风险提示！溢价“警报”再度拉响

Core Viewpoint - QDII funds are experiencing significant premium risks at the beginning of 2026, with over 20 funds issuing premium risk alerts due to trading prices exceeding net asset values [1][2] Group 1: Premium Risk Alerts - More than 20 QDII funds have issued premium risk alerts covering various products including Nasdaq 100, S&P 500, and others [1] - On January 6, both Huaxia Fund and Invesco Fund's Nasdaq 100 ETF issued a premium risk alert, indicating that market prices are significantly higher than the reference net asset value [1] - This marks the third premium risk alert for these two funds in 2026, with multiple alerts also issued by other funds like the Huatai-PB Nasdaq Biotechnology ETF and the China-Korea Semiconductor ETF [1] Group 2: Market Conditions and Analysis - As of January 6, over half of the 200 cross-border ETFs in the market are in a premium state, with the highest premium rate exceeding 22% and over 20 products having a premium rate greater than 4% [2] - The surge in QDII product premiums is attributed to rising overseas markets and limited purchase quotas, leading investors to buy in the secondary market, thus driving up premiums [2] - High premiums pose significant risks, especially when liquidity is low, as large investments may face difficulties in selling, leading to potential losses [2] Group 3: Growth of QDII Funds - QDII funds have rapidly developed as a tool for investors to expand overseas asset allocation, with the total scale of QDII funds exceeding 810 billion yuan, doubling in size compared to the end of 2023 [2]