researching the U.S. health care sector. From 2013 to 2015, Swagato was an equity research analyst at Jefferies India. He received his B.Tech in Mining Engineering from Indian Institute of Technology Kharagpur and his MBA from Indian Institute of Management Calcutta. Swagato is fluent in Hindi and Bengali. Swagato has been a Portfolio Manager for the Matthews India Fund and Matthews India Active ETF since 2023. | Co-Manager Matthews India Fund Matthews India Active ETF |
Please retain this Supplement with your records.
5
MATTHEWS INTERNATIONAL FUNDS
dba MATTHEWS ASIA FUNDS
SUPPLEMENT DATED DECEMBER 19, 2023
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED APRIL 28, 2023, AS SUPPLEMENTED (THE “SAI”)
1) For all existing and prospective shareholders of the Matthews Emerging Markets Equity Fund, Matthews Asia Growth Fund, Matthews Pacific Tiger Fund, Matthews Asia Innovators Fund, Matthews India Fund, and Matthews Japan Fund (together, the “Funds”):
Effective December 19, 2023, Taizo Ishida, John Paul Lech and Sharat Shroff, CFA, will cease to be portfolio managers of the Funds. Therefore, effective as of the same date, all references to Taizo Ishida, John Paul Lech and Sharat Shroff, CFA, in the SAI are removed in their entirety.
Matthews Emerging Markets Equity Fund
Alex Zarechnak will continue to act as a Lead Manager of the Matthews Emerging Markets Equity Fund and Andrew Mattock, CFA and Peeyush Mittal, CFA will continue to act as Co-Managers of the Fund. In addition, effective December 19, 2023, Sean Taylor and Jeremy Sutch, CFA, will act as Co-Managers of the Fund.
Matthews Asia Growth Fund
Effective December 19, 2023, Michael Oh, CFA, will act as Lead Manager of the Matthews Asia Growth Fund and Shuntaro Takeuchi will act as Co-Manager of the Fund. Peeyush Mittal, CFA, will continue to act as a Co-Manager of the Fund.
Matthews Asia Innovators Fund
Michael Oh, CFA, will continue to act as Lead Manager of the Matthews Asia Innovators Fund and Inbok Song will continue to act as Co-Manager of the Fund.
Matthews Japan Fund
Shuntaro Takeuchi will continue to act as Lead Manager of the Matthews Japan Fund. In addition, effective December 19, 2023, Donghoon Han will act as Lead Manager of the Fund.
Matthews Pacific Tiger Fund
Inbok Song will continue to act as Lead Manager of the Matthews Pacific Tiger Fund and Winnie Chwang and Andrew Mattock, CFA, will continue to act as Co-Managers of the Fund. In addition, effective December 19, 2023, Sean Taylor will act as Lead Manager of the Fund and Peeyush Mittal, CFA, and Jeremy Sutch, CFA, will act as Co-Managers of the Fund.
Matthews India Fund
Peeyush Mittal, CFA, will continue to act as Lead Manager of the Matthews India Fund. In addition, effective December 19, 2023, Swagato Ghosh will act as Co-Manager of the Fund.
2) Effective December 19, 2023, the disclosure relating to Donghoon Han, Peeyush Mittal, Michael Oh, Jeremy Sutch, and Shuntaro Takeuchi in the table under the heading “Management of the Funds – Portfolio Managers” beginning on page 54 of the SAI is hereby removed and replaced with the following:
1
| 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 | |||||
| Donghoon Han
Lead Manager of the Matthews Japan Fund and Matthews Japan Active ETF |
Registered Investment Companies Other
Pooled Investment Vehicles
Other Accounts |
0
1
0 |
0
$81,800,506
0 |
0
0
0 |
0
0
0 | |||||
| Peeyush Mittal, CFA1
Lead Manager of the Matthews India Fund and Matthews India Active ETF
Co-Manager of the Matthews Emerging Markets Equity Fund, Matthews Emerging Markets Equity Active ETF, Matthews Emerging Markets ex China Active ETF, Matthews Asia Growth Fund, Matthews Pacific Tiger Fund and Matthews Pacific Tiger Active ETF |
Registered Investment Companies Other
Pooled Investment Vehicles
Other Accounts |
0
3
0 |
0
$42,306,588
0 |
0
0
0 |
0
0
0 | |||||
| Michael Oh, CFA
Lead Manager of the Matthews Asia Growth Fund, Matthews Korea Active ETF, Matthews Asia Innovators Fund and Matthews Asia Innovators Active ETF |
Registered Investment Companies Other
Pooled Investment Vehicles
Other Accounts |
0
1
0 |
0
$30,418,657
0 |
0
0
0 |
0
0
0 | |||||
| Jeremy Sutch, CFA1
Co-Manager of the Matthews Emerging Markets Equity Fund, Matthews Emerging Markets Equity Active ETF, Matthews Emerging Markets ex China Active ETF, Matthews Emerging Markets Small Companies Fund, Matthews Pacific Tiger Fund, Matthews Pacific Tiger Active ETF |
Registered Investment Companies Other
Pooled Investment Vehicles
Other Accounts |
0
4
0 |
0
$801,008,434
0 |
0
0
0 |
0
0
0 | |||||
| Shuntaro Takeuchi1
Lead Manager of the Matthews Japan Fund and Matthews Japan Active ETF
Co-Manager of the Matthews Asia Growth Fund |
Registered Investment Companies Other
Pooled Investment Vehicles
Other Accounts |
0
2
0 |
0
$175,039,441
0 |
0
0
0 |
0
0
0 | |||||
1 Information provided as of December 13, 2023.
In addition, effective December 19, 2023, the following disclosure for Sean Taylor and Swagato Ghosh is added to the table under “Management of the Funds – Portfolio Managers” beginning on page 54 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 | |||||
| Sean Taylor1
Lead Manager of the Matthews Pacific Tiger Fund and Matthews Pacific Tiger Active ETF
Co-Manager of the Matthews Emerging Markets Equity Fund, Matthews Emerging Markets Equity Active ETF, Matthews Emerging Markets ex China Active ETF |
Registered Investment Companies Other
Pooled Investment Vehicles
Other Accounts |
0
1
0 |
0
$300,137,436
0 |
0
0
0 |
0
0
0 | |||||
| Swagato Ghosh1
Co-Manager of the Matthews India Fund and Matthews India Active ETF |
Registered Investment Companies Other
Pooled Investment Vehicles
Other Accounts |
0
0
0 |
0
0
0 |
0
0
0 |
0
0
0 | |||||
1 Information provided as of December 13, 2023.
2
3) Effective December 19, 2023, the disclosure relating to Peeyush Mittal, CFA, Jeremy Sutch, CFA, and Shuntaro Takeuchi in the table under the heading “Management of the Funds – Portfolio Managers” beginning on page 59 of the SAI is hereby removed and replaced with the following:
| Name of Portfolio Manager | Dollar Range of Equity Securities in Each Fund | |||
|
Mittal, Peeyush† |
Matthews Emerging Markets Equity Fund
Matthews China Dividend Fund*
Matthews India Fund
Matthews China Small Companies Fund* |
$10,001-$50,000
$1-$10,000
$100,001-$500,000
$1-$10,000 | ||
|
Sutch, Jeremy† |
None |
|||
|
Takeuchi, Shuntaro† |
Matthews Japan Fund
Matthews Japan Active ETF |
$100,001-$500,000
$1-$10,000 | ||
* The Portfolio Manager does not have responsibility for the day-to-day management of this Fund’s portfolio.
† Information provided as of December 13, 2023
In addition, effective December 19, 2023, the following disclosure for Sean Taylor and Swagato Ghosh is added to the table under “Management of the Funds – Portfolio Managers” beginning on page 59 of the SAI:
| Name of Portfolio Manager | Dollar Range of Equity Securities in Each Fund | |||
|
Sean Taylor† |
None |
|||
|
Swagato Ghosh† |
None |
|||
† Information provided as of December 13, 2023
Please retain this Supplement with your records.
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