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澳门电子游戏网址大全:Western style MSCI index you understand?

时间:2018/2/2 18:18:40  作者:  来源:  浏览:0  评论:0
内容摘要: Up to five years from 2013 to 2017, the authorities have made tremendous efforts to enable MSCI to accept China A Shares. \n? On June 1, 20...

Up to five years from 2013 to 2017, the authorities have made tremendous efforts to enable MSCI to accept China A Shares.

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On June 1, 2018, A shares will officially be included in the MSCI Emerging Markets Index and the MSCI ACWI Global Index. Many institutional and professional investors are also very optimistic about the 2018 MSCI Emerging Markets Index.

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According to MSCI's relevant statistics, after China A shares are included in the MSCI Emerging Markets Index, a short-term capital inflow of US $ 170-180 billion is expected. According to MSCI's progress, China's A-share market will eventually be fully included in the emerging market index. Will be in the medium and long term will bring more than 2 trillion yuan of growth funds.

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The MSCI index system is huge. It has also favored China's stock market. It has set more than 240 indices to cover the Chinese market. The names of these indices are foreign, but it is easy to make people silly can not tell, the author sorted out a few common indexes today.

\n?MSCI China Index

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This is the MSCI's flagship index covering China, which is also China's flagship for overseas mainstream investors.

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It has been prepared in accordance with the MSCI Global Investable Market Index (GIMI) methodology and is part of the MSCI Global Investable Markets Index System.

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Although the name of the index contains the word "China", it does not cover the A shares of the Shanghai and Shenzhen stock markets. Currently, the MSCI China Index only includes Chinese companies listed overseas, mainly in Hong Kong. This is the best performance of last year's China indices are concept stocks and Hong Kong stocks, which is the largest constituent stocks for Tencent, the second largest constituent stocks Alibaba , followed Construction Bank , Baidu , China mobile , Commercial Bank of China Ping An , , Bank of China , Netease , Jingdong .

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澳门电子游戏网址大全:Western_style_MSCI_index_you_understand?

It is expected that with the opening up of the capital markets, A shares will eventually be included in the index, which means that more and more global funds will allocate A shares. According to the past, other emerging markets are included MSCI index or weight of the local stock market will rise significantly after the situation, the future of MSCI China index into the A shares, and the A share of the rising weight will promote the A-share market rose .

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So, this index is the best asset in China that is universally acknowledged. Unfortunately, there is currently no fund tracking this index.

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2, MSCI China A Index (MSCI CHINA A Index Code: 133333)

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The equivalent of CSI 300 Expanded version of the index.

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MSCI China A Index constituent stocks range from all A shares, intercepting the top 85% of the circulating market capitalization, a total of 870 A shares.

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But it is a mere INDI that can not be a component of the Emerging Markets Index, an independent country index MSCI created in 2005 specifically for China's A-share market, mainly for domestic investors and has not been included in the MSCI Emerging Market Index List. So in fact it is a "stand-alone version."

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This index does not take into account the investment restrictions of overseas investors, while domestic institutions mostly follow the index of domestic index companies, that is to say, "others can not play and do not like to play" so the funds for tracking this index are small in scale.

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Top 10 list of constituents:

\n?It is reported that the MSCI China A Index will be renamed "MSCI China A Share Onshore Index" in 2018 and a new "MSCI China A Index" will be released to track only the interconnection and interception of individual stocks.

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Currently, index funds that track the MSCI theme index exist in the market tracking the MSCI China A Index.

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澳门电子游戏网址大全:Western_style_MSCI_index_you_understand?

In addition, there are still some active funds to benchmark the performance of the MSCI China A-share index.

\n?MSCI China A International Index (index number: 704843)
澳门电子游戏网址大全:Western_style_MSCI_index_you_understand?

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A shares into the MSCI Ultimate Edition.

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The MSCI China A International Index ranks 85% of all Chinese stocks listed in the world by market capitalization. The top 85% of constituents of the A-share market form the constituents of the index, a total of 450 Only A shares.

\n?Top Ten Constituents:

\n?267 stocks of which 267 stocks simultaneously selected for the Shanghai and Shenzhen 300 Index, covering the Shanghai and Shenzhen 300 Index constituent stocks weighing 96%.

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Compared with the Shanghai and Shenzhen 300 Index, the MSCI China A International Index is more scattered in the constituent stocks. The top ten heavyweights accounted for 17.47% of the total index, significantly lower than the Shanghai and Shenzhen 300 Index (23.53%), the top three The weight of the industry component is 35%, which is also significantly lower than the CSI 300 Index (40.81%).

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澳门电子游戏网址大全:Western_style_MSCI_index_you_understand?

MSCI China A International Index is included as the ultimate version of MSCI in A shares. Its constituents can directly receive international incremental funding and continue to receive the attention of international investors.

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At present, the first index fund tracking this index is Chongjin MSCI China A International Index Fund, which was launched on January 9, 2018. The manager of the fund is Chen Long, and served in China Financial Futures Exchange and China Medium Card Index Co., Ltd., has a long rich index and financial derivatives research investment experience.

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Earlier this year, a quantitative fund was established as early as 2016 Invesco The Great Wall quantified the new impetus by limiting its stock selection to the MSCI China A International Index. With the method of quantitative stock selection, 54.10% Income.

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澳门电子游戏网址大全:Western_style_MSCI_index_you_understand?

MSCI China A-share market of the provisional international MSCI index was part of China's A-share Index International, screened by the international MSCI China A Index constituent stocks in the broader market stocks constitute more than 220, which is more than 220 large-cap stocks, that is, Is really part of the MSCI Emerging Markets Index to be included in June 2018.

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Follow-up With the gradual increase in the inclusion ratio, there will be a certain degree of adjustment of this index constituent stocks, continue to add A-share small-cap stocks.

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4, MSCI China A International Index

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According to the latest plan released by MSCI, the MSCI China A International Market Interim Indices will expire in June 2018 and the MSCI China A International Complaints Index will serve as a continuation of the MSCI China A International Interim Indices. By June 2018, the two indices will be in parallel and the constituents will be in line.

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Therefore, the constituent stocks of the MSCI China A International Index that are released this time are the A shares to be included in the MSCI Emerging Markets Index in 2018, and the release of the Global Communications Index will be formally included in the "front runners" for the future as well as for the market The important reference index.

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Moreover, with the development and deepening of the A-share market, MSCI may further enhance the A Share inclusion ratio in the MSCI Emerging Markets Index in the future, and the MSCI China A International Index will also be followed by more than 220 large-cap stocks Based on the continued inclusion of small cap stocks in A shares. By then, more A-share stocks will be connected with the international market, and the A-share market's international influence will also gradually increase.

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MSCI Investment Opportunities

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Public funds are targeting the MSCI investment opportunities, with the A shares is included in the MSCI date approaching, a lot of public funds Fund companies have begun intensive layout MSCI theme funds.

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As of January 23, a total of 11 fund companies declared 23 MSCI theme funds. Among them, Invesco Great Wall Fund declaration is large, to declare six MSCI theme fund products, followed by Ping An-UOB Fund and CCB Principal Asset were declared four and three MSCI theme fund products, have two products to declare Southern Fund , Hua an Fund, E Fund , , investment fund Xinhua Fund , CCB, Hua Tai Borui fund and other products have a declaration. It is reported that there are a number of fund companies plan to launch MSCI theme funds.

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From the product category, the declared MSCI theme funds are mostly exponential . For example, E-Fund's MSCI China A International Trading ETF, Ping An Insurance's MSCI China A Low Fluctuation Trading Open-end Index Funds, etc., as well as some fund companies to declare the joint funds and sponsors.

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A shares formally incorporated into the MSCI Emerging Markets Index, the market participants may also be positive changes occur, as the proportion of institutional investors will gradually increase, when retail investors increasingly trust institutional investors such as fund companies, the proportion of institutional investment increased Will be more conducive to market stability. It can be expected that, with the improvement of A-share supervision, the transparency of the market and the maturity of investors, exponential investment will usher in a new era of accelerated development and popularization in the Chinese market.


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