Message to Matthews China Small Companies Fund Shareholders

We are writing to inform you that, effective August 31, 2020, Winnie Chwang and Andrew Mattock, CFA, will become Co Lead Managers for the Matthews China Small Companies Fund. This change follow the decisions by Lead Manager Tiffany Hsiao and Co-Manager YuanYuan Ji to depart the firm in order to pursue other opportunities.   

Winnie and Andrew have over 40 years of combined industry experience and have significant portfolio management experience investing in Chinese companies across the market capitalization. They have also worked together for over five years managing our core China strategy, the Matthews China Fund, conducting company research, generating investment ideas, discussing portfolio holdings, determining position sizing and overseeing portfolio risk management. Given the significant overlap in the investment universe for the Matthews China and the Matthews China Small Companies Funds, we believe that enhanced synergies across our China focused research activities, and portfolio management resources will serve our investors well.  

We are confident that in having Winnie and Andrew serve in the Lead Manager positions of the Matthews China Small Companies Fund, supported by our 40+ member investment team, we have the expertise, strength and depth to ensure a seamless transition and continued positive experience for investors in the Fund. 

Finally, we would like to take this opportunity to thank Tiffany and YuanYuan for their contributions to Matthews Asia and wish them well in their future endeavors. 

Thank you for your continued confidence in our Asia investment strategies.


Yours truly,

William J. Hackett Chief Executive Officer Matthews Asia		Robert Horrocks, PhD Chief Investment Officer Matthews Asia