0001752724-21-251060.txt : 20211123 0001752724-21-251060.hdr.sgml : 20211123 20211123102302 ACCESSION NUMBER: 0001752724-21-251060 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20210930 FILED AS OF DATE: 20211123 PERIOD START: 20211231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MATTHEWS INTERNATIONAL FUNDS CENTRAL INDEX KEY: 0000923184 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-08510 FILM NUMBER: 211435562 BUSINESS ADDRESS: STREET 1: FOUR EMBARCADERO CENTER STREET 2: SUITE 550 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 8007898742 MAIL ADDRESS: STREET 1: FOUR EMBARCADERO CENTER STREET 2: SUITE 550 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 0000923184 S000001036 MATTHEWS INDIA FUND C000002794 Investor Class Shares MINDX C000093228 Institutional Class Shares MIDNX NPORT-P 1 primary_doc.xml NPORT-P false 0000923184 XXXXXXXX S000001036 C000002794 C000093228 Matthews International Funds 811-08510 0000923184 5493007IYPQKGSDVTS49 Four Embarcadero Center Suite 550 San Francisco 94111 415-788-7553 Matthews India Fund S000001036 549300DGDF42K8MZTH75 2021-12-31 2021-09-30 N 823805025.78 6147679.89 817657345.89 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 11074158.52000000 N Infosys Ltd 335800TYLGG93MM7PR89 Infosys Ltd 000000000 2283502.00000000 NS 51196640.00000000 6.261380792008 Long EC CORP IN N 2 N N N Ramco Cements Ltd/The 3358003MPDJN515PDG51 Ramco Cements Ltd/The 000000000 662873.00000000 NS 8778066.81000000 1.073563009508 Long EC CORP IN N 2 N N N Maruti Suzuki India Ltd 335800D27PBEESKKD357 Maruti Suzuki India Ltd 000000000 138184.00000000 NS 13629616.01000000 1.666910482552 Long EC CORP IN N 2 N N N Bajaj Finance Ltd 335800YTEXC3DO4Z6F68 Bajaj Finance Ltd 000000000 356578.00000000 NS 36691308.24000000 4.487369730661 Long EC CORP IN N 2 N N N Ambuja Cements Ltd 335800NT6LQHR1428E20 Ambuja Cements Ltd 000000000 1334962.00000000 NS 7174296.03000000 0.877420849462 Long EC CORP IN N 2 N N N Trent Ltd 335800IYA8EHI7MW7G59 Trent Ltd 000000000 802019.00000000 NS 11040174.32000000 1.350220159519 Long EC CORP IN N 2 N N N PI Industries Ltd 335800PEGP94E4CC1D11 PI Industries Ltd 000000000 147660.00000000 NS 6305522.56000000 0.771169315813 Long EC CORP IN N 2 N N N Divi's Laboratories Ltd 335800C1DHFG1C9T1M03 Divi's Laboratories Ltd 000000000 115806.00000000 NS 7477046.74000000 0.914447448871 Long EC CORP IN N 2 N N N VST Industries Ltd 335800JW3EQAV3RB8F15 VST Industries Ltd 000000000 215276.00000000 NS 9823493.44000000 1.201419334074 Long EC CORP IN N 2 N N N Carborundum Universal Ltd 335800T32DYFKLROEO23 Carborundum Universal Ltd 000000000 590474.00000000 NS 7021785.13000000 0.858768671900 Long EC CORP IN N 2 N N N Bosch Ltd 3358008TVK7S8BSVVW82 Bosch Ltd 000000000 52627.00000000 NS 10936232.58000000 1.337508020318 Long EC CORP IN N 2 N N N Dabur India Ltd 335800MJPUA2E1FSFL38 Dabur India Ltd 000000000 1912658.00000000 NS 15870896.06000000 1.941020421301 Long EC CORP IN N 2 N N N Cholamandalam Investment and F 3358008DNPV45O4EII52 Cholamandalam Investment and Finance Co Ltd 000000000 1067759.00000000 NS 8060640.38000000 0.985821312621 Long EC CORP IN N 2 N N N Zomato Ltd 335800T4VOF9ETHF8W59 Zomato Ltd 000000000 1780740.00000000 NS 3277074.99000000 0.400788301661 Long EC CORP IN N 1 N N N Crompton Greaves Consumer Elec 335800DIIEEWMH3UDH51 Crompton Greaves Consumer Electricals Ltd 000000000 2148828.00000000 NS 13845154.01000000 1.693270913493 Long EC CORP IN N 2 N N N Poly Medicure Ltd 335800XM9YRKFWFVXO61 Poly Medicure Ltd 000000000 447801.00000000 NS 5573353.46000000 0.681624581252 Long EC CORP IN N 2 N N N Mindtree Ltd 335800IGQJMVUTVR2N49 Mindtree Ltd 000000000 218694.00000000 NS 12315167.71000000 1.506152641066 Long EC CORP IN N 2 N N N Whirlpool of India Ltd 335800XP84MJSVAKMW93 Whirlpool of India Ltd 000000000 172707.00000000 NS 5302695.12000000 0.648522898577 Long EC CORP IN N 2 N N N Pidilite Industries Ltd 335800APXGEBZ349GN74 Pidilite Industries Ltd 000000000 314652.00000000 NS 10075773.74000000 1.232273371069 Long EC CORP IN N 2 N N N Asian Paints Ltd 335800HEHXGYRUNERD75 Asian Paints Ltd 000000000 170548.00000000 NS 7434337.76000000 0.909224114156 Long EC CORP IN N 2 N N N ICICI Bank Ltd R7RX8ER1V4666J8D1I38 ICICI Bank Ltd 000000000 4416280.00000000 NS 41498521.45000000 5.075294884659 Long EC CORP IN N 2 N N N Cummins India Ltd 3358002PR6NKJRU4YS77 Cummins India Ltd 000000000 629639.00000000 NS 8388779.70000000 1.025952954763 Long EC CORP IN N 2 N N N Suprajit Engineering Ltd 335800VMF199CMOTOR83 Suprajit Engineering Ltd 000000000 674985.00000000 NS 2912817.08000000 0.356239333584 Long EC CORP IN N 2 N N N Zydus Wellnes Ltd 335800YCS4FG8P1D1Y21 Zydus Wellnes Ltd 000000000 583249.00000000 NS 18556283.49000000 2.269444967781 Long EC CORP IN N 2 N N N IndusInd Bank Ltd 335800JDVJ8HSXG9G512 IndusInd Bank Ltd 000000000 596581.00000000 NS 8857927.75000000 1.083330051949 Long EC CORP IN N 2 N N N Hindustan Unilever Ltd 5493007IW5N37IKRPM32 Hindustan Unilever Ltd 000000000 337060.00000000 NS 12256245.74000000 1.498946447629 Long EC CORP IN N 2 N N N IndiaMart InterMesh Ltd N/A IndiaMart InterMesh Ltd 000000000 51020.00000000 NS 5729200.16000000 0.700684729220 Long EC CORP IN N 2 N N N Neuland Laboratories Ltd 335800AVHZURTYQ17N08 Neuland Laboratories Ltd 000000000 400066.00000000 NS 8385068.60000000 1.025499084934 Long EC CORP IN N 1 N N N ABB India Ltd 5493001BUNB8WEF9JI21 ABB India Ltd 000000000 240745.00000000 NS 6046567.38000000 0.739498936858 Long EC CORP IN N 2 N N N Kotak Mahindra Bank Ltd 335800E6GTTXKHXE2I75 Kotak Mahindra Bank Ltd 000000000 1064299.00000000 NS 28642878.85000000 3.503041829682 Long EC CORP IN N 2 N N N Housing Development Finance Co 335800OX2H9AP7NHLT64 Housing Development Finance Corp Ltd 000000000 645218.00000000 NS 23845901.61000000 2.916368541157 Long EC CORP IN N 2 N N N Shriram City Union Finance Ltd 335800FBXGCGMOP89292 Shriram City Union Finance Ltd 000000000 1100949.00000000 NS 30157348.08000000 3.688262354834 Long EC CORP IN N 1 N N N Ashok Leyland Ltd 3358001BZKWERVWYCK35 Ashok Leyland Ltd 000000000 7306502.00000000 NS 13092873.40000000 1.601266528798 Long EC CORP IN N 2 N N N Axis Bank Ltd 549300HVNWMJPOFVNI41 Axis Bank Ltd 000000000 2163455.00000000 NS 22179470.15000000 2.712562941125 Long EC CORP IN N 2 N N N Birlasoft Ltd 335800287UMX47DWBF82 Birlasoft Ltd 000000000 1782699.00000000 NS 9763146.24000000 1.194038834124 Long EC CORP IN N 2 N N N Greaves Cotton Ltd 335800M8Q4J931FEF919 Greaves Cotton Ltd 000000000 3165723.00000000 NS 5817491.03000000 0.711482757323 Long EC CORP IN N 2 N N N Reliance Industries Ltd 5493003UOETFYRONLG31 Reliance Industries Ltd 000000000 141310.00000000 NS 3542104.78000000 0.433201609183 Long EC CORP IN N 2 N N N Tata Consultancy Services Ltd 335800ZJKU9GPQRE2U66 Tata Consultancy Services Ltd 000000000 706853.00000000 NS 35822080.06000000 4.381062585698 Long EC CORP IN N 2 N N N Quess Corp Ltd 335800IMP1C9KOQZDK11 Quess Corp Ltd 000000000 616586.00000000 NS 7563014.69000000 0.924961382419 Long EC CORP IN N 2 N N N Burger King India Ltd 335800NJ2UVPX11GIH32 Burger King India Ltd 000000000 2306946.00000000 NS 5025395.78000000 0.614609017488 Long EC CORP IN N 2 N N N Gujarat Pipavav Port Ltd 335800Y6JBMRA4Y8TA95 Gujarat Pipavav Port Ltd 000000000 4175130.00000000 NS 6192706.99000000 0.757371901705 Long EC CORP IN N 2 N N N Avenue Supermarts Ltd 335800B2ZPJKOU2ZM776 Avenue Supermarts Ltd 000000000 438383.00000000 NS 25024112.12000000 3.060464416516 Long EC CORP IN N 2 N N N Tech Mahindra Ltd 3358005FZUZ1I25XQH69 Tech Mahindra Ltd 000000000 760446.00000000 NS 14078923.35000000 1.721861048612 Long EC CORP IN N 2 N N N AIA Engineering Ltd 3358009DFG4JFX1O8H85 AIA Engineering Ltd 000000000 155767.00000000 NS 4096452.58000000 0.500998688581 Long EC CORP IN N 2 N N N Natco Pharma Ltd 33580086GIBRWXSNGG39 Natco Pharma Ltd 000000000 318811.00000000 NS 3816674.08000000 0.466781604688 Long EC CORP IN N 2 N N N Metropolis Healthcare Ltd 335800SD5OOGR1D97215 Metropolis Healthcare Ltd 000000000 261249.00000000 NS 9476102.05000000 1.158933151843 Long EC CORP IN N 2 N N N Vaibhav Global Ltd 335800DA4OLBMGEJXV59 Vaibhav Global Ltd 000000000 757413.00000000 NS 7117716.69000000 0.870501161125 Long EC CORP IN N 2 N N N Reliance Industries Ltd 5493003UOETFYRONLG31 Reliance Industries Ltd 000000000 1924028.00000000 NS 65118365.09000000 7.964016396027 Long EC CORP IN N 2 N N N Thyrocare Technologies Ltd N/A Thyrocare Technologies Ltd 000000000 16039.00000000 NS 250842.34000000 0.030678173596 Long EC CORP IN N 2 N N N HDFC Bank Ltd 335800ZQ6I4E2JXENC50 HDFC Bank Ltd 000000000 2668055.00000000 NS 57038369.09000000 6.975827879087 Long EC CORP IN N 2 N N N Laurus Labs Ltd 335800S8HO8QRYP3VQ26 Laurus Labs Ltd 000000000 2023190.00000000 NS 16693110.11000000 2.041577709037 Long EC CORP IN N 2 N N N Larsen & Toubro Infotech Ltd 335800DY1I1WFHVV6T22 Larsen & Toubro Infotech Ltd 000000000 159450.00000000 NS 12329337.67000000 1.507885635954 Long EC CORP IN N 2 N N N Cartrade Tech Ltd 984500F5CDO5D86C1326 Cartrade Tech Ltd 000000000 162234.00000000 NS 2701659.73000000 0.330414658851 Long EC CORP IN N 1 N N N Bandhan Bank Ltd 335800Q13QAC32IOCH33 Bandhan Bank Ltd 000000000 5196478.00000000 NS 19677919.00000000 2.406621685588 Long EC CORP IN N 2 N N N Info Edge India Ltd 335800MXUVHTBF9DEC78 Info Edge India Ltd 000000000 316811.00000000 NS 27345260.92000000 3.344342352875 Long EC CORP IN N 2 N N N BRITANNIA INDUSTRIES LTD 335800RRN5EVHNNAXN80 Britannia Industries Ltd 000000000 1996476.00000000 PA 27052.77000000 0.003308570532 Long DBT CORP IN N 2 2024-06-03 Fixed 5.50000000 N N N N N N HCL Technologies Ltd 549300C1F8OLYSOQYB65 HCL Technologies Ltd 000000000 1259977.00000000 NS 21610432.55000000 2.642969290085 Long EC CORP IN N 2 N N N 2021-11-17 Matthews International Funds Shai Malka Shai Malka Treasurer XXXX NPORT-EX 2 MIMA800MATT093021.htm FOR VALIDATION PURPOSES ONLY - [239746.TXL]
Matthews India Fund    September 30, 2021

Schedule of Investmentsa (unaudited)

COMMON EQUITIES: 103.1%

 

     Shares     Value  
FINANCIALS: 33.8%    

Banks: 21.7%

    

HDFC Bank, Ltd.

     2,668,055       $57,038,369  

ICICI Bank, Ltd.

     4,416,280       41,498,521  

Kotak Mahindra Bank, Ltd.

     1,064,299       28,642,879  

Axis Bank, Ltd.b

    2,163,455       22,179,470  

Bandhan Bank, Ltd.c,d

    5,196,478       19,677,919  

IndusInd Bank, Ltd.

     596,581       8,857,928  
   

 

 

  
      177,895,086  
   

 

 

  
   

Consumer Finance: 9.2%

    

Bajaj Finance, Ltd.

     356,578       36,691,308  

Shriram City Union Finance, Ltd.

     1,100,949       30,157,348  

Cholamandalam Investment and Finance Co., Ltd.

     1,067,759       8,060,641  
   

 

 

  
      74,909,297  
   

 

 

  
   

Thrifts & Mortgage Finance: 2.9%

    

Housing Development Finance Corp., Ltd.

     645,218       23,845,902  
   

 

 

  
   

Total Financials

       276,650,285  
   

 

 

  
   
     
INFORMATION TECHNOLOGY: 19.2%    

IT Services: 18.0%

    

Infosys, Ltd.

     2,283,502       51,196,640  

Tata Consultancy Services, Ltd.

     706,853       35,822,080  

HCL Technologies, Ltd.

     1,259,977       21,610,432  

Tech Mahindra, Ltd.

     760,446       14,078,923  

Larsen & Toubro Infotech, Ltd.c,d

    159,450       12,329,338  

Mindtree, Ltd.

     218,694       12,315,168  
   

 

 

  
      147,352,581  
   

 

 

  
   

Software: 1.2%

    

Birlasoft, Ltd.

     1,782,699       9,763,146  
   

 

 

  

Total Information Technology

       157,115,727  
   

 

 

  
   
     
CONSUMER STAPLES: 10.0%    

Food & Staples Retailing: 3.1%

    

Avenue Supermarts, Ltd.b,c,d

    438,383       25,024,112  
   

 

 

  
   

Food Products: 2.3%

    

Zydus Wellness, Ltd.

     583,249       18,556,284  
   

 

 

  
   

Personal Products: 1.9%

    

Dabur India, Ltd.

     1,912,658       15,870,896  
   

 

 

  
   

Household Products: 1.5%

    

Hindustan Unilever, Ltd.

     337,060       12,256,246  
   

 

 

  
   

Tobacco: 1.2%

    

VST Industries, Ltd.

     215,276       9,823,493  
   

 

 

  

Total Consumer Staples

       81,531,031  
   

 

 

  
   
     
CONSUMER DISCRETIONARY: 9.3%    

Household Durables: 2.3%

    

Crompton Greaves Consumer Electricals, Ltd.

     2,148,828       13,845,154  

Whirlpool of India, Ltd.

     172,707       5,302,695  
   

 

 

  
      19,147,849  
   

 

 

  
   

Auto Components: 1.7%

    

Bosch, Ltd.

     52,627       10,936,232  
     Shares     Value  

Suprajit Engineering, Ltd.

     674,985       $2,912,817  
   

 

 

  
      13,849,049  
   

 

 

  
   

Automobiles: 1.7%

    

Maruti Suzuki India, Ltd.

     138,184       13,629,616  
   

 

 

  
   

Multiline Retail: 1.4%

    

Trent, Ltd.

     802,019       11,040,174  
   

 

 

  
   

Textiles, Apparel & Luxury Goods: 0.9%

    

Vaibhav Global, Ltd.

     757,413       7,117,717  
   

 

 

  
   

Internet & Direct Marketing Retail: 0.7%

 

Zomato, Ltd.b

    1,780,740       3,277,075  

Cartrade Tech, Ltd.b

    162,234       2,701,660  
   

 

 

  
      5,978,735  
   

 

 

  
   

Hotels, Restaurants & Leisure: 0.6%

    

Burger King India, Ltd.b

    2,306,946       5,025,396  
   

 

 

  

Total Consumer Discretionary

       75,788,536  
   

 

 

  
   
     
ENERGY: 8.4%    

Oil, Gas & Consumable Fuels: 8.4%

    

Reliance Industries, Ltd.

     1,924,028       65,118,365  

Reliance Industries, Ltd. - partially paid

     141,310       3,542,105  
   

 

 

  

Total Energy

       68,660,470  
   

 

 

  
   
     
INDUSTRIALS: 7.8%    

Machinery: 4.7%

    

Ashok Leyland, Ltd.

     7,306,502       13,092,873  

Cummins India, Ltd.

     629,639       8,388,780  

Carborundum Universal, Ltd.

     590,474       7,021,785  

Greaves Cotton, Ltd.

     3,165,723       5,817,491  

AIA Engineering, Ltd.

     155,767       4,096,453  
   

 

 

  
      38,417,382  
   

 

 

  
   

Professional Services: 0.9%

    

Quess Corp., Ltd.c,d

    616,586       7,563,015  
   

 

 

  
   

Transportation Infrastructure: 0.8%

    

Gujarat Pipavav Port, Ltd.

     4,175,130       6,192,707  
   

 

 

  
   

Electrical Equipment: 0.7%

    

ABB India, Ltd.

     240,745       6,046,567  
   

 

 

  
   

Trading Companies & Distributors: 0.7%

 

IndiaMart InterMesh, Ltd.c,d

    51,020       5,729,200  
   

 

 

  

Total Industrials

       63,948,871  
   

 

 

  
   
     
HEALTH CARE: 6.3%    

Pharmaceuticals: 3.5%

    

Laurus Labs, Ltd.c,d

    2,023,190       16,693,110  

Neuland Laboratories, Ltd.

     400,066       8,385,069  

Natco Pharma, Ltd.

     318,811       3,816,674  
   

 

 

  
      28,894,853  
   

 

 

  
   

Health Care Providers & Services: 1.2%

 

Metropolis Healthcare, Ltd.c,d

    261,249       9,476,102  
 

 

     matthewsasia.com  |  800.789.ASIA      1  
Matthews India Fund    September 30, 2021

Schedule of Investmentsa (unaudited) (continued)

COMMON EQUITIES (continued)

 

     Shares     Value  

Thyrocare Technologies, Ltd.c,d

    16,039       $250,842  
   

 

 

  
      9,726,944  
   

 

 

  
   

Life Sciences Tools & Services: 0.9%

 

  

Divi’s Laboratories, Ltd.

     115,806       7,477,047  
   

 

 

  
   

Health Care Equipment & Supplies: 0.7%

 

  

Poly Medicure, Ltd.

     447,801       5,573,353  
   

 

 

  

Total Health Care

       51,672,197  
   

 

 

  
   
     
MATERIALS: 4.9%    

Chemicals: 2.9%

    

Pidilite Industries, Ltd.

     314,652       10,075,774  

Asian Paints, Ltd.

     170,548       7,434,338  

PI Industries, Ltd.

     147,660       6,305,522  
   

 

 

  
      23,815,634  
   

 

 

  
   

Construction Materials: 2.0%

    

Ramco Cements, Ltd.

     662,873       8,778,067  

Ambuja Cements, Ltd.

     1,334,962       7,174,296  
   

 

 

  
      15,952,363  
   

 

 

  

Total Materials

       39,767,997  
   

 

 

  
   
 
COMMUNICATION SERVICES: 3.4%

 

Interactive Media & Services: 3.4%

 

  

Info Edge India, Ltd.

     316,811       27,345,261  
   

 

 

  

Total Communication Services

       27,345,261  
   

 

 

  
   
     
TOTAL COMMON EQUITIES       842,480,375  
   

 

 

  

(Cost $551,602,384)

    

 

NON-CONVERTIBLE CORPORATE BONDS: 0.0%

 

  
     Face Amount     Value  
CONSUMER STAPLES: 0.0%    

Food Products: 0.0%

    

Britannia Industries, Ltd.
5.500%, 06/03/2024

     INR 1,996,476       27,053  
   

 

 

  

Total Consumer Staples

       27,053  
   

 

 

  
   
     
TOTAL NON-CONVERTIBLE CORPORATE BONDS       27,053  
   

 

 

  

(Cost $27,435)

    
            Value  
     
TOTAL INVESTMENTS: 103.1%       $842,507,428  
   

 

 

  

(Cost $551,629,819)

    
   
LIABILITIES IN EXCESS OF CASH
AND OTHER ASSETS: (3.1%)		       (24,936,649 ) 
   

 

 

  

NET ASSETS: 100.0%

       $817,570,779  
   

 

 

  
   

 

a

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

 

b

Non-income producing security.

 

c

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 $96,743,638, which is 11.83% of net assets.

 

d

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

 

INR

Indian Rupee

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