智通财经网·2026-01-23 03:54Core Viewpoint - The global financial market is undergoing a significant paradigm shift, with a movement from single-market asset allocation to diversified global assets, particularly in the Asia-Pacific region, which is characterized by "high growth, low correlation, and low valuation" attributes [1][2]. Group 1: Market Dynamics - The core contradiction in global asset performance in the first half of 2025 revolves around the uncertainty of tariff policies, leading to a risk-off mode in the market [2]. - The U.S. dollar assets faced a collective downturn in April 2025, with the dollar index dropping below 100 and the 10-year U.S. Treasury yield surging, indicating a shift from a "dollar-centric" view to a new paradigm where non-U.S. currencies are gaining importance [2][3]. - Historical trends show that global liquidity typically follows a 4-5 year cycle with the U.S. dollar, and a declining dollar phase tends to favor non-U.S. assets, particularly those in the Asia-Pacific region with strong fundamentals [2]. Group 2: Investment Opportunities in Asia-Pacific - For domestic investors, the low correlation of the CSI 300 index with major global indices allows for effective risk mitigation through investments in Asia-Pacific assets, which are expected to contribute higher economic growth compared to global markets [3]. - The Asia-Pacific market currently offers significantly lower PE valuation levels compared to the high valuations in the U.S. market, presenting a compelling investment opportunity [3]. Group 3: Sectoral Advantages - The dual drivers of "technology growth" and "dividend defense" are central to the investment appeal of Asia-Pacific assets, particularly in the semiconductor industry, which has unmatched global competitiveness [4]. - Major semiconductor companies in the region, such as TSMC and Samsung Electronics, are positioned to benefit from the AI technology boom and the recovery of the semiconductor cycle [4]. - Japan's corporate governance reforms and ultra-loose monetary policy have improved shareholder returns and operational efficiency, making Japanese equities an attractive option for long-term investors [4][5]. Group 4: Asset Allocation Strategy - The Southern Fund's Asia-Pacific Select ETF is designed to capture investment opportunities in the Asia-Pacific market, tracking the FTSE Asia-Pacific Low Carbon Select Index, which includes leading companies while incorporating ESG low-carbon screening [7]. - The ETF's holdings balance quality and diversity, featuring top firms across various sectors, including technology and automotive, while minimizing risks associated with single-country or single-industry volatility [7]. - The fund's low management and custody fees provide a cost-effective pathway for investors to participate in the growth potential of the Asia-Pacific region [7]. Group 5: Performance Resilience - The Asia-Pacific Select ETF has demonstrated resilience in various market conditions, outperforming similar assets during periods of high U.S. Treasury yields and global trade fluctuations [8]. - The rise of Asia-Pacific assets is seen as a natural outcome of evolving global economic dynamics, industry cycles, and improved corporate governance, marking the region's emergence into a "golden era" [8].