»ù½ð¹ÜÀíÈË£º¹ã·¢»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾
»ù½ðÍйÜÈË£ºÖйú¹¤ÉÌÒøÐйɷÝÓÐÏÞ¹«Ë¾
±¨¸æËͳöÈÕÆÚ£º¶þ©–Ò»°ËÄê°ËÔ¶þÊ®ËÄÈÕ
1 ÖØÒªÌáʾ
1.1 ÖØÒªÌáʾ
»ù½ð¹ÜÀíÈ˵ĶÊ»ᡢ¶Ê±£Ö¤±¾±¨¸æËùÔØ×ÊÁϲ»´æÔÚÐé¼Ù¼ÇÔØ¡¢Îóµ¼ÐÔ³ÂÊö»òÖØ´óÒÅ©£¬²¢¶ÔÆäÄÚÈݵÄÕæʵÐÔ¡¢×¼È·ÐÔºÍÍêÕûÐԳе£¸ö±ð¼°Á¬´øµÄ·¨ÂÉÔðÈΡ£±¾°ëÄê¶È±¨¸æÒѾÈý·ÖÖ®¶þÒÔÉ϶ÀÁ¢¶ÊÂÇ©×ÖͬÒ⣬²¢Óɶʳ¤Ç©·¢¡£
»ù½ðÍйÜÈËÖйú¹¤ÉÌÒøÐйɷÝÓÐÏÞ¹«Ë¾¸ù¾Ý±¾»ù½ðºÏͬ¹æ¶¨£¬ÓÚ2018Äê8ÔÂ22ÈÕ¸´ºËÁ˱¾±¨¸æÖеIJÆÎñÖ¸±ê¡¢¾»Öµ±íÏÖ¡¢ÀûÈó·ÖÅäÇé¿ö¡¢²ÆÎñ»á¼Æ±¨¸æ¡¢Í¶×Ê×éºÏ±¨¸æµÈÄÚÈÝ£¬±£Ö¤¸´ºËÄÚÈݲ»´æÔÚÐé¼Ù¼ÇÔØ¡¢Îóµ¼ÐÔ³ÂÊö»òÕßÖØ´óÒÅ©¡£
»ù½ð¹ÜÀíÈ˳ÐŵÒÔ³ÏʵÐÅÓá¢ÇÚÃ㾡ÔðµÄÔÔò¹ÜÀíºÍÔËÓûù½ð×ʲú£¬µ«²»±£Ö¤»ù½ðÒ»¶¨Ó¯Àû¡£
»ù½ðµÄ¹ýÍùÒµ¼¨²¢²»´ú±íÆäδÀ´±íÏÖ¡£Í¶×ÊÓзçÏÕ£¬Í¶×ÊÕßÔÚ×÷³öͶ×ʾö²ßÇ°Ó¦×ÐϸÔĶÁ±¾»ù½ðµÄÕÐļ˵Ã÷Êé¼°Æä¸üС£
±¾°ëÄê¶È±¨¸æÕªÒªÕª×Ô°ëÄê¶È±¨¸æÕýÎÄ£¬Í¶×ÊÕßÓûÁ˽âÏêϸÄÚÈÝ£¬Ó¦ÔĶÁ°ëÄê¶È±¨¸æÕýÎÄ¡£
±¾±¨¸æÖвÆÎñ×ÊÁÏδ¾Éó¼Æ¡£
±¾±¨¸æÆÚ×Ô2018Äê1ÔÂ2ÈÕÆðÖÁ6ÔÂ30ÈÕÖ¹¡£
2 »ù½ð¼ò½é
2.1 »ù½ð»ù±¾Çé¿ö
»ù½ð¼ò³Æ
¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½Ó
»ù½ðÖ÷´úÂë
004752
½»Ò×´úÂë
004752
»ù½ðÔË×÷·½Ê½
ÆõÔ¼ÐÍ¿ª·Åʽ
»ù½ðºÏͬÉúЧÈÕ
2018Äê1ÔÂ2ÈÕ
»ù½ð¹ÜÀíÈË
¹ã·¢»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾
»ù½ðÍйÜÈË
Öйú¹¤ÉÌÒøÐйɷÝÓÐÏÞ¹«Ë¾
±¨¸æÆÚÄ©»ù½ð·Ý¶î×ܶî
226,694,320.66·Ý
»ù½ðºÏͬ´æÐøÆÚ
²»¶¨ÆÚ
ÏÂÊôÁ½¼¶»ù½ðµÄ»ù½ð¼ò³Æ
¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓA
¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓC
ÏÂÊôÁ½¼¶»ù½ðµÄ½»Ò×´úÂë
004752
004753
±¨¸æÆÚÄ©ÏÂÊô·Ö¼¶»ù½ðµÄ·Ý¶î×ܶî
192,864,846.41·Ý
33,829,474.25·Ý
2.1.1 Ä¿±ê»ù½ð»ù±¾Çé¿ö
»ù½ðÃû³Æ
¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð
»ù½ðÖ÷´úÂë
512980
»ù½ðÔË×÷·½Ê½
½»Ò×ÐÍ¿ª·Åʽ
»ù½ðºÏͬÉúЧÈÕ
2017Äê12ÔÂ27ÈÕ
»ù½ð·Ý¶îÉÏÊеÄ֤ȯ½»Ò×Ëù
ÉϺ£Ö¤È¯½»Ò×Ëù
ÉÏÊÐÈÕÆÚ
2018Äê1ÔÂ19ÈÕ
»ù½ð¹ÜÀíÈËÃû³Æ
¹ã·¢»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾
»ù½ðÍйÜÈËÃû³Æ
Öйú¹¤ÉÌÒøÐйɷÝÓÐÏÞ¹«Ë¾
2.2 »ù½ð²úƷ˵Ã÷
Ͷ×ÊÄ¿±ê
±¾»ù½ðÖ÷Ҫͨ¹ýͶ×ÊÓÚÄ¿±êETF£¬½ôÃܸú×Ù±êµÄÖ¸Êý£¬×·Çó¸ú×ÙÆ«Àë¶ÈºÍ¸ú×ÙÎó²î×îС»¯¡£
Ͷ×ʲßÂÔ
±¾»ù½ðΪETFÁª½Ó»ù½ð£¬Ö÷Ҫͨ¹ýͶ×ÊÓÚÄ¿±êETFʵÏÖ¶Ô±êµÄÖ¸ÊýµÄ½ôÃܸú×Ù¡£±¾»ù½ðÁ¦Õù½«±¾»ù½ð¾»ÖµÔö³¤ÂÊÓëÒµ¼¨±È½Ï»ù×¼Ö®¼äµÄÈÕ¾ù¸ú×ÙÆ«Àë¶ÈµÄ¾ø¶ÔÖµ¿ØÖÆÔÚ0.35%ÒÔÄÚ£¬Ä껯¸ú×ÙÎó²î¿ØÖÆÔÚ4%ÒÔÄÚ¡£
Òµ¼¨±È½Ï»ù×¼
95%¡ÁÖÐÖ¤´«Ã½Ö¸ÊýÊÕÒæÂÊ+5%¡ÁÒøÐлîÆÚ´æ¿îÀûÂÊ£¨Ë°ºó£©¡£
·çÏÕÊÕÒæÌØÕ÷
±¾»ù½ðΪETFÁª½Ó»ù½ð£¬·çÏÕÓëÊÕÒæ¸ßÓÚ»ìºÏÐÍ»ù½ð¡¢Õ®È¯ÐÍ»ù½ðÓë»õ±ÒÊг¡»ù½ð¡£±¾»ù½ðΪָÊýÐÍ»ù½ð£¬¾ßÓÐÓë±êµÄÖ¸Êý¡¢ÒÔ¼°±êµÄÖ¸ÊýËù´ú±íµÄ¹ÉƱÊг¡ÏàËƵķçÏÕÊÕÒæÌØÕ÷¡£
2.2.1 Ä¿±ê»ù½ð²úƷ˵Ã÷
Ͷ×ÊÄ¿±ê
½ôÃܸú×Ù±êµÄÖ¸Êý£¬×·Çó¸ú×ÙÆ«Àë¶ÈºÍ¸ú×ÙÎó²î×îС»¯¡£
Ͷ×ʲßÂÔ
±¾»ù½ðÖ÷Òª²ÉÈ¡ÍêÈ«¸´ÖÆ·¨£¬¼´°´ÕÕ±êµÄÖ¸ÊýµÄ³É·Ý¹ÉµÄ¹¹³É¼°ÆäȨÖع¹½¨Ö¸Êý»¯Í¶×Ê×éºÏ£¬²¢¸ù¾Ý±êµÄÖ¸Êý³É·Ý¹É¼°ÆäȨÖصı䶯½øÐÐÏàÓ¦µÄµ÷Õû¡£±¾»ù½ðͶ×ÊÓÚ±êµÄÖ¸Êý³É·Ý¹É¼°±¸Ñ¡³É·Ý¹ÉµÄ±ÈÀý²»µÍÓÚ»ù½ð×ʲúµÄ90%ÇÒ²»µÍÓÚ·ÇÏÖ½ð»ù½ð×ʲúµÄ80%¡£
Òµ¼¨±È½Ï»ù×¼
±¾»ù½ðµÄ±êµÄÖ¸ÊýΪÖÐÖ¤´«Ã½Ö¸Êý¡£±¾»ù½ðµÄÒµ¼¨±È½Ï»ù׼ΪͬÆÚ±êµÄÖ¸ÊýÊÕÒæÂÊ¡£
·çÏÕÊÕÒæÌØÕ÷
±¾»ù½ðΪ¹ÉƱÐÍ»ù½ð£¬·çÏÕÓëÊÕÒæ¸ßÓÚ»ìºÏÐÍ»ù½ð¡¢Õ®È¯ÐÍ»ù½ðÓë»õ±ÒÊг¡»ù½ð¡£±¾»ù½ð²ÉÓÃÍêÈ«¸´ÖÆ·¨¸ú×Ù±êµÄÖ¸ÊýµÄ±íÏÖ£¬¾ßÓÐÓë±êµÄÖ¸Êý¡¢ÒÔ¼°±êµÄÖ¸ÊýËù´ú±íµÄ¹ÉƱÊг¡ÏàËƵķçÏÕÊÕÒæÌØÕ÷¡£
2.3 »ù½ð¹ÜÀíÈ˺ͻù½ðÍйÜÈË
씀»ù½ð¹ÜÀíÈË
»ù½ðÍйÜÈË
Ãû³Æ
¹ã·¢»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾
Öйú¹¤ÉÌÒøÐйɷÝÓÐÏÞ¹«Ë¾
ÐÅÏ¢Åû¶¸ºÔðÈË
ÐÕÃû
¶ÎÎ÷¾ü
¹ùÃ÷
ÁªÏµµç»°
020-83936666
£¨010£©66105798
µç×ÓÓÊÏä
dxj@gffunds.com.cn
custody@icbc.com.cn
¿Í»§·þÎñµç»°
95105828,020-83936999
95588
´«Õæ
020-89899158
£¨010£©66105799
2.4 ÐÅÏ¢Åû¶·½Ê½
µÇÔØ»ù½ð°ëÄê¶È±¨¸æÕªÒªµÄ¹ÜÀíÈË»¥ÁªÍøÍøÖ·
http://www.gffunds.com.cn
»ù½ð°ëÄê¶È±¨¸æ±¸Öõصã
¹ãÖÝÊк£ÖéÇøÅÃÖÞ´óµÀ¶«1ºÅ±£Àû¹ú¼Ê¹ã³¡ÄÏËþ31-33Â¥
3 Ö÷Òª²ÆÎñÖ¸±êºÍ»ù½ð¾»Öµ±íÏÖ
3.1 Ö÷Òª»á¼ÆÊý¾ÝºÍ²ÆÎñÖ¸±ê
½ð¶îµ¥Î»£ºÈËÃñ±ÒÔª
3.1.1ÆÚ¼äÊý¾ÝºÍÖ¸±ê
±¨¸æÆÚ£¨2018Äê1ÔÂ2ÈÕ£¨»ù½ðºÏͬÉúЧÈÕ£©ÖÁ2018Äê6ÔÂ30ÈÕ£©
¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓA
¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓC
±¾ÆÚÒÑʵÏÖÊÕÒæ
-1,181,664.39
-204,451.40
±¾ÆÚÀûÈó
-26,972,506.63
-5,152,113.94
¼ÓȨƽ¾ù»ù½ð·Ý¶î±¾ÆÚÀûÈó
-0.2522
-0.2455
±¾ÆÚ¼ÓȨƽ¾ù¾»ÖµÀûÈóÂÊ
-27.48%
-26.75%
±¾ÆÚ»ù½ð·Ý¶î¾»ÖµÔö³¤ÂÊ
-18.79%
-18.71%
3.1.2ÆÚÄ©Êý¾ÝºÍÖ¸±ê
±¨¸æÆÚÄ©(2018Äê6ÔÂ30ÈÕ)
¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓA
¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓC
ÆÚÄ©¿É¹©·ÖÅäÀûÈó
-36,243,535.87
-6,330,945.23
ÆÚÄ©¿É¹©·ÖÅä»ù½ð·Ý¶îÀûÈó
-0.1879
-0.1871
ÆÚÄ©»ù½ð×ʲú¾»Öµ
156,621,310.54
27,498,529.02
ÆÚÄ©»ù½ð·Ý¶î¾»Öµ
0.8121
0.8129
×¢£º£¨1£©±¾»ù½ðºÏͬÉúЧÈÕΪ2018Äê1ÔÂ2ÈÕ£¬ÖÁÅû¶ʱµã²»Âú°ëÄê¡£
£¨2£©ËùÊö»ù½ðÒµ¼¨Ö¸±ê²»°üÀ¨³ÖÓÐÈËÈϹº»ò½»Ò×»ù½ðµÄ¸÷Ïî·ÑÓ㬼ÆÈë·ÑÓúóʵ¼ÊÊÕÒæˮƽҪµÍÓÚËùÁÐÊý×Ö¡£
£¨3£©±¾ÆÚÒÑʵÏÖÊÕÒæÖ¸»ù½ð±¾ÆÚÀûÏ¢ÊÕÈ롢Ͷ×ÊÊÕÒæ¡¢ÆäËûÊÕÈ루²»º¬¹«ÔʼÛÖµ±ä¶¯ÊÕÒ棩¿Û³ýÏà¹Ø·ÑÓúóµÄÓà¶î£¬±¾ÆÚÀûÈóΪ±¾ÆÚÒÑʵÏÖÊÕÒæ¼ÓÉϱ¾ÆÚ¹«ÔʼÛÖµ±ä¶¯ÊÕÒæ¡£
£¨4£©ÆÚÄ©¿É¹©·ÖÅäÀûÈó²ÉÓÃÆÚÄ©×ʲú¸ºÕ®±íÖÐδ·ÖÅäÀûÈóÓëδ·ÖÅäÀûÈóÖÐÒÑʵÏÖ²¿·ÖµÄÊëµÍÊý£¨ÎªÆÚÄ©Óà¶î£¬²»Êǵ±ÆÚ·¢ÉúÊý£©¡£
3.2 »ù½ð¾»Öµ±íÏÖ
3.2.1 »ù½ð·Ý¶î¾»ÖµÔö³¤Âʼ°ÆäÓëͬÆÚÒµ¼¨±È½Ï»ù×¼ÊÕÒæÂʵıȽÏ
¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓA
½×¶Î
·Ý¶î¾»ÖµÔö³¤ÂÊ¢Ù
·Ý¶î¾»ÖµÔö³¤Âʱê×¼²î¢Ú
Òµ¼¨±È½Ï»ù×¼ÊÕÒæÂÊ¢Û
Òµ¼¨±È½Ï»ù×¼ÊÕÒæÂʱê×¼²î¢Ü
¢Ù£¢Û
¢Ú£¢Ü
¹ýÈ¥Ò»¸öÔÂ
-9.39%
1.89%
-9.58%
1.95%
0.19%
-0.06%
¹ýÈ¥Èý¸öÔÂ
-17.34%
1.45%
-17.87%
1.50%
0.53%
-0.05%
×Ô»ù½ðºÏͬÉúЧÆðÖÁ½ñ
-18.79%
1.47%
-17.26%
1.55%
-1.53%
-0.08%
¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓC
½×¶Î
·Ý¶î¾»ÖµÔö³¤ÂÊ¢Ù
·Ý¶î¾»ÖµÔö³¤Âʱê×¼²î¢Ú
Òµ¼¨±È½Ï»ù×¼ÊÕÒæÂÊ¢Û
Òµ¼¨±È½Ï»ù×¼ÊÕÒæÂʱê×¼²î¢Ü
¢Ù£¢Û
¢Ú£¢Ü
¹ýÈ¥Ò»¸öÔÂ
-9.35%
1.89%
-9.58%
1.95%
0.23%
-0.06%
¹ýÈ¥Èý¸öÔÂ
-17.32%
1.45%
-17.87%
1.50%
0.55%
-0.05%
×Ô»ù½ðºÏͬÉúЧÆðÖÁ½ñ
-18.71%
1.47%
-17.26%
1.55%
-1.45%
-0.08%
£¨1£©Òµ¼¨±È½Ï»ù×¼£º95%¡ÁÖÐÖ¤´«Ã½Ö¸ÊýÊÕÒæÂÊ+5%¡ÁÒøÐлîÆÚ´æ¿îÀûÂÊ£¨Ë°ºó£©¡£
£¨2£©Òµ¼¨±È½Ï»ù×¼ÊǸù¾Ý»ù½ðºÏͬ¹ØÓÚ×ʲúÅäÖñÈÀýµÄ¹æ¶¨¹¹½¨µÄ¡£
3.2.2 ×Ô»ù½ðºÏͬÉúЧÒÔÀ´»ù½ð·Ý¶îÀۼƾ»ÖµÔö³¤Âʱ䶯¼°ÆäÓëͬÆÚÒµ¼¨±È½Ï»ù×¼ÊÕÒæÂʱ䶯µÄ±È½Ï
¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ð
·Ý¶îÀۼƾ»ÖµÔö³¤ÂÊÓëÒµ¼¨±È½Ï»ù×¼ÊÕÒæÂÊÀúÊ·×ßÊƶԱÈͼ
£¨2018Äê1ÔÂ2ÈÕÖÁ2018Äê6ÔÂ30ÈÕ£©
¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓA
/
¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓC
/
×¢£º£¨1£©±¾»ù½ðºÏͬÉúЧÈÕÆÚΪ2018Äê1ÔÂ2ÈÕ£¬ÖÁÅû¶ʱµã±¾»ù½ð³ÉÁ¢Î´ÂúÒ»Äê¡£
£¨2£©±¾»ù½ð½¨²ÖÆÚΪ»ù½ðºÏͬÉúЧºó3¸öÔ£¬½¨²ÖÆÚ½áÊøʱ¸÷Ïî×ʲúÅäÖñÈÀý·ûºÏ±¾»ù½ðºÏͬÓйع涨¡£
4 ¹ÜÀíÈ˱¨¸æ
4.1 »ù½ð¹ÜÀíÈ˼°»ù½ð¾ÀíÇé¿ö
4.1.1 »ù½ð¹ÜÀíÈ˼°Æä¹ÜÀí»ù½ðµÄ¾Ñé
±¾»ù½ð¹ÜÀíÈ˾ÖйúÖ¤¼à»áÖ¤¼à»ù½ð×Ö[2003]91ºÅÎÄÅú×¼£¬ÓÚ2003Äê8ÔÂ5ÈÕ³ÉÁ¢£¬×¢²á×ʱ¾1.2688ÒÚÔªÈËÃñ±Ò¡£¹«Ë¾µÄ¹É¶«Îª¹ã·¢Ö¤È¯¹É·ÝÓÐÏÞ¹«Ë¾¡¢·é»ðͨÐſƼ¼¹É·ÝÓÐÏÞ¹«Ë¾¡¢ÉîÛÚÊÐÇ°º£Ïã½½ðÈڿعɼ¯ÍÅÓÐÏÞ¹«Ë¾¡¢¿µÃÀÒ©Òµ¹É·ÝÓÐÏÞ¹«Ë¾ºÍ¹ãÖݿƼ¼½ðÈÚ´´ÐÂͶ×ʿعÉÓÐÏÞ¹«Ë¾¡£¹«Ë¾ÓµÓй«Ä¼»ù½ð¹ÜÀí¡¢Ìض¨¿Í»§×ʲú¹ÜÀí¡¢Éç±£»ù½ð¾³ÄÚͶ×ʹÜÀíÈË¡¢»ù±¾ÑøÀϱ£ÏÕ»ù½ð֤ȯͶ×ʹÜÀí»ú¹¹¡¢ÊÜÍйÜÀí±£ÏÕ×ʽðͶ×ʹÜÀíÈË¡¢±£ÏÕ±£ÕÏ»ù½ðίÍÐ×ʲú¹ÜÀíͶ×ʹÜÀíÈË¡¢ºÏ¸ñ¾³ÄÚ»ú¹¹Í¶×ÊÕß¾³Íâ֤ȯͶ×ʹÜÀí£¨QDII£©µÈÒµÎñ×ʸñ¡£
±¾»ù½ð¹ÜÀíÈËÔڶʻáÏÂÉèºÏ¹æ¼°·çÏÕ¹ÜÀíίԱ»á¡¢Ð½³êÓë×ʸñÉó²éίԱ»á¡¢Õ½ÂԹ滮ίԱ»áÈý¸öרҵίԱ»á¡£¹«Ë¾ÏÂÉèͶ×ʾö²ßίԱ»á¡¢·çÏÕ¿ØÖÆίԱ»áºÍ30¸ö²¿ÃÅ£ººê¹Û²ßÂÔ²¿¡¢È¨ÒæͶ×ÊÒ»²¿¡¢È¨ÒæͶ×ʶþ²¿¡¢¹Ì¶¨ÊÕÒæ¹ÜÀí×ܲ¿¡¢Ö¸ÊýͶ×ʲ¿¡¢Á¿»¯Í¶×ʲ¿¡¢×ʲúÅäÖò¿¡¢Êý¾Ý²ßÂÔͶ×ʲ¿¡¢¹ú¼ÊÒµÎñ²¿¡¢Ñо¿·¢Õ¹²¿¡¢²úÆ·Éè¼Æ²¿¡¢ÓªÏú¹ÜÀí²¿¡¢»ú¹¹Àí²Æ²¿¡¢ÇþµÀ¹ÜÀí×ܲ¿¡¢ÑøÀϽðÓëÕ½ÂÔÒµÎñ²¿¡¢±±¾©·Ö¹«Ë¾¡¢¹ãÖÝ·Ö¹«Ë¾¡¢ÉϺ£·Ö¹«Ë¾¡¢»¥ÁªÍø½ðÈÚ²¿¡¢ÖÐÑë½»Òײ¿¡¢»ù½ð»á¼Æ²¿¡¢×¢²áµÇ¼Ç²¿¡¢ÐÅÏ¢¼¼Êõ²¿¡¢ºÏ¹æ»üºË²¿¡¢½ðÈÚ¹¤³ÌÓë·çÏÕ¹ÜÀí²¿¡¢¹æ»®·¢Õ¹²¿¡¢ÈËÁ¦×ÊÔ´²¿¡¢²ÆÎñ²¿¡¢×ۺϹÜÀí²¿¡¢±±¾©°ìÊ´¦¡£´ËÍ⣬»¹³ö×ÊÉèÁ¢ÁËÈðÔª×ʱ¾¹ÜÀíÓÐÏÞ¹«Ë¾¡¢¹ã·¢¹ú¼Ê×ʲú¹ÜÀíÓÐÏÞ¹«Ë¾£¨Ïã¸Û×Ó¹«Ë¾£©£¬²Î¹ÉÁË֤ͨ¹É·ÝÓÐÏÞ¹«Ë¾¡£
½ØÖÁ2018Äê6ÔÂ30ÈÕ£¬±¾»ù½ð¹ÜÀíÈ˹ÜÀíÒ»°ÙÆßÊ®ÎåÖ»¿ª·Åʽ»ù½ð£¬¹ÜÀí×ʲú¹æģΪ3600ÒÚÔª¡£Í¬Ê±£¬¹«Ë¾»¹¹ÜÀí×Ŷà¸öÌض¨¿Í»§×ʲú¹ÜÀíͶ×Ê×éºÏ¡¢Éç±£»ù½ðͶ×Ê×éºÏºÍÑøÀÏ»ù½ðͶ×Ê×éºÏ¡£
4.1.2 »ù½ð¾Àí£¨»ò»ù½ð¾ÀíС×飩¼°»ù½ð¾ÀíÖúÀíµÄ¼ò½é
ÐÕÃû
Ö°Îñ
Èα¾»ù½ðµÄ»ù½ð¾Àí
£¨ÖúÀí£©ÆÚÏÞ
֤ȯ´ÓÒµÄêÏÞ
˵Ã÷
ÈÎÖ°ÈÕÆÚ
ÀëÈÎÈÕÆÚ
ÂÞ¹úÇì
±¾»ù½ðµÄ»ù½ð¾Àí£»¹ã·¢ÉîÖ¤100Ö¸Êý·Ö¼¶»ù½ðµÄ»ù½ð¾Àí£»¹ã·¢Ò½ÁÆÖ¸Êý·Ö¼¶»ù½ðµÄ»ù½ð¾Àí£»¹ã·¢ÖÐ֤ȫָÆû³µ»ù½ðµÄ»ù½ð¾Àí£»¹ã·¢ÖÐ֤ȫָ½¨Öþ²ÄÁÏ»ù½ðµÄ»ù½ð¾Àí£»¹ã·¢¼ÒÓõçÆ÷Ö¸Êý»ù½ðµÄ»ù½ð¾Àí£»¹ã·¢ÖÐÖ¤´«Ã½ETF»ù½ðµÄ»ù½ð¾Àí£»Ö¸ÊýͶ×ʲ¿¸±×ܾÀí
2018-01-02
-
9Äê
ÂÞ¹úÇìÏÈÉú£¬¾¼Ãѧ˶ʿ£¬³ÖÓÐÖйú֤ȯͶ×Ê»ù½ðÒµ´ÓÒµÖ¤Êé¡£ÔøÈÎÉîÛÚ֤ȯÐÅÏ¢ÓÐÏÞ¹«Ë¾Ñо¿Ô±£¬»ª¸»»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾²úÆ·Éè¼ÆÑо¿Ô±£¬¹ã·¢»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾²úÆ·¾Àí¼°Á¿»¯Ñо¿Ô±¡£ÏÖÈι㷢»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾Ö¸ÊýͶ×ʲ¿¸±×ܾÀí¡¢¹ã·¢ÉîÖ¤100Ö¸Êý·Ö¼¶Ö¤È¯Í¶×Ê»ù½ð»ù½ð¾Àí£¨×Ô2015Äê10ÔÂ13ÈÕÆðÈÎÖ°£©¡¢¹ã·¢ÖÐÖ¤Ò½ÁÆÖ¸Êý·Ö¼¶Ö¤È¯Í¶×Ê»ù½ð»ù½ð¾Àí£¨×Ô2015Äê10ÔÂ13ÈÕÆðÈÎÖ°£©¡¢¹ã·¢ÖÐ֤ȫָÆû³µÖ¸ÊýÐÍ·¢Æðʽ֤ȯͶ×Ê»ù½ð»ù½ð¾Àí£¨×Ô2017Äê7ÔÂ31ÈÕÆðÈÎÖ°£©¡¢¹ã·¢ÖÐ֤ȫָ½¨Öþ²ÄÁÏÖ¸ÊýÐÍ·¢Æðʽ֤ȯͶ×Ê»ù½ð»ù½ð¾Àí£¨×Ô2017Äê8ÔÂ2ÈÕÆðÈÎÖ°£©¡¢¹ã·¢ÖÐ֤ȫָ¼ÒÓõçÆ÷Ö¸ÊýÐÍ·¢Æðʽ֤ȯͶ×Ê»ù½ð»ù½ð¾Àí£¨×Ô2017Äê9ÔÂ13ÈÕÆðÈÎÖ°£©¡¢¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð»ù½ð¾Àí£¨×Ô2017Äê12ÔÂ29ÈÕÆðÈÎÖ°£©¡¢¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ð»ù½ð¾Àí£¨×Ô2018Äê1ÔÂ2ÈÕÆðÈÎÖ°£©¡£
×¢£º1.¡°ÈÎÖ°ÈÕÆÚ¡±ºÍ¡°ÀëÖ°ÈÕÆÚ¡±Ö¸¹«Ë¾¹«¸æƸÈλò½âƸÈÕÆÚ¡£
2.֤ȯ´ÓÒµµÄº¬Òå×ñ´ÓÐÐҵлᡶ֤ȯҵ´ÓÒµÈËÔ±×ʸñ¹ÜÀí°ì·¨¡·µÄÏà¹Ø¹æ¶¨¡£
4.2 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ±¾»ù½ðÔË×÷×ñ¹æÊØÐÅÇé¿öµÄ˵Ã÷
±¾±¨¸æÆÚÄÚ£¬±¾»ù½ð¹ÜÀíÈËÑϸñ×ñÊØ¡¶ÖлªÈËÃñ¹²ºÍ¹ú֤ȯͶ×Ê»ù½ð·¨¡·¼°ÆäÅäÌ×·¨¹æ¡¢¡¶¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ð»ù½ðºÏͬ¡·ºÍÆäËûÓйط¨ÂÉ·¨¹æµÄ¹æ¶¨£¬±¾×ųÏʵÐÅÓá¢ÇÚÃ㾡ÔðµÄÔÔò¹ÜÀíºÍÔËÓûù½ð×ʲú£¬ÔÚÑϸñ¿ØÖÆ·çÏյĻù´¡ÉÏ£¬Îª»ù½ð·Ý¶î³ÖÓÐÈËıÇó×î´óÀûÒæ¡£±¾±¨¸æÆÚÄÚ»ù½ðÔË×÷ºÏ·¨ºÏ¹æ£¬ÎÞË𺦻ù½ð³ÖÓÐÈËÀûÒæµÄÐÐΪ£¬»ù½ðµÄͶ×ʹÜÀí·ûºÏÓйط¨¹æ¼°»ù½ðºÏͬµÄ¹æ¶¨¡£
4.3 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ¹«Æ½½»Ò×Çé¿öµÄרÏî˵Ã÷
4.3.1 ¹«Æ½½»Ò×ÖƶȵÄÖ´ÐÐÇé¿ö
¹«Ë¾Í¨¹ý½¨Á¢¿Æѧ¡¢ÖƺâµÄͶ×ʾö²ßÌåϵ£¬¼ÓÇ¿½»Ò×·ÖÅä»·½ÚµÄÄÚ²¿¿ØÖÆ£¬²¢Í¨¹ýʵʱµÄÐÐΪ¼à¿ØÓ뼰ʱµÄ·ÖÎöÆÀ¹À£¬±£Ö¤¹«Æ½½»Ò×ÔÔòµÄʵÏÖ¡£
ÔÚͶ×ʾö²ßµÄÄÚ²¿¿ØÖÆ·½Ã棬¹«Ë¾Öƶȹ涨Ͷ×Ê×éºÏͶ×ʵĹÉƱ±ØÐëÀ´Ô´ÓÚ±¸Ñ¡¹ÉƱ¿â£¬ÖصãͶ×ʵĹÉƱ±ØÐëÀ´Ô´ÓÚºËÐĹÉƱ¿â£¬Í¶×ʵÄծȯ±ØÐëÀ´×Ô¹«Ë¾Õ®È¯¿â¡£¹«Ë¾½¨Á¢ÁËÑϸñµÄͶ×ÊÊÚȨÖƶȣ¬Í¶×Ê×éºÏ¾ÀíÔÚÊÚȨ·¶Î§ÄÚ¿ÉÒÔ×ÔÖ÷¾ö²ß£¬³¬¹ýͶ×ÊȨÏ޵IJÙ×÷ÐèÒª¾¹ýÑϸñµÄÉóÅú³ÌÐò¡£ÔÚ½»Ò×¹ý³ÌÖУ¬ÖÐÑë½»Òײ¿°´ÕÕ¡°Ê±¼äÓÅÏÈ¡¢¼Û¸ñÓÅÏÈ¡¢±ÈÀý·ÖÅä¡¢×ÛºÏƽºâ¡±µÄÔÔò£¬¹«Æ½·ÖÅäͶ×ÊÖ¸Áî¡£½ðÈÚ¹¤³ÌÓë·çÏÕ¹ÜÀí²¿·çÏÕ¿ØÖƸÚͨ¹ýͶ×ʽ»Ò×ϵͳ¶ÔͶ×ʽ»Ò×¹ý³Ì½øÐÐʵʱ¼à¿Ø¼°Ô¤¾¯£¬ÊµÏÖͶ×Ê·çÏÕµÄÊÂÖзçÏÕ¿ØÖÆ£»»üºË¸Úͨ¹ý¶ÔͶ×Ê¡¢Ñо¿¼°½»Ò×µÈÈ«Á÷³ÌµÄ¶ÀÁ¢¼à²ì»üºË£¬ÊµÏÖͶ×Ê·çÏÕµÄʺó¿ØÖÆ¡£
±¾±¨¸æÆÚÄÚ£¬ÉÏÊö¹«Æ½½»Ò×ÖƶÈ×ÜÌåÖ´ÐÐÇé¿öÁ¼ºÃ£¬²»Í¬µÄͶ×Ê×éºÏÊܵ½Á˹«Æ½¶Ô´ý£¬Î´·¢ÉúÈκβ»¹«Æ½µÄ½»Ò×ÊÂÏî¡£
4.3.2 Òì³£½»Ò×ÐÐΪµÄרÏî˵Ã÷
±¾¹«Ë¾ÔÔòÉϽûÖ¹²»Í¬Í¶×Ê×éºÏÖ®¼ä£¨ÍêÈ«°´ÕÕÓйØÖ¸ÊýµÄ¹¹³É±ÈÀý½øÐÐ֤ȯͶ×ʵÄͶ×Ê×éºÏ³ýÍ⣩»òͬһͶ×Ê×éºÏÔÚͬһ½»Ò×ÈÕÄÚ½øÐз´Ïò½»Òס£Èç¹ûÒòÓ¦¶Ô´ó¶îÊê»ØµÈÌØÊâÇé¿öÐèÒª½øÐз´Ïò½»Ò׵ģ¬ÔòÐè¾¹«Ë¾Áìµ¼ÑϸñÉóÅú²¢ÁôºÛ±¸²é¡£
±¾Í¶×Ê×éºÏΪÍêÈ«°´ÕÕÓйØÖ¸ÊýµÄ¹¹³É±ÈÀý½øÐÐ֤ȯͶ×ʵÄͶ×Ê×éºÏ¡£±¾±¨¸æÆÚÄÚ£¬±¾Í¶×Ê×éºÏÓë±¾¹«Ë¾¹ÜÀíµÄÆäËûͶ×Ê×éºÏ·¢Éú¹ýͬÈÕ·´Ïò½»Ò×µÄÇé¿ö£¬µ«³É½»½ÏÉٵĵ¥±ß½»Ò×Á¿²»³¬¹ý¸Ã֤ȯµ±Èճɽ»Á¿µÄ5%¡£ÕâЩ½»Òײ»´æÔÚÈκÎÀûÒæÊäË͵ÄÏÓÒÉ¡£
4.4 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ»ù½ðµÄͶ×ʲßÂÔºÍÒµ¼¨±íÏÖµÄ˵Ã÷
4.4.1±¨¸æÆÚÄÚ»ù½ðͶ×ʲßÂÔºÍÔË×÷·ÖÎö
£¨1£©Í¶×ʲßÂÔ
×÷ΪETFÁª½Ó»ù½ð£¬±¾»ù½ð½«¼ÌÐø±ü³ÐÖ¸Êý»¯±»¶¯Í¶×ʲßÂÔ£¬Ö÷Òª³ÖÓй㷢ÖÐÖ¤´«Ã½ETF¼°Ö¸Êý³É·Ý¹ÉµÈ£¬¼ä½Ó¸´ÖÆÖ¸Êý£¬Í¬Ê±»ý¼«Ó¦¶Ô³É·Ý¹Éµ÷Õû¡¢»ù½ðÉ깺Êê»ØµÈÒòËضÔÖ¸Êý¸ú×ÙЧ¹û´øÀ´µÄ³å»÷£¬½øÒ»²½½µµÍ»ù½ðµÄ¸ú×ÙÎó²î¡£
£¨2£©ÔË×÷·ÖÎö
±¨¸æÆÚÄÚ£¬±¾»ù½ð¸ú×ÙÎó²îÀ´Ô´Ö÷ÒªÊǽ¨²Ö¡¢É깺¡¢Êê»ØºÍ³É·Ý¹Éµ÷ÕûÒòËØ¡£
4.4.2 ±¨¸æÆÚÄÚ»ù½ðµÄÒµ¼¨±íÏÖ
±¾±¨¸æÆÚÄÚ£¬±¾»ù½ðAÀà·Ý¶î¾»ÖµÔö³¤ÂÊΪ-18.79%£¬CÀà·Ý¶î¾»ÖµÔö³¤ÂÊΪ-18.71%£¬Í¬ÆÚÒµ¼¨»ù×¼ÊÕÒæÂÊΪ-17.26%¡£
4.5 ¹ÜÀíÈ˶Ժê¹Û¾¼Ã¡¢Ö¤È¯Êг¡¼°ÐÐÒµ×ßÊƵļòÒªÕ¹Íû
ÉÏ°ëÄ꣬A¹ÉÊг¡¾ÀúÁËÖÐÃÀóÒ×Ħ²Á¡¢ÃÀÕ®ÊÕÒæÂÊÉÏÐÐÒÔ¼°½ðÈÚÈ¥¸Ü¸ËµÈÒòËØÓ°Ï죬Êг¡³ÖÐøÏÂÐУ¬ÆäÖл¦Éî300Ö¸Êýµø·ù12.90%£¬ÖÐÖ¤500Ö¸Êýµø·ù16.53%£¬´´Òµ°åÖ¸Êýµø·ù8.33%¡£
Ä¿Ç°£¬Ö÷ÒªÖ¸Êý¹ÀÖµ¶¼´¦ÓÚÀúÊ·¹ÀÖµ½ÏµÍˮƽ£¬Êг¡¶ÔÓÚÇ°ÆÚµÄÀû¿ÕÒòËØÒѾ³ä·Ö·´Ó³¡£ÁíÍ⣬¹úÄÚÕþ²ßÐźÅÕûÌåƫů£¬×ʹÜйæ¹ý¶ÉÆÚµÄÒªÇóÃ÷ÏÔ·ÅËÉ£¬»õ±ÒÕþ²ß¶¨Ïò¿íËÉ£¬È¥¸Ü¸ËµÄ½Ú×àÓÐËù·Å»º£¬¼á³Öʵʩ»ý¼«µÄ²ÆÕþÕþ²ß¡£Òò´Ë£¬ÎÒÃÇÈÏΪÈý¼¾¶È¿ÉÄÜ»áÊÇA¹ÉµÄ·´µ¯´°¿Ú£¬Êг¡ÓÐÍûÕðµ´ÏòÉÏ¡£
4.6 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ»ù½ð¹ÀÖµ³ÌÐòµÈÊÂÏîµÄ˵Ã÷
¹«Ë¾ÉèÓйÀֵίԱ»á£¬°´ÕÕÏà¹Ø·¨ÂÉ·¨¹æºÍÖ¤¼à»áµÄÏà¹Ø¹æ¶¨£¬¸ºÔðÖƶ¨ÆìÏ»ù½ðͶ×ÊÆ·ÖֵĹÀÖµÔÔòºÍ¹ÀÖµ³ÌÐò£¬²¢Ñ¡È¡Êʵ±µÄ¹ÀÖµ·½·¨£¬¾¹«Ë¾¹ÜÀí²ãÅú×¼ºó·½¿Éʵʩ¡£¹ÀֵίԱ»áµÄ³ÉÔ±°üÀ¨£º¹«Ë¾·Ö¹ÜͶÑС¢¹ÀÖµµÄ¸±×ܾÀí¡¢¶½²ì³¤¡¢¸÷Ͷ×ʲ¿ÃŸºÔðÈË¡¢Ñо¿·¢Õ¹²¿¸ºÔðÈË¡¢ºÏ¹æ»üºË²¿¸ºÔðÈË¡¢½ðÈÚ¹¤³ÌÓë·çÏÕ¹ÜÀí²¿¸ºÔðÈ˺ͻù½ð»á¼Æ²¿¸ºÔðÈË¡£¹ÀֵίԱ»á¶¨ÆÚ¶Ô¹ÀÖµÕþ²ßºÍ³ÌÐò½øÐÐÆÀ¼Û£¬ÔÚ·¢ÉúÁËÓ°Ïì¹ÀÖµÕþ²ßºÍ³ÌÐòµÄÓÐЧÐÔ¼°ÊÊÓÃÐÔµÄÇé¿öºó¼°Ê±ÐÞ¶©¹ÀÖµ·½·¨£¬ÒÔ±£Ö¤Æä³ÖÐøÊÊÓ᣻ù½ðÈÕ³£¹ÀÖµÓÉ»ù½ð»á¼Æ²¿¾ßÌåÖ´ÐУ¬²¢È·±£ºÍÍйÜÐк˶ÔÒ»Ö¡£Í¶×ÊÑо¿ÈËÔ±»ý¼«¹Ø×¢Êг¡±ä»¯¡¢Ö¤È¯·¢Ðлú¹¹ÖØ´óʼþµÈ¿ÉÄܶԹÀÖµ²úÉúÖØ´óÓ°ÏìµÄÒòËØ£¬Ïò¹ÀֵίԱ»áÌá³ö¹ÀÖµ½¨Ò飬ȷ±£¹ÀÖµµÄ¹«ÔÊÐÔ¡£ºÏ¹æ»üºË²¿¸ºÔð¶¨ÆÚ¶Ô»ù½ð¹ÀÖµ³ÌÐòºÍ·½·¨½øÐк˲飬ȷ±£¹ÀֵίԱ»áµÄ¸÷Ïî¾ö²ßµÃÒÔÓÐЧִÐС£ÒÔÉÏËùÓÐÏà¹ØÈËÔ±¾ß±¸½Ï¸ßµÄרҵÄÜÁ¦ºÍ·á¸»µÄÐÐÒµ´ÓÒµ¾Ñ顣Ϊ±£Ö¤»ù½ð¹ÀÖµµÄ¿Í¹Û¶ÀÁ¢£¬»ù½ð¾Àí²»²ÎÓë¹ÀÖµµÄ¾ßÌåÁ÷³Ì£¬µ«Èô´æÔÚ¶ÔÏà¹ØͶ×ÊÆ·ÖÖ¹ÀÖµÓÐʧ¹«ÔʵÄÇé¿ö£¬¿ÉÏò¹ÀֵίԱ»áÌá³öÒâ¼ûºÍ½¨Òé¡£¸÷·½²»´æÔÚÈκÎÖØ´óÀûÒæ³åÍ»£¬Ò»ÇÐÒÔά»¤»ù½ð³ÖÓÐÈËÀûÒæΪ׼Ôò¡£
±¾»ù½ð¹ÜÀíÈËÒÑÓëÖÐÑë¹úÕ®µÇ¼Ç½áËãÓÐÏÞÔðÈι«Ë¾¡¢ÖÐÖ¤Ö¸ÊýÓÐÏÞ¹«Ë¾Ç©Êð·þÎñÐÒ飬ÓÉÆä°´ºÏͬԼ¶¨ÌṩÏà¹ØծȯƷÖֵĹÀÖµÊý¾Ý¡£
4.7 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ»ù½ðÀûÈó·ÖÅäÇé¿öµÄ˵Ã÷
¸ù¾Ý±¾»ù½ðºÏͬÖС°»ù½ðÊÕÒæÓë·ÖÅ䡱֮¡°»ù½ðÊÕÒæ·ÖÅäÔÔò¡±µÄÏà¹Ø¹æ¶¨£¬±¾»ù½ð±¾±¨¸æÆÚÄÚδ½øÐÐÀûÈó·ÖÅ䣬·ûºÏºÏͬ¹æ¶¨¡£
5 ÍйÜÈ˱¨¸æ
5.1 ±¨¸æÆÚÄÚ±¾»ù½ðÍйÜÈË×ñ¹æÊØÐÅÇé¿öÉùÃ÷
±¾±¨¸æÆÚÄÚ£¬±¾»ù½ðÍйÜÈËÔڶԹ㷢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ðµÄÍйܹý³ÌÖУ¬Ñϸñ×ñÊØ¡¶Ö¤È¯Í¶×Ê»ù½ð·¨¡·¼°ÆäËû·¨ÂÉ·¨¹æºÍ»ù½ðºÏͬµÄÓйع涨£¬²»´æÔÚÈκÎË𺦻ù½ð·Ý¶î³ÖÓÐÈËÀûÒæµÄÐÐΪ£¬ÍêÈ«¾¡Ö°¾¡ÔðµØÂÄÐÐÁË»ù½ðÍйÜÈËÓ¦¾¡µÄÒåÎñ¡£
5.2 ÍйÜÈ˶Ա¨¸æÆÚÄÚ±¾»ù½ðͶ×ÊÔË×÷×ñ¹æÊØÐÅ¡¢¾»Öµ¼ÆËã¡¢ÀûÈó·ÖÅäµÈÇé¿öµÄ˵Ã÷
±¾±¨¸æÆÚÄÚ£¬¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ðµÄ¹ÜÀíÈË¡ª¡ª¹ã·¢»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾Ôڹ㷢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ðµÄͶ×ÊÔË×÷¡¢»ù½ð×ʲú¾»Öµ¼ÆËã¡¢»ù½ð·Ý¶îÉ깺Êê»Ø¼Û¸ñ¼ÆËã¡¢»ù½ð·ÑÓÿªÖ§µÈÎÊÌâÉÏ£¬²»´æÔÚÈκÎË𺦻ù½ð·Ý¶î³ÖÓÐÈËÀûÒæµÄÐÐΪ£¬ÔÚ¸÷ÖØÒª·½ÃæµÄÔË×÷Ñϸñ°´ÕÕ»ù½ðºÏͬµÄ¹æ¶¨½øÐС£
5.3 ÍйÜÈ˶Ա¾°ëÄê¶È±¨¸æÖвÆÎñÐÅÏ¢µÈÄÚÈݵÄÕæʵ¡¢×¼È·ºÍÍêÕû·¢±íÒâ¼û
±¾ÍйÜÈËÒÀ·¨¶Ô¹ã·¢»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾±àÖƺÍÅû¶µÄ¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ð2018Äê°ëÄê¶È±¨¸æÖвÆÎñÖ¸±ê¡¢¾»Öµ±íÏÖ¡¢ÀûÈó·ÖÅäÇé¿ö¡¢²ÆÎñ»á¼Æ±¨¸æ¡¢Í¶×Ê×éºÏ±¨¸æµÈÄÚÈݽøÐÐÁ˺˲飬ÒÔÉÏÄÚÈÝÕæʵ¡¢×¼È·ºÍÍêÕû¡£
6 °ëÄê¶È²ÆÎñ»á¼Æ±¨¸æ£¨Î´¾Éó¼Æ£©
6.1 ×ʲú¸ºÕ®±í
»á¼ÆÖ÷Ì壺¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ð
±¨¸æ½ØÖ¹ÈÕ£º2018Äê6ÔÂ30ÈÕ
µ¥Î»£ºÈËÃñ±ÒÔª
×ʲú
¸½×¢ºÅ
±¾ÆÚÄ©
2018Äê6ÔÂ30ÈÕ
ÉÏÄê¶ÈÄ©
-
×ʲú£º
-
-
ÒøÐдæ¿î
6.4.7.1
12,201,459.99
-
½áË㱸¸¶½ð
259,825.62
-
´æ³ö±£Ö¤½ð
26,532.62
-
½»Ò×ÐÔ½ðÈÚ×ʲú
6.4.7.2
170,942,802.47
-
ÆäÖУº¹ÉƱͶ×Ê
5,908,450.34
-
»ù½ðͶ×Ê
165,034,352.13
-
ծȯͶ×Ê
-
-
×ʲúÖ§³Ö֤ȯͶ×Ê
-
-
¹ó½ðÊôͶ×Ê
-
-
ÑÜÉú½ðÈÚ×ʲú
6.4.7.3
-
-
ÂòÈë·µÊÛ½ðÈÚ×ʲú
6.4.7.4
-
-
Ó¦ÊÕ֤ȯÇåËã¿î
29,093.22
-
Ó¦ÊÕÀûÏ¢
6.4.7.5
2,381.53
-
Ó¦ÊÕ¹ÉÀû
-
-
Ó¦ÊÕÉ깺¿î
858,113.24
-
µÝÑÓËùµÃË°×ʲú
-
-
ÆäËû×ʲú
6.4.7.6
147,383.20
-
×ʲú×ܼÆ
184,467,591.89
-
¸ºÕ®ºÍËùÓÐÕßȨÒæ
¸½×¢ºÅ
±¾ÆÚÄ©
2018Äê6ÔÂ30ÈÕ
ÉÏÄê¶ÈÄ©
-
¸ºÕ®£º
-
-
¶ÌÆÚ½è¿î
-
-
½»Ò×ÐÔ½ðÈÚ¸ºÕ®
-
-
ÑÜÉú½ðÈÚ¸ºÕ®
6.4.7.3
-
-
Âô³ö»Ø¹º½ðÈÚ×ʲú¿î
-
-
Ó¦¸¶Ö¤È¯ÇåËã¿î
-
-
Ó¦¸¶Êê»Ø¿î
283,118.63
-
Ó¦¸¶¹ÜÀíÈ˱¨³ê
6,674.33
-
Ó¦¸¶ÍйܷÑ
1,334.87
-
Ó¦¸¶ÏúÊÛ·þÎñ·Ñ
4,495.50
-
Ó¦¸¶½»Ò×·ÑÓÃ
6.4.7.7
32,145.72
-
Ó¦½»Ë°·Ñ
-
-
Ó¦¸¶ÀûÏ¢
-
-
Ó¦¸¶ÀûÈó
-
-
µÝÑÓËùµÃË°¸ºÕ®
-
-
ÆäËû¸ºÕ®
6.4.7.8
19,983.28
-
¸ºÕ®ºÏ¼Æ
347,752.33
-
ËùÓÐÕßȨÒ棺
-
-
ʵÊÕ»ù½ð
6.4.7.9
226,694,320.66
-
δ·ÖÅäÀûÈó
6.4.7.10
-42,574,481.10
-
ËùÓÐÕßȨÒæºÏ¼Æ
184,119,839.56
-
¸ºÕ®ºÍËùÓÐÕßȨÒæ×ܼÆ
184,467,591.89
-
×¢£º£¨1£©±¨¸æ½ØÖ¹ÈÕ2018Äê6ÔÂ30ÈÕ£¬¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓA»ù½ð·Ý¶î¾»ÖµÈËÃñ±Ò0.8121Ôª£¬»ù½ð·Ý¶î×ܶî192,864,846.41·Ý£»¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓC»ù½ð·Ý¶î¾»ÖµÈËÃñ±Ò0.8129Ôª£¬»ù½ð·Ý¶î×ܶî33,829,474.25·Ý£»×ܷݶî×ܶî226,694,320.66·Ý¡£
£¨2£©±¾»á¼ÆÆÚ¼äΪ2018Äê1ÔÂ2ÈÕ£¨»ù½ðºÏͬÉúЧÈÕ£©ÖÁ2018Äê6ÔÂ30ÈÕ¡£
6.2 ÀûÈó±í
»á¼ÆÖ÷Ì壺¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ð
±¾±¨¸æÆÚ£º2018Äê1ÔÂ2ÈÕ£¨»ù½ðºÏͬÉúЧÈÕ£©ÖÁ2018Äê6ÔÂ30ÈÕ
µ¥Î»£ºÈËÃñ±ÒÔª
씀¸½×¢ºÅ
±¾ÆÚ
2018Äê1ÔÂ2ÈÕ£¨»ù½ðºÏͬÉúЧÈÕ£©ÖÁ2018Äê6ÔÂ30ÈÕ
ÉÏÄê¶È¿É±ÈÆÚ¼ä
-
Ò»¡¢ÊÕÈë
-31,949,457.69
-
1.ÀûÏ¢ÊÕÈë
44,473.77
-
ÆäÖУº´æ¿îÀûÏ¢ÊÕÈë
6.4.7.11
38,074.34
-
ծȯÀûÏ¢ÊÕÈë
-
-
×ʲúÖ§³Ö֤ȯÀûÏ¢ÊÕÈë
0.00
-
ÂòÈë·µÊÛ½ðÈÚ×ʲúÊÕÈë
6,399.43
-
ÆäËûÀûÏ¢ÊÕÈë
-
-
2.Ͷ×ÊÊÕÒ棨ËðʧÒÔ¡°-¡±ÌîÁУ©
-1,408,391.74
-
ÆäÖУº¹ÉƱͶ×ÊÊÕÒæ
6.4.7.12
-287,414.94
-
»ù½ðͶ×ÊÊÕÒæ
6.4.7.13
-1,150,178.98
-
ծȯͶ×ÊÊÕÒæ
6.4.7.14
-
-
×ʲúÖ§³Ö֤ȯͶ×ÊÊÕÒæ
-
-
¹ó½ðÊôͶ×ÊÊÕÒæ
-
-
ÑÜÉú¹¤¾ßÊÕÒæ
6.4.7.15
-
-
¹ÉÀûÊÕÒæ
6.4.7.16
29,202.18
-
3.¹«ÔʼÛÖµ±ä¶¯ÊÕÒ棨ËðʧÒÔ¡°-¡±ºÅÌîÁУ©
6.4.7.17
-30,738,504.78
-
4.»ã¶ÒÊÕÒ棨ËðʧÒÔ¡°£¡±ºÅÌîÁУ©
-
-
5.ÆäËûÊÕÈ루ËðʧÒÔ¡°-¡±ºÅÌîÁУ©
6.4.7.18
152,965.06
-
¼õ£º¶þ¡¢·ÑÓÃ
175,162.88
-
1£®¹ÜÀíÈ˱¨³ê
31,492.40
-
2£®ÍйܷÑ
6,298.47
-
3£®ÏúÊÛ·þÎñ·Ñ
30,476.94
-
4£®½»Ò×·ÑÓÃ
6.4.7.19
86,391.17
-
5£®ÀûÏ¢Ö§³ö
-
-
ÆäÖУºÂô³ö»Ø¹º½ðÈÚ×ʲúÖ§³ö
-
-
6£®Ë°½ð¼°¸½¼Ó
-
-
7£®ÆäËû·ÑÓÃ
6.4.7.20
20,503.90
-
Èý¡¢ÀûÈó×ܶ¿÷Ëð×ܶîÒÔ¡°-¡±ºÅÌîÁУ©
-32,124,620.57
-
¼õ£ºËùµÃË°·ÑÓÃ
-
-
ËÄ¡¢¾»ÀûÈ󣨾»¿÷ËðÒÔ¡°-¡±ºÅÌîÁУ©
-32,124,620.57
-
6.3 ËùÓÐÕßȨÒ棨»ù½ð¾»Öµ£©±ä¶¯±í
»á¼ÆÖ÷Ì壺¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ð
±¾±¨¸æÆÚ£º2018Äê1ÔÂ2ÈÕ£¨»ù½ðºÏͬÉúЧÈÕ£©ÖÁ2018Äê6ÔÂ30ÈÕ
µ¥Î»£ºÈËÃñ±ÒÔª
씀±¾ÆÚ
2018Äê1ÔÂ2ÈÕ£¨»ù½ðºÏͬÉúЧÈÕ£©ÖÁ2018Äê6ÔÂ30ÈÕ
ʵÊÕ»ù½ð
δ·ÖÅäÀûÈó
ËùÓÐÕßȨÒæºÏ¼Æ
Ò»¡¢ÆÚ³õËùÓÐÕßȨÒ棨»ù½ð¾»Öµ£©
16,036,202.49
-
16,036,202.49
¶þ¡¢±¾ÆÚ¾Óª»î¶¯²úÉúµÄ»ù½ð¾»Öµ±ä¶¯Êý£¨±¾ÆÚÀûÈó£©
-
-32,124,620.57
-32,124,620.57
Èý¡¢±¾ÆÚ»ù½ð·Ý¶î½»ÒײúÉúµÄ»ù½ð¾»Öµ±ä¶¯Êý£¨¾»Öµ¼õÉÙÒÔ¡°-¡±ºÅÌîÁУ©
210,658,118.17
-10,449,860.53
200,208,257.64
ÆäÖУº1.»ù½ðÉ깺¿î
259,114,880.71
-14,550,802.25
244,564,078.46
2.»ù½ðÊê»Ø¿î
-48,456,762.54
4,100,941.72
-44,355,820.82
ËÄ¡¢±¾ÆÚÏò»ù½ð·Ý¶î³ÖÓÐÈË·ÖÅäÀûÈó²úÉúµÄ»ù½ð¾»Öµ±ä¶¯£¨¾»Öµ¼õÉÙÒÔ¡°-¡±ºÅÌîÁУ©
-
-
-
Îå¡¢ÆÚÄ©ËùÓÐÕßȨÒ棨»ù½ð¾»Öµ£©
226,694,320.66
-42,574,481.10
184,119,839.56
±¨±í¸½×¢Îª²ÆÎñ±¨±íµÄ×é³É²¿·Ö¡£
±¾±¨¸æ6.1ÖÁ6.4£¬²ÆÎñ±¨±íÓÉÏÂÁиºÔðÈËÇ©Êð£º
»ù½ð¹ÜÀíÈ˸ºÔðÈË£ºËïÊ÷Ã÷£¬Ö÷¹Ü»á¼Æ¹¤×÷¸ºÔðÈË£ºñ¼¸Õ£¬»á¼Æ»ú¹¹¸ºÔðÈË£ºÕÅÏþÕÂ
6.4 ±¨±í¸½×¢
6.4.1 »ù½ð»ù±¾Çé¿ö
¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ð£¨¡°±¾»ù½ð¡±£©¾Öйú֤ȯ¼à¶½¹ÜÀíίԱ»á£¨¡°ÖйúÖ¤¼à»á¡±£©Ö¤¼àÐí¿É¡²2016¡³3127ºÅ¡¶¹ØÓÚ×¼Óè¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ð×¢²áµÄÅú¸´¡·ºË×¼£¬Óɹ㷢»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾ÒÀÕÕ¡¶ÖлªÈËÃñ¹²ºÍ¹ú֤ȯͶ×Ê»ù½ð·¨¡·¡¢¡¶¹«¿ªÄ¼¼¯Ö¤È¯Í¶×Ê»ù½ðÔË×÷¹ÜÀí°ì·¨¡·µÈÓйع涨ºÍ¡¶¹ã·¢ÖÐÖ¤´«Ã½½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð·¢ÆðʽÁª½Ó»ù½ð»ù½ðºÏͬ¡·£¨¡°»ù½ðºÏͬ¡±£©·¢Æð£¬ÓÚ2017Äê11ÔÂ30ÈÕÏòÉç»á¹«¿ª·¢ÐÐļ¼¯²¢ÓÚ2018Äê1ÔÂ2ÈÕÕýʽ³ÉÁ¢¡£±¾»ù½ðµÄ»ù½ð¹ÜÀíÈËΪ¹ã·¢»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾£¬»ù½ðÍйÜÈËΪÖйú¹¤ÉÌÒøÐйɷÝÓÐÏÞ¹«Ë¾¡£
±¾»ù½ðļ¼¯ÆÚ¼äΪ2017Äê11ÔÂ30ÈÕÖÁ2017Äê12ÔÂ22ÈÕ£¬ÎªÆõÔ¼ÐÍ¿ª·Åʽ»ù½ð£¬´æÐøÆÚÏÞ²»¶¨£¬Ä¼¼¯×ʽð×ܶîΪÈËÃñ±Ò16,036,202.49Ôª£¬ÓÐЧÈϹº»§ÊýΪ456»§¡£ÆäÖй㷢ÖÐÖ¤´«Ã½ETFÁª½ÓAÀà»ù½ð£¨¡°AÀà»ù½ð¡±£©¿Û³ýÈϹº·ÑÓúóµÄļ¼¯×ʽ𾻶îΪÈËÃñ±Ò12,940,754.04Ôª£¬ÈϹº×ʽðÔÚļ¼¯ÆÚ¼äµÄÀûϢΪÈËÃñ±Ò1,573.04Ôª£»¹ã·¢ÖÐÖ¤´«Ã½ETFÁª½ÓCÀà»ù½ð£¨¡°CÀà»ù½ð¡±£©¿Û³ýÈϹº·ÑÓúóµÄļ¼¯×ʽ𾻶î3,093,746.41Ôª£¬ÈϹº×ʽðÔÚļ¼¯ÆÚ¼äµÄÀûϢΪÈËÃñ±Ò129.00Ôª£¬°´ÕÕ»ù½ðºÏͬµÄÓйØÔ¼¶¨¼ÆÈë»ù½ð·Ý¶î³ÖÓÐÈ˵Ļù½ðÕË»§¡£±¾»ù½ðļ¼¯×ʽð¾µÂÇÚ»ªÓÀ»á¼ÆʦÊÂÎñËù£¨ÌØÊâÆÕͨºÏ»ï£©Ñé×Ê¡£
¸ù¾Ý¡¶ÖлªÈËÃñ¹²ºÍ¹ú֤ȯͶ×Ê»ù½ð·¨¡·¡¢¡¶¹«¿ªÄ¼¼¯Ö¤È¯Í¶×Ê»ù½ðÔË×÷¹ÜÀí°ì·¨¡·ºÍ»ù½ðºÏͬµÈÓйع涨£¬±¾»ù½ðÒÔÄ¿±êETF»ù½ð·Ý¶î¡¢±êµÄÖ¸Êý³É·