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Jerry__0341
2021-06-16
思聪舔狗
万达轻资产商管筹备香港IPO,融资规模或达30亿美元
Jerry__0341
2021-05-07
这届总干事是肥差
抱歉,原内容已删除
Jerry__0341
2021-04-26
星链计划触碰了高层底线,特斯拉必死,死后献祭给华为造车铺路!但是特斯拉依然会走向世界!因为马斯克是人类之光!
抱歉,原内容已删除
Jerry__0341
2021-03-12
还在推港基?不是坏,就是蠢
另辟蹊径,暴跌之后如何上车优质港股?
Jerry__0341
2021-03-08
港牛已死!
抱歉,原内容已删除
Jerry__0341
2021-02-01
不一定是好事,暴风雨前的狂欢。也是水面上最后的稻草!
抱歉,原内容已删除
Jerry__0341
2021-01-21
目前还不会收割!
南向资金今日继续流入,净流入达100亿元
去老虎APP查看更多动态
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12:33","market":"hk","language":"zh","title":"万达轻资产商管筹备香港IPO,融资规模或达30亿美元","url":"https://stock-news.laohu8.com/highlight/detail?id=1184539224","media":"老虎资讯综合","summary":"据知情人士透露,大连万达集团的商业地产管理子公司已开始筹备香港首次公开募股事宜,可能融资约30亿美元。\n知情人士称,中信证券、高盛集团和摩根大通正在与万达轻资产商管公司合作筹备首次股票发行交易。发行交","content":"<p>据知情人士透露,大连万达集团的商业地产管理子公司已开始筹备香港首次公开募股事宜,可能融资约30亿美元。</p>\n<p>知情人士称,<a href=\"https://laohu8.com/S/600030\">中信证券</a>、<a href=\"https://laohu8.com/S/GS\">高盛</a>集团和<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>正在与万达轻资产商管公司合作筹备首次股票发行交易。发行交易可能最早今年进行。万达商业在3月份公告称撤回A股IPO申请,并称决定对公司从事轻资产商业运营等相关资源进行重组,以尽快实现境内外上市。</p>\n<p>知情人士说,商议还在进行,可能会有更多银行加入。</p>\n<p><a href=\"https://laohu8.com/S/06030\">中信证券</a>、高盛和摩根大通的代表不予置评,万达的代表没有立即回应置评请求。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta 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class=\"h-time\">2021-06-16 12:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>据知情人士透露,大连万达集团的商业地产管理子公司已开始筹备香港首次公开募股事宜,可能融资约30亿美元。</p>\n<p>知情人士称,<a href=\"https://laohu8.com/S/600030\">中信证券</a>、<a href=\"https://laohu8.com/S/GS\">高盛</a>集团和<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>正在与万达轻资产商管公司合作筹备首次股票发行交易。发行交易可能最早今年进行。万达商业在3月份公告称撤回A股IPO申请,并称决定对公司从事轻资产商业运营等相关资源进行重组,以尽快实现境内外上市。</p>\n<p>知情人士说,商议还在进行,可能会有更多银行加入。</p>\n<p><a href=\"https://laohu8.com/S/06030\">中信证券</a>、高盛和摩根大通的代表不予置评,万达的代表没有立即回应置评请求。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/57203de962e3202c13deb5da471da832","relate_stocks":{"JPM":"摩根大通","WSG":"万达体育","GS":"高盛"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184539224","content_text":"据知情人士透露,大连万达集团的商业地产管理子公司已开始筹备香港首次公开募股事宜,可能融资约30亿美元。\n知情人士称,中信证券、高盛集团和摩根大通正在与万达轻资产商管公司合作筹备首次股票发行交易。发行交易可能最早今年进行。万达商业在3月份公告称撤回A股IPO申请,并称决定对公司从事轻资产商业运营等相关资源进行重组,以尽快实现境内外上市。\n知情人士说,商议还在进行,可能会有更多银行加入。\n中信证券、高盛和摩根大通的代表不予置评,万达的代表没有立即回应置评请求。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":104404124,"gmtCreate":1620401237668,"gmtModify":1620401237668,"author":{"id":"3573144743000051","authorId":"3573144743000051","name":"Jerry__0341","avatar":"https://static.tigerbbs.com/421597e03b9d2a886339474d9b132ab8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573144743000051","authorIdStr":"3573144743000051"},"themes":[],"htmlText":"这届总干事是肥差","listText":"这届总干事是肥差","text":"这届总干事是肥差","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/104404124","repostId":"1141722670","repostType":4,"isVote":1,"tweetType":1,"viewCount":1746,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":374219334,"gmtCreate":1619447881228,"gmtModify":1619447881228,"author":{"id":"3573144743000051","authorId":"3573144743000051","name":"Jerry__0341","avatar":"https://static.tigerbbs.com/421597e03b9d2a886339474d9b132ab8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573144743000051","authorIdStr":"3573144743000051"},"themes":[],"htmlText":"星链计划触碰了高层底线,特斯拉必死,死后献祭给华为造车铺路!但是特斯拉依然会走向世界!因为马斯克是人类之光!","listText":"星链计划触碰了高层底线,特斯拉必死,死后献祭给华为造车铺路!但是特斯拉依然会走向世界!因为马斯克是人类之光!","text":"星链计划触碰了高层底线,特斯拉必死,死后献祭给华为造车铺路!但是特斯拉依然会走向世界!因为马斯克是人类之光!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/374219334","repostId":"1188284210","repostType":4,"isVote":1,"tweetType":1,"viewCount":2097,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":328655803,"gmtCreate":1615523660802,"gmtModify":1703490405973,"author":{"id":"3573144743000051","authorId":"3573144743000051","name":"Jerry__0341","avatar":"https://static.tigerbbs.com/421597e03b9d2a886339474d9b132ab8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573144743000051","authorIdStr":"3573144743000051"},"themes":[],"htmlText":"还在推港基?不是坏,就是蠢","listText":"还在推港基?不是坏,就是蠢","text":"还在推港基?不是坏,就是蠢","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328655803","repostId":"1117959589","repostType":4,"repost":{"id":"1117959589","kind":"news","pubTimestamp":1615520280,"share":"https://www.laohu8.com/m/news/1117959589?lang=&edition=full","pubTime":"2021-03-12 11:38","market":"hk","language":"zh","title":"另辟蹊径,暴跌之后如何上车优质港股?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117959589","media":"远川投资评论","summary":"如何配置港股优质资产?今年以来,越来越多的南下资金开始源源不断流入配置港股优质资产。随着腾讯、美团等公司创出新高,恒生科技指数从年初的8425点上涨至11000点,短短1个半月,涨幅超过30%。正当港","content":"<blockquote>如何配置港股优质资产?</blockquote><p>今年以来,越来越多的南下资金开始源源不断流入配置港股优质资产。随着<a href=\"https://laohu8.com/S/00700\">腾讯</a>、美团等公司创出新高,恒生科技指数从年初的8425点上涨至11000点,短短1个半月,涨幅超过30%。</p><p>正当港股气势如虹之时,一则突如其来的利空打破了这一趋势。</p><p>2月24号,港股公布增加印花税,不久,香港财政司司长陈茂波表示,未来不排除进一步增加印花税的可能。在这样的利空下,港股出现了一波明显的回调,恒生科技指数从11000点又跌回了年初的8000点附近。</p><p>这样的大跌是不是配置优质港股资产的一种机会?</p><p>港股里存在着一些A股不具备的优质资产,代表了国内未来新经济的发展,在这些公司长期基本面没有发生变化的时刻,短期市场剧烈的波动给普通人提供了再次上车的机会。</p><p>工欲善其事必先利其器,我们在此为各位提供一份配置港股的基金清单,助力各位更好的配置优质港股资产。</p><p>本文为大家梳理可投港股的基金,包括:</p><blockquote>1. QDII基金。2. 沪港深主题基金。3. A+H股两地投资的主动权益产品(非沪港深基金)。</blockquote><p>下面进入正文部分:</p><p><b>指数类QDII基金:仓位集中,聚焦核心资产</b></p><p>在QDII基金中,首先是最为纯粹的指数基金。当前市场上投资港股的指数基金主要有:恒生、H股、中概互联、香港中小ETF。</p><p><img src=\"https://static.tigerbbs.com/fca24950bc51c2808dc17254097746b2\" tg-width=\"1080\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p><p>从过去两年的收益来看,中概互联的表现远好于其他三个品种,原因在于它跟踪是中国互联网指数,其成分股以海外上市的国内互联网头部企业为主。除了港股上市的<a href=\"https://laohu8.com/S/00700\">腾讯</a>、美团、阿里,还包括一些在美股上市的潜力新星,比如:<a href=\"https://laohu8.com/S/PDD\">拼多多</a>、<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>。在占据了“港股”+“美股”两条国内互联网企业的赛道后,行情走势上,表现出极大的弹性。</p><p>相比之下,恒生和H股ETF在过去两年的涨幅表现并不是很好。他们跟踪的是恒生指数和<a href=\"https://laohu8.com/S/02828\">恒生中国企业</a>指数。这两者都属于宽基指数,持股数量较多,行业配置更为分散。但前者是属于香港本地上市的企业,后者则是因为同时在A股和港股上市,因而指数编制上和A股的上证50指数比较类似。</p><p>从前十大重仓股的情况来看,两者有一定差别。恒生还会持有一部分香港的金融股,比如:港交所、<a href=\"https://laohu8.com/S/HSBC\">汇丰</a>、<a href=\"https://laohu8.com/S/01299\">友邦保险</a>,H股ETF持有更多的中国大陆公司的股票,这些公司港股的估值相比A股会打一定的“折扣”,行情表现的上也会落于相关的A股指数。所以,如果是以配置港股为目的,恒生ETF会优于H股ETF。</p><p><img src=\"https://static.tigerbbs.com/20d68f403fcfebe374415cae681a8e06\" tg-width=\"669\" tg-height=\"295\" referrerpolicy=\"no-referrer\"></p><p>最后是香港中小盘,它跟踪的指数是标普香港上市中国中小盘,成分股共125个。相比恒生、H股ETF,持仓更为分散,成份股的市值平均在300亿港币左右。其中有不少国内细分行业的领军企业,比如蒙牛、吉利、安踏等公司,他们在过去成长性良好,且仅在港股上市。因此,该指数兼备“成长”和“稀缺”属性。</p><p><img src=\"https://static.tigerbbs.com/3c081ad035c42da67edb1021bcd42e85\" tg-width=\"1080\" tg-height=\"562\" referrerpolicy=\"no-referrer\"></p><p><b>总结一下,如果是纯粹想要在未来抄底港股,均衡配置两地的“核心资产”,则可以选择恒生ETF;而香港中小盘适合那些喜欢配置内地细分领域成长股的朋友;如果想要追求更高的收益弹性,则可以通过中概互联,配置国内优秀的互联网公司。</b></p><p><b>精选“潜力股”:主动类QDII基金</b></p><p>在说完了被动跟踪指数的港股QDII类基金后,我们来看国内的主动QDII类基金。</p><p><img src=\"https://static.tigerbbs.com/3f409eac0235e41f4e212f1ace1b18b4\" tg-width=\"1080\" tg-height=\"378\" referrerpolicy=\"no-referrer\"></p><p>当前距离首批公募QDII主动型基金出海已经14年,但运气欠佳,出海次年金融危机爆发,全球股市进入暴跌模式,最初的这批QDII基金惨遭“血洗”。经过十余年的艰难挣扎,首批QDII基金已经全部“回本”。</p><p>十余年来,QDII基金逐渐获得投资者认可,在海外资产配置中占据重要位置。</p><p>近期,不少港股方向的QDII基金业绩表现不俗,比如张峰管理的富国中国中小盘和余昊管理的广发全球精选,两只基金运作了都有十年的时间,复合年化收益高达20%,远远跑赢恒生指数。</p><p>张峰深耕于港股市场近20年,在香港买卖方圈里被亲切地称为“老大哥”,资历深厚,经验丰富。他认为,港股是个很好的投资方向,<b>未来会有越来越多的优质公司到香港上市</b>,既包括从美国回归的中概股,也有从内地选择到香港上市的生物制药、新型消费类公司,为投资者提供了丰富的选择;与此同时,<b>大量南下机构资金持续进入港股市场,寻找买入好公司,港股的奖优机制也将会逐渐凸显[1]。</b></p><p>而余昊也在近期一次访谈中从多角度的逻辑出发,提出了类似的观点:</p><p><b>从国内来看</b>,2021年大概率是经济向好、货币收紧的趋势,港股有望提升估值,取得不错的表现;</p><p><b>从国际来看</b>,当美国经济不好、宽松周期的时候,弱美元之下港股会有比较好的表现;</p><p><b>从供给端来看</b>,阿里、腾讯、美团等新经济公司相继在香港上市,可以优化市场的长期投资环境;</p><p><b>从需求端来看</b>,从港股通持续流入的南下资金,一直在给港股提升估值[2]。</p><p>值得一提的是,今年的“顶流”基金经理张坤旗下也有一只港股方向的QDII主动型基金,从其2014年接管起计算,七年来复合年化收益为12%,相比他管理的两只热门基金还是逊色了许多。</p><p>总之,如果看好基金经理挖掘优质港股的能力,可以选择主动QDII基金。</p><p><b>沪港深基金</b></p><p>可投港股的基金还包括<b>沪港深通基金</b>。与QDII基金相比,这类基金的区别主要如下:</p><p><img src=\"https://static.tigerbbs.com/913d58245ecde9de5fd05b4e94195805\" tg-width=\"947\" tg-height=\"453\" referrerpolicy=\"no-referrer\"></p><p>实际上,沪港深基金可以看作是一个主题基金,与消费主题基金、医药主题基金类似。从现有的产品来看,持有纯港股的基金只有少数,大多数是A股、H股都会配置。</p><p><img src=\"https://static.tigerbbs.com/8927c41f97272c194bfea152eae81e40\" tg-width=\"1080\" tg-height=\"407\" referrerpolicy=\"no-referrer\"></p><p>比如李耀柱的广发沪港深新起点和“港股一哥”汪孟海的富国沪港深行业精选,港股仓位都非常高,年化收益分别达到了25%和30%,远远跑赢同期港股指数。</p><p>对于广发基金经理李耀柱来说,国际化的研究视野、扎实的基本面研究,是这位成长股选手独有的特色。长达十年深耕海外市场,让李耀柱擅长在长期向好的赛道中选择市场空间大、竞争壁垒强、组织管理先进的优秀成长企业。</p><p>站在当前时点,李耀柱也非常看好港股优秀公司的中长期投资价值。他认为,<b>港股市场未来的投资机会主要集中在中国的新经济行业</b>,以互联网科技、创新药、医疗服务、新消费等公司为主,<b>低估值板块建材、地产、保险中,盈利质量改善的龙头公司,也会有盈利改善和估值修复的投资机会[3]。</b></p><p>而被富国基金冠名“港股一哥”的汪孟海则同时拥有着保险资管和公募投资的经验,受过去保险资管的影响,他在投资风格上偏稳健,比较注重波动和回撤的风险管理,最大回撤控制得十分优秀,做到了和优秀企业成长的理念。</p><p>展望2021,汪孟海对港股也表现得更为乐观,他表示,当下疫情对市场带来的调整中,欧美影响较大跌幅较多,A股受影响较小跌幅最少,香港市场则介于A股和欧美市场之间。<b>等风险偏好改善,外资回流之后,港股的弹性或将比A股更高[4]。</b></p><p>总之,如果想要追求更灵活的配置,在沪深港通标的里布局港股的同时,又能灵活配置一部分A股,则可以选择沪深港通基金。</p><p><b>非沪港深基金</b></p><p>最后,还有一些非沪港深基金也能配置一部分沪深港通范围内的港股,它们的港股仓位一般不超过50%。</p><p><img src=\"https://static.tigerbbs.com/243bb76880dc0c792be146f70f65a69d\" tg-width=\"1080\" tg-height=\"380\" referrerpolicy=\"no-referrer\"></p><p>从去年四季度持仓来看,张坤、杨瑨、周蔚文持有的港股仓位都在40%-50%上下。明星基金经理,过去受制于产品投资标的的限制,只能配置A股的公司,而最近几年陆续发布的新产品中,弥补了这一大遗憾。</p><p>以张坤为例,其代表作易方达中小盘只能配置A股标的,而在2018年9月发行的易方达蓝筹精选,可以配置沪港深范围内的一些港股标的,这让他可以选择更多商业模式好的公司,来配置资金和仓位,并且也能够容纳更多投资者的资金。从规模上来看,易方达蓝筹精选的规模体量也是中小盘混合的2倍之多。</p><p>所以,如果你看好某个基金经理的投资能力,不妨选择他能投资沪港深标的产品,这样可以更全面的配置A股、港股的好资产,长期获得更好的超额收益。</p><p><b>总结</b></p><p>在国内优质公司不断回归港股上市的背景下,未来港股的好公司一定会越来越多。国海富兰克林QDII总监徐成在研判港股市场机会时强调,在未来,伴随港股市场迎来更多新经济优质标的上市,以及南向资金的加速涌入,港股市场或将站上新高度,港股投资性价比仍在持续提升。</p><p>为此,我们给大家整理了一份优质港股基金名单供参考。</p><p><img src=\"https://static.tigerbbs.com/d2bf6dc59b1aa62754d53a3f4aca9192\" tg-width=\"1037\" tg-height=\"418\" referrerpolicy=\"no-referrer\"></p><p>普通投资者只有在当下做好充足准备,研究清楚这类基金的特点,才能在未来及时上车优质的“核心资产”,享受时代发展向上的浪潮。</p><p>参考资料:</p><p>[1] “港股一叔”张峰表态,投资近20年,现在信心特别强!</p><p>[2] 广发基金余昊的QDII十年:投资是一个自我优化的过程</p><p>[3] 广发基金李耀柱:港股投资机会集中在新经济行业</p><p>[4] “港股一哥”汪孟海:稀缺的港股和A股融合的价值选手</p>","source":"lsy1583835599575","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n另辟蹊径,暴跌之后如何上车优质港股?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-12 11:38 北京时间 <a href=https://mp.weixin.qq.com/s/wGQLYLDqKHZ4UXkp2AluzQ><strong>远川投资评论</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>如何配置港股优质资产?今年以来,越来越多的南下资金开始源源不断流入配置港股优质资产。随着腾讯、美团等公司创出新高,恒生科技指数从年初的8425点上涨至11000点,短短1个半月,涨幅超过30%。正当港股气势如虹之时,一则突如其来的利空打破了这一趋势。2月24号,港股公布增加印花税,不久,香港财政司司长陈茂波表示,未来不排除进一步增加印花税的可能。在这样的利空下,港股出现了一波明显的回调,...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/wGQLYLDqKHZ4UXkp2AluzQ\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c1cb237e736a4e03c939622e7b71e8e7","relate_stocks":{"HSCCI":"红筹指数","HSI":"恒生指数","HSCEI":"国企指数"},"source_url":"https://mp.weixin.qq.com/s/wGQLYLDqKHZ4UXkp2AluzQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117959589","content_text":"如何配置港股优质资产?今年以来,越来越多的南下资金开始源源不断流入配置港股优质资产。随着腾讯、美团等公司创出新高,恒生科技指数从年初的8425点上涨至11000点,短短1个半月,涨幅超过30%。正当港股气势如虹之时,一则突如其来的利空打破了这一趋势。2月24号,港股公布增加印花税,不久,香港财政司司长陈茂波表示,未来不排除进一步增加印花税的可能。在这样的利空下,港股出现了一波明显的回调,恒生科技指数从11000点又跌回了年初的8000点附近。这样的大跌是不是配置优质港股资产的一种机会?港股里存在着一些A股不具备的优质资产,代表了国内未来新经济的发展,在这些公司长期基本面没有发生变化的时刻,短期市场剧烈的波动给普通人提供了再次上车的机会。工欲善其事必先利其器,我们在此为各位提供一份配置港股的基金清单,助力各位更好的配置优质港股资产。本文为大家梳理可投港股的基金,包括:1. QDII基金。2. 沪港深主题基金。3. A+H股两地投资的主动权益产品(非沪港深基金)。下面进入正文部分:指数类QDII基金:仓位集中,聚焦核心资产在QDII基金中,首先是最为纯粹的指数基金。当前市场上投资港股的指数基金主要有:恒生、H股、中概互联、香港中小ETF。从过去两年的收益来看,中概互联的表现远好于其他三个品种,原因在于它跟踪是中国互联网指数,其成分股以海外上市的国内互联网头部企业为主。除了港股上市的腾讯、美团、阿里,还包括一些在美股上市的潜力新星,比如:拼多多、哔哩哔哩。在占据了“港股”+“美股”两条国内互联网企业的赛道后,行情走势上,表现出极大的弹性。相比之下,恒生和H股ETF在过去两年的涨幅表现并不是很好。他们跟踪的是恒生指数和恒生中国企业指数。这两者都属于宽基指数,持股数量较多,行业配置更为分散。但前者是属于香港本地上市的企业,后者则是因为同时在A股和港股上市,因而指数编制上和A股的上证50指数比较类似。从前十大重仓股的情况来看,两者有一定差别。恒生还会持有一部分香港的金融股,比如:港交所、汇丰、友邦保险,H股ETF持有更多的中国大陆公司的股票,这些公司港股的估值相比A股会打一定的“折扣”,行情表现的上也会落于相关的A股指数。所以,如果是以配置港股为目的,恒生ETF会优于H股ETF。最后是香港中小盘,它跟踪的指数是标普香港上市中国中小盘,成分股共125个。相比恒生、H股ETF,持仓更为分散,成份股的市值平均在300亿港币左右。其中有不少国内细分行业的领军企业,比如蒙牛、吉利、安踏等公司,他们在过去成长性良好,且仅在港股上市。因此,该指数兼备“成长”和“稀缺”属性。总结一下,如果是纯粹想要在未来抄底港股,均衡配置两地的“核心资产”,则可以选择恒生ETF;而香港中小盘适合那些喜欢配置内地细分领域成长股的朋友;如果想要追求更高的收益弹性,则可以通过中概互联,配置国内优秀的互联网公司。精选“潜力股”:主动类QDII基金在说完了被动跟踪指数的港股QDII类基金后,我们来看国内的主动QDII类基金。当前距离首批公募QDII主动型基金出海已经14年,但运气欠佳,出海次年金融危机爆发,全球股市进入暴跌模式,最初的这批QDII基金惨遭“血洗”。经过十余年的艰难挣扎,首批QDII基金已经全部“回本”。十余年来,QDII基金逐渐获得投资者认可,在海外资产配置中占据重要位置。近期,不少港股方向的QDII基金业绩表现不俗,比如张峰管理的富国中国中小盘和余昊管理的广发全球精选,两只基金运作了都有十年的时间,复合年化收益高达20%,远远跑赢恒生指数。张峰深耕于港股市场近20年,在香港买卖方圈里被亲切地称为“老大哥”,资历深厚,经验丰富。他认为,港股是个很好的投资方向,未来会有越来越多的优质公司到香港上市,既包括从美国回归的中概股,也有从内地选择到香港上市的生物制药、新型消费类公司,为投资者提供了丰富的选择;与此同时,大量南下机构资金持续进入港股市场,寻找买入好公司,港股的奖优机制也将会逐渐凸显[1]。而余昊也在近期一次访谈中从多角度的逻辑出发,提出了类似的观点:从国内来看,2021年大概率是经济向好、货币收紧的趋势,港股有望提升估值,取得不错的表现;从国际来看,当美国经济不好、宽松周期的时候,弱美元之下港股会有比较好的表现;从供给端来看,阿里、腾讯、美团等新经济公司相继在香港上市,可以优化市场的长期投资环境;从需求端来看,从港股通持续流入的南下资金,一直在给港股提升估值[2]。值得一提的是,今年的“顶流”基金经理张坤旗下也有一只港股方向的QDII主动型基金,从其2014年接管起计算,七年来复合年化收益为12%,相比他管理的两只热门基金还是逊色了许多。总之,如果看好基金经理挖掘优质港股的能力,可以选择主动QDII基金。沪港深基金可投港股的基金还包括沪港深通基金。与QDII基金相比,这类基金的区别主要如下:实际上,沪港深基金可以看作是一个主题基金,与消费主题基金、医药主题基金类似。从现有的产品来看,持有纯港股的基金只有少数,大多数是A股、H股都会配置。比如李耀柱的广发沪港深新起点和“港股一哥”汪孟海的富国沪港深行业精选,港股仓位都非常高,年化收益分别达到了25%和30%,远远跑赢同期港股指数。对于广发基金经理李耀柱来说,国际化的研究视野、扎实的基本面研究,是这位成长股选手独有的特色。长达十年深耕海外市场,让李耀柱擅长在长期向好的赛道中选择市场空间大、竞争壁垒强、组织管理先进的优秀成长企业。站在当前时点,李耀柱也非常看好港股优秀公司的中长期投资价值。他认为,港股市场未来的投资机会主要集中在中国的新经济行业,以互联网科技、创新药、医疗服务、新消费等公司为主,低估值板块建材、地产、保险中,盈利质量改善的龙头公司,也会有盈利改善和估值修复的投资机会[3]。而被富国基金冠名“港股一哥”的汪孟海则同时拥有着保险资管和公募投资的经验,受过去保险资管的影响,他在投资风格上偏稳健,比较注重波动和回撤的风险管理,最大回撤控制得十分优秀,做到了和优秀企业成长的理念。展望2021,汪孟海对港股也表现得更为乐观,他表示,当下疫情对市场带来的调整中,欧美影响较大跌幅较多,A股受影响较小跌幅最少,香港市场则介于A股和欧美市场之间。等风险偏好改善,外资回流之后,港股的弹性或将比A股更高[4]。总之,如果想要追求更灵活的配置,在沪深港通标的里布局港股的同时,又能灵活配置一部分A股,则可以选择沪深港通基金。非沪港深基金最后,还有一些非沪港深基金也能配置一部分沪深港通范围内的港股,它们的港股仓位一般不超过50%。从去年四季度持仓来看,张坤、杨瑨、周蔚文持有的港股仓位都在40%-50%上下。明星基金经理,过去受制于产品投资标的的限制,只能配置A股的公司,而最近几年陆续发布的新产品中,弥补了这一大遗憾。以张坤为例,其代表作易方达中小盘只能配置A股标的,而在2018年9月发行的易方达蓝筹精选,可以配置沪港深范围内的一些港股标的,这让他可以选择更多商业模式好的公司,来配置资金和仓位,并且也能够容纳更多投资者的资金。从规模上来看,易方达蓝筹精选的规模体量也是中小盘混合的2倍之多。所以,如果你看好某个基金经理的投资能力,不妨选择他能投资沪港深标的产品,这样可以更全面的配置A股、港股的好资产,长期获得更好的超额收益。总结在国内优质公司不断回归港股上市的背景下,未来港股的好公司一定会越来越多。国海富兰克林QDII总监徐成在研判港股市场机会时强调,在未来,伴随港股市场迎来更多新经济优质标的上市,以及南向资金的加速涌入,港股市场或将站上新高度,港股投资性价比仍在持续提升。为此,我们给大家整理了一份优质港股基金名单供参考。普通投资者只有在当下做好充足准备,研究清楚这类基金的特点,才能在未来及时上车优质的“核心资产”,享受时代发展向上的浪潮。参考资料:[1] “港股一叔”张峰表态,投资近20年,现在信心特别强![2] 广发基金余昊的QDII十年:投资是一个自我优化的过程[3] 广发基金李耀柱:港股投资机会集中在新经济行业[4] “港股一哥”汪孟海:稀缺的港股和A股融合的价值选手","news_type":1},"isVote":1,"tweetType":1,"viewCount":1306,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":320428317,"gmtCreate":1615169493939,"gmtModify":1703485129442,"author":{"id":"3573144743000051","authorId":"3573144743000051","name":"Jerry__0341","avatar":"https://static.tigerbbs.com/421597e03b9d2a886339474d9b132ab8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573144743000051","authorIdStr":"3573144743000051"},"themes":[],"htmlText":"港牛已死!","listText":"港牛已死!","text":"港牛已死!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/320428317","repostId":"1124790049","repostType":2,"isVote":1,"tweetType":1,"viewCount":1305,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":312226678,"gmtCreate":1612155810994,"gmtModify":1703758026271,"author":{"id":"3573144743000051","authorId":"3573144743000051","name":"Jerry__0341","avatar":"https://static.tigerbbs.com/421597e03b9d2a886339474d9b132ab8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573144743000051","authorIdStr":"3573144743000051"},"themes":[],"htmlText":"不一定是好事,暴风雨前的狂欢。也是水面上最后的稻草!","listText":"不一定是好事,暴风雨前的狂欢。也是水面上最后的稻草!","text":"不一定是好事,暴风雨前的狂欢。也是水面上最后的稻草!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/312226678","repostId":"1111360275","repostType":4,"isVote":1,"tweetType":1,"viewCount":1380,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":337477087,"gmtCreate":1611198232849,"gmtModify":1703748732185,"author":{"id":"3573144743000051","authorId":"3573144743000051","name":"Jerry__0341","avatar":"https://static.tigerbbs.com/421597e03b9d2a886339474d9b132ab8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573144743000051","authorIdStr":"3573144743000051"},"themes":[],"htmlText":"目前还不会收割!","listText":"目前还不会收割!","text":"目前还不会收割!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/337477087","repostId":"1166275451","repostType":4,"repost":{"id":"1166275451","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1611198144,"share":"https://www.laohu8.com/m/news/1166275451?lang=&edition=full","pubTime":"2021-01-21 11:02","market":"other","language":"zh","title":"南向资金今日继续流入,净流入达100亿元","url":"https://stock-news.laohu8.com/highlight/detail?id=1166275451","media":"老虎资讯综合","summary":"1月21日讯,恒指盘中拉升,现涨0.5%,烟草板块、黄金板块涨幅居前。南向资金今日早盘继续流入,目前净流入达100亿元。","content":"<p>1月21日讯,恒指盘中拉升,现涨0.5%,烟草板块、黄金板块涨幅居前。</p><p>南向资金今日早盘继续流入,目前净流入达100亿元。<img src=\"https://static.tigerbbs.com/3aa1f9e74b88cfbc84b0ccfe4a0c76a4\" tg-width=\"750\" tg-height=\"1334\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>南向资金今日继续流入,净流入达100亿元</title>\n<style 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11:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>1月21日讯,恒指盘中拉升,现涨0.5%,烟草板块、黄金板块涨幅居前。</p><p>南向资金今日早盘继续流入,目前净流入达100亿元。<img src=\"https://static.tigerbbs.com/3aa1f9e74b88cfbc84b0ccfe4a0c76a4\" tg-width=\"750\" tg-height=\"1334\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/528f1b5f95c1aa85d740d858963e7e8f","relate_stocks":{"HSI":"恒生指数"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166275451","content_text":"1月21日讯,恒指盘中拉升,现涨0.5%,烟草板块、黄金板块涨幅居前。南向资金今日早盘继续流入,目前净流入达100亿元。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1651,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"idStr":"3527667803686145","authorIdStr":"3527667803686145"},"content":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题,可以获得更多曝光哦~如果您想创作优质文章,请查看老虎社区创作指引","text":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题,可以获得更多曝光哦~如果您想创作优质文章,请查看老虎社区创作指引","html":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题,可以获得更多曝光哦~如果您想创作优质文章,请查看老虎社区创作指引"}],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":374219334,"gmtCreate":1619447881228,"gmtModify":1619447881228,"author":{"id":"3573144743000051","authorId":"3573144743000051","name":"Jerry__0341","avatar":"https://static.tigerbbs.com/421597e03b9d2a886339474d9b132ab8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573144743000051","authorIdStr":"3573144743000051"},"themes":[],"htmlText":"星链计划触碰了高层底线,特斯拉必死,死后献祭给华为造车铺路!但是特斯拉依然会走向世界!因为马斯克是人类之光!","listText":"星链计划触碰了高层底线,特斯拉必死,死后献祭给华为造车铺路!但是特斯拉依然会走向世界!因为马斯克是人类之光!","text":"星链计划触碰了高层底线,特斯拉必死,死后献祭给华为造车铺路!但是特斯拉依然会走向世界!因为马斯克是人类之光!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/374219334","repostId":"1188284210","repostType":4,"isVote":1,"tweetType":1,"viewCount":2097,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":104404124,"gmtCreate":1620401237668,"gmtModify":1620401237668,"author":{"id":"3573144743000051","authorId":"3573144743000051","name":"Jerry__0341","avatar":"https://static.tigerbbs.com/421597e03b9d2a886339474d9b132ab8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573144743000051","authorIdStr":"3573144743000051"},"themes":[],"htmlText":"这届总干事是肥差","listText":"这届总干事是肥差","text":"这届总干事是肥差","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/104404124","repostId":"1141722670","repostType":4,"isVote":1,"tweetType":1,"viewCount":1746,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":169103912,"gmtCreate":1623819500636,"gmtModify":1623820367242,"author":{"id":"3573144743000051","authorId":"3573144743000051","name":"Jerry__0341","avatar":"https://static.tigerbbs.com/421597e03b9d2a886339474d9b132ab8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573144743000051","authorIdStr":"3573144743000051"},"themes":[],"htmlText":"思聪舔狗","listText":"思聪舔狗","text":"思聪舔狗","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169103912","repostId":"1184539224","repostType":4,"isVote":1,"tweetType":1,"viewCount":1450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":337477087,"gmtCreate":1611198232849,"gmtModify":1703748732185,"author":{"id":"3573144743000051","authorId":"3573144743000051","name":"Jerry__0341","avatar":"https://static.tigerbbs.com/421597e03b9d2a886339474d9b132ab8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573144743000051","authorIdStr":"3573144743000051"},"themes":[],"htmlText":"目前还不会收割!","listText":"目前还不会收割!","text":"目前还不会收割!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/337477087","repostId":"1166275451","repostType":4,"isVote":1,"tweetType":1,"viewCount":1651,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"idStr":"3527667803686145","authorIdStr":"3527667803686145"},"content":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题,可以获得更多曝光哦~如果您想创作优质文章,请查看老虎社区创作指引","text":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题,可以获得更多曝光哦~如果您想创作优质文章,请查看老虎社区创作指引","html":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题,可以获得更多曝光哦~如果您想创作优质文章,请查看老虎社区创作指引"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":328655803,"gmtCreate":1615523660802,"gmtModify":1703490405973,"author":{"id":"3573144743000051","authorId":"3573144743000051","name":"Jerry__0341","avatar":"https://static.tigerbbs.com/421597e03b9d2a886339474d9b132ab8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573144743000051","authorIdStr":"3573144743000051"},"themes":[],"htmlText":"还在推港基?不是坏,就是蠢","listText":"还在推港基?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