Recently, the new coronavirus broke out overseas, global stock markets adjusted sharply, and A-shares were under pressure. On March 12, the Shanghai Composite Index fell 1.52%, approaching 2,900 points again. In a volatile market, which assets have more anti-decline attributes? Leading companies and high dividend assets may be a good choice. Historically, leading companies with high dividend characteristics often become the "standard configuration" for smart investors in fluctuating markets, helping investors overcome the "difficulty".
Graham once pointed out in " Securities Analysis " that dividend returns are the most reliable part of the company's growth. As the A-share market further matures, dividend yield (the ratio between dividend and stock price) has become an important indicator to measure the investment value of listed companies.
As the economy enters the stage of stock game, the advantages of leading companies are gradually emerging. Advantages such as resource endowment and pricing power have made leading companies a weather vane for the future trends and trends of the industry. The determined growth space and stable revenue growth are reflected in stock price performance, and investors who allocate leading companies to a lot of benefits.
When high dividends meet leading companies, what kind of sparks will the two collide?
Recently, Penghuajia launched a new ETF product - Penghua CSI High Dividend Leader ETF (fund abbreviation: Dividend Leader, subscription code: 515693), which will end on March 13. Friends who are interested in high dividend leaders must not miss it~
CSI High Dividend Leader Index has obvious excess returns
welcomes interest rate downward again
As a special index fund, how should ETFs be selected? There are two main indicators - the index tracked and the fund manager behind it: the index tracked by the ETF roughly determines the investment target and return performance of the product, and an excellent fund manager can ensure the limited tracking error of the ETF product.
Take Penghua CSI high dividend leader ETF as an example. It adopts the passive index investment method, and invests in the CSI high dividend leader ETF with no less than 90% of the net asset value of the fund in the CSI high dividend leader component and its alternative components. The CSI High Dividend Leading Index selects a certain number of leading listed companies with good liquidity, stable performance and high dividend yield from the Shanghai and Shenzhen stock markets as the sample stock of index . Compared with other dividend indexes, the market value of CSI High Dividend Leading ETF components is relatively large and has better liquidity.
Data source: Wind
In terms of industry distribution, Penghua CSI's high dividend leading ETF components are mainly concentrated in the fields of finance, consumption, resources, etc. The characteristics of high profit levels, stable dividend rates and high dividend yields also ensure the excellent historical performance of the index. Compared with other mainstream dividend indexes and the Shanghai and Shenzhen 300 index, the excess returns are obvious.
Data source: Wind China Merchants Securities believes that from a medium- and long-term perspective, although the current domestic 10-year treasury bond yield has been at a historical low, the interest rate gap between China and the United States has expanded to a historical high, and it will still face further downward pressure in the short term in the future. The investment value of high dividend-rate assets in a low interest rate environment is outstanding. In the short term, low-valuation and high-dividend stocks have better defense capabilities in the downward risk preference, and are preferred by long-term investors such as pensions and pension insurance funds.
CICC report stated that the high dividend strategy is another stable return choice in addition to the "pure domestic demand" strategy, and steady growth + high dividend is a medium- and long-term feasible allocation strategy in a low interest rate environment.
plays its advantages and makes forward-looking layout, and focuses on the theme ETF field
In addition to paying attention to products, the strength of the manager behind it is also very important. In fact, Penghua Fund, as a 21-year-old public fund, has long been forward-looking in ETF products. In particular, the "leading" series of ETF products launched by Penghua Fund have adapted to the development trend of the industry and received unanimous praise from investors. The Penghua CSI high dividend leader ETF that is being issued is also a member of Penghua's "leading" series ETF products.
In 2019, Penghua Fund made efforts in the field of theme industry ETFs and successively launched Penghua CSI Liquor ETF, Penghua CSI National Defense ETF, Penghua CSI Bank ETF, Penghua Leading Brokerage ETF and other products. Among them, wine ETF and national defense ETF are both the only ETFs that track relevant target indexes (CSI Liquor Index, CSI National Defense Index), and have become scarce varieties in the market.
In 2020, in the face of different needs of investors, Penghua Fund successively launched Penghua CSI Media ETF and Penghua CSI high dividend leader ETF. The product line in the subdivided ETF field has been gradually improved and has begun to take shape. Looking at Penghua’s product layout in segmented ETFs, we can find that it is not blindly pursuing the current market speculation hotspots, but focusing more on providing the market with precise tools that can explore long-term logic and meet diversified investment strategies.
Penghua has newly issued ETF products in the past year
(Data source: wind, as of March 6, 2020)
ASHARE index fund brand
targeting the most comprehensive multi-index fund supplier in China
Index fund has developed greatly in recent years, and leading fund companies have taken the lead. In recent years, they have made large-scale layouts in index fund products. Penghua Fund is one of them.
In June 2019, in order to adapt to the great opportunities of the era of index investment and serve investors more targetedly, Penghua Fund officially launched the ASHARE Index Fund brand, covering all its passive index funds, aiming to build a cross-market (Shanghai, Shenzhen and Hong Kong) diversified index product platform to provide investors with diversified choices of passive investment tools.
At present, Penghua Fund ASHARE index fund brand has covered index fund products with diverse sub-categories, such as wide-base, industry, theme, bond, etc., and has rich varieties. It not only has mainstream broad-base index products such as Shanghai and Shenzhen 300, CSI 500, and ChiNext, but also has sub-industry ETFs and other ETFs. In addition, it also has cross-market varieties of Hong Kong banks and small and medium-sized enterprises.
A scholar sets his ambitions, but if he does not set his ambitions, he will not succeed. As early as the beginning of its establishment, Penghua Fund had set ambitious development goals for its ASHARE brand - benchmarking against the iShares brand, a leader in global index funds and a giant in asset management industry , BlackRock . Today, the scale of ETF products managed by the iShares brand has exceeded US$1.3 trillion, and it enjoys the American reputation of "only one iShares account to invest in the world" due to its broad index coverage.
Penghua Fund will strive to learn from the world's leading index investment expert BlackRock iShares brand, establish a complete passive index product line in equity, fixed income and cross-market fields, and strive to become the most complete supplier of diversified index funds in my country. In the future, more index tools that can meet diversified investment needs will be continuously launched to serve domestic investors.
(reprinted from "King of ETFs")
Risk Reveal: This fund does not guarantee capital and may suffer losses. The China Securities Regulatory Commission’s registration of this fund fund does not indicate that it has made substantial judgments or guarantees on the value and returns of this fund, nor does it indicate that there is no risk in investing in this fund. The fund manager promises to manage and use fund assets with the principles of honesty, trustworthiness, diligence and conscientiousness, but does not guarantee the fund's profits or the minimum return. When purchasing a fund, investors should read the fund contract and prospectus of this fund in detail to understand the specific situation of this fund. The performance of other funds managed by the fund manager and the past performance achieved by their investment personnel do not indicate their future performance, nor does it constitute a guarantee of the performance of this fund. Fund investments should be cautious.
