1月12日，A股三大指数放量上涨，截止发稿，A500ETF南方（159352）涨0.85%，成交额70亿元。资金 流向方面，近20日获净申购208.48亿元，最新规模476亿元。消息面，1月9日，港交所网站发布最新调 整的"ETF通"名单，自1月19日起，在上交所上市的54只ETF将被纳入北向沪股通名单，在深交所上市的 44只ETF将被纳入北向深股通名单，其中，A500ETF南方（159352）被纳入，至此，"ETF通"产品数量 将突破300只。国信证券表示，当前是增配A股的战略机遇期，展望2026年，宏观和股市制度依然温 暖，国内基本面有望步入上行通道，市场上涨仍有较大空间。中泰证券认为，指数层面趋势演绎以量能 表现为核心，在成交未明显萎缩之前本轮上行趋势或仍持续，两融余额稳步突破前高，反映出市场高风 险偏好逐步成为共识，春节前行情有望新高。短期内市场或延续上行趋势，遇震荡行情，投资者可把握 逢低布局机遇，抓住春节前的重要窗口期配置价值。资料显示，A500指数作为中国核心资产代表，兼 顾传统及新兴产业，具备估值、盈利、分红等相对优势，当下对其的资金配置需求有望提高。A500指 数成分行业分布更均衡，兼顾传统 ...

12月31日，截止午盘，A股三大指数调整，A500ETF南方（159352）微跌0.32%，成交额61.57亿元。资 金流向方面，该基金昨日获得净申购1.34亿元，近五日净流入44亿元，近十日净申购152亿元，近20日 净申购247亿元。数据显示，2024年12月31日A500ETF南方（159352）规模226.42亿元，截止昨日规模 467.73亿元，即一年增长了241亿元，规模暴增106.58%。浙商证券表示，年初处于政策落地与业绩披露 的真空期，市场关注点可能在于来年的政策预期和产业趋势，偏中小盘成长风格的主题投资或将有活跃 表现。2026 年1月成长价值继续均衡，中小市值风格或相对占优。在科技成长共识的基础上，建议边际 增加对顺周期（消费+周期）和金融风格的关注。西部证券认为，短期看，大量的待结汇资金和跨境资 本有望随人民币升值加速结汇/回流，强化人民币升值趋势，中长期看，中国强大的工业实力带来的出 口竞争力是人民币升值的根本动力。跨境资本回流叠加化债政策空间打开，实体现金流量表和资产负债 表有望依次修复，2026 年中国有望迎来繁荣的起点。大类资产继续坚定看好AH 股/国债等人民币资 产。德邦证券 ...

12月24日消息，A股三大指数集体上涨，截止发稿，A500ETF南方（159352）涨幅0.49％，成交额84亿 元。资金流向方面，A500ETF南方（159352）已连续15天获得资金净申购，最新规模418.38亿元。该基 金近5日获108.25亿元净流入，近10日获得179.61亿元净流入，近20日获得196.13亿元净申购。市场 对"春季躁动"行情的期待逐渐升温，机构持续看好中国资产。高盛认为，中国股市周期正从"预期驱 动"转向"盈利驱动"，在这一阶段，盈利兑现与估值温和扩张将成为推动回报的核心动力。华西证券李 立峰团队分析认为，"春季躁动"的积极条件正在积累。 历史数据显示，A股"春季躁动"行情启动通常需 满足合理的估值水平、宽松的流动性环境以及有效提振风险偏好的催化剂。当前来看，海外美联储降息 和日本央行加息均已落地，市场对套利交易逆转担忧缓解。资料显示，A500ETF南方（159352）紧密跟 踪中证A500指数，中证A500指数从各行业选取市值较大、流动性较好的500只证券作为指数样本，以反 映各行业具有代表性上市公司证券的整体表现。作为A股宽基指数"新势力"，中证A500行业覆盖更广， 相比沪 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 12月22日，A股三大指数集体走高，跨年行情拉开序幕，截止午盘，中证A500ETF南方（159352）放量 上涨0.99%，成交额54.94亿元。 近期资金大幅流入中证A500ETF南方（159352），截止12月19日，A500ETF南方（159352）近13天获得 连续资金净流入，该基金最新份额294.18亿份，规模356.84亿元。近5日资金净流入101亿元，近10日净 流入139亿元，近20日净流入141亿元。 业内人士表示，近期A500ETF的巨量交投与规模跃升，反映出机构化、指数化投资趋势的深化，以 及"耐心资本"入市渠道的进一步畅通。 晨星中国基金研究中心高级分析师李一鸣认为，近期A500ETF成交额放大可能是受到跨年行情预期与政 策催化的影响，国内外宽松政策预期升温推动资金布局跨年行情，A500指数作为重要的宽基品种，成 为资金配置工具。并且，政策引导耐心资本入市，宽基ETF成为增量资金入场的重要通道。 李一鸣表示，中证A500指覆盖沪深两市市值较大的股票，兼具大盘蓝筹的稳定性与中盘的弹性，行业 分布均衡，相比沪深300 ...

Core Viewpoint - The article emphasizes that Southern Fund has become a leader in the ETF market due to its comprehensive product layout, top-tier research team, and intelligent technology empowerment, amidst increasing complexity in ETF choices for investors [1][2]. Comprehensive Product Layout - Southern Fund has developed a comprehensive product matrix since launching its first deep ETF in 2009, including flagship products like Southern CSI 500 ETF (510500) and Southern CSI 1000 ETF (512100), covering various market segments and asset classes [3][4]. - The total number of funds managed by Southern Fund has reached 126, with a total scale exceeding 402.2 billion yuan, maintaining a leading position in the industry [4]. - The Southern CSI 500 ETF (510500) is noted for being the largest and most liquid equity ETF in the market, with a scale of 136.9 billion yuan [4]. Focus on Technology and New Industries - Southern Fund is strategically focused on new industries and technologies, including artificial intelligence, semiconductors, and green finance, aligning with national strategies and providing investors with opportunities in economic transformation [5]. - The fund has launched various ETFs that reflect shareholder returns, such as the Dividend Low Volatility 50 ETF and Cash Flow ETF, responding to the growing demand for high-quality, stable assets [5]. Top-tier Research Team - The passive index funds managed by Southern Fund are characterized by high tracking precision, supported by a professional research team of 33 members with strong academic backgrounds and international experience [6]. - The core fund manager team has an average research experience of 10 years, covering a complete process from index product development to quantitative research and fund management [6]. Intelligent Technology Empowerment - Southern Fund has integrated AI and expert intelligence (EI) into its investment strategy, enhancing the precision of index investment management and providing a comprehensive risk monitoring system [8][9]. - The fund's intelligent investment management platform allows for automated risk intervention and improved investor service through diversified ETF solutions [8][9]. Service and Support System - Southern Fund has established a robust strategy service system that includes asset allocation, industry rotation, and tactical trading, along with various research reports and direct communication with fund managers [9]. - The company aims to enhance its core competitiveness in the ETF sector by continuously improving its product offerings, management expertise, and intelligent services, thereby supporting investors in seizing long-term opportunities in the capital market [9].

同时，南方基金在ETF业务全链条持续锤炼核心能力，在研究开发、投资运作、系统支持、风险管理、产品销售等领域积淀深厚经验：依托自主研发的"智能化ETF 投资管理系统"，截至2024年底南方基金旗下被动指数基金近三年规模加权跟踪误差仅0.38%，位列全行业第一；作为业内最早应用做市商制度的基金公司之一，南 方基金已形成完备的做市商量化考核机制，与多家业内知名的做市商机构开展深度合作，百亿资金便利进出。此外，南方基金还同步提供衍生品工具支持（如股指 期货、ETF期权策略适配）与指数策略编制研究，为合作券商及投资者提供全场景服务支撑。 强化联动，携手提升投资者获得感 ▲南方基金副总经理 侯利鹏 关于后续公募基金与券商在财富管理业务上的合作计划，南方基金侯利鹏强调未来将提供更精准的产品支持、共享更专业的投顾资源、搭建更高效的合作平台。 南方基金副总经理侯利鹏日前在2025中国证券业财富经纪论坛上表示，财富管理市场正处在"从规模扩张向质量深耕"的转型关键期，以ETF为代表的长期资金正 为股票市场持续注入活水，南方基金未来将通过提供更精准的产品支持、共享更专业的投顾资源、搭建更高效的合作平台，进一步强化与券商伙伴的联动，携 ...

Group 1 - The core viewpoint of the article emphasizes the importance of the CSI A500 Index as a key asset during the economic transformation period, providing investors with a tool to capture new productivity opportunities amidst market volatility [2][3] - The CSI A500 Index is designed to reflect the core assets of the entire market, showcasing a unique compilation logic that selects 500 leading stocks with high market capitalization and liquidity from various industries, ensuring its industry weight structure aligns with the overall market benchmark [3][4] - The index has a high concentration in emerging industries, with approximately 49.35% of its weight in sectors such as electronics, communication, computer, media, machinery, defense, pharmaceuticals, and automotive [3][4] Group 2 - The CSI A500 Index offers better risk diversification due to its balanced industry selection, which helps mitigate the risks associated with single-sector volatility, thus allowing for precise capture of economic transformation benefits [4][5] - Historical performance indicates the long-term viability of the CSI A500 Index, achieving an annualized return of 8.0% over the past 20 years, with a 0.9% annualized excess return compared to the CSI 300 Index [5] - Since 2020, the cumulative excess return of the CSI A500 Index has expanded to 6.8%, with an annualized excess return of 1.3%, demonstrating its characteristic of "falling less in downturns and leading in upturns" [5] Group 3 - The valuation of the A-shares remains attractive, with the CSI A500 Index's current PE at 15 times and PB at 1.5 times, positioning it at the 67th and 23rd percentiles of the past decade, respectively, indicating a relatively low valuation [6] - The improvement in corporate earnings fundamentals supports the index, as the economic and corporate earnings cycles are likely at the bottom and pointing towards recovery [6][7] - Since the launch of the A500 ETF by Southern Fund in October 2024, it has seen a significant inflow of over 200 billion yuan, reflecting market confidence [6][7] Group 4 - Among various products tracking the CSI A500 Index, the A500 ETF by Southern Fund stands out due to its excellent tracking accuracy and refined management [7][8] - The core fund managers of Southern Fund's index team have an average of ten years of experience, covering key research areas such as artificial intelligence, financial analysis, and quantitative technology [7] - The A500 ETF has maintained industry-leading tracking precision and has a low fee structure, with a management fee of only 0.15% and a custody fee of 0.05% [7][8]