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:"fund","areaCode":"cn","market":"a","tickerId":12761,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-17T17:12:01.619Z","status":"normal","exchange":"jj","name":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金","fundCollectionId":4000050440000,"followedNum":55,"inceptionDate":"2021-11-14T16:00:00.000Z","masterFundShortName":"华泰柏瑞红利ETF联接A/C","memoNum":11,"setUpDate":"2021-11-14T16:00:00.000Z","setUpAssetScale":49758756.52,"setUpShares":49758756.52,"pinyin":"htbrszhljyxkfszszqtzjjljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000015,"managers":[{"stockCode":"db20721130","stockType":"fund_manager","exchange":"fm","tickerId":1217192200,"name":"李茜"}]},"announcement":{"linkText":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金2025年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1278513","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecf917fea5b3eb04fee64","date":"2024-12-30T16:00:00.000Z","stockId":3000000012761,"sao":"2024年市场以结构性机会为主，其中银行、非银金融、通信、家用电器的表现相对较好，涨跌幅分别为34.39%、30.17%、28.82%和25.44%。整体来看，沪深300、中证500、中证1000和创业板指的涨跌幅分别为14.68%、5.46%、1.20%和13.23%。从市场风格来看，期间沪深300价值指数和沪深300成长指数的涨跌幅分别为24.85%和4.24%，中证500价值相对中证500成长获得了超额收益。　　回顾2024年，在受到内外经济复苏不确定性、地缘政治风险以及美联储货币政策等因素的影响下，呈现出较为震荡的走势。总体上，上证红利全收益指数上涨21.3%，相较市场整体超额收益明显。　　我们严格按照基金合同的规定，紧密跟踪标的指数、跟踪偏离最小化的投资策略进行被动投资。本报告期内，本基金的日均绝对跟踪偏离度为0.040%，期间日跟踪误差为0.078%，较好地实现了本基金的投资目标。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:01.230Z","mo":"展望2025年，短期看，政策延续性、需求与物价情况、外部环境（美联储政策、地缘风险）仍将是影响市场的关键因素。虽然面临扰动，但投资者风险偏好在政府一系列稳增长政策的带动下有望整体好于2024年，红利策略短期超额收益或并不显著，但左侧布局或仍是较为有效的策略。中期看，在新一轮财政发力的周期下，红利策略在基建等稳增长政策相关板块暴露较高，有望再次成为攻守兼备的标的的重要抓手。","fund":{"_id":3000000012761,"__csrcFundId":10190,"stockCode":"012761","shortName":"华泰柏瑞红利ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":12761,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-17T17:12:01.619Z","status":"normal","exchange":"jj","name":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金","fundCollectionId":4000050440000,"followedNum":55,"inceptionDate":"2021-11-14T16:00:00.000Z","masterFundShortName":"华泰柏瑞红利ETF联接A/C","memoNum":11,"setUpDate":"2021-11-14T16:00:00.000Z","setUpAssetScale":49758756.52,"setUpShares":49758756.52,"pinyin":"htbrszhljyxkfszszqtzjjljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000015,"managers":[{"stockCode":"db20721130","stockType":"fund_manager","exchange":"fm","tickerId":1217192200,"name":"李茜"}]},"announcement":{"linkText":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1258911","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecf917fea5b3eb04fee63","date":"2024-09-29T16:00:00.000Z","stockId":3000000012761,"sao":"2024年三季度市场以结构性机会为主，其中非银金融、房地产、综合、商贸零售的表现相对较好，涨跌幅分别为41.67%、33.05%、31.20%和27.50%。整体来看，沪深300、中证500、中证1000和创业板指的涨跌幅分别为16.07%、16.19%、16.60%和29.21%。从市场风格来看，期间沪深300价值指数和沪深300成长指数的涨跌幅分别为11.86%和17.57%，中证500成长相对中证500价值获得了超额收益。　　9月在超预期宏观政策刺激和乐观情绪带动下，市场迎来强势反弹，在此过程中，红利类资产随不及其他成长属性较强的品种更具爆发性，但依然呈现出“守强攻不弱”的态势，上证红利全收益指数上涨6.51%。　　展望四季度，短期看，进入三季报业绩披露期窗口期，将是短期市场表现的影响主线之一，市场表现或将分化，可能更多呈现震荡行情，红利策略的防御属性仍将是资金的避风港。中期看，在新一轮财政发力的周期下，红利策略在基建等稳增长相关板块暴露较高，再次成为攻守兼备的标的的重要抓手。　　我们严格按照基金合同的规定，紧密跟踪标的指数、跟踪偏离最小化的投资策略进行被动投资。本报告期内，本基金的日均绝对跟踪偏离度为0.044%，期间日跟踪误差为0.090%，较好地实现了本基金的投资目标。　　本基金将继续严格遵守跟踪偏离最小化的被动投资策略，从而为基金投资人谋求与业绩基准基本一致的投资回报。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:01.227Z","fund":{"_id":3000000012761,"__csrcFundId":10190,"stockCode":"012761","shortName":"华泰柏瑞红利ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":12761,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-17T17:12:01.619Z","status":"normal","exchange":"jj","name":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金","fundCollectionId":4000050440000,"followedNum":55,"inceptionDate":"2021-11-14T16:00:00.000Z","masterFundShortName":"华泰柏瑞红利ETF联接A/C","memoNum":11,"setUpDate":"2021-11-14T16:00:00.000Z","setUpAssetScale":49758756.52,"setUpShares":49758756.52,"pinyin":"htbrszhljyxkfszszqtzjjljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000015,"managers":[{"stockCode":"db20721130","stockType":"fund_manager","exchange":"fm","tickerId":1217192200,"name":"李茜"}]},"announcement":{"linkText":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金2024年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1181085","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecf917fea5b3eb04fee62","date":"2024-06-29T16:00:00.000Z","stockId":3000000012761,"sao":"2024年上半年市场以结构性机会为主，其中银行、煤炭、公用事业、家用电器的表现相对较好，涨跌幅分别为17.02%、11.96%、11.76%和8.48%。整体来看，沪深300、中证500、中证1000和创业板指的涨跌幅分别为0.89%、-8.96%、-16.84%和-10.99%。从市场风格来看，期间沪深300价值指数和沪深300成长指数的涨跌幅分别为12.54%和-7.00%，中证500价值相对中证500成长获得了超额收益。　　2024年上半年，红利指数震荡上行。我们以上证红利指数的周度换手率分位和成交额占A股比例，作为衡量当前红利策略交易拥挤度的指标，最新数据显示，红利指数周度换手率为0.90%，处于近五年49%的历史分位水平；从周频成交额占比分位数来看，红利指数相较于A股成交额占比为2.36%，为近五年73%的合理区间水平。年初以来，红利策略因其强势表现被较多投资者关注，交易拥挤度指标一度指向较高水平，近期市场情绪有所降温，交易拥挤度回归合理区间。　　我们严格按照基金合同的规定，紧密跟踪标的指数、跟踪偏离最小化的投资策略进行被动投资。本报告期内，本基金的日均绝对跟踪偏离度为0.047%，期间日跟踪误差为0.082%，较好地实现了本基金的投资目标。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:01.224Z","mo":"展望下半年，进入中报业绩披露期与政策关键窗口期，市场将受到上市公司业绩与改革力度预期的共振影响。同时，海外流动性对市场仍有一定扰动，可能更多呈现震荡行情。同时，国内经济在下半年有望继续温和复苏，财政政策或将对基建发力形成积极支撑。在私人部门缺乏加杠杆的情况下，政府部门加杠杆或成为信用周期的最主要抓手。红利策略在稳增长板块暴露较高，有望再次成为攻守兼备标的的重要抓手。　　本基金将继续严格遵守跟踪偏离最小化的被动投资策略，从而为基金投资人谋求与业绩基准基本一致的投资回报。","fund":{"_id":3000000012761,"__csrcFundId":10190,"stockCode":"012761","shortName":"华泰柏瑞红利ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":12761,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-17T17:12:01.619Z","status":"normal","exchange":"jj","name":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金","fundCollectionId":4000050440000,"followedNum":55,"inceptionDate":"2021-11-14T16:00:00.000Z","masterFundShortName":"华泰柏瑞红利ETF联接A/C","memoNum":11,"setUpDate":"2021-11-14T16:00:00.000Z","setUpAssetScale":49758756.52,"setUpShares":49758756.52,"pinyin":"htbrszhljyxkfszszqtzjjljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000015,"managers":[{"stockCode":"db20721130","stockType":"fund_manager","exchange":"fm","tickerId":1217192200,"name":"李茜"}]},"announcement":{"linkText":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1152858","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecf917fea5b3eb04fee61","date":"2024-03-30T16:00:00.000Z","stockId":3000000012761,"sao":"2024年一季度市场以结构性机会为主，其中银行、石油石化、煤炭、家用电器的表现相对较好，涨跌幅分别为10.60%、10.58%、10.46%和10.26%。整体来看，沪深300、中证500、中证1000和创业板指的涨跌幅分别为3.10%、-2.64%、-7.58%和-3.87%。从市场风格来看，期间沪深300价值指数和沪深300成长指数的涨跌幅分别为9.42%和-1.15%，中证500价值相对中证500成长获得了超额收益。　　2024年一季度，红利指数表现强劲，上证红利全收益指数表现十分亮眼，上涨10.12%。我们以上证红利指数的周度换手率分位和成交额占A股比例，作为衡量当前红利策略交易拥挤度的指标，最新数据显示，红利指数周度换手率为1.08%，处于近五年75%的历史分位水平；从周频成交额占比分位数来看，红利指数相较于A股成交额占比为2.08%，为近五年52%的合理区间水平。年初以来，红利策略因其强势表现被较多投资者关注，交易拥挤度指标一度指向较高水平，近期市场情绪有所降温，交易拥挤度回归合理区间。　　展望后市，投资者会在政策预期与实际兑现之间博弈，市场波动仍然会震荡加剧，红利策略的防御属性仍将是资金的避风港。同时， 4月市场进入春季躁动尾声以及经济数据的验证期，随着年报基本面预期逐步兑现，具备业绩支撑及高股息性价比的红利资产依旧成为攻守兼备的标的的重要抓手。　　从中长期角度，随着经济从高速发展切换为高质量发展以及外资不断流入背景下，“茅指数”为代表的核心资产净利润增速优势相对红利指数进一步收敛，部分公司迎来业绩增速与估值中枢的双下移，不复以往经济下行期的最优选择。我们认为未来定价体系可能会发生变化，增加对于盈利定价的权重，以股息率作为筛选标准的红利策略天然具有盈利定价的优势。不仅较大程度控制下行风险，还可能在基本面与估值方面创造出较为可观的成长性。当前上证红利指数处于右侧布局合理区间。　　我们严格按照基金合同的规定，紧密跟踪标的指数、跟踪偏离最小化的投资策略进行被动投资。本报告期内，本基金的日均绝对跟踪偏离度为0.022%，期间日跟踪误差为0.037%，较好地实现了本基金的投资目标。　　本基金将继续严格遵守跟踪偏离最小化的被动投资策略，从而为基金投资人谋求与业绩基准基本一致的投资回报。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:01.221Z","fund":{"_id":3000000012761,"__csrcFundId":10190,"stockCode":"012761","shortName":"华泰柏瑞红利ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":12761,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-17T17:12:01.619Z","status":"normal","exchange":"jj","name":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金","fundCollectionId":4000050440000,"followedNum":55,"inceptionDate":"2021-11-14T16:00:00.000Z","masterFundShortName":"华泰柏瑞红利ETF联接A/C","memoNum":11,"setUpDate":"2021-11-14T16:00:00.000Z","setUpAssetScale":49758756.52,"setUpShares":49758756.52,"pinyin":"htbrszhljyxkfszszqtzjjljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000015,"managers":[{"stockCode":"db20721130","stockType":"fund_manager","exchange":"fm","tickerId":1217192200,"name":"李茜"}]},"announcement":{"linkText":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金2024年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1076121","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecf917fea5b3eb04fee60","date":"2023-12-30T16:00:00.000Z","stockId":3000000012761,"sao":"2023年市场以结构性机会为主，其中通信、传媒、计算机、电子的表现相对较好，涨跌幅分别为25.75%、16.80%、8.97%和7.25%。整体来看，沪深300、中证500、中证1000和创业板指的涨跌幅分别为-11.38%、-7.42%、-6.28%和-19.41%。从市场风格来看，期间沪深300价值指数和沪深300成长指数的涨跌幅分别为-4.10%和-21.85%，中证500价值相对中证500成长获得了超额收益。　　2023年，在疫情对经济的边际影响逐渐退出以后，国内经济呈现渐进式复苏。在总量驱动、库存周期及中美经济周期错位的驱动下，市场呈现震荡走势，以结构性机会为主。上证红利全收益指数表现十分亮眼，上涨9.06%，表现出较强的防御性。　　我们严格按照基金合同的规定，紧密跟踪标的指数、跟踪偏离最小化的投资策略进行被动投资。本报告期内，本基金的日均绝对跟踪偏离度为0.040%，期间日跟踪误差为0.089%，较好地实现了本基金的投资目标。","declarationDate":"2024-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:01.219Z","mo":"展望后市，投资者会在政策预期与实际兑现之间博弈，市场可能仍然会震荡，红利策略的防御属性或仍将是资金的“避风港”。同时，国内经济在2024年或将继续温和复苏，确定性相对较高的驱动因素在国内积极财政政策的前置下，财政政策将对基建发力形成积极支撑。在私人部门缺乏加杠杆的情况下，政府部门加杠杆或成为信用周期的主要抓手。红利策略在稳增长板块暴露较高，有望再次成为攻守兼备的标的的重要抓手。　　从中长期角度来看，随着经济从高速发展切换为高质量发展以及外资不断流入背景下，“茅指数”为代表的核心资产净利润增速优势相对红利指数或进一步收敛，部分公司可能迎来业绩增速与估值中枢的双下移。我们认为未来定价体系可能会发生变化，增加对于盈利定价的权重，以股息率作为筛选标准的红利策略天然具有盈利定价的优势，可能在基本面与估值方面创造出较为可观的成长性。当前上证红利指数或处于右侧布局合理区间。从估值的角度看，当前处于30%以下的估值分位数水平，属于合理偏低的位置，仍具有配置价值。本基金将继续严格遵守跟踪偏离最小化的被动投资策略，从而为基金投资人谋求与业绩基准基本一致的投资回报。","fund":{"_id":3000000012761,"__csrcFundId":10190,"stockCode":"012761","shortName":"华泰柏瑞红利ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":12761,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-17T17:12:01.619Z","status":"normal","exchange":"jj","name":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金","fundCollectionId":4000050440000,"followedNum":55,"inceptionDate":"2021-11-14T16:00:00.000Z","masterFundShortName":"华泰柏瑞红利ETF联接A/C","memoNum":11,"setUpDate":"2021-11-14T16:00:00.000Z","setUpAssetScale":49758756.52,"setUpShares":49758756.52,"pinyin":"htbrszhljyxkfszszqtzjjljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000015,"managers":[{"stockCode":"db20721130","stockType":"fund_manager","exchange":"fm","tickerId":1217192200,"name":"李茜"}]},"announcement":{"linkText":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1060781","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecf917fea5b3eb04fee5f","date":"2023-09-29T16:00:00.000Z","stockId":3000000012761,"sao":"2023年三季度市场以结构性机会为主，其中非银金融、煤炭、石油石化、钢铁的表现相对较好，涨跌幅分别为5.62%、5.26%、4.37%和2.14%。整体来看，沪深300、中证500、中证1000和创业板的涨跌幅分别为-3.98%、-5.13%、-7.92%和-9.53%。从市场风格来看，期间沪深300价值指数和沪深300成长指数的涨跌幅分别为0.45%和-7.81%，中证500价值相对中证500成长获得了显著的超额收益。　　随着地产、地方化债、资本市场、消费等宏观调控重点领域均有多项政策出台，市场风险偏好开始有所提升。展望后市，投资者会在政策预期与实际兑现之间博弈，市场波动可能会震荡加剧，红利策略可能表现出较强的防御性。稳增长政策不断出台，主要集中于房地产、资本市场、民营经济、平台经济等领域，且目前与经济预期强相关行业的修复正在渐入佳境。报告期内红利策略在顺周期行业暴露较高，再次成为攻守兼备的标的要点之一。　　同时，我们始终认为高分红特点的央国企是一条重要且清晰的投资思路。因此，以“股息率”为筛选标准的红利策略在央国企行情下具备天然优势，可能具有估值重塑的投资机会。我们认为“中特估”机会或许仍然是全年投资主线之一，为努力获得更强的Beta，可以加大高股息策略的配置权重，作为“杠铃配置”中的重要一头。　　当前上证红利指数处于右侧布局合理区间。从估值的角度看，当前处于30%左右的估值分位数水平，属于合理偏低的位置，仍具有配置价值。　　我们严格按照基金合同的规定，紧密跟踪标的指数、跟踪偏离最小化的投资策略进行被动投资。本报告期内，本基金的日均绝对跟踪偏离度为0.054%，期间日跟踪误差为0.114%，较好地实现了本基金的投资目标。　　本基金将继续严格遵守跟踪偏离最小化的被动投资策略，从而为基金投资人谋求与业绩基准基本一致的投资回报。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:01.216Z","fund":{"_id":3000000012761,"__csrcFundId":10190,"stockCode":"012761","shortName":"华泰柏瑞红利ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":12761,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-17T17:12:01.619Z","status":"normal","exchange":"jj","name":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金","fundCollectionId":4000050440000,"followedNum":55,"inceptionDate":"2021-11-14T16:00:00.000Z","masterFundShortName":"华泰柏瑞红利ETF联接A/C","memoNum":11,"setUpDate":"2021-11-14T16:00:00.000Z","setUpAssetScale":49758756.52,"setUpShares":49758756.52,"pinyin":"htbrszhljyxkfszszqtzjjljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000015,"managers":[{"stockCode":"db20721130","stockType":"fund_manager","exchange":"fm","tickerId":1217192200,"name":"李茜"}]},"announcement":{"linkText":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金2023年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=994104","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecf917fea5b3eb04fee5e","date":"2023-06-29T16:00:00.000Z","stockId":3000000012761,"sao":"2023年上半年市场以结构性机会为主，其中通信、传媒、计算机、机械设备的表现相对较好，涨跌幅分别为50.66%、42.75%、27.57%和13.44%。整体来看，沪深300、中证500、中证1000和创业板的涨跌幅分别为-0.75%、2.29%、5.10%和-5.61%。从市场风格来看，期间沪深300价值指数和沪深300成长指数的涨跌幅分别为3.65%和-6.15%，中证500价值相对中证500成长获得了显著的超额收益。　　我们严格按照基金合同的规定，紧密跟踪标的指数、跟踪偏离最小化的投资策略进行被动投资。本报告期内，本基金的日均绝对跟踪偏离度为0.041%，期间日跟踪误差为0.075%，较好地实现了本基金的投资目标。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:01.213Z","mo":"2023年上半年以来，在经济复苏预期波动下表现震荡加剧，红利策略表现出较强的防御性，成为市场“避风港”。展望后市，国内稳增长政策不断出台，主要集中于房地产、资本市场、民营经济、平台经济等领域，且与经济预期强相关行业的修复正在渐入佳境。红利系列指数在顺周期行业暴露较高，或再次成为攻守兼备的标的的重要切入点。同时，我们认为“中特估”行情下，高分红特点的央国企是一条重要且清晰的投资思路。因此，以“股息率”为筛选标准的红利策略在央国企行情下具备天然优势，具有估值重塑的投资机会。当前，华泰柏瑞红利系列产品的“央国企”权重占比均超75%。我们认为“中特估”机会仍然是全年投资主线之一，可以加大高股息策略的配置权重，作为“杠铃配置”中的重要一头。从估值的角度看，大多数红利策略仍然处于历史30%左右的估值分位数水平，属于合理偏低的位置，仍具有配置价值。　　本基金将继续严格遵守跟踪偏离最小化的被动投资策略，从而为基金投资人谋求与业绩基准基本一致的投资回报。","fund":{"_id":3000000012761,"__csrcFundId":10190,"stockCode":"012761","shortName":"华泰柏瑞红利ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":12761,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-17T17:12:01.619Z","status":"normal","exchange":"jj","name":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金","fundCollectionId":4000050440000,"followedNum":55,"inceptionDate":"2021-11-14T16:00:00.000Z","masterFundShortName":"华泰柏瑞红利ETF联接A/C","memoNum":11,"setUpDate":"2021-11-14T16:00:00.000Z","setUpAssetScale":49758756.52,"setUpShares":49758756.52,"pinyin":"htbrszhljyxkfszszqtzjjljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000015,"managers":[{"stockCode":"db20721130","stockType":"fund_manager","exchange":"fm","tickerId":1217192200,"name":"李茜"}]},"announcement":{"linkText":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金2023年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=967391","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecf917fe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.54%。整体来看，沪深300、中证500、中证1000和创业板的涨跌幅分别为-15.16%、-11.47%、-12.45%、和-18.56%。从市场风格来看，价值风格表现优于成长风格，期间沪深300价值指数和沪深300成长指数的涨跌幅分别为-11.22%和-19.70%，中证500价值相对中证500成长亦同样获得了显著的超额收益。  我们严格按照基金合同的规定，紧密跟踪标的指数、跟踪偏离最小化的投资策略进行被动投资。本报告期内，本基金的日均绝对跟踪偏离度为0.076%，期间日跟踪误差为0.144%，较好地实现了本基金的投资目标。  本基金将继续严格遵守跟踪偏离最小化的被动投资策略，从而为基金投资人谋求与业绩基准基本一致的投资回报。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:01.205Z","fund":{"_id":3000000012761,"__csrcFundId":10190,"stockCode":"012761","shortName":"华泰柏瑞红利ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":12761,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-17T17:12:01.619Z","status":"normal","exchange":"jj","name":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金","fundCollectionId":4000050440000,"followedNum":55,"inceptionDate":"2021-11-14T16:00:00.000Z","masterFundShortName":"华泰柏瑞红利ETF联接A/C","memoNum":11,"setUpDate":"2021-11-14T16:00:00.000Z","setUpAssetScale":49758756.52,"setUpShares":49758756.52,"pinyin":"htbrszhljyxkfszszqtzjjljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000015,"managers":[{"stockCode":"db20721130","stockType":"fund_manager","exchange":"fm","tickerId":1217192200,"name":"李茜"}]},"announcement":{"linkText":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金2022年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=811353","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecf917fea5b3eb04fee5a","date":"2022-06-29T16:00:00.000Z","stockId":3000000012761,"sao":"2022年上半年A股市场波动较大，先抑后扬，多数行业表现一般，未录得正收益。煤炭、交通运输、综合板块的表现较好，涨跌幅分别为31.38%、-0.71%、-1.46%。整体来看，沪深300、中证500、中证1000和创业板的涨跌幅分别为-9.22%、-12.30%、-12.67%、和-15.41%。从市场风格来看，价值风格表现优于成长风格，期间沪深300价值指数和沪深300成长指数的涨跌幅分别为-6.52%和-13.14%，中证500价值相对中证500成长亦同样获得了显著的超额收益。  同比港股市场，恒生能源业、恒生电讯业等行业录得正收益，恒生能源业的涨跌幅为18.92%。恒生指数、恒生中国企业指数和恒生综指在上半年表现一般，涨跌幅分别为-6.57%、-6.91%和-8.84%。    我们严格按照基金合同的规定，紧密跟踪标的指数、跟踪偏离最小化的投资策略进行被动投资。本报告期内，本基金的日均绝对跟踪偏离度为0.060%，期间日跟踪误差为0.069%，较好地实现了本基金的投资目标。  本基金将继续严格遵守跟踪偏离最小化的被动投资策略，从而为基金投资人谋求与业绩基准基本一致的投资回报。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:01.202Z","mo":"上海新冠疫情的爆发使得国内经济短期内失速，中美利差开始倒挂，市场情绪恐慌，迎来短暂的股债汇三杀，上证指数最低收于2863点。4月底至今的反弹，在稳增长措施不断发力以及国内疫情逐步得到控制的背景下，市场开始交易最差的时期已经过去，经济迎来修复。今年前5月基建（不含电力）投资同比增速6.7%，远高于2020、2021年的0.9%、0.4%，主要是靠财政支出前置发力，同期财政两大账本赤字实现的序时进度均为往年较高水平。稳增长政策力度较大，仍然具有持续性。  红利策略在股权风险溢价上行、银行理财收益率下行背景下，性价比突显，投资者更倾向于将资金配置于高股息、低风险的标的。同时，红利策略在“顺周期”的行业占比较高。从投资主线来看，依然看好下半年稳增长政策的落地以及通胀相关主题。随着俄乌冲突进一步发酵，引发的逆全球化趋势进一步加深，我们预计通胀水平仍处于高位震荡。红利策略的“顺周期”在稳增长板块以及能源板块的综合占比较高，仍具有一定优势。","fund":{"_id":3000000012761,"__csrcFundId":10190,"stockCode":"012761","shortName":"华泰柏瑞红利ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":12761,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-04-17T17:12:01.619Z","status":"normal","exchange":"jj","name":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金","fundCollectionId":4000050440000,"followedNum":55,"inceptionDate":"2021-11-14T16:00:00.000Z","masterFundShortName":"华泰柏瑞红利ETF联接A/C","memoNum":11,"setUpDate":"2021-11-14T16:00:00.000Z","setUpAssetScale":49758756.52,"setUpShares":49758756.52,"pinyin":"htbrszhljyxkfszszqtzjjljjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"etfFundFlag":1,"feederFundFlag":1,"indexFundFlag":1,"indexId":1000000000015,"managers":[{"stockCode":"db20721130","stockType":"fund_manager","exchange":"fm","tickerId":1217192200,"name":"李茜"}]},"announcement":{"linkText":"华泰柏瑞上证红利交易型开放式指数证券投资基金联接基金2022年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=783436","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecf917fea5b3eb04fee59","date":"2022-03-30T16:00:00.000Z","stockId":3000000012761,"sao":"自2021年四季度以来，受到全球性通胀压力的持续攀升、美国加息预期的不断升温、“俄乌”地缘冲突等事件的影响，市场的风险偏好出现急剧下降，资金对避险资产的配置需求上升。今年以来，在不确定因素较多的环境下，高股息板块表现较为亮眼，成为资金的避风港。  红利策略的特点兼具防御和进攻属性。防御属性方面，随着资管新规的实施，刚兑逐渐打破，无风险利率处于下行区间，红利策略的高股息、低波动的特点，适合作为长期资产配置的工具。同时，高股息率公司往往具备基本面良好、现金流充沛、盈利能力稳定、估值较低等特点，具有较高的安全边际。在股权风险溢价上行、银行理财收益率下行背景下，高股息策略性价比突显，投资者更倾向于将资金配置于高股息、低风险的标的。  特别是在低利率的市场环境下，股息的回报不仅具有利差优势，近几年股息率和十年期国债收益率出现了显著背离，而且具有较强的可持续性，对于吸引低风险资金入市起到积极作用。  红利策略的进攻属性体现为其顺周期的行业分布，绝大多数红利策略在顺周期的行业分布占比较高，所以具有一定的“顺周期”属性。近期市场围绕着“稳增长”的行情演绎，随着高位赛道抱团瓦解再现，市场对低位蓝筹的共识将更加强化。基建先行，地产后至，以制造、地产、交运为代表的大基建板块将具有较强持续性，使得红利策略“顺周期”属性配置价值持续凸显。  当前市场受到中美利差收窄的影响，市场不确定性进一步加深。红利策略“低波动、高股息、低估值”的特点适合作为长期资产配置的权益底仓。尤其是当前股权风险溢价上行、理财收益率下行，红利策略有稳定且可观的股息收益作为安全垫的基础上，左侧布局稳增长相关行业。    2022年一季度市场以结构性机会为主。其中房地产、综合、银行、采掘录得正收益，期间房地产指数上涨达7.27%，综合指数上涨达3.45%。整体来看，沪深300、中证500、中证1000和创业板表现一般，涨跌幅分别为-14.53%、-14.06%、-15.46%、和-19.96%。从市场风格来看，价值风格表现优于成长风格，期间沪深300价值指数和沪深300成长指数分别下跌4.89%和21.64%，中证500价值相对中证500成长值亦同样获得了显著的超额收益。  本基金将继续严格遵守跟踪偏离最小化的被动投资策略，从而为基金投资人谋求与业绩基准基本一致的投资回报。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:48:01.199Z","fund":{"_id":3000000012761,"__csrcFundId":10190,"stockCode":"012761","shortName":"华泰柏瑞红利ETF联接A","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":12761,"currency":"CNY","ma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