Technology-related companies, such as Tencent Holdings and Kingdee International Software Group, contributed positively to the Fund’s overall performance during the quarter. Tencent (HKSE:00700) continued to deliver strong earnings through continued progress in monetizing its popular mobile messenger platform called WeChat. Kingdee’s (HKSE:00268) outperformance was largely due to its foray into the fast-growing cloud computing business as well as a more positive outlook on the improvement of its core business following a two-year restructuring period.
From Matthews China Fund (Trades, Portfolio) Q1 2015 Commentary.
