Gold Circuit Electronics Ltd Takes the Lead with a 1.38% Portfolio Share
Matthews Emerging Markets Small Companies Fund (Trades, Portfolio), known for its strategic investments in Asia's vibrant small-cap sector, has recently disclosed its N-PORT filing for the first quarter of 2024. The fund, which primarily targets small companies with robust growth potential in Asia excluding Japan, follows a meticulous bottom-up, fundamental investment philosophy. This approach focuses on long-term performance, leveraging the fund's deep regional expertise and extensive company evaluations to capitalize on underrecognized market opportunities.
New Strategic Acquisitions
During the first quarter of 2024, Matthews Emerging Markets Small Companies Fund (Trades, Portfolio) expanded its portfolio by adding eight new stocks. Noteworthy among these is Gold Circuit Electronics Ltd (TPE:2368, Financial), which now represents 1.38% of the portfolio with a substantial investment valued at NT$9.56 million. Following closely are AURAS Technology Co Ltd (ROCO:3324, Financial) and Advanced Nano Products Co Ltd (XKRX:121600, Financial), holding 1.33% and 1.28% of the portfolio respectively.
Significant Position Increases
The fund also strategically increased its holdings in 24 existing stocks. A major highlight is the addition of 3,152,403 shares in Bandhan Bank Ltd (BOM:541153, Financial), which boosted the holding by 25.37%, reflecting a 0.99% impact on the current portfolio and bringing the total investment to ₹337.54 million. Another significant increase was in Flat Glass Group Co Ltd (HKSE:06865, Financial), where the fund upped its stake by 52.44%, now holding a total of 7,090,000 shares.
Complete Exits from Select Investments
The fund decided to exit completely from five holdings in this quarter. Notable exits include HEG Ltd (BOM:509631, Financial) and Morimatsu International Holdings Co Ltd (HKSE:02155, Financial), which previously impacted the portfolio by -0.56% and -0.4% respectively.
Reductions in Key Holdings
Adjustments were made in 12 stocks, with significant reductions in Formosa Sumco Technology Corp (TPE:3532, Financial) and Yageo Corp (TPE:2327, Financial), decreasing their shares by 80.75% and 50.14% respectively. These adjustments impacted the portfolio by -0.52% and -0.51%.
Portfolio Overview and Sector Allocation
As of the first quarter of 2024, the fund's portfolio comprises 77 stocks with top holdings in diverse sectors such as Technology, Financial Services, and Industrials. Leading the portfolio are Shriram Finance Ltd (NSE:SHRIRAMFIN, Financial) with 6.12%, Bandhan Bank Ltd (BOM:541153, Financial) with 4.89%, and Full Truck Alliance Co Ltd (YMM, Financial) with 3.36%.
The fund's strategic moves in the first quarter of 2024 highlight its ongoing commitment to capitalizing on growth opportunities in the emerging markets of Asia, focusing on small companies poised for significant growth. These adjustments reflect the fund's proactive approach to portfolio management in response to evolving market conditions and investment opportunities.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
