Group 1 - The core viewpoint of the article highlights that despite fluctuations in the dividend index, dividend funds have continued to attract capital, reaching a record high in total scale in the first quarter of the year [2][4] - As of the end of the first quarter, the total scale of dividend funds reached 251.367 billion yuan, an increase of approximately 27 billion yuan compared to the end of the previous quarter [4] - Several products saw significant scale increases, with the Morgan S&P Hong Kong Stock Connect Low Volatility Dividend ETF and the China Europe Dividend Preferred Fund increasing by 3.468 billion yuan and 2.76 billion yuan, respectively [4] Group 2 - Industry insiders believe that while equity funds have reduced their allocation to dividend assets, the scarcity of quality assets suggests that dividend assets still hold good allocation value [3] - The growth in the scale of dividend funds is attributed to several factors, including policy encouragement for companies to distribute dividends, long-term capital entering the market, and a flight to safety amid tariff disruptions [4][6] - The performance of dividend indices was generally negative in the first quarter, with the CSI Dividend Index declining by 3.11%, leading to a reduction in equity funds' allocation to dividend assets [4][5] Group 3 - Analysts suggest that the current market is shifting from "broad dividends" to "high-quality dividends," with stable dividend-paying sectors like banking and publishing showing resilience against macroeconomic variables [5][6] - The investment value of dividend assets remains, with a focus on low valuation and high dividend yield sectors presenting opportunities, particularly before the annual dividend distribution period from May to July [6] - Dividend assets are expected to benefit from economic improvement, with a GDP growth rate of 5.4% in the first quarter indicating potential positive trends for these assets [6] Group 4 - Potential risks include the possibility of capital flow reversals if dividend assets experience increased volatility, especially given the significant gains accumulated in 2024 [7][8] - High levels of trading congestion and market changes are also noted as risks, particularly if the development logic of consumer and technology assets reverses, which could siphon off capital from dividend assets [8] - Recommendations for investing in dividend assets include using dollar-cost averaging and grid trading strategies, while closely monitoring macroeconomic changes [9]