Performance & Rankings

Fund Performance through October 31, 2008

				(Avg. Annual Total Returns as of 10/31/2008)
								Incept:
	Oct '08	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	02/19/98
China (MCHFX)	-24.05%	-38.48%	-53.41%	-59.48%	11.62%	9.10%	13.29%	8.13%
MSCI China Index*	-22.74%	-43.53%	-57.44%	-64.83%	12.65%	13.02%	3.63%	-1.39%†

^† Calculated from 2/28/98

Fund Performance through September 30, 2008

				(Avg. Annual Total Returns as of 09/30/2008)
								Incept:
	Sept '08	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	02/19/98
China (MCHFX)	-16.28%	-19.30%	-38.66%	-39.32%	18.94%	18.03%	17.98%	11.04%
MSCI China Index*	-20.39%	-25.22%	-44.91%	-46.92%	18.62%	22.42%	7.35%	1.03%†

^† Calculated from 2/28/98

 

All performance is in US$ with gross dividends reinvested.

Assumes reinvestment of all dividends and/or distributions before taxes. All performance quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate with market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the return figures quoted. Returns would have been lower if certain of the Fund ’s fees and expenses had not been waived.

* The MSCI China Index is a free float-adjusted market capitalization-weighted index of Chinese equities that includes China-affiliated corporations and H shares listed on the Hong Kong exchange, and B shares listed on the Shanghai and Shenzhen exchanges. It is not possible to invest directly in an index. Source: Index data from Morgan Stanley Capital Management; total return calculations performed by PNC Global Investment Servicing, formerly known as PFPC Inc.

Fees and Expenses

¹ Ratio has been restated to reflect current management and administrative and shareholder servicing fees expected to be incurred by the Funds and paid to the Advisor. Matthews Asia Funds do not charge 12b-1 fees.

 Morningstar® Ratings™ as of October 31, 2008

The Overall Morningstar® Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and (if applicable) ten-year ratings. Past performance is no guarantee of future results.

Morningstar® Category: Pacific/Asia ex-Japan
Fund: Matthews China Fund | Inception Date: 02/19/98

Overall	3 Year	5 Year	10 Year
out of 90 funds	out of 90 funds	out of 72 funds	out of 54 funds

For each fund with at least a three-year history, Morningstar® calculates a Morningstar® Ratingfund’s based on a Morningstar® Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)

 

 Lipper Rankings as of September 30, 2008

Lipper Analytical Services, Inc. rankings and fund performance do not reflect sales charges and are based on total return, including reinvestment of dividends and capital gains for the stated periods.

Lipper category: China Region

	1 Year	3 Years	5 Years	10 Years	Since Inception 2/19/98
Quartile Rank	1st 12 of 65	1st 1 of 40	1st 1 of 26	1st 1 of 20	1st 3 of 16

 

Past performance does not guarantee future results. Investment return and principal value of mutual funds will vary with market conditions so that shares, when redeemed, may be worth more or less than their original cost. Lipper Analytical Services, Inc. rankings and fund performance do not reflect sales charges and are based on total return, including reinvestment of dividends and capital gains for the stated periods. For more complete information about Matthews Asia Funds, including fees and expenses, please obtain a prospectus by calling 1.800.789.ASIA (2742). Please read it carefully before you invest or send money as it explains the risks associated with investing in international markets. Investing in foreign securities may involve certain additional risks, including exchange rate fluctuation, less liquidity, greater volatility, and less regulation. Single-country or sector funds may be subject to a higher degree of market risk than diversified funds because of concentration in a specific industry, sector or geographic sector.