Galaxy CSI Shanghai-Hong Kong-Shenzhen High Dividend Index A (LOF) Net Value Fell 1.11% Please stay tuned for 404 Not Found

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Financial Sector Funds October 27, 2019 Galaxy CSI Shanghai-Hong Kong-Shenzhen High Dividend Index A (LOF) Fund fell 2.01% on October 26, the current price of 1.046 yuan, the transaction of 0.03 million yuan. The fund's current OTC net value is 1.0262 yuan, down 1.11% from the previous trading day, and the on-exchange price premium rate is -0.12%.

The fund is a listed tradable stock fund, index fund, financial industry fund data show that in the past 1 month the net value of the fund fell by 4.90%, in the past 3 months the net value of the fund fell by 1.76%, in the past 6 months the net value of the fund fell by 5.10%, in the past 1 year the net value of the fund rose by 6.72%, since the establishment of the fund the cumulative net value of 1.0262 yuan.

Since its establishment, the Fund has paid dividends 0 times, with a cumulative dividend amount of 0 billion yuan. The fund is currently open for subscription.

The fund manager is Chen Bozhen, who has managed the fund since 26 June 2018 and has returned 6.70% during his tenure.

According to the latest fund periodic report, the fund holds heavy positions in Kibing Group (3.53%), China Resources Power (3.08%), Yanzhou Coal (3.03%), China Electric Power (2.60%), China Merchants Port (2.23%), SITC International (2.05%), Longbai Group (2.03%), Electric Energy Industry (1.60%), Sangang Minguang (1.54%), Xinyi Glass (1.51%) of the position.

Analysis of the Fund's investment strategy and operation during the reporting period

Macro environment and policy level: the domestic economy fell back from the high point, but the government is still swinging between the window period and stable growth, there is no significant measure, and the dual carbon policy has become a higher political requirement, restricting the two high production capacity and double control, making the PPI continue to rise. Looking forward to the end of the year, as the economy cannot withstand both upstream price upside and rapid decline in production capacity, we judge that the sporty carbon reduction policy may be corrected, the PPI is expected to fall back at a high point, and the liquidity and credit may be marginally loose, so there are more opportunities in the interest rate bond and equity markets. In the overseas macro part, the epidemic situation in major countries in the third quarter has been repeated, but the impact is different; developed countries have been less affected by the repeated epidemic, and the production side of emerging markets has been more affected. Demand in the United States is slowly declining, subsidies are gradually withdrawing, and employment is picking up. We judge that the US 10-year Treasury rate is basically upward (or above 1.7%), while the Fed will begin to reduce the size of its debt purchases from November, and it is possible to raise interest rates next year, and the overall overseas liquidity margin tightens.

Third Quarter Operation Review: The Fund's daily operations strictly copy the index according to the weights of the index sample stocks, with the minimization of tracking error as the control goal.

Performance of the Fund during the reporting period