红利基金挑选指南：天弘中证港股通高股息的独特魅力

Core Viewpoint - Dividend funds are becoming an important avenue for investors seeking stable returns as deposit rates decline, with Tianhong CSI Hong Kong Stock Connect High Dividend Investment Index A (022072) offering unique investment value [1] Group 1: Unique Investment Targets and Valuation Advantages - The core of dividend funds lies in dividend returns, which are closely related to dividend levels and stock price valuations. Hong Kong dividend assets are characterized by being in a long-term valuation trough, providing outstanding cost-performance [2] - As of July 31, 2025, the CSI Hong Kong Stock Connect High Dividend Investment Index had a 12-month dividend yield of 5.8%, with a higher yield of 7.75% at the end of June [2] Group 2: Selected Component Stocks Build High Dividend Foundation - The CSI Hong Kong Stock Connect High Dividend Investment Index selects only 30 component stocks from Hong Kong Stock Connect, adhering to strict standards such as continuous dividends and high liquidity, making it a "select elite" in the high dividend sector [3] - The top ten weighted stocks in Tianhong CSI Hong Kong Stock Connect High Dividend Investment Index A are long-term leading dividend blue-chip companies, showcasing a focus on dividend capability [3] Group 3: Unique Performance of Returns and Risks - The returns of Tianhong CSI Hong Kong Stock Connect High Dividend Investment Index A are driven by both dividend income and capital appreciation, with a 12-month dividend yield of 5.8% providing reliable cash flow [4] - In the first half of 2025, the fund achieved a return of 10.96%, outperforming its benchmark by 2.14% [4] - As of August 22, the fund's return over the past six months reached 19.38% [4] Group 4: Operational Mechanism Brings Dual Benefits - The CSI Hong Kong Stock Connect High Dividend Investment Index adjusts its components semi-annually, following a principle that reduces the weight of stocks with declining dividend yields and increases the weight of those with rising yields, effectively lowering valuation bubble risks [5] - The management fee for Tianhong CSI Hong Kong Stock Connect High Dividend Investment Index A is 0.15% per year, with a total cost rate of 0.20%, significantly lower than actively managed dividend funds [5] Group 5: Target Audience and Strategic Use - Tianhong CSI Hong Kong Stock Connect High Dividend Investment Index A is suitable for investors seeking high dividends and low valuation recovery opportunities, as well as those looking to diversify risks associated with A-share investments [6]