Capitalist Roader Fund:
The Shanghai Composite Index (SCI) was flat for the week, with no obvious signs of recovery from last week’s market turmoil. Huaneng Power (600011.SH) grew 0.3% on news that it would partner with CNOOC (CEO.NYSE, 0883.HK) to develop natural gas as a national energy source. Guangshen Railway (601333.SH) fell 0.5%. China COSCO (601919.SH) fell 1.1%, impacted by broader global uncertainty.
In light of this uncertainty, the Roader continues to keep its cash on the sidelines.
The Capitalist Roader Fund is down 38.7% from June 3, 2008. The SCI is down 21.5% from June 3, 2008.