Market Performance - The A-share market continued its strong upward trend, with the Shanghai Composite Index approaching the 3500-point mark, closing at 3472.32 points, reflecting a weekly increase of 1.4% [1] - Over 70% of ETF products achieved positive returns this week, with the Hong Kong innovative drug-related ETFs leading the gains [1][2] ETF Highlights - After a two-week adjustment, Hong Kong innovative drug-related ETFs surged again, with several products, including the Hong Kong Innovative Drug ETF Fund and the Hong Kong Innovative Drug 50 ETF, seeing weekly increases exceeding 7% [5][6] - The median weekly increase for over 1200 ETF products was 1.08%, with only about 200 products experiencing declines [2] - Notably, the steel ETF (515210) saw a significant rise of 5.41%, attributed to Huazhong Steel being targeted by insurance capital [6] Sector Performance - Game-related ETFs also performed well, with several products recording weekly gains of over 6%, driven by substantial increases in constituent stocks such as Kaineng Network and 37 Interactive Entertainment [6] - Conversely, the Hang Seng Technology Index faced a decline of 2.42%, impacting related products, particularly in the internet sector, which saw declines exceeding 3% for several ETFs [8][9] Notable ETF Data - The top-performing Hong Kong innovative drug ETFs included: - Hong Kong Innovative Drug ETF Fund: 7.553% weekly increase - Hong Kong Innovative Drug 50 ETF: 7.483% weekly increase - Hong Kong Innovative Drug ETF ICBC: 7.477% weekly increase [4][5] - The newly established Huabao Hang Seng Hong Kong Innovative Drug Selected ETF (520880) reported that Barclays Bank holds 20 million shares, accounting for 4.5997% of the total fund [6]

宏源证券 屈由厂宏源ETF实惠尺层 元 以赛促学,玩转ETF投资 报名开始 比赛开始 报名结束 比赛结束 6月18日 8月29日 9月5日 6月12日 赛事背景 2024年资本市场迎来政策红利,ETF凭借分散风险、 易便捷等优势,成为投资者重要选择。 亮点3 值此机遇, 申万宏源证券携手多家基金公司正式启动第 三届ETF实盘大赛,打造专业实战平台,助力投资者提升 配置能力。新手可学习成长,老手能切磋技艺,共同把握 市场机遇,力争共享投资红利。 主办方 t 春密 助 的 门星动 5大赛事亮点 亮点1 老牌券商底蕴,专业ETF服务 申万宏源证券作为国内历史悠久的综合性券商,凭借深厚的市 场积淀和专业的投研能力,为投资者提供全市场ETF交易支 持。本次大赛支持沪深市场所有场内ETF品种(货币ETF除 外），助力投资者把握不同市场机会。 直占7 站式ETF投教专区 为了帮助ETF投资者迅速补充知识"电量",本次大赛专设【大 咖论市】、【大赛专区投教视频】、【ETF理财课堂】等模 块,一站式帮助投资者了解投教知识。 互动有礼、边学边玩 大赛设丰富的互动活动,轻松参与即有机会获得奖励,最高可 得6.66元红包。（每项任务 ...

宏源证券 屈由厂宏源ETF实惠尺层 元 以赛促学,玩转ETF投资 报名开始 比赛开始 报名结束 比赛结束 6月18日 8月29日 9月5日 6月12日 赛事背景 2024年资本市场迎来政策红利,ETF凭借分散风险、 易便捷等优势,成为投资者重要选择。 值此机遇, 申万宏源证券携手多家基金公司正式启动第 三届ETF实盘大赛,打造专业实战平台,助力投资者提升 配置能力。新手可学习成长,老手能切磋技艺,共同把握 市场机遇,力争共享投资红利。 大赛设丰富的互动活动,轻松参与即有机会获得奖励,最高可 得6.66元红包。（每项任务限领1次且红包数量有限,具体以发放页面 显示为准) 申万宏源证券作为国内历史悠久的综合性券商,凭借深厚的市 场积淀和专业的投研能力,为投资者提供全市场ETF交易支 持。本次大赛支持沪深市场所有场内ETF品种(货币ETF除 外），助力投资者把握不同市场机会。 直占7 站式ETF投教专区 为了帮助ETF投资者迅速补充知识"电量",本次大赛专设【大 咖论市】、【大赛专区投教视频】、【ETF理财课堂】等模 块,一站式帮助投资者了解投教知识。 亮点3 互动有礼、边学边玩 主办方 t 春密 助 的 门星动 ...

宏源证券 屈由厂宏源ETF实惠尺层 元 以赛促学,玩转ETF投资 报名开始 比赛开始 报名结束 比赛结束 6月18日 8月29日 9月5日 6月12日 赛事背景 2024年资本市场迎来政策红利,ETF凭借分散风险、 易便捷等优势,成为投资者重要选择。 值此机遇, 申万宏源证券携手多家基金公司正式启动第 三届ETF实盘大赛,打造专业实战平台,助力投资者提升 配置能力。新手可学习成长,老手能切磋技艺,共同把握 市场机遇,力争共享投资红利。 主办方 t 春密 助 的 门星动 5大赛事亮点 亮点1 老牌券商底蕴,专业ETF服务 申万宏源证券作为国内历史悠久的综合性券商,凭借深厚的市 场积淀和专业的投研能力,为投资者提供全市场ETF交易支 持。本次大赛支持沪深市场所有场内ETF品种(货币ETF除 外），助力投资者把握不同市场机会。 直占7 公司专业投资顾问每周带来最新的点评资讯,解读市场热点, 让你的每笔交易都有专业智囊的支持! 站式ETF投教专区 为了帮助ETF投资者迅速补充知识"电量",本次大赛专设【大 咖论市】、【大赛专区投教视频】、【ETF理财课堂】等模 块,一站式帮助投资者了解投教知识。 亮点3 互动有礼、边 ...

Core Insights - The ETF brokerage rankings for May reveal a competitive landscape with significant shifts in market share among major players, particularly in the Shanghai Stock Exchange [1][2] Group 1: ETF Holdings - Galaxy Securities maintains the top position in ETF holdings with a market share of 24.63%, showing a slight increase of 0.06 percentage points from April [2][3] - Shenyin Wanguo Securities follows in second place with an 18.05% share, which is an increase of 0.18 percentage points, but still trails Galaxy by 6.58 percentage points [2] - The second tier of brokerages remains stable, with CITIC Securities at 6.06%, followed by China Merchants Securities at 4.78% and Guotai Junan Securities at 4.58% [2][3] Group 2: ETF Trading Volume - Huatai Securities leads the trading volume with an 11.30% share in May, maintaining its position as the top brokerage for ETF transactions [4] - CITIC Securities has shown remarkable performance, rising to second place with a trading volume share of 9.17%, surpassing Galaxy Securities, which fell to fifth place with a 5.71% share [4][5] - The trading volume dynamics indicate a competitive environment, with smaller brokerages like Dongfang Securities and Huabao Securities also making significant contributions [5] Group 3: Client Activity and Trading Accounts - Huatai Securities and Dongfang Wealth Securities continue to dominate in terms of trading account numbers, with shares of 11.59% and 11.18% respectively [10][11] - The overall client activity remains concentrated among the top brokerages, with Galaxy Securities and Ping An Securities also showing notable account shares of 5.55% and 5.44% [10][11] - The rankings for trading accounts highlight the importance of retail investor engagement, particularly for brokerages leveraging technology and information services [9][10]

Core Viewpoint - Significant capital inflow into Hong Kong stocks has been observed this year, with net purchases from southbound funds exceeding 650 billion yuan [1] Group 1: ETF Performance - The Hong Kong stock ETF market has seen substantial growth, particularly in technology, innovative pharmaceuticals, and dividend ETFs, which have performed well this year [1] - The Hong Kong Stock Connect Internet ETF has increased by over 23 billion yuan, doubling its size in just six months, making it the largest Hong Kong stock ETF by scale [2] - The Hong Kong Stock Connect Technology 30 ETF has grown by over 14 billion yuan, nearly tripling its size since the beginning of the year [3] - The top-performing ETFs in terms of added scale include the Hong Kong Stock Connect Internet ETF, Technology 30 ETF, and Innovative Pharmaceuticals ETF, with significant annual returns [4][15] Group 2: Factors Driving Growth - The surge in technology ETFs is attributed to the recent technology market rally, with the Hang Seng Technology Index rising by 19.94% as of June 25 [4] - The design mechanisms, scale, and fee structures of these ETFs play a crucial role in their attractiveness to investors [6][18] - The success of the Hong Kong Stock Connect Internet ETF is notable, as it was launched during a challenging period for the internet sector, yet it has become the most attractive ETF this year [7][9] Group 3: Competitive Landscape - Not all technology ETFs have experienced similar growth; performance differences often depend on product characteristics and the marketing capabilities of fund companies [5] - The competitive landscape among fund companies is intensifying, with successful products often sharing common factors such as strategic product design and low fee rates [18][19] - The Hong Kong Stock Connect Technology 30 ETF has gained traction due to its lower management fee of 0.45%, compared to the industry average of 0.5% [13][19] Group 4: Institutional Investment Trends - Institutional investors have increasingly favored the Hong Kong Stock Connect Internet ETF, with their share rising from 27.95% in 2021 to 96.66% in 2022 [10] - The trend of institutional investment in Hong Kong stocks is supported by favorable policies encouraging long-term capital inflow [11] Group 5: Sector-Specific Insights - The innovative pharmaceutical sector has shown significant strength this year, with ETFs tracking this sector experiencing substantial inflows and high annual returns [15][17] - The performance of ETFs tracking the innovative pharmaceutical index has been strong, contributing to their attractiveness to investors [17]

Core Viewpoint - The article highlights the launch of the third ETF live trading competition by Shenwan Hongyuan Securities, aimed at enhancing investors' skills and knowledge in ETF investments amidst favorable market conditions in 2024 [2][5]. Group 1: Event Background - The competition is set against the backdrop of policy benefits in the capital market for 2024, with ETFs being a significant choice for investors due to their risk diversification and other advantages [1][2]. Group 2: Competition Highlights - The competition features five key highlights, including professional ETF services from a well-established brokerage, support for all on-market ETF varieties (excluding money market ETFs), and a dedicated educational platform for investors [5][7]. - Interactive activities are included, allowing participants to earn rewards, with the potential to receive up to 6.66 yuan in red envelopes [8]. - The competition is structured with dual tracks, catering to different investment styles, and includes awards such as the "Biweekly Expert Award" and "Live Trading Winner Award" [8]. Group 3: Educational Support - A one-stop ETF education zone is established to help investors quickly enhance their knowledge, featuring modules like "Market Insights," "Competition Education Videos," and "ETF Financial Classes" [7]. - Professional investment advisors will provide weekly market insights and analysis to support participants in their trading decisions [8].

Core Insights - The article emphasizes the growing interest in ETF investments among ordinary people and provides guidance on how to navigate this investment vehicle for stable wealth growth [1] Group 1: Selection Principles for ETFs - Understanding the investment scope of a fund is crucial, as different bond funds have varying risk profiles, with 37% of mixed funds experiencing significant net value fluctuations due to heavy AI sector investments in 2025 [1] - Long-term performance (3-5 years) should be prioritized over short-term gains, as evidenced by a chip ETF that surged 50% in one month but later fell back [1] - The experience of fund managers is vital, with those managing the same fund for over 10 years outperforming their frequently changing counterparts by 23% [1] Group 2: Four-Dimensional Screening Method for ETFs - Liquidity is essential for ETFs; products with a scale over 500 million and daily trading volume exceeding 10 million are recommended for better liquidity [2] - Tracking error is a key performance indicator, with larger ETFs (over 5 billion) averaging a tracking error of only 0.03%, while smaller ones can reach 0.5% [2] - Valuation opportunities exist, with the current PE ratio of the CSI 300 at historical lows, but not all low-valuation sectors are worth investing in [2] - Fee rates significantly impact returns, with a difference in management fees of 0.15% versus 0.5% potentially leading to a 28% difference in returns over 10 years [2] Group 3: Common Misconceptions in ETF Investment - Many investors mistakenly treat ETFs as short-term trading tools, while their core advantage lies in risk diversification and long-term holding [3] - The belief that buying more ETFs leads to better risk diversification is flawed, as many ETFs may have overlapping top holdings [3] - Cost considerations extend beyond management fees to include trading commissions and internal costs from index adjustments, which can erode investment returns [3] Group 4: Evaluating ETF Value - The assessment of whether an ETF is "cheap" should be based on valuation, fundamentals, and tracking accuracy rather than just its low price [4] Group 5: Practical Investment Strategies - The core-satellite allocation strategy suggests investing 70% in broad-based ETFs for stable returns and 30% in sector-specific ETFs for growth opportunities [5] - The volatility market income strategy involves setting grid levels for buying and selling ETFs based on price fluctuations, allowing for profit accumulation during market volatility [5] - Patience and a clear mindset are essential for successful investing, echoing the sentiment that investment is akin to rolling a snowball, requiring the right conditions for growth [5]

Core Viewpoint - The article emphasizes the launch of the third ETF live trading competition by Shenwan Hongyuan Securities, aimed at enhancing investors' skills and knowledge in ETF investments amidst favorable market conditions in 2024 [2][5]. Group 1: Event Background - The competition is set against the backdrop of policy benefits in the capital market for 2024, with ETFs being highlighted for their risk diversification and convenience, making them a significant choice for investors [1][2]. Group 2: Competition Highlights - The competition features five key highlights, including professional ETF services from a well-established brokerage, support for all on-market ETF varieties (excluding money market ETFs), and a focus on helping investors seize market opportunities [5]. - A dedicated educational section is included in the competition, offering resources such as expert discussions, educational videos, and ETF financial classes to quickly enhance investors' knowledge [7]. - Interactive activities are designed to engage participants, with opportunities to earn rewards, including a maximum of 6.66 yuan in red envelopes [8]. - The competition includes dual tracks for different types of investors, allowing for a comprehensive display of skills through awards like the "Biweekly Expert Award" and "Live Trading Winner Award" [8]. - Professional investment advisors will provide weekly insights and market analysis to support participants in their trading decisions [8].

Group 1: Core Concepts - The establishment of "Central Mother Joint Family Office" aims to reconstruct the wealth ecosystem in the context of a shifting global order and the rise of Asia [4][22] - The focus is on creating a wealth network that is independent of Western-centric models, emphasizing the idea that "Asia is for Asians" [7][22] - The office seeks to address the deep-seated anxieties of the second generation of wealthy families, providing guidance and support for their growth [8][22] Group 2: Investment Philosophy - The investment philosophy has evolved through three stages, culminating in the "AI+3" strategy, which emphasizes the importance of AI and future-oriented investments [11][12] - The strategy includes a focus on gold as a safe-haven asset, particularly in the context of ongoing geopolitical tensions [10][12] - The "AI+3" strategy also highlights the importance of ETFs, gold investments, and support for specialized small and medium enterprises [12] Group 3: Macro-Economic Insights - The ongoing geopolitical conflicts and economic shifts are seen as the beginning of a new world order, fundamentally altering traditional investment logic [9][22] - The current environment is characterized by a "triple resonance" opportunity for Hong Kong, with policies aimed at enhancing its role as a financial hub [14][15] - The potential for Hong Kong to surpass Singapore as a dual-currency financial center is anticipated, driven by increased liquidity and favorable policies [15][22] Group 4: Future Outlook - The long-term vision for family offices and the investment market includes a shift towards "commercial benevolence," with a growing emphasis on social impact in investments [22] - The influence of Asian family offices is expected to increase, with a focus on political awareness, technological understanding, and the ability to pass on values [22] - The current era is viewed as both challenging and an awakening opportunity for the younger generation to redefine wealth and legacy [22]