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Portfolio Data as of April 30, 2008

Top 10 Holdings

Security Sector Country % of Net Assets
China Mobile, Ltd. Telecom Services China/Hong Kong 4.9%
NHN Corp. Information Technology South Korea 4.6%
Baidu.com, Inc. Information Technology China/Hong Kong 4.5%
Samsung Electronics Co., Ltd. Information Technology South Korea 4.5%
Nintendo Co., Ltd. Information Technology Japan 3.9%
Tencent Holdings, Ltd. Information Technology China/Hong Kong 3.6%
Sony Corp. Consumer Discretionary Japan 3.1%
Bharti Airtel, Ltd. Telecom Services India 3.0%
Ctrip.com International, Ltd. Consumer Discretionary China/Hong Kong 2.9%
New Oriental Education & Technology Group, Inc. Consumer Discretionary China/Hong Kong 2.9%
37.8%
Top 10 holdings may combine more than one security from the same issuer.

Sector Allocation (%)a

Fund MSCI/Matthews Asian Technology Index Difference
Information Technology 59.6 72.0 –12.4
Consumer Discretionary 18.6 0.0 18.6
Telecom Services 12.4 28.0 –15.6
Health Care 3.7 0.0 3.7
Industrials 2.6 0.0 2.6
Materials 2.4 0.0 2.4
Financials 0.0 0.0 0.0
Utilities 0.0 0.0 0.0
Consumer Staples 0.0 0.0 0.0
Energy 0.0 0.0 0.0
Cash, Cash Equivalents
and Other
0.7 0.0 0.7
 
Sector data based on MSCI’s revised Global Industry Classification Standards. For more details, visit www.msci.com.
Source for benchmark allocation: MSCI.

Country Allocation (%)a

Fund MSCI/Matthews Asian Technology Index^ Difference
China/Hong Kong 30.9 14.1 16.8
Japan 20.3 42.7 –22.4
South Korea 16.9 12.4 4.5
India 14.5 4.0 10.5
Taiwan 11.8 22.2 –10.5
Malaysia 1.7 0.6 1.1
Thailand 1.6 0.3 1.3
Indonesia 1.6 1.0 0.5
Philippines 0.0 0.4 –0.4
Singapore 0.0 2.3 –2.3
Cash, Cash Equivalents
and Other
0.7 0.0 0.7
Source for benchmark allocation: MSCI.
 

Market Cap Exposure (%)a,b

Fund MSCI/Matthews Asian Technology Index^ Difference
Large cap (over $5 billion) 60.9 87.0 –26.1
Mid cap ($1 - $5 billion) 25.5 11.8 13.7
Small cap (under $1 billion) 12.9 1.2 11.7
Cash, Cash Equivalents
and Other
0.7 0.0 0.7
       
Source for benchmark allocation: MSCI.

Portfolio Characteristicsc

Number of securities 48
Weighted average market cap $35.3 bil
P/E using FY1 Estimates 19.6x
P/E using FY2 Estimates 16.3x
Source: FactSet Research Systems.


^ The MSCI/Matthews Asian Technology Index is a free float-adjusted market capitalization-weighted index of Asian equities tracking a broad range of technology stocks including semiconductor equipment and products, communications equipment, computers and peripherals, electronic equipment and instruments, office electronics, software, IT consulting and services, Internet software and services, diversified telecommunications services, and wireless telecommunication services. MSCI/Matthews Asian Technology Index. Index inception date 12/31/99. It is not possible to invest directly in an index.

a Percentage values in data are rounded to the nearest tenth of one percent; the values may not sum to 100% due to marginal rounding errors.
b Equity market cap of issuer.
c The P/E figures represent the Harmonic Average P/E- which measures the price/earnings ratio of the Fund's entire portfolio, excluding negative earners- weighted by the size of the company's position within the portfolio.



The information contained in this document does not, in any way, constitute investment advice. It should not be assumed that any investment will be profitable or will equal the performance of the portfolios or any securities or any sectors mentioned herein. The information does not constitute a recommendation to buy or sell any securities mentioned. Information on this document is from sources considered reliable, but no representation or warranty is made as to its completeness or accuracy.