《大行報告》中金:內地公募基金次季持有港股市值按季增27% 南向資金今年來累計流入逾1,700億人幣
中金發表內地公募基金於今年第二季的港股投資報告表示,指5月中以來,港股逐步企穩修復,相比同期海外市場呈現一定韌性。除了政策利好和較低估值的底部修復外,在海外資金尚未明顯回流的背景下,也得益於南向資金的持續流入。該行料可投資港股的內地公募數量與規模於今年第二季小幅回暖,但新發依然疲軟。
截至第二季度,內地可投港股公募基金(扣除QDII)總計2,443隻,總資產3.4萬億人民幣,佔全部9,677隻非貨幣基金和16.3萬億人民幣總規模的25.2%和20.5%,較一季度增加108隻和2,403億人民幣。其中主動偏股型基金1,353隻(規模2.19萬億人民幣),較一季度增加52隻和1,727億人民幣。另有193隻指數型基金(含ETF),規模1,727億人民幣。但是受二季度市場環境影響,新發依然疲軟,第二季度月均新發基金16隻、規模131億人民幣,明顯低於一季度的84隻和515億元人民幣。
中金指,上述2,443隻內地公募基金持有港股市值4,042億人民幣,較第一季度的3,180億人民幣增長27%,逆轉了去年三季度以來的下行趨勢。港股持倉佔股票總持倉的17.1%,較今年首季的15.2%增長1.9個百分點。參考同期港股主要基準指數的表現,表明可能存在一定的主動加倉行為。進一步看,主動偏股型基金持倉3,049億人民幣較 今年首季增長26.8%,佔比從14.3%提升至15.8%。此外,公募持股佔南向比例也有回升,佔到1.9萬億人民幣南向整體持股市值的21.7%,對比第一季度的18.8%上升2.9個百分點,其中主動偏股型基金佔港股通16.4%。
具體到個股,美團-W(03690.HK)、李寧(02331.HK)、藥明生物(02269.HK)、理想汽車-W(02015.HK)、快手-W(01024.HK)是二季度增持和南向資金流入最多的個股。美團、騰訊(0700.HK)、李寧、港交所(00388.HK)等龍頭為第二季度仍是重倉,青島啤酒(00168.HK)為新增重倉,金蝶國際(00268.HK)則跌出前十大重倉個股。
年初以來,儘管港股出現較大波動,但南向資金一直保持整體流入態勢。今年以來,南向資金累計流入1,755億人民幣,具體到二季度,港股通南向淨流入總規模為942億人民幣,日均流入17.8億人民幣。往前看,預計港股的估值比較優勢、以及國內整體依然相對寬鬆的流動性環境仍有望支撐南向資金持續流入,而這在未來一段時間海外資金暫時難以大幅回流的情況下可能仍將是港股的主要驅動力。(wl/k)
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