Ping An purchased

This morning I added Ping An (HK:2318) to the portfolio.

Ping An is one of China's larger insurance companies. The company offers exposure to the growing insurance industry in the PRC and could be viewed as an investment in China's growing middle class consumer. While the historical fundamentals are not very exciting (trailing PE of 18.9 and Yield of 0.9 percent), I expect those numbers to improve as the company continues to grow.

I paid HK$59.30 per share.