Onshore Chinese stocks rallied in Q2, as geopolitical anxieties gave way to greater optimism—along with falling energy prices—and AI exuberance continued to support stocks in the global hardware supply chain. Beneath the broad market gains, however, it was a ‘tale of two economies’, as optimism toward tech balanced out a less sanguine view of China’s domestic economy. In this article, Dr. Phillip Wool, Global Head of Research of Rayliant Global Advisors, discusses the macro and factor-level influences of China A share performance in Q2 2026, and given the diversified nature of China’s broad market, it offers a relatively attractive profile for investors in longer-term growth for not only hard tech but broader new economy growth opportunities.

Aug 07, 2026

The Fed's abrupt turn — from rate cuts at the start of the year to a looming hike — has caught many investors off guard. Longer-duration US Treasury strategies have slipped into the red since the war in Iran erupted, as the economy shifted from a supply-side, oil-driven inflation shock to broadening price pressures compounded by a slew of Trump administration policies since 2025. New Fed Chair Kevin Warsh's FOMC has struck a hawkish tone, stripping the market of any lingering hope for a continued easing path. Yet his task is far from straightforward: unlike 2022, this cycle would begin from an already elevated rate plateau rather than near zero — meaning considerable stress is arguably baked into the system before a single hike lands. In this article, we discuss why Floating Rate Notes (3077 / 9077 / 9078 HK) looks increasingly well-timed for investors seeking to derisk by harvesting an elevated, weekly-resetting coupon with effectively zero duration and collecting front-end carry, while longer-duration fixed-rate Treasuries continue to absorb losses at the long end.

Jun 30, 2026

China’s hard-tech sector is entering a new phase of structural growth, driven by AI adoption, semiconductor localization, and strong policy support. Domestic hard-tech leaders across semiconductors, optical networking, advanced manufacturing, and memory technologies have significantly outperformed broader Chinese and offshore equity markets year-to-date, while a new IPO wave led by ChangXin Memory Technologies (CXMT), Unitree Robotics, and other strategic technology champions are set to further enrich the STAR Market ecosystem. In this article, our Partner & Co-CIO David Lai discusses that our Premia China STAR50 ETF and Premia CSI Caixin China New Economy ETF offer targeted access to companies benefiting from China’s long-term technology and industrial transformation.

Jun 12, 2026

The complex macro picture has played squarely to the strengths of Premia's fixed income range, with every ETF in the lineup outperforming its mainstream investment grade (IG) and high-yield (HY) peers over the past six months. On the IG side, a constrained Fed pushing US long-end yields toward 5% makes a strong case to hold shorter duration bonds —while accommodative China liquidity and firm local demand underpinned Asia credit—drove the relative gains than the broader global IG universe. On the high-yield side, the Premia China USD Property Bond ETF significantly outperform the US and Asia HY peers along with the gradual recovery of China's property market, and has more than 660bps of spread still on offer for further compression toward the regional average. In this article, we explore how as this trend persists, the modular lineup offered by Premia's fixed income ETF range is increasingly turning today's fragmented macro environment into clear relative outperformance across both rating tiers.

Jun 12, 2026

Even if a peace deal is achieved soon, the writing is already on the wall for the US economy. Higher inflation and rates/yields appear inevitable. The double shocks of the Trump tariffs of 2025 and now the Iran War will exacerbate the inflation already working its way through the supply chain. In this article, our Senior Advisor Say Boon Lim discusses why as US equity valuations appear increasingly mispriced, with current multiples severely challenged by a rising discount rate, Asian emerging markets are gaining recognition as a resilient alternative. China's exit from deflation is emerging as a positive signal in particular, as improving earnings growth prospects and technological development could together present a compelling alpha opportunity.

May 21, 2026

As Iran conflicts closed off the Strait of Hormuz and sparked the ongoing oil price shock, global equity saw abrupt drawdown in Q1 as geopolitically anxious investors turned risk-off and quickly adjusted portfolios. Amidst that heightened volatility, contrary to broad market correction across both onshore and offshore Chinese equities, the Premia China Bedrock Economy strategy flourished, while the Premia China New Economy and Premia China STAR50 managed to get through the quarter nearly unscathed and remain well-positioned for policy tailwinds and hard tech structural growth as the 15th Five-Year Plan kickstarted. In this article, Dr. Phillip Wool, Global Head of Research of Rayliant Global Advisors, discusses about the macro and factor-level backdrop of China A share performance in Q1 2026, and drivers for continued optimism for onshore equities this year.

May 12, 2026

With US technology stocks under pressure from high valuations and risk-off sentiment from high beta trades amid heightened global market volatilities given geopolitical tensions, China advanced tech sector offers a well-supported and timely alternative for investors looking to diversify. The numbers speak for themselves: over the past two years, the hardcore technology focused STAR50 Index gained 77.3%, comfortably ahead of the Nasdaq's 40.2%. China has put innovation at the core of its long-term growth plan, with strong government backing for AI, semiconductors, and advanced manufacturing. Under Beijing’s domestic substitution policy, Chinese companies are rapidly replacing foreign technology with homegrown solutions, and earnings forecasts are being revised higher. In this article, our Partner & Co-CIO David Lai discusses the policy signals emerging from China's 15th Five-Year Plan and explores how investors can tap into these opportunities through our Premia China STAR50 (3151 / 9151 / 83151 HK) for focused exposure to China's leading hardcore technology companies, as well as our Premia China New Economy (3173 / 9173 HK) that provides broader coverage across nearly 300 holdings spanning the full new economy landscape.

Apr 08, 2026

Last December China launched a major national venture capital fund, a national guidance fund and three large regional funds (Beijing-Tianjin-Hebei, Yangtze River Delta, Greater Bay Area), all designed to channel billions of development capital into "hard technology" sectors like semiconductors, AI, and biomedicine to fast track its trajectory to overcome the current choke points and achieve technology independence amid persistent geopolitical tension. Meanwhile, Bloomberg reported that China is also considering a US$70 billion package of incentives to boost its semiconductor industry. These are only the latest in a string of boosters: China had already announced numerous measures over the past two years, estimated to value almost US$100billion, to lift capabilities in its chip sector. In this article, we reviewed China's ongoing efforts in the global chip race, and how under rapid acceleration in domestic substitution across cutting-edge logic chips, memory foundries, and AI models, our China New Economy (3173 / 9173 HK) and China STAR50 (3151 / 9151 / 83151 HK) strategies are uniquely positioned to capture these structural opportunities.

Apr 08, 2026

Despite last year’s pronounced rally in onshore Chinese stocks, the fourth quarter saw strong rotation from growth plays to a value theme, leading to divergence in the Bedrock and New Economy strategies over the final few months of the year. That said, we note all three of the Premia China ETFs showed marked outperformance over broad market, as investors continued to pivot to hardcore technology and strategic new economy sectors notwithstanding profit taking and risk-off sentiments towards the year end. In fact, under strong tailwinds such as domestic substitution policies, China’s economic engine is being reconfigured as many of these emerging leaders started to show fast tracked earnings growth and profitability. With this background, CSI Caixin Rayliant New Economic Engine Index (tracked by Premia China New Economy ETF - 3173 / 9173 HK ETFs) outperformed CSI300 solidly with total gain of 23.9% for full-year 2025, while China STAR50 index (tracked by Premia STAR50 ETF - 3151 / 9151 / 83151 HK ETFs) delivered even stronger full-year return of 36.5% notwithstanding the end of year profit taking. Meanwhile, as Low Risk, Value, Quality factors advanced in Q4, as a defensive strategy in risk off environment CSI Caixin Rayliant Bedrock Economy Index (tracked by Premia China Bedrock Economy ETF - 2803 / 9803 HK ETFs) outperformed the broader market with a gain of 4.9% for the quarter, bringing its full-year return to 12.6%. In this article, Dr. Phillip Wool, Global Head of Research of Rayliant Global Advisors, discussed the macro and factor-level influences, and provided a concise summary of contributors to China A share performance in Q4 2025 and possibly into 2026 as we kick start the first year of the 15th Five Year Plan.

Mar 16, 2026