中国经济网北京11月6日讯今日，平安基金公告，平安中证A500红利低波动ETF增聘白圭尧。 | 基金名称 | 平安中证 A500 红利低波动交易型开放式指 | | --- | --- | | | 数证券投资基金 | | 基金简称 | 平安中证 A500 红利低波动 ETF | | 基金主代码 | 561680 | | 基金管理人名称 | 平安基金管理有限公司 | | 公告依据 | 《公开募集证券投资基金信息披露管理办 | | | 法》 | | 基金经理变更类型 | 增聘基金经理 | | 新任基金经理姓名 | 白圭尧 | | 共同管理本基金的其他基金经理姓名 | 钱晶 | | 离任基金经理姓名 | - | 平安中证A500红利低波动ETF成立于2025年8月27日，截至2025年11月5日，成立来收益率为2.30%。 白圭尧曾任中国五矿集团公司交易员、中国邮政储蓄银行资产管理部投资经理、中邮理财有限责任公司 组合策略部高级副总裁，2025年5月加入平安基金管理有限公司。 ...

Core Insights - Ping An Zhongzheng A500 Dividend Low Volatility ETF (561680) announced the appointment of Bai Guiyao as a new fund manager effective November 6, 2025, alongside current manager Qian Jing [1] - As of November 5, 2025, the net asset value of the fund was 1.0230, reflecting a 0.26% increase from the previous day [1] Manager Background - Bai Guiyao, a Chinese national with a master's degree from the University of International Business and Economics, has held various positions including trader at China Minmetals Corporation and investment manager at China Postal Savings Bank [2] - Bai joined Ping An Fund Management Co., Ltd. in May 2025 and currently manages multiple funds including the Ping An MSCI China A-Shares Low Volatility ETF and the Ping An Shanghai Stock Exchange Dividend Low Volatility Index Fund [2] Fund Management Performance - The following are some of the public funds managed by Bai Guiyao along with their performance metrics: - Ping An Shanghai Stock Exchange Dividend Low Volatility Index A: 0.13 billion, return of 1.53% [3] - Ping An FTSE China State-Owned Enterprises Open Win ETF Link A: 0.03 billion, return of 4.33% [3] - Ping An MSCI China A-Shares ETF: 1.96 billion, return of 7.07% [3] - Ping An Guangdong-Hong Kong-Macao Greater Bay Area ETF: 0.89 billion, return of 24.40% [3] - The estimated return for the Ping An Shanghai Stock Exchange Dividend Low Volatility Index A from a stock adjustment involving Jiangsu Bank was 8.08% [3]

Summary of Key Points Core Viewpoint - The recent announcements of two stock ETFs indicate varying levels of stock positions, with the Huazhong AI ETF at 16.45% and the Huabao Agricultural ETF at 48.23%. The average stock position for newly announced ETFs in September is 24.44% [1][2]. ETF Listings and Positions - A total of 25 stock ETFs have announced listings since September, with the highest stock position being 69.33% for the E-Fonda Shanghai Stock Exchange Sci-Tech Innovation Board Enhanced Strategy ETF [1][2]. - Other ETFs with significant positions include the Jianxin Shanghai Stock Exchange Sci-Tech Innovation Board 200 ETF at 54.12%, and the Huabao Agricultural ETF at 48.23% [1][3]. - Some ETFs, such as the Guolian An Zhongzheng A500 Dividend Low Volatility ETF and the Penghua Sci-Tech Board Semiconductor Materials Equipment Theme ETF, reported a stock position of 0.00% [1][2]. Fundraising and Share Statistics - The average fundraising for newly announced ETFs in September is 558 million shares, with the top three being the Fuguo National Robot Industry ETF at 2.344 billion shares, Guolian An Zhongzheng A500 Dividend Low Volatility ETF at 1.247 billion shares, and Huizhen Shanghai Stock Exchange Sci-Tech Innovation Board AI ETF at 1.089 billion shares [1][2][3]. Institutional Investor Holdings - Institutional investors hold an average of 10.12% of the shares in these ETFs, with the highest being the Guolian An Zhongzheng A500 Dividend Low Volatility ETF at 98.93% [2][3]. - ETFs with lower institutional ownership include the Huazhong AI ETF at 0.55% and the Penghua Comprehensive ETF at 1.52% [2][3].

Core Viewpoint - A total of 11 stock ETFs have announced their listing in September, with varying levels of investment positions, indicating a diverse approach to market entry and investment strategy [1][2]. Group 1: ETF Listings and Investment Positions - The Huazhong Hang Seng Biotechnology ETF will be listed on September 16, 2025, with a total of 918 million shares and a current investment position of 16.67% in stocks [1]. - The average investment position of the newly listed ETFs is 29.54%, with the highest being the E Fund Shanghai Stock Exchange Science and Technology Innovation Board Comprehensive Enhanced Strategy ETF at 69.33% [1][2]. - Other ETFs with significant positions include the CCB Shanghai Stock Exchange Science and Technology Innovation Board 200 ETF at 54.12% and the Huitianfu Shanghai Stock Exchange Science and Technology Innovation Board Artificial Intelligence ETF at 40.87% [1]. Group 2: Fund Size and Institutional Ownership - The average number of shares raised by the newly listed ETFs is 552 million, with the largest being the Huitianfu Shanghai Stock Exchange Science and Technology Innovation Board Artificial Intelligence ETF at 1,089 million shares [2]. - Institutional investors hold an average of 8.27% of the shares across these ETFs, with the highest being the CCB Shanghai Stock Exchange Science and Technology Innovation Board 200 ETF at 32.48% [2]. - ETFs with lower institutional ownership include the Penghua Growth Enterprise Board Comprehensive ETF and the E Fund China Securities Financial Technology Theme ETF, with ownership rates of 1.52% and 1.70%, respectively [2].

Core Viewpoint - The A-share market is experiencing significant growth, with indices reaching new highs, while investors are increasingly seeking stable investment options amidst heightened market volatility [1]. Group 1: Product Overview - The Ping An Asset Management's Ping An CSI A500 Dividend Low Volatility ETF (code: 561680) was officially launched on September 5, providing a strategy tool that balances high dividends and risk control [1]. - The fund tracks the CSI A500 Dividend Low Volatility Index, which selects 50 stocks with high dividend yields and low volatility from leading companies across various sectors, making it a quality choice for asset allocation in the current market environment [1][3]. - The fund's establishment scale reached 803 million yuan, indicating strong investor recognition [1]. Group 2: Index Performance - Since 2015, the annualized return of the A500 Dividend Low Volatility Index has reached 10.81%, outperforming traditional dividend indices by at least 1% in long-term annualized returns [2]. - The index has demonstrated lower volatility and smaller maximum drawdowns, winning against three mainstream dividend indices in five out of the last ten years, showcasing its defensive attributes during economic downturns [2]. Group 3: Advantages of the Index - The A500 Dividend Low Volatility Index has several advantages over traditional dividend indices, including a stronger risk resistance due to the selection of leading stocks with robust profitability [3]. - The index maintains a balanced industry allocation, covering 21 primary industries, thus avoiding excessive concentration in traditional sectors like banking and transportation [3]. - It aligns well with the current economic transformation trends by overweighting core assets in new productive forces, supporting sustainable performance and dividend distribution [3]. Group 4: Investor Suitability - The index is suitable for conservative investors affected by bank wealth management products, who favor high dividend yields while avoiding high volatility in A-shares [6]. - It appeals to investors seeking stable returns to hedge against inflation, particularly those unfamiliar with equity index investments [7]. - Investors who have experienced account drawdowns in volatile markets but wish to continue investing in core A-share assets may consider transitioning from single broad-based index investments to broad strategy index investments [7]. - Institutional funds, such as insurance and annuity accounts, can also utilize the A500 Dividend Low Volatility Index to optimize asset allocation and enhance portfolio performance during market fluctuations [7]. Group 5: Market Implications - The launch of the Ping An CSI A500 Dividend Low Volatility ETF signifies a shift towards "refined selection" in domestic dividend strategy ETFs, providing investors with a pathway that balances high dividends and risk control [8].

Group 1 - Two stock ETFs have announced their listing, with the Huatai-PineBridge SSE STAR Market Artificial Intelligence ETF having a stock position of 47.98% and the Ping An CSI A500 Dividend Low Volatility ETF at 39.86% [1] - In the past month, 34 stock ETFs have announced their listings, with an average position of only 23.97%. The highest position is held by the Harvest Hang Seng Stock Connect Technology Theme ETF at 54.18% [1][2] - The average fundraising for the recently announced ETFs is 598 million shares, with the top three being E Fund National Index Growth 100 ETF, Huaxia National Index Hong Kong Stock Connect Technology ETF, and Huaan Hang Seng Stock Connect Technology Theme ETF, with shares of 1.772 billion, 1.478 billion, and 1.453 billion respectively [1] Group 2 - The average proportion of shares held by institutional investors is 12.74%, with the highest being Huaxia CSI Hong Kong Stock Connect Medical Theme ETF at 95.41% [2] - The ETFs with the lowest institutional investor holdings include the China Merchants CSI Robot ETF at 0.18% and the Penghua STAR Market Artificial Intelligence ETF at 1.65% [2]

Core Viewpoint - The approval and issuance of the first batch of CSI A500 Dividend Low Volatility ETFs mark a significant milestone in the domestic fund market, providing investors with diversified asset allocation options and promoting rational and stable investment in the capital market [3][4]. Group 1: ETF Approval and Market Context - The first batch of CSI A500 Dividend Low Volatility ETFs was officially approved in July 2025, following the release of the CSI A500 Dividend Low Volatility Index in April of the same year [1]. - The initial offering of the Ping An CSI A500 Dividend Low Volatility ETF (subscription code 561683) received widespread attention and recognition from investors on its first day of issuance [1]. Group 2: Index Characteristics and Performance - The CSI A500 Dividend Low Volatility Index has achieved an annualized return of 10.81% since 2015, outperforming traditional dividend indices by 1% [2]. - The index has demonstrated lower volatility and smaller maximum drawdowns, winning five out of the last ten years against three mainstream dividend indices, showcasing its defensive attributes during economic downturns [2]. - The index includes 50 stocks selected for high dividend yield and low volatility, utilizing four optimization metrics to better reflect the performance of high-dividend and low-volatility stocks [1][2]. Group 3: Investor Suitability and Market Impact - The index is suitable for various investor profiles, including those seeking stable returns to counter inflation, investors unfamiliar with equity index investments, and institutional funds looking to optimize asset allocation [3]. - The launch of the CSI A500 Dividend Low Volatility ETFs is expected to attract significant capital from both individual and institutional investors, enhancing market vitality and promoting the prosperity of the capital market [4].

Group 1 - The Ping An CSI A500 Dividend Low Volatility ETF (561683) will be available for subscription from August 11, 2025, to August 22, 2025 [1] - The cash fundraising cap for the ETF is set at 2 billion yuan [1] - The fund is managed by Ping An Fund, with Qian Jing serving as the fund manager [1] Group 2 - The performance benchmark for the fund is the return rate of the CSI A500 Dividend Low Volatility Index [1]

Group 1 - Fund advisors are actively adjusting their portfolios, with 141 fund advisor combinations changing their holdings in July. Stock-oriented advisory products are reducing exposure to bond funds while increasing allocations to equity funds [1] - As of August 7, 2023, 4,347 out of 4,598 active equity funds have achieved net value growth this year, representing a high percentage of 94.54%. Notably, 1,126 products have reached new net value highs since their inception [2] - The performance gap between the best and worst performing active equity funds has reached nearly 150 percentage points, with average returns of 15.1% for the year and top performers nearing 130% returns, while the bottom performers have seen declines exceeding 18% [3] Group 2 - Allianz Fund's Chief Investment Officer Cheng Yu predicts significant excess returns for quality technology assets in the third quarter, driven by a new cycle of value reassessment in Chinese stocks [3] - The market is expected to maintain a bullish trend in the third quarter, with technology sector fundamentals accelerating [3] Group 3 - The ETF market experienced narrow fluctuations, with the Shanghai Composite Index down 0.12% and the Shenzhen Component Index down 0.26%. Total trading volume in the two markets was 1.71 trillion yuan, a decrease of 115.3 billion yuan from the previous trading day [4] - Certain sectors such as cement, transportation equipment, and wind power equipment saw gains, while software development, semiconductors, and education sectors faced declines [4] Group 4 - The engineering machinery and infrastructure ETFs are highlighted as potential investment opportunities due to expected recovery in manufacturing profitability and overall demand for machinery [7]