Message to Matthews China Fund Shareholders

We are pleased to announce that Sherwood Zhang, CFA, has been named a Co-Manager of the Matthews China Fund. Sherwood joins a portfolio management team comprised of Andrew Mattock, CFA, Lead Manager, and Winnie Chwang, Co-Manager.

Sherwood is Lead Manager of the Matthews China Dividend Fund and is also a key member of the China knowledge platform. The addition of Sherwood as Co-Manager on the Fund formalizes the engagement and collaboration that currently exists among the Matthews China and Matthews China Dividend portfolio management teams, who hold regular formal and informal discussions of companies in China, sharing research insights and ideas. It also brings together the collective knowledge that resides across our firm’s China equity strategies, including the deep bench of expertise across market capitalization, A-shares and All-shares, and growth and dividend equity investments in China.

As Co-Manager, Sherwood will continue to focus his research responsibilities on China’s equity markets. He will also contribute to discussions on portfolio construction including buys/sell decisions and position sizing. All other aspects of the Fund remain unchanged, including the investment process.

We are very proud of the depth and diversity of the investment team that we have built at Matthews Asia over the last 30-plus years and believe Sherwood will make an important contribution as a Co-Manager of the Matthews China Fund.

If you have any questions regarding the Matthews Asia Funds, please visit our website at matthewsasia.com or contact our team at clientservices@matthewsasia.com or 888-289-7988. Thank you for your investment in Matthews Asia.

Yours truly,

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