Investment value Analysis of CSI Shanghai, Hong Kong and Shenzhen 500 Index:
1. The index provides a "one-stop" solution for the core asset allocation of the AH market. Due to the advantages of Hong Kong capital market in listing threshold, system, efficiency and the attractiveness of foreign exchange freedom, mainland Internet companies have listed more Hong Kong shares in the past, and only A shares can not match all the industry leaders. The CSI Shanghai, Hong Kong and Shenzhen 500 Index provides a "one-stop" solution for core asset allocation, including not only the big consumer leader of A shares, but also the technology leader of Hong Kong stocks on the basis of comprehensive financial coverage. and its half-yearly adjustment method can also be quickly included for the newly listed leading enterprises. The continued attractiveness of the Hong Kong market will usher in the listing of more industry leading companies in the future, such as Zan Technology, Top Gloves, Prozac, JD.com Logistics, Nai Xue Tea and other companies have begun to hear.
2. With the continuation of the Matthew effect in the future, the leading companies will continue to gain market share, the degree of industry concentration will be further improved, and the trend of core asset investment will remain unchanged. Due to the slowdown of overall economic growth and the maturity of various industries, head companies are gaining more and more market share. This has led to the obvious Matthew effect of A shares in recent years. We quantitatively measure the changes of concentration in various industries, and find that except for cyclical and a few other industries, most industries are in the trend of increasing concentration, some long-term concentration, some bottoming out, some accelerating, and there is still much room for improvement in the future, especially in pharmaceutical, banking, iron and steel, media and other industries, so the high probability Matthew effect will continue in the future. The investment trend of core assets remains unchanged.
3. The index focuses on the three major sectors of finance, technology and consumption, with a style of large market capitalization, high Beta, medium-to-high growth, and will continue to maintain high growth in the future. The index focuses on the financial, technology and consumer leaders of A shares. At present, 58 per cent of A shares and 42 per cent of Hong Kong stocks account for more than 75 per cent of the total. Some of the A shares have the characteristics of medium market capitalization, high Beta and medium-to-high growth. Hong Kong stocks are similar to the Hang Seng Index and contain more industry leaders. And according to consistent expectations, the rate of return on net assets will be higher than 12% in 2020 and 2021, and the index will maintain a high growth.
Huitian Fuzhong Securities Shanghai, Hong Kong and Shenzhen 500ETF Investment value Analysis:
1. Huitian Fuzhong Stock Exchange Shanghai, Hong Kong and Shenzhen 500ETF Fund Code 517080, referred to as: Shanghai, Hong Kong and Shenzhen 500ETF Fund, which was listed on February 22, 2021, is the first Shanghai, Hong Kong and Shenzhen 500ETF to be established and listed. The fund closely tracks the performance of the underlying index and pursues the minimization of tracking deviation and tracking error. After its listing, it will further improve the passive index product layout of Huitianfu Fund.
2. Huitian Fuzhong Stock Exchange Shanghai, Hong Kong and Shenzhen 500ETF has the lowest management rate for similar funds in the market. The fund management rate is 0.15%, which is the lowest management rate for similar funds in the market. The average ETF management rate for equity is 0.43%, including the average ETF management rate for Hong Kong stocks.
3. Fund management company Huitianfu Fund Management Co., Ltd. has rich experience in passive product management.
At present, the fund manages a total of 25 passive index funds (excluding ETF linked funds), with a scale of 40.071 billion yuan by the fourth quarter of 2020. Its passive index products cover broad base, industry, theme and other categories.
Risk hint: this report makes an objective analysis of specific fund products and industry views from the perspective of historical statistics. When the fund investment strategy, market environment and policy tendency change, it can not guarantee the future continuity of statistical conclusions. This report does not constitute a recommendation for fund products.
