Xin Lang Cai Jing·2025-05-30 03:08Core Viewpoint - The Hong Kong Dividend ETF Fund (513820) has distributed its 11th cash dividend, reflecting a stable income stream for investors in a low-interest-rate environment [1][11]. Group 1: Fund Performance and Dividend Distribution - The Hong Kong Dividend ETF Fund (513820) experienced a slight decline of 0.09% after reaching a peak, with the current dividend distribution marking a significant milestone for investors [1]. - The fund has consistently provided monthly dividends since July 2024, with a total distribution of 0.29 yuan per 10 shares, indicating a reliable income source [11]. Group 2: Market Trends and Investment Strategies - The underlying index of the Hong Kong Dividend ETF, which focuses on high-dividend stocks, has seen most of its constituent stocks experience a pullback, although some, like Pacific Shipping, have shown gains [3]. - Insurance capital is increasingly entering the market, with a focus on high-dividend stocks, as indicated by the approval of new long-term investment pilot programs for smaller insurance companies [3][5]. - The investment strategy of insurance companies emphasizes high-dividend stocks, which are expected to provide better returns in a declining interest rate environment [8]. Group 3: Sector Preferences and Stock Performance - Insurance funds are heavily invested in sectors such as transportation, telecommunications, and banking, while reducing exposure to food and beverage, utilities, and energy sectors [9]. - The average dividend yield of stocks targeted by insurance companies has increased to 4.6%, the highest in recent years, reflecting a shift in focus towards high-dividend investments [9]. Group 4: Comparative Analysis and Valuation - The Hong Kong Dividend ETF boasts a leading dividend yield of 7.87%, outperforming other major dividend indices, which enhances its attractiveness to investors [10]. - The valuation of Hong Kong stocks is comparatively lower than that of A-shares, providing a greater margin of safety for investors [10].