NPORT-EX 2 MIMA800_MAT_India_Fund.htm NPORT-EX
Matthews India Fund    September 30, 2019
Schedule of Investmentsa (unaudited)   
COMMON EQUITIES: 100.3%   

 

      Shares                     Value  

FINANCIALS: 39.2%

             

Banks: 21.9%

     

HDFC Bank, Ltd.

    4,672,408     $80,970,603  

Kotak Mahindra Bank, Ltd.

    2,596,037     60,295,567  

Axis Bank, Ltd.

    4,913,532     47,549,733  

DCB Bank, Ltd.

    11,969,871     33,005,662  

Bandhan Bank, Ltd.b,c

   3,589,314     24,940,403  

AU Small Finance Bank, Ltd.b,c

   1,700,486     15,835,465  
    

 

 

 

       262,597,433  
    

 

 

 

Consumer Finance: 13.0%

     

Cholamandalam Investment and Finance Co., Ltd.

    13,471,420     58,562,452  

Bajaj Finance, Ltd.

    556,817     31,835,551  

Shriram City Union Finance, Ltd.

    1,624,196     30,783,578  

CreditAccess Grameen, Ltd.d

   2,032,000     18,869,885  

Sundaram Finance, Ltd.

    695,531     16,023,876  
    

 

 

 

       156,075,342  
    

 

 

 

Thrifts & Mortgage Finance: 3.0%

     

Aavas Financiers, Ltd.d

   1,174,534     26,452,737  

Housing Development Finance Corp., Ltd.

    368,106     10,274,675  
    

 

 

 

       36,727,412  
    

 

 

 

Capital Markets: 1.3%

     

CRISIL, Ltd.

    479,926     9,277,688  

Indian Energy Exchange, Ltd.b,c

   3,497,308     5,957,799  
    

 

 

 

       15,235,487  
    

 

 

 

Total Financials

        470,635,674  
    

 

 

 

    

CONSUMER DISCRETIONARY: 15.4%

             

Automobiles: 12.1%

     

Suzuki Motor Corp.

    1,839,100     78,344,428  

Eicher Motors, Ltd.

    266,539     66,909,094  
    

 

 

 

       145,253,522  
    

 

 

 

Household Durables: 3.3%

     

Symphony, Ltd.

    1,755,550     32,010,578  

LA Opala RG, Ltd.

    2,937,800     7,453,441  
    

 

 

 

       39,464,019  
    

 

 

 

Total Consumer Discretionary

        184,717,541  
    

 

 

 

    

CONSUMER STAPLES: 13.7%

             

Tobacco: 5.5%

     

VST Industries, Ltd.†

   1,011,092     53,851,155  

ITC, Ltd.

    3,337,649     12,245,783  
    

 

 

 

       66,096,938  
    

 

 

 

Personal Products: 4.2%

     

Marico, Ltd.

    4,769,013     26,537,653  

Bajaj Consumer Care, Ltd.

    4,962,850     17,223,441  

Dabur India, Ltd.

    1,186,347     7,492,704  
    

 

 

 

       51,253,798  
    

 

 

 

Food Products: 4.0%

     

Zydus Wellness, Ltd.

    1,734,795     41,866,541  
      Shares                     Value  

Nestle India, Ltd.

    30,163     $5,914,270  
    

 

 

 

       47,780,811  
    

 

 

 

Total Consumer Staples

        165,131,547  
    

 

 

 

    

INFORMATION TECHNOLOGY: 12.0%

             

IT Services: 11.6%

     

Wipro, Ltd.

    12,047,428     40,825,018  

NIIT Technologies, Ltd.

    1,680,162     33,084,508  

Cognizant Technology Solutions Corp. Class A

    535,500     32,271,907  

Mphasis, Ltd.

    1,464,076     19,770,629  

Larsen & Toubro Infotech, Ltd.b,c

   302,596     6,455,325  

Tata Consultancy Services, Ltd.

    137,397     4,070,021  

eClerx Services, Ltd.

    419,911     2,576,712  
    

 

 

 

       139,054,120  
    

 

 

 

Software: 0.4%

     

Tata Elxsi, Ltd.

    578,649     5,532,766  
    

 

 

 

Total Information Technology

        144,586,886  
    

 

 

 

    

HEALTH CARE: 10.2%

             

Pharmaceuticals: 7.5%

     

Alembic Pharmaceuticals, Ltd.

    4,147,557     29,812,351  

Natco Pharma, Ltd.

    2,922,192     24,008,970  

Caplin Point Laboratories, Ltd.†

   3,870,311     23,203,406  

Lupin, Ltd.

    1,337,380     13,506,125  
    

 

 

 

       90,530,852  
    

 

 

 

Life Sciences Tools & Services: 1.7%

     

Syngene International, Ltd.b,c

   4,785,970     20,980,407  
    

 

 

 

Health Care Equipment & Supplies: 1.0%

     

Poly Medicure, Ltd.

    3,594,824     11,567,850  
    

 

 

 

Total Health Care

        123,079,109  
    

 

 

 

    

INDUSTRIALS: 5.6%

             

Machinery: 2.3%

     

AIA Engineering, Ltd.

    628,021     15,809,791  

Escorts, Ltd.

    1,479,806     12,135,985  
    

 

 

 

       27,945,776  
    

 

 

 

Airlines: 1.9%

     

InterGlobe Aviation, Ltd.b,c

   831,525     22,205,204  
    

 

 

 

Air Freight & Logistics: 1.4%

     

Blue Dart Express, Ltd.

    475,939     16,683,331  
    

 

 

 

Total Industrials

        66,834,311  
    

 

 

 

    

MATERIALS: 2.1%

             

Chemicals: 2.1%

     

UPL, Ltd.

    1,982,144     16,901,226  

Pidilite Industries, Ltd.

    322,373     6,569,781  

Gulf Oil Lubricants India, Ltd.

    122,343     1,488,960  
    

 

 

 

Total Materials

        24,959,967  
    

 

 

 

 


 

matthewsasia.com  |  800.789.ASIA   1

Matthews India Fund    September 30, 2019
Schedule of Investmentsa (unaudited) (continued)   
COMMON EQUITIES (continued)   

 

      Shares                     Value  

COMMUNICATION SERVICES: 2.1%

             

Interactive Media & Services: 2.1%

     

Info Edge India, Ltd.

    864,136     $24,663,296  
    

 

 

 

Total Communication Services

        24,663,296  
    

 

 

 

    

TOTAL INVESTMENTS: 100.3%

          1,204,608,331  

(Cost $1,096,044,213)

     
    

LIABILITIES IN EXCESS OF CASH

     

AND OTHER ASSETS: (0.3%)

        (3,244,293)  
    

 

 

 

NET ASSETS: 100.0%

        $1,201,364,038  
    

 

 

 

a

Certain securities were fair valued under the valuation policies approved by the Board of Trustees.

 

b

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 September 30, 2019, the aggregate value is $96,374,603, which is 8.02% of net assets.

 

c

The securities may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

 

d

Non-income producing security.

 

†

Affiliated Issuer, as defined under the Investment Company Act of 1940 (ownership of 5% or more of the outstanding voting securities of this issuer)

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).

 


 

2   MATTHEWS ASIA FUNDS