中國A股基石經濟

2803 (港元) | 9803 (美元)

# A股
# 智能貝塔
# 多因子
# 價值
# 低波動
# 規模
# 質量

中國A股新經濟

3173 (港元) | 9173 (美元)

# A股
# 新經濟
# 新基建
# 十四五
# 高質量增長
HKEX ETF Awards 2019_Top Performing ETF

亞洲創新科技

3181 (港元) | 9181 (美元)

# 智能電動車
# 人工智能
# 機器人
# 自動化
# 生命科學
# 5G
# 電子競技
# 半導體

新興東盟市場

2810 (港元) | 9810 (美元)

# 越南
# 泰國
# 馬來西亞
# 菲律賓
# 印尼

MSCI 越南市場

2804 (港元) | 9804 (美元)

# 供應鏈
# 中產階級
# 消費升級

美國國庫浮息票據 (分派)

3077 (港元) | 9077 (美元)

美國國庫浮息票據 (累計)

9078 (美元)

# 國庫券
# 一周存續期
# 稅務效率
# 費率0.15%

中國長久期政府債券NEW

2817 (港元) | 82817 (人民幣) | 9817(美元)

# 中國債券
# 長期
# 政府債券
# 人民幣
# 指數納入

中國房地產美元債NEW

3001 (港元) | 83001 (人民幣) | 9001(美元)

# 中國債券
# 高息債
# 美元
# 亞洲信用債

精選觀點
premia headline

A popular media narrative for the recent correction in Chinese equities was that it was caused by tightening of financial conditions in China.


Mar 31, 2021


Being the first-in-first-out, China has been the first one to reopen and recover from the pandemic last year. While the recovery has been uneven and is still underway going into 2021, in Q4 we observed sector and factor rotation started to kick in, with Value and LowRisk being the best performers toward the year end.


Mar 23, 2021


Economic policy settings between the United States and China – which have been diverging since the onset of the COVID-19 pandemic – are now on stark display as a result of the recent outcomes of the annual plenary session of the National People’s Congress.


Mar 18, 2021


The great divergence between economic growth in China versus the rest of the Emerging Markets post-COVID-19 has increased the likelihood of a parting of ways between China and EM in asset allocations.


Mar 9, 2021


US sanctions on trade, technology, and financial market access have done little to dampen foreign investor enthusiasm for China. There has been a surge in foreign investment flows, both portfolio and direct, into China over the course of 2020: All of which begs the questions “why” and “how sustainable is this”?


Feb 25, 2021


Little speculative manias are bubbling up to the surface in the US markets. But while financial instability is growing in the United States as a result of aggressive monetary expansion, a collapse in the equities market does not appear imminent given tame inflation and ultra-low rates and yields.


Feb 16, 2021

Premia 圖說
  • 賴子健 , CFA

    合夥人兼聯合首席投資官

Covid-19 and lockdowns would have resulted in surging defaults in the past 12 months, but it did not happen anywhere. Both US and European high yield bonds are even trading close to their record low yield level as investors are willing to chase potential higher return in a low-rate environment. The attractive yield spread offered by Asian borrowers including Chinese ones over their peers in the US and Europe seems unjustified given the strong economic recovery in Asia. The recent tumble of China high yield bonds triggered by Huarong’s failure to publish 2020 preliminary earnings by the end of March may provide a buy-on-dip window to accumulate quality issues. Alternatively, Premia China USD Property Bond ETF (3001.HK) could be a handy instrument, which invests in a diversified basket of bonds issued by China real estate firms offering a yield of 7%. It mitigates risks by (1) eliminating all local government financial vehicle issues; (2) applying 5% cap at issuer group level; (3) cutting off the long tail with an effective duration around 2 years; (4) selecting secured and senior unsecured issues only; and (5) removing any non-rated bonds.

Apr 15, 2021
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什麼是智能貝塔?

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