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On May 17, China Securities Index Co., Ltd. announced that it will officially release the CSI 500 dividend low volatility Index, CSI 800 dividend low volatility Index and CSI 1000 dividend low volatility Index on May 21.
Since the beginning of this year, with the popularity of the high dividend sector in the secondary market, the market recognition of dividend indexed investment has been increasing. Industry insiders believe that with the continuous improvement of the system, listed companies pay more attention to dividends, A-share dividend is a long-term trend, dividend strategy is expected to continue to be widely concerned by the market.
Three dividend low volatility indices released on May 21
According to reports, China Securities Index Co., Ltd. will release three dividend low volatility indexes on May 21. The securities with continuous dividends, high dividend yield and low volatility are selected as index samples from the samples of CSI 500,800 and 1000 respectively, reflecting the overall performance of securities of listed companies with high dividend and low volatility in the corresponding index samples.
Among them, the number of dividend low volatility index samples is 50, and the number of dividend low volatility index samples of CSC 800 and CSI 1000 is 100.
Different from other dividend indexes, the dividend low wave index also incorporates the low volatility factor on the basis of the high dividend factor, that is, while paying attention to the dividend quality of enterprises, we should also pay attention to avoid volatile stocks. Market participants believe that this makes the dividend low volatility index has a strong risk defense capability.
Up to now, China Securities Index Co., Ltd. has issued more than 80 dividend indexes, and the scale of products at home and abroad has exceeded 83 billion yuan, including 14 dividend low-wave indexes, and the product scale has exceeded 28 billion yuan. China Securities Index Co., Ltd. said that the next step will continue to enrich and improve the multi-level dividend index system, help dividend indexation investment ecological construction, and provide more diversified investment targets and performance benchmarks for investors' medium-and long-term allocation needs.
The secondary market of dividend assets is popular.
Since the beginning of this year, the high dividend sector has become a "hot cake" in the eyes of investors, with a strong trend, indicating that the dividend strategy has been more widely recognized in the market.
From the perspective of index performance, the dividend index, which specializes in high dividend style stocks, has risen significantly higher than the A-share market so far this year, winning the favor of investors. As of the close on May 17, the CSI 300 dividend index has risen 16% since 2024.Crashbandicootlatestgame.39%, much better than the CSI 300 index over the same period; the Shanghai dividend index rose 15%Crashbandicootlatestgame.83%, also better than the performance of the Shanghai Composite Index in the same period.
"in the past few years, dividend assets have shown very good risk-return characteristics, with relatively small fluctuations and returns significantly higher than other assets." Jiang Yong, general manager of the mixed asset investment department of Haifutong Fund, said, "from a cyclical perspective, the current dominant dividend strategy has lasted for two years." The dividend strategy will still be dominant in the next 1-2 years. "
Yang Kun, manager of Wanjia China Securities dividend ETF Fund, said that the dividend strategy has very distinct risk-return characteristics, long-term stability and low volatility, which is very suitable for long-term allocation as equity positions.
The scale of dividend indexed investment is growing rapidly.
With the release of the new "National Nine articles", the popularity of dividend strategy is heating up again.
Specifically, the new "National Nine articles" proposes to strengthen the supervision of cash dividends of listed companies, take certain restrictive measures for companies that have not paid dividends for many years or have a low proportion of dividends, and increase incentives for high-quality companies that share dividends. We will enhance the stability, persistence and predictability of dividends, and promote multiple dividends in a year, pre-dividends, and dividends before the Spring Festival.
Industry insiders believe that this move will further promote the dividend level of A-share listed companies and provide a solid soil for the long-term development of domestic dividend indexed investment.
Under the guidance of the policy, the dividend level and dividend quality of A-share companies have continued to improve in recent years. Data show that by the end of April 2024, the total cash dividend of A-share companies in 2023 exceeded 2.2 trillion yuan, a record high. The number of companies paying cash dividends for five years in a row and more than 10 years in a row exceeded 1800 and 750respectively, an increase of 48 per cent and 78 per cent respectively over five years ago.
Benefiting from the continuous improvement of dividends of listed companies, the scale of domestic dividend indexed investment has ushered in rapid growth. At present, there are about 87 dividend index public funds in China, with a total size of 93.5 billion yuan, with an annualized growth rate of 50% in the past five years. At the same time, the diversification of domestic dividend indexation investment strategy is increasing. The product scale of dividend multi-factor strategy index represented by dividend low wave index reaches 37.4 billion yuan, accounting for 40% of dividend index product scale.
Review: Xu Jinzhong
Editor: ya Wenhui
