红利板块再度走强，建信基金推出红利配置“新品”

Core Viewpoint - The dividend sector in the A-share market has shown relatively superior performance recently, with a general upward trend despite some fluctuations since 2025, indicating good allocation value for dividend assets [1][2]. Market Trends - As the year-end approaches, dividend assets may experience an investment trend driven by the "calendar effect," with significant seasonal excess returns typically observed in December, January, and April [3]. - The dividend sector has been positively impacted by ongoing favorable policies encouraging companies to establish stable and predictable cash dividend policies, attracting long-term institutional investments [4]. External Influences - The A-share market has been buoyed by a technology-driven rally since September of last year, but short-term volatility and overseas uncertainties may catalyze a phase of dividend market performance [5]. Investment Strategies - Investors are advised to diversify across markets to better capture overall dividend trends, with A-shares focusing on banks, coal, and oil sectors, while Hong Kong stocks offer opportunities in real estate, textiles, and construction [6]. - A focus on individual stocks is recommended to avoid "dividend yield traps," where high yields may not be sustainable due to underlying company issues [6]. Dividend Indices - The dividend yield and valuation metrics for key indices are as follows: - CSI Dividend Index: 4.24% yield, 8.76x PE - CSI Hong Kong Stock Connect High Dividend Investment Index: 5.62% yield, 7.90x PE - Shanghai Composite Index: 2.26% yield, 16.46x PE - Hang Seng Index: 3.03% yield, 11.75x PE [7]. Fund Opportunities - The recently launched Jianxin Dividend Select Mixed Fund focuses on long-term dividend opportunities and offers a dual market investment strategy, employing a multi-factor quantitative approach to select high-quality dividend stocks [8][9].