Core Viewpoint - The Vanguard International High Dividend Yield Index Fund ETF (VYMI) offers geographic diversification and a higher dividend yield of 3.72% compared to the S&P 500's 1.15% [1][9]. Dividend Yield and Safety - While there are international ETFs with higher yields, yield alone is not a sufficient reason to invest in an ETF [2]. - The ETF focuses on dividend durability and diversification, making it a reliable option for buy-and-hold investors [4]. - The fund avoids yield traps by filtering out companies that may struggle to maintain their dividends, absorbing only half of the dividend payers in its selection universe [5][6]. Market Exposure and Growth Potential - The ETF's methodology does not weight components by dividend yield but by market capitalization, enhancing safety by prioritizing larger companies capable of sustaining and growing dividends [6]. - European dividends have shown consistent growth, and this trend is expected to continue, while Japan is emerging as a strong market for dividend growth, with many companies projected to double their payouts in 2025 [7][9]. Diversification Benefits - The ETF includes 1,534 stocks, with no single stock exceeding 1.65% of the total, thereby limiting single-stock risk [12]. - The fund has a reasonable annual fee of 0.17%, equating to $17 on a $10,000 investment [12]. - The shift in market dynamics at the start of 2025 highlights the importance of international diversification, rewarding those who were prepared [10][11].

shapecharge / Getty Images Key Takeaways A crisis-ready retirement plan is diversified across income types, taxes, and time horizons. Don’t forget to take into account often-overlooked risks, too, such as long-term care, inflation, and changes in tax policy. To further ensure your strategy is resilient, annual stress testing and flexible income tools can protect your plan when life doesn’t go to script. You might have a retirement plan. But is it built to survive a crisis? According to a May sur ...

回顾过去一年中美博弈情况，王文表示，中美博弈进入漫长的"持久战"和"耐力战"，同时中美博弈加速 了全球产业链和价值链的深刻重构。 中经记者 慈玉鹏 北京报道 图为中国人民大学重阳金融研究院院长、全球领导力学院院长王文 12月9日，由中国经营报社主办的"2025中国企业竞争力年会"在京拉开帷幕。中国人民大学重阳金融研 究院院长、全球领导力学院院长王文在会上发布"'十五五'前瞻：大国博弈、全球产业链变迁与发展机 遇"的主题演讲。 王文指出，目前大国博弈正在深刻重塑全球格局。对于企业而言，短期策略应聚焦风险防御与灵活应 对，中长期战略则着眼于自主创新与全球融合。对于个人而言，王文建议应走出去融入全球价值网络关 键节点；提升个人技能，增强职场的竞争力；同时，注重投资多元化，降低单一市场波动可能带来的风 险。 全球产业链重构下的中国担当 值得注意的是，"十五五"规划建议中针对未来产业的布局和规划，将对全球经济格局产生深刻影响。对 此，王文表示：一是推动供应链多极化，中国的发展为世界提供了除传统西方中心之外的另一个关键技 术、产品和资本来源地；二是加速技术民主化与竞争，使更多国家能以更低成本获得先进技术（如新能 源），但 ...

专题：2025中国企业竞争力年会 "2025中国企业竞争力年会"于12月9日至10日在北京举行。中国人民大学重阳金融研究院院长，全球领 导力学院院长王文在演讲中表示，当前国际环境的不确定性持续加剧，大国博弈日趋白热化，企业深陷 复杂局势漩涡，需直面一系列现实挑战：供应链中断风险、市场准入受限难题、技术生态脱钩压力、合 规成本飙升等。 "未来对企业的要求越来越高，若想在行业中持续发展，就必须主动适应变局，拿出高明的应对策略。" 2025 年上半年，中国 5000 多家上市公司（作为国内优质企业代表）的海外盈利占比仅约 24%，76% 的 盈利仍来自国内市场；而美国优质企业如星巴克、麦当劳、通用等，海外盈利占比普遍达到 60%、70% 甚至 80% 以上。"我们企业家能够走出去，全球的进行产业布局的空间和潜力还很大。"他说。 第二，要持续提升个人技能，尤其在 AI 时代，现在的企业家跟过去不一样了，过去的十年前，二十年 前有点钱就去卡拉OK，各种炒房，接着这一两年有企业家开打打掼蛋， "我说这都是低层次的学习啊，阅读。报培训班都比那些要更好"他说。 第三，应注重投资多元化，不仅在产业层面拓展，更要实现资产类别的多 ...

专题：2025中国企业竞争力年会 "2025中国企业竞争力年会"于12月9日至10日在北京举行。中国人民大学重阳金融研究院院长，全球领 导力学院院长王文在演讲中表示，当前国际环境的不确定性持续加剧，大国博弈日趋白热化，企业深陷 复杂局势漩涡，需直面一系列现实挑战：供应链中断风险、市场准入受限难题、技术生态脱钩压力、合 规成本飙升等。 第二，要持续提升个人技能，尤其在 AI 时代，现在的企业家跟过去不一样了，过去的十年前，二十年 前有点钱就去卡拉OK，各种炒房，接着这一两年有企业家开打打掼蛋， "我说这都是低层次的学习啊，阅读。报培训班都比那些要更好"他说。 第三，应注重投资多元化，不仅在产业层面拓展，更要实现资产类别的多元配置，增强抗风险能力。 新浪声明：所有会议实录均为现场速记整理，未经演讲者审阅，新浪网登载此文出于传递更多信息之目 的，并不意味着赞同其观点或证实其描述。 责任编辑：李思阳 "未来对企业的要求越来越高，若想在行业中持续发展，就必须主动适应变局，拿出高明的应对策略。" 王文认为，企业应紧跟国家战略调整，在变局中开新局。短期来看，企业需强化风险防御，采取灵活应 对策略，建立供应链备份机制，避免 ...

Core Viewpoint - Emerging markets represent an attractive area for total return-focused investors, with dividend payout ratios comparable to developed markets, both around 85% [1] Group 1: Investment Opportunities - Many companies in emerging markets offer dividend yields exceeding 3%, making them appealing for income-seeking investors [1] - The Asian market, in particular, is becoming increasingly attractive for diversification and investment purposes [1] Group 2: Market Conditions - Geopolitical uncertainties, high concentration in investment markets, and over-investment in U.S. tech stocks are prompting investors to seek diversification [1] - The current investment landscape suggests a shift towards emerging markets as a viable alternative for investors [1]

Core Insights - Asian investors are increasingly focusing on overseas asset allocation, particularly in U.S. government bonds, securitized products, and syndicated loans, aiming to enhance returns while managing credit risk [1][4] - The demand for structured notes in wealth management and retail sectors is on the rise, with over 93,000 non-listed structured products expected to be issued in the Asia-Pacific's top five markets in 2024, generating an estimated sales volume of $226.5 billion, a 21% increase year-on-year [2] - U.S. trade policy changes, including tariffs on imports, are impacting emerging Asian markets, leading investors to seek safer assets like U.S. government bonds and securitized products [3][4] Investment Trends - Asian investors are diversifying their portfolios by increasing allocations to high-quality foreign currency assets, such as Australian dollar-denominated RMBS and U.S./Euro CLOs, while maintaining investments in local bonds [2][4] - The appeal of U.S. dollar-denominated assets is bolstered by their liquidity and transparency, with the U.S. government potentially easing capital market regulations further enhancing attractiveness [5][6] Risk Management - U.S. Treasury bonds are viewed as attractive due to their stable returns and low risk, with Asian investors also favoring CMO and RMBS, which typically yield 70 to 80 basis points higher than U.S. Treasuries [6] - Investors are increasingly interested in alternative assets like CLOs and ABS, which offer higher yields but come with increased credit risk, emphasizing the need for transparency in investment decisions [6] Market Dynamics - The issuance volume in the Asian international bond market remains significantly below 2021 levels, with expectations for a rebound in 2024 hindered by U.S. tariff policies and market volatility [7] - In contrast, the issuance of U.S. dollar debt remains strong, providing necessary liquidity for investors, who continue to view dollar assets as a strategic allocation [7]

Core Viewpoint - The announcement highlights a cornerstone investment agreement between Meidong Automotive and Seres, along with CICC, indicating a strategic move to diversify revenue sources and provide sustainable returns to shareholders [1] Group 1: Investment Details - Meidong Automotive has agreed to invest a total of 20 million USD in Seres through the cornerstone investment agreement [1] - The investment will be made at the issue price for the shares being subscribed [1] Group 2: Strategic Significance - The board believes that the transaction under the cornerstone investment agreement is strategically significant for the company [1] - The investment is expected to diversify the company's revenue sources [1] - It aims to provide continuous investment returns to shareholders [1]

Core Insights - New IRS regulations under the SECURE 2.0 Act will significantly impact catch-up contributions for workers aged 50 and older, particularly those aged 60 and above who can contribute an additional $11,250 to retirement accounts starting January [1][2] Group 1: Changes in Contribution Rules - Individuals aged 60 and older can make an additional contribution of $11,250 to their retirement accounts [2] - Higher earners making over $145,000 must direct any catch-up contributions into Roth accounts instead of traditional accounts [2] Group 2: Tax Implications - The new rule mandates that catch-up contributions for workers aged 50+ go into Roth accounts, which are funded with after-tax dollars, potentially decreasing take-home pay in the short term [4] - Future withdrawals from Roth accounts will grow tax-free, enhancing retirement income and simplifying long-term tax planning [4] Group 3: Financial Planning Considerations - The shift to Roth accounts allows for tax diversification in retirement, enabling strategic withdrawals based on future tax brackets, despite a slight reduction in current take-home pay [5] - Employers may have different matching rules for pre-tax contributions, so it is crucial to review plan specifics to avoid missing out on employer matching funds [5]

Group 1: Japan's Political and Economic Landscape - The continuity of reform policies in Japan, initiated by former Prime Minister Abe, is expected to be upheld by the newly elected Prime Minister, which could lead to a bright future for Japan [2] - The private equity industry in Japan is maturing, with a focus on corporate carve-outs, secondary transactions, and public-to-private deals [3][4] - There is a growing need for infrastructure investment in Japan, particularly in digital infrastructure and energy, which will require significant private capital [4][5] Group 2: Investment Opportunities in India - India is recognized as a major investment destination, with a demographic advantage of 1.4 billion people and a burgeoning manufacturing sector [7] - The Asia infrastructure fund has seen substantial growth, increasing from $13 billion in 2018 to $60 billion currently, with India positioned as a key beneficiary [8] - Investments in India are being made in various sectors, including toll roads, transmission grids, renewable energy, and digital infrastructure, indicating a strong future for infrastructure capital [9] Group 3: Investment Environment in China - The investment landscape in China has become more selective due to geopolitical factors, but there remains a commitment to invest in sectors focused on domestic consumption and value-added services [11][12] - A clearer path to liquidity and an expanding M&A market are seen as critical catalysts for the revival of the private equity industry in China [13][14] - The focus on domestic consumption and local champions continues to drive investment interest, exemplified by a recent $2 billion control buyout in the soft drinks sector [12] Group 4: Global Investment Trends - There is a trend of diversification among global investors, with a shift towards Asian markets as the US dollar weakens and regional economies gain importance [15][16] - Investors are looking to balance their portfolios, with many having limited exposure to Asia, which is expected to change as they seek growth opportunities [18][19]