NPORT-EX 2 MIMA940MATT093021.htm FOR VALIDATION PURPOSES ONLY - [239746.TXB]
Matthews Asia Total Return Bond Fund    September 30, 2021

Schedule of Investmentsa (unaudited) (continued)

NON-CONVERTIBLE CORPORATE BONDS: 64.0%

 

    

Face Amount*

     Value  
     
CHINA/HONG KONG: 41.6%    

Wanda Properties International Co., Ltd.

 

7.250%, 01/29/24b

    5,300,000       $5,119,535  

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

    4,700,000       4,700,000  

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

    5,000,000       4,637,343  

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

    5,000,000       4,199,989  

ESR Cayman, Ltd.
5.650%c, 03/02/26b,d

    SGD 5,250,000       3,936,147  

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

    4,000,000       3,764,599  

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

    3,900,000       3,522,773  

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

    3,500,000       3,291,554  

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

    2,800,000       2,324,000  

Huarong Finance 2017 Co., Ltd.
4.000%c, 11/07/22b,d

    2,500,000       2,300,000  

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

    2,200,000       2,046,000  

Sunac China Holdings, Ltd.
6.500%, 01/26/26b

    2,200,000       1,765,580  

China Cinda Asset Management Co., Ltd.

 

5.500%, 03/14/28

     CNY 10,000,000       1,688,274  

FWD Group, Ltd.
6.375%c, 09/13/24b,d

    1,600,000       1,636,121  

Agricultural Bank of China, Ltd.
4.300%, 04/11/29b

    CNY 10,000,000       1,581,510  

China Cinda Asset Management Co., Ltd.

 

3.900%, 03/05/30

     CNY 10,000,000       1,548,278  

FWD Group, Ltd.
0.000%c, 06/15/22b,d

    1,200,000       1,150,924  

Honghua Group, Ltd.
6.375%, 08/01/22b

    1,100,000       1,060,124  

Huarong Finance 2017 Co., Ltd.
4.500%c, 01/24/22b,d

    1,100,000       1,056,000  

Times China Holdings, Ltd.
6.750%, 07/08/25b

    1,100,000       1,006,500  

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

    776,000       708,932  

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

    800,000       708,157  
   

 

 

  

Total China/Hong Kong

       53,752,340  
   

 

 

  
   
     
INDIA: 13.1%    

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

    3,700,000       4,026,293  

Network i2i, Ltd.
5.650%c, 01/15/25d,e

    3,700,000       3,940,500  

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

    3,600,000       3,861,000  

Tata Motors, Ltd. 5.
875%, 05/20/25b

    3,500,000       3,754,800  

ICICI Bank UK PLC
5.375%c, 09/26/28b

    SGD 1,750,000       1,342,994  
   

 

 

  

Total India

       16,925,587  
   

 

 

  
   
     
INDONESIA: 4.5%    

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

    3,300,000       3,324,750  
    

Face Amount*

     Value  

PB International BV

    

7.625%, 01/26/22b

    5,100,000       $2,504,100  
   

 

 

  

Total Indonesia

       5,828,850  
   

 

 

  
   
     
THAILAND: 3.2%    

Kasikornbank Public Co., Ltd.

    

5.275%c, 10/14/25b,d

    3,900,000       4,085,250  
   

 

 

  

Total Thailand

       4,085,250  
   

 

 

  
   
     
PHILIPPINES: 1.6%    

Royal Capital BV

    

5.000%c, 02/05/26b,d

    1,890,000       2,012,850  
   

 

 

  

Total Philippines

       2,012,850  
   

 

 

  
   
   
TOTAL NON-CONVERTIBLE CORPORATE BONDS

 

     82,604,877  
   

 

 

  

(Cost $85,034,336)

    
   

FOREIGN GOVERNMENT OBLIGATIONS: 18.6%

 

  
 
INDONESIA: 4.9%

 

Indonesia Government Bond

    

8.250%, 05/15/29

     IDR 34,550,000,000       2,718,135  

Indonesia Government Bond

    

9.000%, 03/15/29

     IDR 28,000,000,000       2,284,017  

Indonesia Government Bond

    

7.000%, 09/15/30

     IDR 18,000,000,000       1,318,638  
   

 

 

  

Total Indonesia

       6,320,790  
   

 

 

  
   
     
MALAYSIA: 4.2%    

Malaysia Government Bond

    

4.642%, 11/07/33

     MYR 13,000,000       3,336,303  

Malaysia Government Investment Issue

 

4.119%, 11/30/34

     MYR 4,500,000       1,097,771  

Malaysia Government Investment Issue

    

3.422%, 09/30/27

     MYR 4,000,000       964,847  
   

 

 

  

Total Malaysia

       5,398,921  
   

 

 

  
   
     
CHINA/HONG KONG: 3.7%    

China Development Bank

    

3.800%, 01/25/36

     CNY 30,000,000       4,800,518  
   

 

 

  

Total China/Hong Kong

       4,800,518  
   

 

 

  
   
     
VIETNAM: 2.3%    

Viet Nam Debt & Asset Trading Corp.

    

1.000%, 10/10/25b

    3,300,000       2,994,750  
   

 

 

  

Total Vietnam

       2,994,750  
   

 

 

  
   
     
PHILIPPINES: 1.9%    

Republic of Philippines

    

3.900%, 11/26/22

     PHP 123,000,000       2,423,345  
   

 

 

  

Total Philippines

       2,423,345  
   

 

 

  
   
     
THAILAND: 1.6%    

Thailand Government Bond

    

1.600%, 12/17/29

     THB 72,000,000       2,107,515  
   

 

 

  

Total Thailand

       2,107,515  
   

 

 

  
   
   
TOTAL FOREIGN GOVERNMENT OBLIGATIONS

 

     24,045,839  
   

 

 

  

(Cost $23,501,290)

    
   
 

 

     matthewsasia.com  |  800.789.ASIA      1  
Matthews Asia Total Return Bond Fund    September 30, 2021

Schedule of Investmentsa (unaudited) (continued)

 

CONVERTIBLE CORPORATE BONDS: 15.7%

 

 

     Face Amount*     Value  
     
CHINA/HONG KONG: 14.9%    

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

    4,700,000       $4,801,285  

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

     4,400,000       4,048,000  

Pharmaron Beijing Co., Ltd., Cnv.
0.000%, 06/18/26b

    2,100,000       2,249,100  

Hansoh Pharmaceutical Group Co., Ltd., Cnv.
0.000%, 01/22/26b

    2,400,000       2,133,600  

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

    2,000,000       1,835,000  

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

     1,800,000       1,582,238  

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

    1,700,000       1,383,886  

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

    700,000       668,150  

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

     650,000       598,650  
   

 

 

  

Total China/Hong Kong

       19,299,909  
   

 

 

  
   
     
SOUTH KOREA: 0.8%    

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

    800,000       987,976  
   

 

 

  

Total South Korea

       987,976  
   

 

 

  
   
   
TOTAL CONVERTIBLE CORPORATE BONDS

 

     20,287,885  
   

 

 

  

(Cost $21,113,828)

    
   
   
TOTAL INVESTMENTS: 98.3%

 

     126,938,601  

(Cost $129,649,454)

    
   
CASH AND OTHER ASSETS,
LESS LIABILITIES: 1.7%

 

     2,185,024  
   

 

 

  

NET ASSETS: 100.0%

 

     $129,123,625  
   

 

 

  
a

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

 

b

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

 

c

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.

 

d

Perpetual security with no stated maturity date. First call date is disclosed.

 

e

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, 2021, the aggregate value is $5,324,386, which is 4.12% of net assets.

 

*

All Values in USD unless otherwise specified.

 

3M MYR-KLIBOR

Three Month Kuala Lumpur Interbank Offered Rate

 

6M THB-THBFIX

Six Month Thai Baht Interest Rate Fixing

 

Cnv.

Convertible

 

CNY

Chinese Renminbi (Yuan)

 

IDR

Indonesian Rupiah

 

KRW

Korean Won

 

MYR

Malaysian Ringgit

 

OTC

Over-the-counter

 

PHP

Philippine Peso

 

SGD

Singapore Dollar

 

THB

Thai Baht

 

USD

U.S. Dollar

 

 

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS

 

Currency
Purchased		      Currency Sold      Counterparty      Settlement
Date		     Unrealized
Appreciation
(Depreciation)		  
CNY 32,830,000      USD 5,000,000     

Bank of America, N.A.

        01/10/22       $48,422  
USD 620,000      KRW 732,220,000     

Bank of America, N.A.

        01/10/22       2,537  
USD 920,000      THB 30,820,000     

Bank of America, N.A.

        01/10/22       9,553  
                

 

 

  
                   60,512  
                

 

 

  
KRW 14,782,300,000      USD 13,000,000     

Bank of America, N.A.

        01/10/22       (534,450 ) 
SGD 9,836,750      USD 7,300,000     

Bank of America, N.A.

        01/10/22       (56,962 ) 
THB 100,340,800      USD 3,100,000     

Bank of America, N.A.

        01/10/22       (135,854 ) 
PHP 146,769,000      USD 2,900,000     

Bank of America, N.A.

        01/10/22       (58,329 ) 
USD 1,350,161      SGD 1,840,000     

Bank of America, N.A.

        01/10/22       (4,675 ) 
USD 578,967      SGD 790,000     

Bank of America, N.A.

        01/10/22       (2,729 ) 
USD 2,273,561      SGD 3,100,000     

Bank of America, N.A.

        01/10/22       (9,045 ) 
                

 

 

  
                   (802,044 ) 
                

 

 

  

Net Unrealized Depreciation

               ($741,532 ) 
                

 

 

  

 

2    MATTHEWS ASIA FUNDS     
Matthews Asia Total Return Bond Fund    September 30, 2021

Schedule of Investmentsa (unaudited) (continued)

 

OTC INTEREST RATE SWAPS*

 

Floating Rate
Paid by Fund

      Fixed Rate
Received by Fund		    Counterparty      Termination
Date		      Notional
Amount
(000)		      Value      Upfront
Premium
Paid
(Received)		      Unrealized
Appreciation		  
Rate   Frequency      Rate     Frequency

3M MYR-KLIBOR, 1.940%

     Quarterly        3.300 %    Quarterly      Bank of America, N.A.        06/19/2024        MYR 13,000        $76,059        —        $76,059  

6M THB-THBFIX, 0.288%

     Semi-annual        1.610%     Semi-annual      Bank of America, N.A.        06/21/2024        THB 281,000        252,750        —        252,750  

6M THB-THBFIX, 0.295%

     Semi-annual        1.265%     Semi-annual      Bank of America, N.A.        09/04/2024        THB 210,000        113,733        —        113,733  
                  

 

 

  

Total

                      $442,542        —        $442,542  
                  

 

 

  

*Swaps are not centrally cleared.

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      3