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景顺长城中证国新港股通央企红利ETF投资价值分析:港股央企红利,底仓配置优选
Soochow Securities· 2025-09-25 08:04
证券研究报告·策略报告·策略深度报告 策略深度报告 20250925 港股央企红利,底仓配置优选——景顺长城 中证国新港股通央企红利 ETF 投资价值分 析 [Table_Summary] ◼ 看好港股红利的长期配置价值 1)配置视角:红利资产胜率占优,具备长期底仓配置价值。今年以来(截 至 9 月 18 日,后同),港股红利资产在市场波动中展现出极佳韧性,收益 回撤比高达 2.2 倍。未来中国资产牛仍将持续,红利资产虽在弹性上不及 成长板块,但仍凭借其高股息率与低波动率的特性,具备显著的绝对收益 配置价值。 2)政策视角:政策推动红利资产吸引力提升。2024 年至今,A 股上市公 司分红力度明显加大,政策支持为红利资产注入长期估值重塑动能。此外, 债券增值税新规或间接利好红利类资产。 3)资金视角:险资等长钱配置需求有望持续释放。当成长风格占据主导 时,部分交易型资金可能向成长板块迁移;但险资为代表的中长期资金基 于负债端久期匹配与收益稳定的需求,仍将为红利资产带来长期稳定的资 金流入。 4)红利资产内部:港股>A 股:港股恒生高股息指数的股息率为 6.14%, 经税后的实际收益水平仍优于 A 股同类资产。 ...
9月17日港股央企红利ETF(159333)份额减少100.00万份
Xin Lang Cai Jing· 2025-09-18 01:11
来源:新浪基金∞工作室 港股央企红利ETF(159333)业绩比较基准为中证港股通央企红利指数收益率(经估值汇率调整),管理 人为万家基金管理有限公司,基金经理为杨坤,成立(2024-08-21)以来回报为44.98%,近一个月回报 为0.23%。 风险提示:市场有风险,投资需谨慎。本文为AI大模型自动发布,任何在本文出现的信息(包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等)均只作为参考,不构成个人投资建 议。 9月17日,港股央企红利ETF(159333)涨0.00%,成交额1404.19万元。当日份额减少100.00万份,最新 份额为3.82亿份,近20个交易日份额减少2300.00万份。最新资产净值计算值为5.51亿元。 ...
8月11日港股央企红利50ETF(520990)份额减少400.00万份,最新份额48.85亿份,最新规模49.48亿元
Xin Lang Cai Jing· 2025-08-12 01:11
港股央企红利50ETF(520990)业绩比较基准为中证国新港股通央企红利指数收益率(使用估值汇率折 算),管理人为景顺长城基金管理有限公司,基金经理为龚丽丽、汪洋,成立(2024-06-26)以来回报为 4.77%,近一个月回报为5.51%。 风险提示:市场有风险,投资需谨慎。本文为AI大模型自动发布,任何在本文出现的信息(包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等)均只作为参考,不构成个人投资建 议。 来源:新浪基金∞工作室 8月11日,港股央企红利50ETF(520990)涨0.20%,成交额7453.31万元。当日份额减少400.00万份,最 新份额为48.85亿份,近20个交易日份额减少2.07亿份。最新资产净值计算值为49.48亿元。 ...
8月1日港股央企红利50ETF(520990)份额减少1700.00万份,最新份额53.02亿份,最新规模52.35亿元
Xin Lang Cai Jing· 2025-08-04 01:12
Group 1 - The Hong Kong Central State-Owned Enterprises Dividend 50 ETF (520990) experienced a decline of 0.80% on August 1, with a trading volume of 264 million yuan [1] - The fund's shares decreased by 17 million, bringing the total shares to 5.302 billion, with an increase of 460 million shares over the past 20 trading days [1] - The latest net asset value of the fund is calculated at 5.235 billion yuan [1] Group 2 - The performance benchmark for the Hong Kong Central State-Owned Enterprises Dividend 50 ETF is the CSI National New Hong Kong Stock Connect Central State-Owned Enterprises Dividend Index return rate, adjusted using the valuation exchange rate [1] - The fund is managed by Invesco Great Wall Fund Management Co., Ltd., with fund managers Gong Lili and Wang Yang [1] - Since its establishment on June 26, 2024, the fund has achieved a return of 2.13%, with a monthly return of 5.12% [1]
港股红利指数ETF(513630)跟踪指数创近五年新高,强势三连涨,重要会议强调实施好适度宽松的货币政策
Sou Hu Cai Jing· 2025-05-22 00:18
Market Performance - As of May 21, 2025, Hong Kong's three major indices collectively rose, with sectors such as electrical equipment, non-ferrous metals, and textiles leading the gains, while household goods and food & beverage sectors saw declines [1] - The S&P Hong Kong Stock Connect Low Volatility Dividend Index achieved a three-day consecutive rise, reaching a nearly five-year high during intraday trading [1] ETF Insights - The Hong Kong Dividend Index ETF (513630) recorded a trading volume of 310 million yuan on May 21, 2025, with a total size of 10.578 billion yuan and 7.583 billion shares, making it the largest among Wind's cross-border strategy index ETFs [1] - Including the off-market index fund, the total size of Morgan's products tracking the S&P Hong Kong Stock Connect Low Volatility Dividend Index exceeds 12.8 billion yuan [1] Performance Comparison - The S&P Hong Kong Stock Connect Low Volatility Dividend Index posted a 12.88% increase over the past year, significantly outperforming the CSI Dividend Index at -3.96% and the CSI Low Volatility Dividend Index at 0.76% [1] Policy and Market Outlook - The People's Bank of China continues to increase gold reserves, enhancing market confidence and sustaining a global trend of central bank gold purchases, indicating a bullish outlook for gold in the medium to long term [2] - A recent meeting led by the central bank governor emphasized the implementation of a moderately loose monetary policy to support effective financing for the real economy, focusing on technology innovation, consumption, and stabilizing foreign trade [2] Investment Strategies - Under the influence of policy, the market is expected to further focus on high-dividend state-owned enterprises in Hong Kong, with an increasing emphasis on investor returns and improved dividend systems [2] - Morgan Asset Management has launched an international "Dividend Toolbox" series of funds, providing diversified dividend investment solutions covering A-shares, Hong Kong stocks, and Asian markets [2] Fund Highlights - The Morgan Free Cash Flow ETF (563900) closely tracks the CSI Free Cash Flow Index, focusing on high cash flow quality "cash cow" enterprises [3] - The Morgan Dividend Select Equity Fund aims to exceed benchmark returns by utilizing a quantitative stock selection model based on the CSI Dividend Index [3] - The Morgan Asia Dividend Fund focuses on high-dividend assets in the Asia-Pacific region, having won the "Golden Bull Overseas Mutual Fund" award for three consecutive years [3] Additional Fund Information - The Morgan CSI A50 ETF (560350) emphasizes core A-share assets and incorporates a quarterly mandatory dividend mechanism, with nearly 100 million yuan in cumulative dividends for 2024 [3] - The Morgan CSI A500 ETF (560530) targets quality A-share assets and has introduced a quarterly dividend mechanism, also being one of the first index funds included in personal pension plans [4] Investment Philosophy - Morgan Asset Management is committed to identifying relatively "certain" quality asset investment opportunities in the new normal of interest rates, leveraging global market insights and research capabilities to enhance client experience and satisfaction [5]