SNP, long position. The IJ Fund aims to build a low-beta portfolio, composed of undervalued stocks. China Petroleum and Chemical Corporation has had only a moderate decline in stock price during 2020. Its revenue and performance is largely dependent on the state of the Chinese economy. Whereas the Chinese economy saw a 5% growth between July-September, the share price of China Petroleum and Chemical Corporation has remained in its mid-year levels. The fund has reason to believe that the Chinese economy will experience further growth, despite the Covid-19 crisis, which would subsequently buoy the revenue of China Petroleum and Chemical Corporation. Additionally, the stock offers geographical diversification benefits. SNP has a beta of 1.17, which is higher than the fund target beta. The market capitalization is $67Bn. The company industry classifies as Energy.