NPORT-EX 2 MIMA110MATT093021.htm FOR VALIDATION PURPOSES ONLY - [239746.TXC]
Matthews Asia Credit Opportunities Fund    September 30, 2021

Schedule of Investmentsa (unaudited)

NON-CONVERTIBLE CORPORATE BONDS: 72.0%

 

     Face Amount*     Value  
CHINA/HONG KONG: 36.8%

 

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

    5,600,000       $4,703,988  

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

    4,800,000       4,625,995  

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

    3,500,000       3,246,140  

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

    3,400,000       3,197,509  

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

    3,400,000       3,071,135  

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

    2,700,000       2,541,105  

Wanda Group Overseas, Ltd.
7.500%, 07/24/22d

    2,500,000       2,352,484  

Wanda Properties International Co., Ltd.
7.250%, 01/29/24d

    2,400,000       2,318,280  

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

    1,700,000       1,700,000  

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

    1,900,000       1,577,000  

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

    1,600,000       1,472,000  

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

    1,600,000       1,284,058  

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

    1,070,000       977,522  

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

    1,000,000       959,104  

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

    900,000       920,318  

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

    700,000       672,000  

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

    550,000       486,858  

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

    400,000       372,000  
   

 

 

  

Total China/Hong Kong

       36,477,496  
   

 

 

  
   
 
INDIA: 19.2%

 

Tata Motors, Ltd.
5.875%, 05/20/25d

    4,200,000       4,505,760  

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

    3,000,000       3,195,000  

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

    2,900,000       3,155,743  

HDFC Bank, Ltd.
3.700%b, 08/25/26c,e

    3,000,000       2,988,000  

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

    2,600,000       2,788,500  

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

    2,200,000       2,343,000  
   

 

 

  

Total India

       18,976,003  
   

 

 

  
   
 
INDONESIA: 10.3%

 

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

    4,000,000       4,030,000  

PB International BV
7.625%, 01/26/22d

    5,300,000       2,602,300  
     Face Amount*     Value  

PT Adaro Indonesia
4.250%, 10/31/24d

    2,000,000       $2,035,000  

Theta Capital Pte, Ltd.
6.750%, 10/31/26d

    1,500,000       1,478,969  
   

 

 

  

Total Indonesia

       10,146,269  
   

 

 

  
   
 
THAILAND: 2.8%

 

Kasikornbank Public Co., Ltd.
5.275%b, 10/14/25c,d

    2,600,000       2,723,500  
   

 

 

  

Total Thailand

       2,723,500  
   

 

 

  
   
 
AUSTRALIA: 2.1%

 

Australia & New Zealand Banking Group, Ltd.
6.750%b, 06/15/26c,d

    1,800,000       2,099,898  
   

 

 

  

Total Australia

       2,099,898  
   

 

 

  
   
 
PHILIPPINES: 0.8%

 

Royal Capital BV
4.875%b, 05/05/24c,d

    782,000       815,235  
   

 

 

  

Total Philippines

       815,235  
   

 

 

  
   
   
TOTAL NON-CONVERTIBLE CORPORATE BONDS

 

     71,238,401  
   

 

 

  

(Cost $73,560,586)

    
   

CONVERTIBLE CORPORATE BONDS: 17.1%

 

 
CHINA/HONG KONG: 14.6%

 

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

    4,100,000       4,188,355  

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

     3,450,000       3,174,000  

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

    1,400,000       1,499,400  

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

    1,600,000       1,422,400  

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

    1,400,000       1,284,500  

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

     1,300,000       1,142,728  

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

    1,100,000       895,455  

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

    500,000       477,250  

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

     400,000       368,400  
   

 

 

  

Total China/Hong Kong

       14,452,488  
   

 

 

  
   
 
MALAYSIA: 1.9%

 

Cerah Capital, Ltd., Cnv.
0.000%, 08/08/24d

    1,900,000       1,882,900  
   

 

 

  

Total Malaysia

       1,882,900  
   

 

 

  
 

 

     matthewsasia.com  |  800.789.ASIA      1  
Matthews Asia Credit Opportunities Fund    September 30, 2021

Schedule of Investmentsa (unaudited) (continued)

 

CONVERTIBLE CORPORATE BONDS (continued)

 

 

     Face Amount*     Value  
SOUTH KOREA: 0.6%

 

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

    500,000       $617,485  
   

 

 

  

Total South Korea

       617,485  
   

 

 

  
   
   
TOTAL CONVERTIBLE CORPORATE BONDS

 

     16,952,873  
   

 

 

  

(Cost $17,577,659)

    
   

FOREIGN GOVERNMENT OBLIGATIONS: 6.5%

 

 
VIETNAM: 6.5%

 

Viet Nam Debt & Asset Trading Corp.
1.000%, 10/10/25d

    5,689,000       5,162,768  

Socialist Republic of Vietnam
5.500%, 03/12/28

     1,260,000       1,266,287  
   

 

 

  

Total Vietnam

       6,429,055  
   

 

 

  
   
   
TOTAL FOREIGN GOVERNMENT OBLIGATIONS

 

     6,429,055  
   

 

 

  

(Cost $6,007,694)

    
   
   
TOTAL INVESTMENTS: 95.6%

 

     94,620,329  

(Cost $97,145,939)

    
   
CASH AND OTHER ASSETS,
LESS LIABILITIES: 4.4%

 

     4,372,010  
   

 

 

  

NET ASSETS: 100.0%

 

     $98,992,339  
   

 

 

  
a

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

 

b

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.

 

c

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

 

d

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

 

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 $7,078,455, which is 7.15% of net assets.

 

*

All Values in USD unless otherwise specified.

 

Cnv.

Convertible

 

USD

U.S. Dollar

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