To get some exposure to the index and hopefully ride the rebound, we bought 200 shares of China’s biggest bank, (market cap RMB1 trillion right now) ICBC at RMB5.10 a share.
As for our other holding, Anhui Conch, it rode all the way down with the market last week, but has stopped plummeting for now.
We now hold about a third of our capital in cash (any suggestions?) and we’ve lost about 7% of our portfolio value. The index fell 13.9% between June 5, when we opened the fund, and yesterday’s close.