红利板块成近期“避风港”，恒生红利低波ETF（159545）规模首次突破50亿元

Core Viewpoint - The A-share market shows a trend of low opening and high closing, while the Hong Kong stock market experiences slight adjustments, indicating a potential shift in market funds from defensive to offensive strategies [1] Group 1: Market Performance - The Hang Seng Dividend Low Volatility ETF (159545) has ended its eight-day winning streak, slightly declining by 0.76% as of 11:01 AM, suggesting a potential opportunity for positioning [1] - As of November 12, the product scale of the Hang Seng Dividend Low Volatility ETF has surpassed 5 billion yuan, reaching 5.233 billion yuan [1] Group 2: Investment Trends - Approaching year-end, the dividend style is expected to outperform overall due to the mean reversion in the divergence of growth and value returns, benefiting dividend-oriented styles [1] - Institutional investors typically seek stable returns towards the end of the year, which may lead to a shift towards more conservative dividend styles [1] - By 2026, many insurance funds are expected to face a demand for reduced volatility due to new accounting standards, potentially driving funds towards high-dividend Hong Kong stocks [1] Group 3: Company Information - E Fund is currently the only fund company that implements low fee rates for all dividend ETFs, with management fees for products like the Hang Seng Dividend Low Volatility ETF (159545) set at 0.15% per year, facilitating low-cost investment in high-dividend assets [2]