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From: Matthews Asia <info@matthewsasia.com>
Sender: Matthews Asia <matthews@reply.ms00.net>
Date: Tue, 22 Jul 2014 09:15:34 -0700
To: <mainandwall@hotmail.com>
Subject: July Asia Insight: Anatomy of an Economic Moat
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| Anatomy of an Economic Moat At Matthews, we often talk about investing in “quality” companies with “economic moats.” We believe that these are the entities best placed to succeed over the long term in Asia. As Warren Buffett has noted, investors should seek businesses with “economic castles protected by unbreachable moats.” It is these moats that enable a company to survive and thrive as decades pass, creating economic value along the way by generating returns on capital ahead of their cost of capital. But what exactly is an economic moat? How are these derived, and how does one assess them in Asia? This month Kenneth Lowe, CFA, explores. Read more | | | You should consider the investment objectives, risks, charges and expenses of the Matthews Asia Funds carefully before making an investment decision. This and other information about the Funds is contained in the prospectus or summary prospectus, which may also be obtained by calling 800.789.ASIA (2742). Please read the prospectus carefully before you invest or send money as it explains the risks associated with investing in international and emerging markets. These include risks related to social and political instability, market illiquidity and currency volatility. Investing in foreign securities may involve certain additional risks, exchange rate fluctuations, less liquidity, greater volatility and less regulation. Fixed income investments are subject to additional risks, including, but not limited to, interest rate, credit and inflation risks. Single-country and sector funds may be subject to a higher degree of market risk than diversified funds because of concentration in a specific sector or geographic region. Investing in small- and mid-size companies is more risky than investing in large companies as they may be more volatile and less liquid than large companies. The subject matter contained herein has been derived from several sources believed to be reliable and accurate at the time of compilation. Matthews does not accept any liability for losses either direct or consequential caused by the use of this information. Matthews Asia Funds are distributed in the United States by Foreside Funds Distributors LLC
Matthews Asia Funds are distributed in Latin America by HMC Partners © 2014 Matthews International Capital Management, LLC Matthews International Capital Management, LLC
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