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The Matthews China Fund (Trades, Portfolio) disclosed this week that its top five buys for fourth-quarter 2019 were China Merchants Bank Co. Ltd. (SHSE:600036), NAURA Technology Group Co. Ltd. (SZSE:002371), Meituan Dianping (HKSE:03690), Fuyao Glass Industry Group Co. Ltd. (HKSE:03606) and New Oriental Education & Technology Group Inc. (EDU).
Overseen by Andrew Mattock and Winnie Chwang, the fund seeks long-term capital appreciation through equity investments primarily in China and Hong Kong. Matthews China’s fourth-quarter letter said that the fund returned 16.56% during the three months ending December 2019 and 34.56% for the year, compared with the MSCI
The Matthews China Fund (Trades, Portfolio) seeks long-term capital appreciation by investing at least 80% of total assets in China, including other districts such as Hong Kong. The fund is led by new portfolio manager Andrew Mattock, who joined the firm in 2015.
For the full year 2015, Matthews China returned 2.41%, outperforming the benchmark MSCI China Index, which declined 7.62%. During the fourth quarter, the fund returned 10.33%, also outperforming the benchmark’s 4.03% return.
China’s struggling economy and market conditions recently have been no stranger to the scrutiny of investors and the global market. In its