恒生科技基金哪家强？丨智氪

Core Viewpoint - The capital market is reassessing investment opportunities in Chinese assets, particularly offshore assets represented by the Hang Seng Tech Index, which has shown significant outperformance compared to A-shares and the Nasdaq [2][3]. Group 1: Market Trends - Since February, the Hang Seng Tech Index has increased by 26%, and year-to-date, it has risen by 34%, with a 71% rebound since September of the previous year, outperforming major A-share indices and the Nasdaq [2][3]. - The shift in market sentiment has led to a notable increase in ETF investments, moving from passive defensive strategies to active sector and thematic investments [6][7]. - The average daily trading volume in the A-share market reached 1.8 trillion yuan in February, indicating a shift in investor sentiment towards a more aggressive stance [7]. Group 2: ETF Investment Dynamics - There has been a significant outflow from broad-based ETFs, totaling 76.4 billion units, while thematic and sector-specific ETFs have seen inflows of 14.4 billion and 7.9 billion units, respectively [7][8]. - The preference for technology-related ETFs has increased, with the top ten funds seeing inflows entirely from Hong Kong-related indices, indicating a growing interest in offshore technology assets [10][11]. Group 3: Characteristics of the Hang Seng Tech Index - The Hang Seng Tech Index consists of 30 major Hong Kong-listed technology companies, reflecting high-quality tech leaders and is often referred to as the "Hong Kong version of Nasdaq" [15][18]. - The index is designed to minimize risk through a balanced weight distribution, with individual stock weight limits set at 8% for non-foreign companies and 4% for foreign companies [15][16]. - The index covers a wide range of industries, including retail, information technology, semiconductors, and software, providing a comprehensive representation of the Chinese tech sector [16][18]. Group 4: Fund Selection Strategies - Investors can participate in the Hang Seng Tech Index through three main methods: purchasing domestic ETFs, buying offshore index funds, or using a Hong Kong stock connect account for direct investment in Hong Kong ETFs [21][26]. - Domestic ETFs offer good liquidity and low costs but may be subject to currency and timing risks due to differences in trading hours between A-shares and Hong Kong stocks [22][24]. - Offshore ETFs provide better tracking accuracy and real-time liquidity but require a higher capital threshold and trading experience to access [26][27].