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指数基金投资+:量化全天候策略连续两周新高
Huaxin Securities· 2025-07-07 05:33
Group 1 - The report highlights that the domestic A-share market has seen a significant improvement in liquidity risk, with a total transaction volume of 1.44 trillion yuan this week, driven by continuous buying from state-owned funds [5] - The report indicates a positive outlook for the military industry, particularly in the context of the marine economy, which is expected to catalyze growth in the sector [5] - The report notes that the semiconductor and domestic consumption sectors present potential investment opportunities due to improved risk appetite and capital inflows [5] Group 2 - The report details that the "Xinxuan ETF Absolute Return Strategy" has achieved an annualized return of 14.23% over the past three years, with a maximum drawdown of only 8.6% [10] - The "All-Weather Multi-Asset Risk Parity Strategy" has yielded a return of 20.85% since the beginning of 2024, with a maximum drawdown of 3.62% [14] - The "China-US Core Asset Portfolio" has delivered an annualized return of 34.05% since early 2015, outperforming various indices [20] Group 3 - The report states that 17 new index funds were filed this week, including 3 ETFs and 5 linked funds, indicating a growing interest in index-based investment products [34] - A total of 20 new public funds were established this week, raising a total of 5.328 billion yuan, with 11 new index funds accounting for 3.226 billion yuan of that total [35] - The report mentions that 6 new funds are set to be listed next week, including the "E Fund National Value 100 ETF" and the "Industrial Bank China Hong Kong Stock Connect Automotive Industry Theme ETF" [38] Group 4 - The report indicates that A-share ETFs experienced a net outflow of 136.4 billion yuan, while bond ETFs saw a net inflow of 122.9 billion yuan [43] - The report highlights that the Hong Kong ETF market has seen a net inflow of 88 billion yuan, reflecting a positive sentiment towards cross-border investments [48] - The report notes that commodity ETFs, particularly gold ETFs, have seen an increase in investment, with a net inflow of 23.18 billion yuan [52]
华鑫量化全天候策略连续三周新高
Huaxin Securities· 2025-06-15 15:39
证 券 研 究 报 告 金融工程周报 华鑫量化全天候策略连续三周新高 ——指数基金投资+ 2025年06月15日 n 分析师:吕思江 n 联系人:刘新源 n SAC编号:S1050522030001 n SAC编号:S1050123100011 n 联系人:武文静 n SAC编号:S1050123070007 市场观点和ETF交易机会 p 【国内市场跟踪】本周市场日均成交放量至1.37万亿,A股4月8日以来忽视经济下行趋势积极交易中美关 系,大盘走至核心点位抛压较大,市场低波动窄幅震荡下情绪较为脆弱,核心指数中仅创业板指小幅上涨 0.22%收红,北证50和科创板领跌,量化基金形成赚钱效应后增量资金持续进入支撑小盘延续领涨,当前 小微盘均在高位且拥挤度持续处于风险提示信号。2025年6月13日至15日,伊朗与以色列爆发激烈军事冲 突,双方互相发动多轮导弹和无人机袭击,伊朗核设施及以色列境内目标遭重创,局势持续升级,风险资 产承压。港股创新药本周大涨11%,南向资金在本周后两个交易日开始卖出ai科技追涨创新药,周买入前 10个股有3只为创新药个股:信达生物、石药集团、三生制药,港股创新药进入泡沫化区间短期转为看空 ...