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Premia 觀點洞察
Premia 觀點洞察
分享投資見解、洞察行業熱點、探討學術研究

精選觀點 & Webinar

How factors have performed in China A shares - roller coaster or Ferris wheel?
insightHow factors have performed in China A shares - roller coaster or Ferris wheel?

As the issuer of world’s first two fundamental multifactor China A-shares ETFs, we look closely into the factors. The China A shares market went on a roller coaster ride since late 2018, and how about the factors – are they on the same ride or rotating around a Ferris wheel? In this piece, we re-cap the research on China A fundamental factors and share the recent observations on factor performances.

Jun 03, 2019

Premia China New Economy: an improvement over ChiNext
insightPremia China New Economy: an improvement over ChiNext

Investors looking for China’s NASDAQ seem to have settled on ChiNext as the default index to follow. BUT what if there is an even better option in the market, offering a more appropriate China new economy exposure with better performance, higher quality, lower volatility and discounted valuations?! It may sound too good to be true, but it is exactly what the Premia China New Economy ETF (3173.HK) has achieved so far.

May 20, 2019

How easy & cheap are Premia ETFs to trade vs alternatives?
insightHow easy & cheap are Premia ETFs to trade vs alternatives?

Most investors assume that the more liquid the ETF, the easier and cheaper it is to trade. This is true in markets like the US, where on-screen liquidity is prevalent, but Asia markets are not as straightforward. China A ETFs with on-screen liquidity are easy to trade, but easier does not always mean cheaper to trade. There is market risk in trading on-screen and though it is easier, it can actually be more expensive than trading via the underling liquidity of China A stocks inside the ETF.

May 16, 2019

Does trade war détente mean ASEAN equity underperformance?
insightDoes trade war détente mean ASEAN equity underperformance?

ASEAN equity markets have underperformed so far this year. Is it the start of a new trend, or simply a blip given the strong reversal in China? Say Boon Lim shares his views on why ASEAN is likely to outperform going forward.

May 06, 2019

Nasdaq vs Asia Innovative Tech – what you need to know about innovation in Asia
insightNasdaq vs Asia Innovative Tech – what you need to know about innovation in Asia

Nasdaq has made new highs and investors are understandably excited. Similarly, here in Asia we have seen innovative technology companies outperform YTD but with much less fanfare. David Lai explores the major megatrends in Asia and why you need to invest in tech leaders across this region.

May 03, 2019

Where next for global equities?
insightWhere next for global equities?

Looking past stellar Q1 returns, we discuss positioning going forward and the need to navigate the conflicting signals offered by equity and bond markets today

Apr 10, 2019

Has China-A fully priced in the MSCI inclusion? Not yet.
insightHas China-A fully priced in the MSCI inclusion? Not yet.

With the CSI300 up ~25% YTD, many clients are worried that the market has fully priced in the MSCI inclusion. We review 5 flawed assumptions and explain why the rally is just the start of a long-term trend.

Mar 26, 2019

The Chinese Economy’s 5 Biggest Myths
insightThe Chinese Economy’s 5 Biggest Myths

As China markets reacted to expansionary policy news, familiar criticism of China’s debt and leverage concerns has begun to emerge from global investors. Separating myths from reality, our advisor Say Boon Lim shares his thoughts on the 5 biggest myths about China’s economy.

Mar 13, 2019

Good news may be bad news – look ahead not backwards
insightGood news may be bad news – look ahead not backwards

So far in 2019, markets have moved positively and our worst fears from Q4 remain unfounded. However, investors should not be complacent and interpret this period of good news as predictive of the rest of 2019. Markets are likely to again fear the future. In this week’s post, our advisor Say Boon Lim shares his thoughts about the current period of benign market activity.

Feb 18, 2019

Emerging ASEAN and Asia Innovation, 6 months after launch
insightEmerging ASEAN and Asia Innovation, 6 months after launch

As we pass the 6-month anniversary of our latest ETFs, we review their performance since launch, the underlying story behind the exposures and the potential for returns going forward.

Feb 13, 2019

Premia 圖說

Chinese SOEs may be worth revisiting
  • 朱榮熙

    朱榮熙

Chinese state-owned enterprises (SOEs) may gain traction again amid Chinese government’s commitment to stabilize the capital market, market value management implementation, and attractive yield against the government bonds. Central Huijin, often considered to be the national team, is approved by CSRC to be the new controlling shareholders of 8 small to mid-size financial companies, with an aim to stabilize the capital market and mitigate potential risks. Investors are also anticipating further policy support for the financial sector, expected to be announced at the Lujiazui Forum in Shanghai. This led to the strong capital inflow to nonbanking financials and outperformance of the sector. Moreover, a couple of SOEs have revealed their market value management plans or valuation improvement plans. Local brokers believed this trend will continue and gain momentum in the rest of this year, leading to the revaluation of these SOEs. On the short-term yield, China’s one- and three-year bonds fell to a four-month low due to heavy purchases of state banks. Onshore traders speculated that the PBOC was involved in the purchases. The PBOC’s potential purchases is one of the tools to bring liquidity to the market. As the bond yield drops and liquidity increases, the relatively higher SOE’s dividend yield would look appealing to investors, further supporting their share prices. To capitalize the above trend and diversify from growth related stocks, investors may consider our Premia CSI Caixin China Bedrock Economy ETF, which places a significant emphasis on SOEs, accounting for over 70% of its portfolio, benefiting from the government support and the potential high dividend yield.

Jun 16, 2025

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