证监会主席吴清连日会见外资机构负责人、法巴证券正式展业、公募基金加速ETF海外布局…… 近期，资本市场对外开放动作不少，持续助推中国资产在全球市场频频亮相。当"重估中国资产"成为当前全球资本的主流叙事时，我国资本市场的开放大门也正越 开越大。 这与监管部门的推动密不可分。2024年3月，证监会发布《关于加强证券公司和公募基金监管加快推进建设一流投资银行和投资机构的意见（试行）》强调，坚 持"引进来"和"走出去"并重，稳步扩大制度型开放，支持符合条件的外资机构在境内设立机构。有序推进"基金互认""ETF互挂""跨境理财通"等跨境互联互通业务试 点，研究探索推进跨境经纪业务试点。 中国资产吸引力增强 资本市场对外开放步伐越走越自信，和中国资产向上重估不无关系。年内A股和港股市场整体呈现稳中向好态势，科技成长板块表现尤为突出，TMT板块的成交持 续占A股成交的40%～50%。 德意志银行近期报告表示，中国在高附加值领域不断实现突破，并以前所未有的速度构筑全产业链竞争优势。中国企业的全球化进程有望使估值折价逐渐消失，并 在未来扭转为溢价，2025年将成为全球投资界重新认识中国国际竞争力的关键一年。 稳步扩大制度型开放 ...

Core Insights - The Broadridge Fund Brand 50 (FB50) report highlights the importance of brand strength in asset management, with fund selectors prioritizing 'Solidity' and 'Client-oriented thinking' when choosing asset managers [1][5][13] - BlackRock has overtaken Vanguard as the top asset management brand, marking a significant shift in fund selector preferences [2][6] - The study ranks asset managers based on ten brand attributes, revealing insights into the competitive landscape of the asset management industry [2][10] Brand Rankings - The top three U.S. asset management brands for 2025 are BlackRock, Vanguard, and Capital Group, with BlackRock moving up one position and Vanguard dropping one [3] - First Trust made notable progress, rising from 10th to 6th place, attributed to its innovative product offerings [6] Valued Attributes - The top three attributes valued by U.S. fund selectors are 'Solidity', 'Client-oriented thinking', and 'Appealing investment strategy', indicating a preference for stability and customer-centric approaches [5][13] - 'Experts in what they do' and 'Knowledge of the market where they operate' have gained importance, reflecting the need for specialized expertise in a complex investment landscape [13] Market Trends - Fund selectors are increasingly favoring large, established brands with diverse product offerings, as well as firms that can adapt to new market demands [7][13] - There is a growing consumer demand for new product types, including actively managed ETFs and model portfolios, influencing the rankings of asset managers [13] Additional Findings - Charles Schwab excelled in 'Client-oriented thinking', ranking 7th in this attribute despite an overall 17th place in the FB50 rankings [13] - The study indicates a continued willingness among fund selectors to explore new engagements, driven by steady performance and lower volatility [13]

以下文章来源于远川投资评论 ，作者张婕妤 远川投资评论 . 看更好的资管内容 2025 年的一季度，贝莱德上了两次热搜。 第一次是 2 月底，这家全球最大的资产管理公司，断供了上海两栋写字楼 7.8 亿人民币的贷款。要知 道贝莱德 2024 年末的资产管理规模达到 11.6 万亿美元，体量之大可以位列全球第三大经济体。仅计 算它所持有中国科技巨头——腾讯、比亚迪、美团、阿里、小米的股票，价值就接近 3000 亿人民币。 与此同时，贝莱德整个 2024 年的净利润接近 64 亿美元，显然不是因为没钱才当的"老赖"。 毕竟，反手贝莱德又以买家的身份出现在了巴拿马运河的世纪交易案中，228 亿美元的开价，差不多是 贝莱德过去四年的利润总和。 如果你在生活中遇到一个税后可以存下 200 万的小红书金领，刚刚拿出四年的积蓄溢价买入一套市中 心黄金地段的老房子，却告诉别人自己供不起一只入门级 LV 的消费贷，你一定觉得匪夷所思。 但当一个富可敌国的超级资本集团，做出这种看似矛盾的取舍时，它一定是把自己的算盘抠到了旁人无 法企及的高度。 在金融世界的食物链中，中小机构可以只活在金融周期里，大型机构会被迫活在经济周期里，而超 ...

2025 年的一季度，贝莱德上了两次热搜。 第一次是 2 月底，这家全球最大的资产管理公司，断供了上海两栋写字楼 7.8 亿人民币的贷款。要知 道贝莱德 2024 年末的资产管理规模达到 11.6 万亿美元，体量之大可以位列全球第三大经济体。仅计 算它所持有中国科技巨头——腾讯、比亚迪、美团、阿里、小米的股票，价值就接近 3000 亿人民币。 与此同时，贝莱德整个 2024 年的净利润接近 64 亿美元，显然不是因为没钱才当的"老赖"。 毕竟，反手贝莱德又以买家的身份出现在了巴拿马运河的世纪交易案中，228 亿美元的开价，差不多是 贝莱德过去四年的利润总和。 如果你在生活中遇到一个税后可以存下 200 万的小红书金领，刚刚拿出四年的积蓄溢价买入一套市中 心黄金地段的老房子，却告诉别人自己供不起一只入门级 LV 的消费贷，你一定觉得匪夷所思。 但当一个富可敌国的超级资本集团，做出这种看似矛盾的取舍时，它一定是把自己的算盘抠到了旁人无 法企及的高度。 在金融世界的食物链中，中小机构可以只活在金融周期里，大型机构会被迫活在经济周期里，而超级财 团则必须活在政治周期里。 混乱即阶梯 众所周知，贝莱德崛起的关键转折是 ...

Company Performance - BlackRock (BLK) closed at $963.50, reflecting a +1.24% change from the previous session, underperforming the S&P 500's gain of 1.77% for the day [1] - Over the past month, BlackRock's stock has decreased by 2.31%, compared to the Finance sector's loss of 1.46% and the S&P 500's loss of 5.73% [1] Earnings Forecast - The upcoming earnings report for BlackRock is anticipated to show an EPS of $10.84, representing a 10.5% growth year-over-year [2] - Revenue is expected to reach $5.49 billion, indicating a 16.04% increase compared to the same quarter last year [2] - For the full year, earnings are projected at $47.41 per share and revenue at $23.66 billion, reflecting changes of +8.71% and +15.95% respectively from the previous year [3] Analyst Revisions and Stock Ratings - Recent revisions to analyst forecasts for BlackRock are important as they reflect changes in short-term business dynamics, with positive revisions indicating optimism about the company's outlook [4] - The Zacks Rank system, which assesses estimate changes, currently ranks BlackRock at 3 (Hold), with a recent EPS estimate decrease of 0.06% [6] Valuation Metrics - BlackRock's Forward P/E ratio stands at 20.08, which is a premium compared to its industry's Forward P/E of 9.83 [7] - The company has a PEG ratio of 1.83, while the Financial - Investment Management industry has an average PEG ratio of 1.02 [7] Industry Context - The Financial - Investment Management industry, part of the Finance sector, has a Zacks Industry Rank of 146, placing it in the bottom 42% of over 250 industries [8]

Group 1 - The focus is on growth and dividend income as a strategy for retirement planning [1] - The portfolio is structured to generate monthly dividend income that grows through reinvestment and annual increases [1] - The author holds long positions in specific stocks including BST, HYT, ENB, O, and MO [1]

以下文章来源于晨星投资说 根据晨星最新发布的《全球公募基金及中国主题基金资金流观察》报告，截至2024年底，全球 前25大ETF提供商中超过一半来自美国： | 14 | VanEck 范达 | 1,104 | | --- | --- | --- | | 15 | WisdomTree | 1,095 | | 16 | Fidelity 富达 | 1,068 | | 17 | Daiwa 大和 | 1,048 | | 18 | BM0 蒙特利尔银行 | 922 | | 19 | 夜直電影 | 002 | | 20 | Global X | 806 | | 21 | 易同达县金 | 804 | | 22 | ProFunds/ProShares | 776 | | 23 | 华泰柏瑞基金 | 643 | | 24 | American Century | 569 | | 25 | MUFG 三菱日联 | 493 | 全球25强中，美国公司占14席，前5大ETF提供商均来自美国。 贝莱德（iShares/BlackRock）、先锋（Vanguard）、道富（State Street）包揽前三，三家公 司市占率合计6 ...

Group 1 - American stocks have recently underperformed, with the S&P 500 down approximately 8% from its 52-week high [1] - The iShares MSCI ACWI ex U.S. ETF is mentioned, indicating a broader market sentiment beyond U.S. equities [1] Group 2 - The article emphasizes the importance of in-depth research on various investment vehicles, including REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs [1] - A free 2-week trial is offered to attract potential investors to the research services [1] - The article includes testimonials, with a majority rated 5 stars, suggesting a positive reception of the research services [1]

Core Insights - Institutional investors significantly increased their positions in the iShares Bitcoin Trust ETF, with 1,149 filings reported, up from 673 in the previous quarter, indicating a growing interest in Bitcoin investments [2][10] - BlackRock's CEO, Larry Fink, predicts a potential long-term price increase for Bitcoin, suggesting it could reach $700,000, representing a 723% increase from current levels [3][12] - The U.S. presidential election and anticipated regulatory clarity under President Trump are key factors driving institutional interest in Bitcoin [5][9] Institutional Investment Trends - The number of institutional investors holding the iShares Bitcoin ETF more than doubled, with total holdings reaching $16.4 billion and an additional $5.1 billion in options value [10] - The global market assets under management were reported at $175 trillion, indicating that cryptocurrency investments still represent a small fraction of total institutional capital [11] Regulatory Environment - President Trump's appointment of Paul Atkins as SEC chairman is expected to foster a more favorable regulatory environment for cryptocurrencies compared to the previous administration [6] - Proposed regulations and protections for cryptocurrency trading could enhance the usability of Bitcoin and provide investor safeguards [7] Market Expectations - Anticipated regulatory changes are driving hedge funds and asset managers to invest in the iShares ETF ahead of these developments, reflecting a market based on expectations [9] - Fink's discussions with sovereign-wealth funds suggest that even a small allocation of institutional portfolios to Bitcoin could significantly elevate its price, with estimates ranging from $500,000 to $3.8 million [12][13][14]

来源：每日经济新闻 01 交易非"普通商业行为" 这绝非危言耸听，根据美国政府一项行政命令草案，其已计划向中国有关船只收取特别停靠费用，并将敦促盟友也采取类似措施，否则将遭到报复。如果 美国的种种算计得逞，必然会对中国的造船、航运、外贸乃至共建"一带一路"造成冲击，也势将直接影响香港巩固提升国际航运、贸易中心地位，并威 胁、破坏全球正常的航运、贸易秩序和安全。 最近有一个动向引起各方强烈反响：香港长江和记实业有限公司日前公告称与美国贝莱德牵头的财团达成原则性协议，拟向该财团出售旗下和记港口集团 80%的资产，转让其持有和运营的分布于23个国家的43个港口及配套物流网络，包括巴拿马运河两端的巴尔博亚和克里斯托瓦尔港口。 有人说，这个交易是普通的商业行为。果真如此吗？ 大家都能看到的是，特朗普今年1月刚就职便指中国在控制巴拿马运河，高调宣称美国要"收回"来，必要时不惜动用军队。紧接着，美国务卿鲁比奥首次外 访即直奔巴拿马进行施压。之后，赶在特朗普第一次作国会演讲前夕，上述消息被释放出来。这一切难道只是时间上的巧合？这到底是什么性质的交易？ 事实上，一些美英媒体已披露其中不少内幕。有媒体报道指，贝莱德CEO芬克与特 ...