红利风向标 | 三大指数集体调整，增配红利或渐成市场共识

Core Viewpoint - The dividend sector is expected to show strong performance at the end of the year and the beginning of the next year due to three main factors: institutional fund rebalancing, seasonal demand from insurance funds, and policy catalysts [3][4][9]. Group 1: Dividend Fund Performance - The latest dividend yield for the S&P Dividend ETF is 4.92% [1] - The latest dividend yield for the Hong Kong Stock Connect Dividend ETF is 5.54% [1] - The A500 Low Volatility Dividend ETF has a latest dividend yield of 4.14% [8] - The 300 Cash Flow ETF has a latest dividend yield of 4.17% [9] Group 2: Market Trends and Indices - The S&P China A-Share Dividend Opportunity Index is tracked by the S&P Dividend ETF [1] - The S&P Hong Kong Stock Connect Low Volatility Dividend Index is tracked by the Hong Kong Stock Connect Dividend ETF [2] - The CSI 500 Low Volatility Dividend Index is tracked by the A500 Low Volatility Dividend ETF [8] - The CSI 800 Low Volatility Dividend Index is tracked by the 800 Low Volatility Dividend ETF [8] Group 3: Factors Influencing Dividend Sector - Institutional fund rebalancing leads to a shift from high-valuation growth stocks to high-dividend stocks to lock in annual returns [3][9] - Seasonal demand from insurance funds during the peak premium income period (December to January) supports high-dividend assets [4][9] - The end of the year and beginning of the next year is a period of intensive policy announcements, which could catalyze the dividend sector if policies to increase dividend payouts are implemented [4][9]