https://avxhome.in

‘ DIVIDEND

POLICIES PUT IN

PLACE BY THEIR

CONTROLLING

SHAREHOLDERS

OFTEN HAVE TIES

TO THE ORIGINAL

BUSINESS

FOUNDERS’

Yu Zhang, fund manager,

Matthews Asia ex Japan Dividend

original business founders or

the founding families within the

Asian context whose financial

wellbeing very much relies on

the cash flow coming from those

listed vehicles, means these

growing cash earnings are likely

to translate into rising dividend

incomes for shareholders.

We view these stocks as

dividend growers. The portfolio

is always a combination of stable

payers and potentially fast-

growing dividend growers, with

the overall make-up depending

on the market cycle.

What sectors and geographies

do you favour?

We favour companies that

can generate strong organic

cashflow. So naturally domes-

tic-focused, consumption-driven

http://www.portfolio-adviser.com May 2017 Portfolio Adviser Guide to Asia and Japan 11

010-012_PA Guide_0517.indd 11 26/04/2017 11: