Per reporter: Huang Xiaocong Per editor: He Jianling
Image source: Photo.com
This year, ETFs continue to maintain the momentum of expansion, both the number and scale of products have maintained substantial growth, ETF investment has become a public investment variety. But in the face of so many ETFs, is it an industry ETF or a broad-based ETF? For specific ETF investments, is it fast swing or long-term holding?
On the afternoon of October 19, Li Qian, fund manager of Huatai Berry Dividend ETF, was a guest of the daily economic news Weibo "Hao Ge's Afternoon Tea" live broadcast room, and exchanged views with netizens on the latest views of the market, how investors can invest in ETFs and other hot issues.
Li Qian, Fund Manager of Huatai Berry Dividend ETF (Image Source: Provided by Respondent)
<h2>Bonus ETFs can be attacked and defended</h2>
In the live broadcast, Li Qian first shared a set of data from dividend ETF investors, she said: "At the end of 2019, the holders of Huatai Berry dividend ETFs were 124,000 households, with a scale of 3.07 billion yuan. At the end of June this year, the number of holders increased to 770,000, and the scale exceeded 15 billion yuan, of which the proportion of individual investors reached 97%. ”
In fact, this is a microcosm of some popular ETF products in the past two years, and more and more investors have begun to choose ETFs for investment.
For the popularity of dividend ETFs, Li Qian believes that there are mainly the following reasons:
First, the investment attributes from the dividend ETF itself, especially in the context of the net worth of wealth management products and the gradual decline in risk-free yields, the advantages of dividend ETFs that integrate high dividend stocks are becoming increasingly significant.
Second, dividend ETFs have offensive attributes brought about by pro-cyclical industry distribution, especially in the recent market environment, the offensive attributes of the investment side have been released, bringing about an increase in scale.
At the same time, dividend ETFs also have certain defensive attributes. The data shows that in the market decline or shock market, the dividend index will have a better excess return. "For example, in the time frame of the decline in 2018, the CSI 300 fell by 23%, the CSI 500 fell by 30%, and the dividend fell by 13%, and there was a significant excess return relative to the market." Li Qian continued to share.
<h2>Cautiously optimistic about the A-share market</h2>
In addition, Li Qian also talked about some views on the market in the live broadcast, Li Qian said: "From the performance of the market, the market differentiation has been more serious this year, the CSI 300 has fallen by nearly 6%, the CSI 500 has risen by about 11%, and the Shanghai dividend has risen by about 15%. At the industry level, the middle and upper reaches of the resource products rose greatly, such as mining, steel, nonferrous metals, chemicals and so on. ”
Li Qian said: "We remain cautiously optimistic about the second half of the year until the beginning of next year. Monetary policy is expected to be relatively loose, in this context, you can adopt a defensive offensive strategy, balance the allocation of growth and value, may wish to pay more attention to pro-cyclical industries. We see that many pro-cyclical individual stocks are now rising more than commodity prices, which also reflects the strengthening of expectations of long-term supply shortages in high-energy-consuming industries in the context of double carbon. ”
Li Qian believes: "In our market view, we can use the dividend as an ETF as a bottom position, and then borrow the middle and upper reaches of the resource products to rise." ”
"In addition, the dividend index is currently in a relatively comfortable valuation position, and the dividend index is now about 5.5 times the price-earnings ratio, which is at a historically low level." Li Qian continued.
<h2>Fixed investment and long-term holding are better investment methods</h2>
In addition, with the increase of ETF products, the investment method of ETFs is also a common concern of investors.
In the live broadcast, Li Qian further shared the correct posture of investing in ETFs, in her opinion, "different investors adopt different strategies." Professional investors pay more attention to the trading properties of ETFs and its arbitrage mechanism, and they usually take swing trading, T+0 trading, and discount premium arbitrage. ”
"But for ordinary investors, especially those who do not have a deep understanding of the stock market, I recommend that it is still a long-term holding strategy, and fixed investment will be a better way to enter." According to historical statistics, since 2006, the annualized return of the Shanghai Securities Dividend Index has been in the range of 5% to 16% in any time period. This is also more in line with our positioning of this product. Li Qian further said.
(Source: Wind, as of 2021/10/19, the fund investment needs to be cautious)
The above fund manager's point of view only represents the analysis and judgment made by the fund manager in combination with the market conditions at the time of live broadcasting, and with the changes in market conditions and other factors, the fund manager's view will be adjusted according to the actual situation. The Manager undertakes to manage and use the assets of the Fund in good faith, diligence and responsibility, but does not guarantee that the Fund will be profitable or guarantee a minimum return. Investors should carefully read the fund legal documents such as fund contracts, prospectuses, fund product information summaries, etc. before investing in the fund, fully understand the details and risk-return characteristics of fund products, and make independent decisions on fund investment and select appropriate fund products on the basis of understanding the product situation and listening to the appropriate opinions of sales agencies, according to their own risk tolerance, investment period and investment objectives.
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