个人养老金基金有望再扩容，如何选择养老“搭子”？

Core Viewpoint - The personal pension product catalog is expected to expand, providing new long-term allocation opportunities for index funds [1][3]. Group 1: Personal Pension System Development - Since the pilot program launched in November 2022, the personal pension system has been steadily advancing, with the number of accounts opened continuously increasing [2][4]. - As of the end of November 2024, over 72 million personal pension accounts have been opened across 36 pilot cities [4]. - The investment approach for pension funds is transitioning from savings and insurance to a more diversified and market-oriented strategy [4]. Group 2: Index Funds and Investment Strategies - The recent notification from local securities regulatory authorities allows public fund managers to apply for index funds to be included in the personal pension product catalog on a quarterly basis [3]. - The criteria for inclusion require funds to track widely recognized core broad-based indices or suitable long-term value investment indices, with specific hard indicators such as a minimum fund size of 1 billion yuan [3]. - The "dividend + low volatility" strategy is highlighted as a representative asset for personal pension accounts, with the HuaTai BaRui Dividend Low Volatility ETF leading in holder numbers [2][5]. Group 3: Performance of Dividend Low Volatility ETF - The HuaTai BaRui Dividend Low Volatility ETF (512890) has shown strong performance since its inception, with a scale exceeding 15 billion yuan as of April 2025 [7]. - This ETF has consistently achieved positive returns over six complete years, demonstrating adaptability to various market conditions [7]. - The ETF's strategy aligns well with the current market demand for sustainable and stable returns, especially in a volatile global environment [6][10]. Group 4: Market Trends and Future Outlook - The dividend low volatility strategy is gaining traction as investors shift focus from high growth to high certainty assets in a low-interest-rate environment [10][11]. - The index tracked by the ETF has a current dividend yield of 6.19%, indicating a favorable allocation window [8]. - The ETF has attracted significant capital inflows recently, reflecting its appeal amid market fluctuations [7][9].