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中國基石經濟

2803 (港元) | 9803 (美元)

以基本面多元因子策略捕捉推動中國實體經濟改革升級的優質藍籌企業

# A股# 智能貝塔# 多因子# 價值# 低波動# 規模# 質量
中國新經濟

3173 (港元) | 9173 (美元)

以基本面多元因子策略把握新經濟轉型增長驅動力,高效配置消費、科技、醫療健康等新經濟領域

# A股# 新經濟# 新基建# 十四五# 高質量增長# 2060碳中和
中國科創50

3151 (港元) | 83151 (人民幣) | 9151 (美元)

以技術創新為基礎的領先企業在上證科創板上市

# A股# 科創板# 半導體# 人工智能# 生物科技# 2060碳中和
亞洲創新科技及元宇宙

3181 (港元) | 9181 (美元)

以高效便捷的方式投資亞洲互聯網科技、人工智能、機器人自動化、生物醫療科技等創新前沿

# 智能電動車# 人工智能# 機器人# 自動化# 5G# 電子競技# 半導體
新興東盟市場

2810 (港元) | 9810 (美元)

以相宜成本捕捉馬來西亞、泰國、印尼、菲律賓和越南等高成長市場的領先龍頭企業投資機會

# 越南# 泰國# 馬來西亞# 菲律賓# 印尼
越南市場

2804 (港元) | 9804 (美元)

全球首隻追蹤標普越南核心指數的實物ETF,有效獲取高速增長的越南市場機遇。

# 供應鏈# 中產階級# 消費升級
中國長久期政府債券 (非對沖)

2817 (港元) | 82817 (人民幣) | 9817(美元)

首檔證監會認可的高收益債券ETF,以一籃子多樣化有抵押及高級優先債權的中國房地產美元債券,獲取可觀的美元收益

# 中國債券# 長久期# 政府債券# 人民幣# 指數納入# 美元對沖
中國房地產美元債

3001 (港元) | 83001 (人民幣) | 9001(美元)

透明且低成本的獨特市場投資工具,協助投資者高效便利地投資於長久期中國政府債券

# 中國債券# 高息債# 美元債券# 國際評級機構信用評級# 不含次級債券或地方政府債
美國國庫浮息票據 (分派)

3077 (港元) | 9077 (美元)

投資流動性好、國債信用評級、久期短、利率風險極低的美國國庫浮息票據;總費率僅0.15%

# 國庫券# 一周存續期# 稅務效率
亞洲(日本除外)投資級別美元債NEW

3411 (港元) | 9411 (美元)

投資流動性好、國債信用評級、久期短、利率風險極低的美國國庫浮息票據;總費率僅0.15%

# 亞洲〔日本除外〕# 投資級別債券# 美元債券# 無美國預扣稅# 不含額外一級資本債券(AT1)# 不含應急可轉債 (Coco)

以高效便捷的方式投資亞洲互聯網科技、人工智能、機器人自動化、生物醫療科技等創新前沿

# 人工智能# 半導體# 電子產品# 高科技製造生態系統# 具吸引力股息

精選觀點 & Webinar

2025 Market Outlook Part 1 - US Outlook: Cyclical peak valuations amidst heightened secular risks
insight2025 Market Outlook Part 1 - US Outlook: Cyclical peak valuations amidst heightened secular risks

US equities sentiment is now maximum bullish despite great policy uncertainties – altogether posing considerable risk to late-cycle momentum chasers. The US economy had barely cooled down before it was stimulated by 100 basis points in rate cuts in just three months from September 2024. The cuts started just when the US economy was rebounding. More importantly, they came after US inflation started picking up again. In fact, the US stock market is now in the grip of “Trumpian euphoria” because market expects the incoming administration will likely be supportive of even stronger growth, through more debt and deficits and extreme economic nationalism. The imminent risk now is that the US will have to pay more for its borrowings despite its dominance of the global debt market. This is not about other countries bypassing the Dollar in trade. It is about inflation – which will likely be worsened by President-elect Trump’s inflationary policies – and the term premia. In this article, our Senior Advisor Say Boon Lim discusses why US equities are in a bubble, drivers behind the Trumpian Euphoria 2.0, and that the stubborn or even revived inflation are credible risks in 2025.

Dec 24, 2024

How strong EV sales growth and battery technology advances strengthen dominance by Chinese battery makers
insightHow strong EV sales growth and battery technology advances strengthen dominance by Chinese battery makers

The latest developments in the battery industry continue to favour the world’s biggest players. Apart from their gains from the robust growth in EV sales, the latest developments in battery technology also work in their favour, given their significant investments in R&D spending. Over the next five years or so, lithium iron phosphate (LFP) and ternary (NCM) lithium batteries will remain the mainstream products in the mass and high-end segments respectively. These are the products that CATL and BYD lead globally. Beyond that, CATL and BYD are already moving rapidly in the area of solid-state batteries (SSBs), a potentially disruptive technology. In this article, we discuss about why the Chinese battery makers will continue to dominant the global market and benefit from their technological advancements that revolutionize the energy storage landscape.

Nov 15, 2024

China A-shares Q3 2024 factor review
insightChina A-shares Q3 2024 factor review

The third quarter ended with a bang for mainland Chinese stocks, as twin announcements from China’s central bank and top fiscal policymakers gave both foreign and domestic investors plenty to think about over an extended market holiday during China’s October Golden Week. In this insight, Dr. Phillip Wool, Global Head of Research of Rayliant Global Advisors, explores the shift in sentiment that sent the onshore China markets higher for the quarter, breaking down the economic implications of a renewed and forceful stimulus push, the factor drivers of Q3 equity performance, and the data investors should be looking forward to as 2024 draws to a close.

Nov 15, 2024

The case for Taiwan: Premia FTSE TWSE Taiwan 50 ETF as efficient implementation tool for allocators
insightThe case for Taiwan: Premia FTSE TWSE Taiwan 50 ETF as efficient implementation tool for allocators

Further to the insight piece on “Taiwan: The Quiet World-Beater” shared by our Senior Advisor Say Boon Lim, in this article we share more about our new ETF Premia FTSE TWSE Taiwan 50 ETF, which covers the 50 largest flagship companies in Taiwan by market capitalization. The strategy aims to capture the strong market performance from the robust growth in demand for semiconductors and the broader economic growth activities in Taiwan in the coming years. It is designed as a low-cost, tax efficient access tool, with versatility of having both HKD (distributing) and USD (accumulating) unit classes.

Oct 09, 2024

Asian investment grade bonds: the overlooked sweet spot for allocators
insightAsian investment grade bonds: the overlooked sweet spot for allocators

As the US Fed rate cut gets imminent, the liquid Asia credit market also is set to benefit from a number of strong tailwinds. In addition to favourable macroeconomic fundamentals, the heterogenous region also offers benefits of broad geographic diversification benefits and positive reinforcement from continued market liberalization and more investor friendly reforms. Within this space, Asian investment grade (IG) bonds also enter a favourable “Goldilocks” scenario in particular, represent a sweet spot that international allocators sometimes overlook, offering meaningfully higher yields, better credit ratings, and shorter duration than their peer IG cohorts from the US and Europe.

Sep 16, 2024

China’s East Data West Computing Initiative (II) – Energy Storage Systems and Smart Grids as the Final Mile in AI-Race
insightChina’s East Data West Computing Initiative (II) – Energy Storage Systems and Smart Grids as the Final Mile in AI-Race

Given the inextricable links between energy-hungry Artificial Intelligence and renewables, energy storage and smart grids are a necessary “final mile solution” in the intensifying AI race. They provide the critical capability to store and dispatch huge quantities of uninterrupted renewable energy/power on demand without compromising emission reduction targets. In this regard, China is uniquely positioned to tackle the related challenges of AI and renewable energy with its rapid development and upgrades of energy storage systems and smart grids. In fact the country has long been studying intertwined strategic relationship between AI, technology and energy, and studiously incorporate such thinking into its Five Year Plans, and which are subsequently being rolled out as China’s East Data West Computing initiative. Further to our recent insight on China’s “power infrastructure” as the critical enabler for AI-development, in this article, we zoom in on China’s capabilities and investment opportunities in energy storage as the linchpin that holds the last mile solution, and matches renewable energy production with industrial demand in China’s journey to a high-tech, modern society.

Sep 11, 2024

Premia 圖說

Asian USD IG bonds show superiority over the US Treasuries
  • 朱荣熙

    朱荣熙

Asia Investment Grade (IG) USD bonds continued to demonstrate more resilience performance compared to US Treasury bonds, which have not shown a significant rebound even as the MOVE index has substantially declined back to its year-low levels after the US presidential election. This trend may be attributed to ongoing investor concerns regarding the uncertainties that President-elect Trump may bring starting in January. In contrast, investors increasingly view Asia IG bonds as a safe choice, as evidenced by the narrowing spread against US Treasury bonds, which has reached the lowest level in the last decade. The spread may have room to tighten further as China shifts to a “moderately loose” monetary policy and expands fiscal spending, likely leading to lower local bond yields. This environment enhances the attractiveness of Asia IG USD bond yields. Diversifying a bond portfolio with Asia IG USD bonds may not only reduce volatility but also enhance returns. For those interested in including Asia IG bonds in their portfolios, our Premia J.P. Morgan Asia Credit Investment Grade Bond ETF, featuring a low expense ratio of just 0.23% per annum, stands out as a viable investment vehicle.

Dec 20, 2024

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