Thursday, February 21, 2008

More HK Tracker Fund purchased

Since I dislike holding cash when the return on cash is less than the rate of inflation, I spend a lot of time looking for places to put my hard earned money. Currently, one month deposit rates at HSBC are less than 1% and inflation is officially at 3.4%. The real inflation rate is obviously higher than the official rate.

Today I added to my position in the HK Tracker Fund at a price of 23.90. The HK Tracker Fund is an ETF which tracks the Hang Seng Index (and usually trades at a slight premium to to the index reflecting the cash building up in the fund pending distribution).

I also attempted to add to my position in the Lyxor commodities ETF but the market opened above my limit and the order was not filled.

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