南方基金以持续完善的产品布局、行业领先的投资精度、科技赋能的管理体系，锻造指数投资硬核实力 从新"国九条"提出建立ETF快速审批通道，到《促进资本市场指数化投资高质量发展行动方案》明确持续丰富指数基金产品体系、加快优化指 数化投资发展生态；从指数基金纳入个人养老金投资产品名录，到公募基金行业费率改革持续推进——近两年，在多重利好因素共同驱动下， 指数基金尤其是ETF迎来了黄金发展期。 Wind数据显示，截至12月17日，2025年以来ETF份额增加0.67万亿份至3.33万亿份，增幅为25.43%；总规模增加2.06万亿元至5.79万亿元，增 幅达到55.12%；新发行了328只ETF基金，总数目达到1380只。 基金公司纷纷投入到这场指数投资浪潮中，为投资者带来低成本、高透明的被动投资选择，拓宽财富增长路径。 其中，南方基金指数团队凭借多年深耕积淀，以持续完善的产品布局、行业领先的投资精度、科技赋能的管理体系，锻造指数投资竞争力。该 公司以金融"五篇大文章"为抓手，在提升投资者获得感的同时，打造了一个以指数投资服务国民经济重点领域和现代化产业体系建设的"南方 样本"。 全维产品矩阵，服务国家战略 《促进资本 ...

Core Insights - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (520660) has seen a 1.02% increase, marking a potential three-day winning streak with a trading volume of 45.99 million yuan [1] - As of November 6, the ETF's latest scale reached a record high since its inception, with a total net inflow of 123 million yuan over the past ten trading days [1] - China Shenhua has announced a significant cash dividend distribution of approximately 19.5 billion yuan, representing 79% of the company's mid-term net profit attributable to shareholders [1] Group 1 - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (520660) is closely tracking the CSI National State-Owned Enterprises Dividend RMB Mid-Price Index, which selects stable dividend-paying companies from the State-owned Assets Supervision and Administration Commission's list [2] - The top ten weighted stocks in the index include major companies such as China Petroleum, China Shenhua, and China Mobile, reflecting a focus on high dividend yield state-owned enterprises [2] Group 2 - In the first half of 2025, insurance funds accelerated their allocation to dividend stocks, with an increase of nearly 320 billion yuan, surpassing the total allocation for the previous year [2] - The insurance sector is facing challenges due to rising valuations and declining dividend yields, prompting a shift from a "buy and hold" strategy to a more selective approach [2] - It is estimated that the industry is still under-allocated in dividend stocks by 800 billion to 1.6 trillion yuan, with potential completion of this allocation in the next two to three years [2]

Group 1 - A-shares opened lower on July 30, 2025, with the Shanghai Composite Index rebounding, while Hong Kong stocks experienced fluctuations, particularly in high-dividend sectors such as steel, petrochemicals, and coal [1] - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (520660) reached a new high of 1.142 billion yuan as of July 29, with continuous net inflows over the past three days [1] - The Low Volatility Dividend ETF (515450) achieved a record high of 13.259 billion yuan, with a total net inflow of 3.019 billion yuan over the past 16 days [1] Group 2 - China Galaxy Securities noted that adjustments to the long-term assessment of insurance funds by the Ministry of Finance will encourage insurance capital to increase equity asset allocation, benefiting bank stocks due to their stable dividends and low valuations [2] - Guosen Securities (Hong Kong) indicated that despite recent pullbacks in the banking sector, long-term funds like insurance still face asset scarcity, making high-quality retail banks attractive defensive assets [2] - The Low Volatility Dividend ETF (515450) closely tracks the S&P China A-Share Large Cap Low Volatility Dividend Index, which measures the performance of the 50 least volatile high-dividend large-cap stocks in the A-share market [2] Group 3 - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (520660) tracks the CSI National New Hong Kong Stock Connect Central State-Owned Enterprises Dividend Index, reflecting the performance of high-dividend state-owned enterprises [3] - The Cash Flow ETF (159232) tracks the CSI All Index Free Cash Flow Index, which selects 100 companies with high free cash flow rates to represent the overall performance of companies with strong cash flow generation capabilities [3]