\u3000\u3000\u516c\u52df\u6295\u8d44\u79d1\u521b\u677f\u4e09\u5468\u5e74\uff1a\u9996\u6279\u4e3b\u9898\u57fa\u91d1\u5e73\u5747\u56de\u62a5\u8d8590%<\/p>\n
\u3000\u3000\u6982\u5ff5\u57fa\u91d1\u603b\u89c4\u6a21\u5df2\u8fd11500\u4ebf<\/p>\n
\u3000\u3000\u4e2d\u56fd\u57fa\u91d1\u62a5\u8bb0\u8005\u5f20\u71d5\u5317<\/p>\n
\u3000\u3000\u81ea2019\u5e744\u6708\u9996\u62797\u53ea\u79d1\u521b\u4e3b\u9898\u57fa\u91d1\u83b7\u6279\u540e\uff0c\u540c\u5e744\u670829\u65e5\u6613\u65b9\u8fbe\u79d1\u6280\u521b\u65b0\u7387\u5148\u6210\u7acb\uff0c\u6253\u54cd\u4e86\u516c\u52df\u57fa\u91d1\u6295\u5411\u79d1\u521b\u677f\u7684\u201c\u7b2c\u4e00\u67aa\u201d\uff0c \u8ddd\u4eca\u5df2\u6ee1\u4e09\u5468\u5e74\u3002\u4f34\u968f\u7740\u79d1\u521b\u677f\u7684\u53d1\u5c55\u58ee\u5927\uff0c\u6700\u521d\u8fd9\u6279\u53ef\u4ee5\u6295\u8d44\u79d1\u521b\u677f\u7684\u57fa\u91d1\u81ea\u6210\u7acb\u4ee5\u6765\u53d6\u5f97\u53ef\u89c2\u7684\u201c\u6218\u7ee9\u201d\uff0c\u4e1a\u7ee9\u548c\u89c4\u6a21\u53cc\u53cc\u5b9e\u73b0\u8f83\u9ad8\u589e\u957f\u3002<\/p>\n
\u3000\u3000\u8fc7\u53bb\u4e09\u5e74\u95f4\uff0c\u516c\u52df\u6295\u8d44\u79d1\u521b\u677f\u7684\u6b65\u4f10\u4e0d\u65ad\u63d0\u901f\uff0c\u4e3b\u6295\u79d1\u521b\u677f\u7684\u516c\u52df\u57fa\u91d1\u4ea7\u54c1\u961f\u4f0d\u4e5f\u6301\u7eed\u58ee\u5927\u3002<\/p>\n
\u3000\u3000\u4ece\u79d1\u6280\u521b\u65b0\u57fa\u91d1\u3001\u79d1\u521b\u4e3b\u9898\u57fa\u91d1\u5230\u540d\u526f\u5176\u5b9e\u7684\u201c\u79d1\u521b\u677f\u57fa\u91d1\u201d\u3001\u79d1\u521b50ETF\u3001\u53cc\u521bETF\uff0c\u518d\u5230\u4eca\u5e74\u63a8\u51fa\u7684\u79d1\u521b\u677f\u884c\u4e1a\u4e3b\u9898ETF\uff0c\u79d1\u521b\u677f\u76f8\u5173\u516c\u52df\u4ea7\u54c1\u5c42\u51fa\u4e0d\u7a77\u3002\u622a\u81f3\u4e00\u5b63\u5ea6\u672b\uff0c\u79d1\u521b\u677f\u6982\u5ff5\u57fa\u91d1\u603b\u89c4\u6a21\u63a5\u8fd11500\u4ebf\u5143\u3002<\/p>\n
\u3000\u3000\u53d7\u8bbf\u57fa\u91d1\u516c\u53f8\u8868\u793a\uff0c\u672a\u6765\u5c06\u7ee7\u7eed\u56f4\u7ed5\u79d1\u521b\u677f\u6295\u8d44\u8fdb\u884c\u4ea7\u54c1\u8bbe\u8ba1\u548c\u6295\u8d44\u7814\u7a76\u7684\u5168\u65b9\u9762\u5e03\u5c40\uff0c\u4e0d\u65ad\u63a8\u51fa\u79d1\u521b\u4e3b\u9898\u76f8\u5173\u7684\u4e3b\u52a8\u3001\u88ab\u52a8\u52a0\u5f3a\u548c\u6307\u6570\u578b\u57fa\u91d1\u3002<\/p>\n
\u3000\u3000\u9996\u6279\u4e3b\u9898\u57fa\u91d1\u5e73\u5747\u56de\u62a5\u8d8590%<\/p>\n
\u3000\u3000\u603b\u89c4\u6a21\u589e\u957f\u903e\u516d\u6210<\/p>\n
\u3000\u3000\u79d1\u521b\u677f\u63a8\u51fa\u5df2\u6709\u8fd1\u4e09\u5e74\uff0c\u800c\u5728\u79d1\u521b\u677f\u6b63\u5f0f\u63a8\u51fa\u524d\uff0c2019 \u5e74 4 \u6708 22 \u65e5\uff0c\u9996\u62797 \u53ea\u79d1\u521b\u4e3b\u9898\u57fa\u91d1\u7387\u5148\u6b63\u5f0f\u83b7\u6279\u3002\u540c\u5e744\u670829\u65e5\u81f35\u67087\u65e5\uff0c\u6765\u81ea\u6613\u65b9\u8fbe\u3001\u534e\u590f\u3001\u5bcc\u56fd\u3001\u5357\u65b9\u3001\u6c47\u6dfb\u5bcc\u3001\u5609\u5b9e\u3001\u5de5\u94f6\u745e\u4fe1\u7684\u9996\u62797\u53ea\u79d1\u6280\u521b\u65b0\u4e3b\u9898\u57fa\u91d1\u96c6\u4e2d\u6210\u7acb\uff0c\u6807\u5fd7\u7740\u7b2c\u4e00\u6279\u53ef\u6295\u8d44\u79d1\u521b\u677f\u7684\u516c\u52df\u57fa\u91d1\u95ee\u4e16\uff0c\u4e3a\u540e\u7eed\u4e3b\u6295\u79d1\u521b\u677f\u6807\u7684\u57fa\u91d1\u7684\u843d\u5730\u8fdb\u884c\u4e86\u7387\u5148\u5c1d\u8bd5\u3002<\/p>\n
\u3000\u3000\u8fd97\u53ea\u57fa\u91d1\u51e0\u4e4e\u540c\u4e00\u65f6\u95f4\u6210\u7acb\uff0c\u7ecf\u5386\u4e86\u540c\u6837\u7684\u5e02\u573a\u73af\u5883\uff0c\u6295\u8d44\u4e8e\u79d1\u6280\u521b\u65b0\u4e3b\u9898\u76f8\u5173\u8bc1\u5238\u7684\u6bd4\u4f8b\u90fd\u4e0d\u4f4e\u4e8e\u975e\u73b0\u91d1\u57fa\u91d1\u8d44\u4ea7\u768480%\u3002\u4e09\u5e74\u8fc7\u53bb\u4e86\uff0c\u6700\u521d\u8fd9\u6279\u6295\u5411\u79d1\u521b\u677f\u7684\u57fa\u91d1\u4e3a\u6295\u8d44\u8005\u5e26\u6765\u4e86\u4e30\u539a\u56de\u62a5\u3002<\/p>\n
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<\/span><\/p>\n \u3000\u3000\u4f34\u968f\u7740\u4e1a\u7ee9\u7684\u589e\u957f\uff0c\u9996\u6279\u79d1\u521b\u4e3b\u9898\u57fa\u91d1\u4e5f\u83b7\u5f97\u8d44\u91d1\u8ffd\u6367\uff0c\u89c4\u6a21\u6c34\u6da8\u8239\u9ad8\u3002\u867d\u7136\u9996\u6279\u79d1\u521b\u4e3b\u9898\u57fa\u91d1\u53d1\u884c\u5f53\u5929\u8ba4\u8d2d\u91d1\u989d\u5408\u8ba1\u8d85\u8fc71000\u4ebf\u5143\uff0c\u4f46\u5355\u53ea\u52df\u96c6\u4e0a\u9650\u4ec5\u4e3a10\u4ebf\u5143\u3002\u622a\u81f3\u4eca\u5e74\u4e00\u5b63\u5ea6\u672b\uff0c\u8fd97\u53ea\u4ea7\u54c1\u7684\u5408\u5e76\u89c4\u6a21\u4e3a115.12\u4ebf\u5143\uff0c\u8f83\u53d1\u884c\u65f6\u768470\u4ebf\u5143\u589e\u957f\u8d85\u516d\u6210\u3002<\/p>\n \u3000\u3000\u5bf9\u6b64\u5e73\u5b89\u57fa\u91d1\u57fa\u91d1\u7ecf\u7406\u7fdf\u68ee\u8ba4\u4e3a\uff0c\u79d1\u521b\u57fa\u91d1\u7684\u6536\u76ca\u7387\u662f\u4e2d\u56fd\u79d1\u6280\u884c\u4e1a\u8fd1\u5e74\u6765\u7531\u4e8e\u6280\u672f\u521b\u65b0\u5e26\u6765\u7684\u5185\u751f\u8fdb\u6b65\uff0c\u56fd\u4ea7\u66ff\u4ee3\u5e26\u6765\u7684\u9ad8\u901f\u76c8\u5229\u53d1\u5c55\u7684\u7efc\u5408\u4f53\u73b0\u3002<\/p>\n \u3000\u3000\u8c08\u53ca\u9996\u6279\u79d1\u521b\u4e3b\u9898\u57fa\u91d1\u7684\u8868\u73b0\uff0c\u5357\u65b9\u79d1\u6280\u521b\u65b0\u6df7\u5408\u57fa\u91d1\u7ecf\u7406\u738b\u535a\u6307\u51fa\uff0c\u79d1\u521b\u4e3b\u9898\u57fa\u91d1\u7684\u8bbe\u7acb\uff0c\u662f\u5728\u56fd\u5185\u7ecf\u6d4e\u8f6c\u578b\u5347\u7ea7\u548c\u5168\u7403\u8d38\u6613\u683c\u5c40\u53d8\u5316\u7684\u5927\u80cc\u666f\u4e0b\u53d1\u751f\u7684\uff0c\u662f\u8d44\u672c\u5e02\u573a\u79ef\u6781\u54cd\u5e94\u56fd\u5bb6\u53d1\u5c55\u79d1\u6280\u884c\u4e1a\u7684\u4f53\u73b0\u3002\u8fd9\u4e00\u7cfb\u5217\u4ea7\u54c1\u6210\u7acb\u4e8e2019\u5e74\u4e4b\u540e\uff0c\u9002\u9022\u56fd\u5bb6\u79d1\u6280\u884c\u4e1a\u9ad8\u901f\u53d1\u5c55\u65f6\u671f\uff0c\u4eab\u53d7\u5230\u4e86\u76f8\u5173\u4f01\u4e1a\u7684\u6210\u957f\u7ea2\u5229\uff0c\u6240\u4ee5\u6574\u4f53\u4e1a\u7ee9\u8868\u73b0\u4f18\u5f02\u3002\u79d1\u6280\u884c\u4e1a\u4e2d\u534a\u5bfc\u4f53\u3001\u65b0\u80fd\u6e90\u7b49\u7ec6\u5206\u9886\u57df\uff0c\u5728\u8fc7\u53bb\u4e09\u5e74IPO\u548c\u878d\u8d44\u8282\u594f\u660e\u663e\u52a0\u5feb\uff0c\u4e5f\u52a9\u63a8\u4e86\u76f8\u5173\u4ea7\u4e1a\u7684\u53d1\u5c55\u3002<\/p>\n 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\u3000\u3000\u4f5c\u4e3a\u79d1\u521b\u4e3b\u9898\u57fa\u91d1\u7ecf\u7406\uff0c\u81ea\u8eab\u6295\u7814\u4f53\u7cfb\u4e5f\u5728\u4e0d\u65ad\u66f4\u8fed\uff0c\u6295\u8d44\u8303\u56f4\u968f\u4e4b\u53d1\u751f\u6539\u53d8\u3002\u5609\u5b9e\u57fa\u91d1\u5927\u79d1\u6280\u7814\u7a76\u603b\u76d1\u3001\u57fa\u91d1\u7ecf\u7406\u738b\u8d35\u91cd\u5766\u8a00\uff0c\u79d1\u521b\u677f\u53d1\u5c55\u7684\u8fd9\u4e09\u5e74\uff0c\u4e5f\u662f\u4f5c\u4e3a\u521d\u4e00\u4ee3\u79d1\u521b\u677f\u57fa\u91d1\u7ecf\u7406\u79d1\u6280\u6295\u8d44\u7406\u5ff5\u4e0e\u6846\u67b6\u4e0d\u65ad\u53d1\u5c55\u7684\u4e09\u5e74\u3002<\/p>\n \u3000\u3000\u738b\u8d35\u91cd\u4ecb\u7ecd\uff0c\u4e00\u5f00\u59cb\uff0c\u81ea\u5df1\u6700\u91cd\u89c6\u7ba1\u7406\u5c42\u548c\u7ade\u4e89\u529b\uff1b\u540e\u6765\u968f\u7740\u5bf9\u884c\u4e1a\u7684\u8ba4\u77e5\u4e0d\u65ad\u52a0\u6df1\uff0c\u5f00\u59cb\u6ce8\u91cd\u5546\u4e1a\u6a21\u5f0f\u53ca\u4f01\u4e1a\u4ea7\u751f\u6548\u76ca\u7684\u6e90\u5934\uff1b\u518d\u540e\u6765\uff0c\u5f00\u59cb\u5173\u6ce8\u4ea7\u4e1a\u8d8b\u52bf\u7684\u529b\u91cf\uff1b\u6700\u540e\uff0c\u5c31\u662f\u66f4\u52a0\u6ce8\u91cd\u5b9a\u4ef7\u3002\u54ea\u6015\u662f\u597d\u884c\u4e1a\u3001\u597d\u5546\u4e1a\u6a21\u5f0f\u3001\u597d\u516c\u53f8\uff0c\u6700\u540e\u8fd8\u662f\u8981\u6709\u597d\u7684\u4ef7\u683c\uff0c\u8981\u4e0d\u7136\u4e5f\u5f88\u96be\u8d5a\u94b1\u3002\u57fa\u4e8e\u4e0a\u8ff0\u7684\u6846\u67b6\u5b8c\u5584\uff0c\u4ed6\u7684\u6295\u8d44\u8303\u56f4\u4e5f\u4ece\u7535\u5b50\u3001\u534a\u5bfc\u4f53\u9010\u6b65\u62d3\u5c55\u5230\u65b0\u80fd\u6e90\u3001\u4e92\u8054\u7f51\u3001CXO\u7b49\u884c\u4e1a\u3002<\/p>\n \u3000\u3000\u56de\u987e\u8fc7\u53bb\u4e09\u5e74\u7684\u79d1\u521b\u677f\u6295\u8d44\u7ecf\u5386\uff0c\u738b\u8d35\u91cd\u8ba4\u4e3a\u9700\u8981\u8fdb\u4e00\u6b65\u63d0\u5347\u7684\u4e3b\u8981\u5728\u4e24\u4e2a\u65b9\u9762\uff0c\u5176\u4e00\u3002\u4ea7\u4e1a\u8d8b\u52bf\u7684\u529b\u91cf\u548c\u975e\u7ebf\u6027\u5f71\u54cd\uff0c\u5bf9\u79d1\u6280\u7c7b\u4ea7\u4e1a\u4e0e\u7ec6\u5206\u8d5b\u9053\u7684\u628a\u63e1\u8fd8\u9700\u8981\u66f4\u6709\u7a81\u7834\u610f\u8bc6\u3002\u5176\u4e8c\uff0c\u5b9a\u4ef7\u7684\u7cbe\u51c6\u5ea6\u3002\u6211\u4eec\u4f1a\u7528\u81ea\u7531\u73b0\u91d1\u6d41\u6298\u73b0\u6a21\u578b\uff08DCF\uff09\u548c\u6982\u7387\u8d4b\u6743\u6765\u8fdb\u884c\u516c\u53f8\u5b9a\u4ef7\uff0c\u4f46\u5404\u79cd\u5047\u8bbe\u53d8\u91cf\u7684\u53d8\u5316\u5bf9\u7ed3\u679c\u7684\u654f\u611f\u6027\u90fd\u5f88\u5927\uff0c\u540e\u7eed\u8fd8\u8981\u52a0\u5f3a\u5bf9\u516c\u53f8\u7684\u7406\u89e3\uff0c\u529b\u4e89\u5728\u6a21\u7cca\u7684\u6b63\u786e\u57fa\u7840\u4e0a\u505a\u5230\u66f4\u52a0\u7cbe\u786e\u3002<\/p>\n \u3000\u3000\u603b\u4f53\u6765\u8bf4\uff0c\u57fa\u91d1\u7ecf\u7406\u666e\u904d\u8ba4\u4e3a\uff0c\u79d1\u521b\u677f\u7684\u79d1\u6280\u5c5e\u6027\u975e\u5e38\u5f3a\uff0c\u9700\u8981\u654f\u9510\u7684\u773c\u5149\u548c\u6df1\u5165\u7684\u63d0\u524d\u7814\u7a76\uff0c\u624d\u80fd\u5728\u66f4\u597d\u7684\u4ef7\u683c\u4e70\u5230\u6700\u4f18\u8d28\u7684\u516c\u53f8\u3002<\/p>\n \u3000\u3000\u636e\u5357\u65b9\u79d1\u6280\u521b\u65b0\u6df7\u5408\u57fa\u91d1\u7ecf\u7406\u738b\u535a\u4ecb\u7ecd\uff0c\u516c\u53f8\u5728\u79d1\u521b\u677f\u5f00\u677f\u524d\u5c31\u6210\u7acb\u4e86\u79d1\u521b\u677f\u6295\u8d44\u7814\u7a76\u5c0f\u7ec4\uff0c\u8d1f\u8d23\u79d1\u521b\u677f\u5236\u5ea6\u548c\u4e2a\u80a1\u7684\u7814\u7a76\u652f\u6301\u5de5\u4f5c\u3002\u8fd1\u51e0\u5e74\u79d1\u521b\u677f\u4e3a\u4ee3\u8868\u7684\u5236\u5ea6\u521b\u65b0\u6b63\u88ab\u5e02\u573a\u53c2\u4e0e\u8005\u5e7f\u6cdb\u4e86\u89e3\u3002\u540c\u65f6\uff0c\u673a\u6784\u6295\u8d44\u8005\u5bf9\u79d1\u521b\u677f\u7684\u53c2\u4e0e\u7a0b\u5ea6\u4e5f\u5728\u5927\u5e45\u5ea6\u63d0\u5347\u3002\u4ece\u6700\u521d\u5bf9\u79d1\u521b\u677f\u6253\u65b0\u7684\u5173\u6ce8\u5ea6\u8f83\u9ad8\uff0c\u5230\u6301\u80a1\u6bd4\u4f8b\u8fd1\u5e74\u6765\u9010\u5e74\u589e\u52a0\u3002\u4eca\u5e74\u4e00\u5b63\u5ea6\uff0c\u673a\u6784\u79d1\u521b\u677f\u6301\u80a1\u6bd4\u4f8b\u5df2\u7ecf\u63a5\u8fd1\u4e3b\u677f\u5e02\u573a\uff0c\u5e76\u9ad8\u4e8e\u521b\u4e1a\u677f\u3002<\/p>\n \u3000\u3000\u201c\u6211\u4eec\u4e00\u5f00\u59cb\u5c31\u79ef\u6781\u53c2\u4e0e\u79d1\u521b\u677f\u7684\u7814\u7a76\u548c\u6295\u8d44\uff0c\u6210\u7acb\u7814\u7a76\u5c0f\u7ec4\u3001\u6295\u8d44\u56e2\u961f\u7b49\uff0c\u5168\u6d41\u7a0b\u6df1\u5165\u7814\u7a76\u79d1\u521b\u677f\u3002\u76ee\u524d\u79d1\u521b\u677f\u662f\u6211\u4eec\u6295\u8d44\u9009\u62e9\u7684\u91cd\u8981\u677f\u5757\uff0c\u6211\u4eec\u4ece\u79d1\u521b\u677f\u91cc\u9009\u62e9\u4e00\u6279\u7279\u522b\u4f18\u8d28\u7684\u516c\u53f8\uff0c\u83b7\u53d6\u4e86\u4e00\u5b9a\u8d85\u989d\u6536\u76ca\u3002\u201d\u94f6\u534e\u79d1\u521b\u4e3b\u9898\u57fa\u91d1\u7ecf\u7406\u5510\u80fd\u8868\u793a\u3002<\/p>\n \u3000\u3000\u79d1\u521b\u677f\u57fa\u91d1\u603b\u89c4\u6a21\u8fd11500\u4ebf<\/p>\n \u3000\u3000\u521b\u65b0\u4ea7\u54c1\u5c42\u51fa\u4e0d\u7a77<\/p>\n \u3000\u3000\u4e3a\u66f4\u597d\u5730\u6295\u8d44\u79d1\u521b\u677f\uff0c\u516c\u52df\u57fa\u91d1\u5728\u4ea7\u54c1\u521b\u65b0\u65b9\u9762\u7684\u811a\u6b65\u4e5f\u4ece\u672a\u505c\u6b62\u3002\u4f5c\u4e3a\u9996\u6279\u79d1\u521b\u4e3b\u9898\u57fa\u91d1\u76847\u53ea\u79d1\u6280\u521b\u65b0\u57fa\u91d1\u95ee\u4e16\u540e\u4e0d\u4e45\uff0c11\u53ea\u79d1\u521b\u4e3b\u98983\u5e74\u5c01\u95ed\u8fd0\u4f5c\u4fbf\u63a5\u8fde\u6210\u7acb\uff0c\u6b64\u540e\u4e3b\u6295\u79d1\u521b\u677f\u7684\u516c\u52df\u57fa\u91d1\u4ea7\u54c1\u961f\u4f0d\u4e5f\u6301\u7eed\u58ee\u5927\u3002<\/p>\n \u3000\u3000\u622a\u81f3\u76ee\u524d\uff0c\u5e02\u573a\u4e0a\u5df2\u76f8\u7ee7\u8bde\u751f\u201c\u79d1\u521b\u677f\u57fa\u91d1\u201d\u3001\u79d1\u521b50ETF\u3001\u53cc\u521bETF\u3001\u79d1\u521b\u677f\u884c\u4e1a\u4e3b\u9898ETF\u7b49\u591a\u79cd\u79d1\u521b\u677f\u76f8\u5173\u516c\u52df\u521b\u65b0\u4ea7\u54c1\u3002Wind\u7edf\u8ba1\u663e\u793a\uff0c\u622a\u81f3\u4e00\u5b63\u5ea6\u672b\uff0c64\u53ea\u79d1\u521b\u677f\u6982\u5ff5\u57fa\u91d1\uff08\u5404\u4efd\u989d\u5408\u5e76\u7edf\u8ba1\uff09\u603b\u89c4\u6a21\u63a5\u8fd11500\u4ebf\u5143\uff0c\u6d89\u53ca\u523037\u5bb6\u57fa\u91d1\u7ba1\u7406\u4eba\u3002<\/p>\n \u3000\u3000\u800c\u5728\u672a\u6765\uff0c\u516c\u52df\u57fa\u91d1\u56f4\u7ed5\u79d1\u521b\u677f\u8fd8\u4f1a\u7ee7\u7eed\u63a8\u51fa\u521b\u65b0\u4ea7\u54c1\u3002\u66fe\u9e4f\u4ecb\u7ecd\u9053\uff0c\u5728\u5168\u9762\u65bd\u884c\u80a1\u7968\u53d1\u884c\u6ce8\u518c\u5236\u6539\u9769\u3001\u63d0\u9ad8\u4e0a\u5e02\u516c\u53f8\u8d28\u91cf\u7684\u80cc\u666f\u4e0b\uff0c\u535a\u65f6\u57fa\u91d1\u5c06\u501f\u9274\u5df2\u6709\u7684\u79d1\u521b\u677f\u4e3b\u9898\u57fa\u91d1\u3001\u521b\u4e1a\u677f\u4e3b\u9898\u57fa\u91d1\u548c\u4e13\u7cbe\u7279\u65b0\u4e3b\u9898\u57fa\u91d1\uff0c\u8fdb\u4e00\u6b65\u5f00\u53d1\u56f4\u7ed5\u65b0\u4ea4\u6613\u573a\u6240\u3001\u65b0\u5e02\u573a\u677f\u5757\u3001\u65b0\u6295\u8d44\u9898\u6750\u7684\u4e3b\u52a8\u6743\u76ca\u57fa\u91d1\u3002<\/p>\n \u3000\u3000\u5510\u80fd\u79f0\uff0c\u201c\u79d1\u521b\u677f\u662f\u6211\u4eec\u7279\u522b\u91cd\u89c6\u7684\u677f\u5757\uff0c\u4ea7\u54c1\u8bbe\u8ba1\u548c\u6295\u8d44\u7814\u7a76\u4e0a\u8fdb\u884c\u4e86\u5168\u65b9\u9762\u7684\u5e03\u5c40\uff0c\u5c06\u4e0d\u65ad\u63a8\u51fa\u79d1\u521b\u4e3b\u9898\u76f8\u5173\u7684\u4e3b\u52a8\u3001\u88ab\u52a8\u52a0\u5f3a\u548c\u6307\u6570\u578b\u57fa\u91d1\u3002\u201d<\/p>\n \u3000\u3000\u56fd\u6cf0\u57fa\u91d1\u5219\u8868\u793a\uff0c\u516c\u53f8\u4e00\u76f4\u79ef\u6781\u5e03\u5c40\u79d1\u521b\u677f\u76f8\u5173\u4ea7\u54c1\u3002\u516c\u53f8\u5e03\u5c40\u53ef\u6295\u8d44\u79d1\u521b\u677f\u7684\u5168\u5e02\u573a\u4ea7\u54c1\uff0c\u4e5f\u4f1a\u5173\u6ce8\u79d1\u521b\u677f\u7684\u6295\u8d44\u673a\u9047\uff1b\u53e6\u5916\uff0c\u516c\u53f8\u53bb\u5e74\u53d1\u884c\u5e76\u4e0a\u5e02\u79d1\u521b\u521b\u4e1aETF\uff0c\u4e3a\u6295\u8d44\u8005\u63d0\u4f9b\u5e03\u5c40\u79d1\u521b\u677f\u548c\u521b\u4e1a\u677f\u7684\u9f99\u5934\u4f01\u4e1a\u7684\u6295\u8d44\u5de5\u5177\u3002\u672a\u6765\uff0c\u4e5f\u4f1a\u6301\u7eed\u5173\u6ce8\u79d1\u521b\u677f\u6295\u8d44\u673a\u9047\uff0c\u6301\u7eed\u79ef\u6781\u5e03\u5c40\uff0c\u6316\u6398\u4f18\u8d28\u6295\u8d44\u6807\u7684\u3002<\/p>\n \u3000\u3000\u738b\u8d35\u91cd\u5206\u6790\u9053\uff0c\u5728\u8d44\u7ba1\u65b0\u89c4\u6253\u7834\u521a\u5151\u540e\uff0c\u7406\u8d22\u4ea7\u54c1\u52a0\u901f\u5411\u51c0\u503c\u5316\u8f6c\u578b\uff0c\u5bb6\u5ead\u8d22\u5bcc\u6295\u8d44\u7531\u975e\u6807\u4ea7\u54c1\u8f6c\u5411\u57fa\u91d1\u4ea7\u54c1\u7684\u9700\u6c42\u65e5\u76ca\u65fa\u76db\uff0c\u6295\u8d44\u8005\u8feb\u5207\u9700\u8981\u597d\u7684\u4ea7\u54c1\u548c\u597d\u7684\u5de5\u5177\u6765\u8fdb\u884c\u914d\u7f6e\u548c\u4ea4\u6613\u3002\u201c\u4e3a\u6b64\u6211\u4eec\u7684ETF\u4ea7\u54c1\u7684\u8bbe\u8ba1\u5e94\u5f53\u4fa7\u91cd\u4e24\u4e2a\u65b9\u9762\uff1a\u4e00\u4e2a\u662f\u914d\u7f6e\u529f\u80fd\uff0c\u4e00\u4e2a\u662f\u4ea4\u6613\u529f\u80fd\u3002\u6211\u4eec\u66f4\u5173\u6ce8\u8d1d\u5854\u7c7b\u4ea7\u54c1\u7684\u5de5\u5177\u5c5e\u6027\u4e0e\u914d\u7f6e\u5c5e\u6027\uff0c\u4e00\u65b9\u9762\u6301\u7eed\u505a\u5927\u505a\u5f3a\u5bbd\u57fa\u89c4\u6a21\uff0c\u53e6\u4e00\u65b9\u9762\u79ef\u6781\u5e03\u5c40Smart Beta\u548c\u5de5\u5177\u5316\u4ea7\u54c1\u3002\u201d\u4ed6\u8bf4\u9053\u3002<\/p>\n 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\u3000\u3000\u66fe\u9e4f\u5219\u8868\u793a\uff0c\u6211\u4eec\u6b63\u5904\u4e8e\u4e2d\u56fd\u6743\u76ca\u5e02\u573a\u6295\u8d44\u7684\u9ec4\u91d1\u671f\uff0c\u79d1\u6280\u521b\u65b0\u5c06\u662f\u5e02\u573a\u4e2d\u957f\u671f\u7684\u6295\u8d44\u4e3b\u7ebf\uff0c\u79d1\u521b\u677f\u62c5\u8d1f\u7740\u57f9\u80b2\u4e2d\u56fd\u79d1\u6280\u521b\u65b0\u884c\u4e1a\u7684\u91cd\u8981\u5386\u53f2\u4f7f\u547d\u3002<\/p>\n \u3000\u3000\u57fa\u91d1\uff1a\u79d1\u521b\u677f\u8c03\u6574\u4e0d\u6539\u957f\u671f\u6295\u8d44\u4ef7\u503c<\/p>\n \u3000\u3000\u6162\u6162\u7b49\u5f85\u5f39\u7c27\u538b\u7f29\u79ef\u84c4\u529b\u91cf<\/p>\n \u3000\u3000\u4e2d\u56fd\u57fa\u91d1\u62a5\u8bb0\u8005 \u65b9\u4e3d<\/p>\n 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\u3000\u3000\u5bf9\u6b64\uff0c\u4e2d\u56fd\u57fa\u91d1\u62a5\u8bb0\u8005\u91c7\u8bbf\u6765\u81ea\u5317\u4eac\u3001\u4e0a\u6d77\u3001\u6df1\u5733\u7b49\u5730\u7684\u6295\u8d44\u4eba\u58eb\u8ba4\u4e3a\uff0c\u53d7\u7f8e\u503a\u5229\u7387\u4e0a\u884c\u3001\u4fc4\u4e4c\u6218\u4e89\u62ac\u5347\u901a\u80c0\u9884\u671f\u548c\u56fd\u5185\u75ab\u60c5\u8d85\u9884\u671f\u4e09\u5927\u4e8b\u4ef6\u7684\u51b2\u51fb\uff0c\u56e0\u6b64\u79d1\u521b\u677f\u51fa\u73b0\u5927\u5e45\u8c03\u6574\uff0c\u4f46\u79d1\u521b\u677f\u4e3a\u4ee3\u8868\u7684\u5f88\u591a\u65b0\u5174\u4ea7\u4e1a\u7684\u4f18\u79c0\u516c\u53f8\u4ecd\u62e5\u6709\u5f3a\u52b2\u589e\u957f\u529b\u548c\u8f83\u597d\u7684\u6210\u957f\u7a7a\u95f4\uff0c\u957f\u671f\u6295\u8d44\u4ef7\u503c\u7a81\u51fa\uff0c\u8c03\u6574\u5f80\u5f80\u5e26\u6765\u5e03\u5c40\u673a\u9047\u3002<\/p>\n \u3000\u3000\u591a\u56e0\u7d20\u5f15\u53d1\u79d1\u521b\u677f\u8c03\u6574<\/p>\n 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\u3000\u3000\u516c\u52df\u4eba\u58eb\u70ed\u8bae\u79d1\u521b\u677f\u5236\u5ea6\u5efa\u8bbe<\/p>\n \u3000\u3000\u964d\u4f4e\u6295\u8d44\u95e8\u69db\u3001\u63d0\u5347\u6d41\u52a8\u6027\u6210\u5173\u6ce8\u7126\u70b9<\/p>\n \u3000\u3000\u4e2d\u56fd\u57fa\u91d1\u62a5\u8bb0\u8005 \u9646\u6167\u5a67<\/p>\n \u3000\u3000\u79d1\u521b\u677f\u5373\u5c06\u8fce\u6765\u5f00\u5e02\u4e09\u5468\u5e74\u7684\u65e5\u5b50\uff0c\u56de\u987e\u8fc7\u53bb\u4e09\u5e74\uff0c\u4f5c\u4e3aA\u80a1\u5e02\u573a\u6539\u9769\u201c\u8bd5\u9a8c\u7530\u201d\uff0c\u79d1\u521b\u677f\u4ece\u65e0\u5230\u6709\uff0c\u4e0d\u65ad\u5f15\u9886A\u80a1\u5236\u5ea6\u521b\u65b0\uff0c\u5236\u5ea6\u6027\u63a2\u7d22\u59cb\u7ec8\u8d70\u5728\u5e02\u573a\u524d\u6cbf\u3002<\/p>\n \u3000\u3000\u4eca\u5e745\u670813\u65e5\uff0c\u8bc1\u76d1\u4f1a\u6b63\u5f0f\u53d1\u5e03\u300a\u8bc1\u5238\u516c\u53f8\u79d1\u521b\u677f\u80a1\u7968\u505a\u5e02\u4ea4\u6613\u4e1a\u52a1\u8bd5\u70b9\u89c4\u5b9a\u300b\uff0c\u5c06\u5728\u79d1\u521b\u677f\u5f15\u5165\u80a1\u7968\u505a\u5e02\u5546\u673a\u5236\u3002\u79d1\u521b\u677f\u672a\u6765\u7684\u5236\u5ea6\u5efa\u8bbe\u518d\u6b21\u5f15\u8d77\u5e02\u573a\u5173\u6ce8\u3002<\/p>\n \u3000\u3000\u591a\u4f4d\u5e02\u573a\u4eba\u58eb\u8ba4\u4e3a\uff0c\u79d1\u521b\u677f\u7684\u5f00\u901a\u8fdb\u4e00\u6b65\u5b8c\u5584\u4e86\u4e2d\u56fd\u8d44\u672c\u5e02\u573a\uff0c\u5bf9\u5efa\u8bbe\u591a\u5c42\u6b21\u8d44\u672c\u5e02\u573a\u6709\u7740\u91cd\u8981\u610f\u4e49\u3002\u672a\u6765\u671f\u5f85\u5728\u964d\u4f4e\u6295\u8d44\u95e8\u69db\u3001\u8fdb\u4e00\u6b65\u6df1\u5316\u6ce8\u518c\u5236\u3001\u52a0\u5f3a\u4fe1\u606f\u62ab\u9732\u8282\u594f\u4e0a\u6709\u66f4\u591a\u7684\u63aa\u65bd\u843d\u5730\u3002<\/p>\n \u3000\u3000\u79d1\u521b\u677f\u4e09\u5468\u5e74\u6210\u7ee9\u663e\u8457<\/p>\n \u3000\u3000\u8d44\u672c\u5e02\u573a\u5171\u4eab\u79d1\u6280\u53d1\u5c55<\/p>\n \u3000\u30002019\u5e747\u670822\u65e5\u5f00\u5e02\u81f3\u4eca\uff0c\u79d1\u521b\u677f\u5373\u5c06\u8fce\u6765\u4e09\u5468\u5c81\u751f\u65e5\u3002\u8fc7\u53bb\u4e09\u5e74\u65f6\u95f4\u91cc\uff0c\u79d1\u521b\u677f\u4fe1\u606f\u62ab\u9732\u548c\u5e02\u573a\u5316\u5236\u5ea6\u521b\u65b0\u6df1\u5165\u4eba\u5fc3\uff0c\u4e3aA\u80a1\u5e02\u573a\u5e26\u6765\u4e86\u6e90\u6e90\u4e0d\u65ad\u7684\u521b\u65b0\u6d3b\u529b\uff0c\u4e3a\u6211\u56fd\u8d44\u672c\u5e02\u573a\u7684\u53d1\u5c55\u6ce8\u5165\u6301\u7eed\u52a8\u529b\u3002<\/p>\n \u3000\u3000\u535a\u65f6\u57fa\u91d1\u8463\u4e8b\u603b\u7ecf\u7406\u517c\u6743\u76ca\u6295\u7814\u4e00\u4f53\u5316\u603b\u76d1\u66fe\u9e4f\u7528\u4e00\u7ec4\u6570\u636e\u5f62\u8c61\u5730\u5c55\u793a\u4e86\u79d1\u521b\u677f\u53d6\u5f97\u7684\u6210\u7ee9\u3002<\/p>\n 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\u3000\u3000\u5357\u65b9\u79d1\u6280\u521b\u65b0\u6df7\u5408\u57fa\u91d1\u7ecf\u7406\u738b\u535a\u66f4\u662f\u8ba4\u4e3a\uff0c\u79d1\u521b\u677f\u65b0\u80a1\u5e02\u573a\u8fd1\u534a\u5e74\u51fa\u73b0\u8f83\u591a\u7684\u7834\u53d1\u6848\u4f8b\uff0c\u53ef\u4ee5\u770b\u4f5c\u65b0\u80a1\u5b9a\u4ef7\u5e02\u573a\u5316\u7684\u91cd\u8981\u4f53\u73b0\u3002<\/p>\n \u3000\u3000\u201c\u5728 2021\u5e749\u6708\uff0c\u76d1\u7ba1\u90e8\u95e8\u53d1\u5e03\u4e86\u7f51\u4e0b\u6295\u8d44\u8005\u7684\u65b0\u81ea\u5f8b\u89c4\u5219\uff0c\u5c06\u4e4b\u524d\u7684\u5254\u9664\u9ad8\u62a5\u4ef7\u7684 10%\u6539\u4e3a 1%-3%\uff0c\u53d6\u6d88\u5b9a\u4ef7\u7a81\u7834\u2018\u56db\u6570\u5b70\u4f4e\u503c\u2019\u65f6\u9700\u5ef6\u8fdf\u53d1\u884c\u7684\u8981\u6c42\uff0c\u5f3a\u5316\u673a\u6784\u62a5\u4ef7\u884c\u4e3a\u76d1\u7ba1\uff0c\u6253\u51fb\u673a\u6784\u62b1\u56e2\u884c\u4e3a\uff0c\u4fdd\u969c\u65b0\u80a1\u53d1\u884c\u6210\u529f\u3002\u4e0a\u8ff0\u89c4\u5219\u7684\u5b9e\u65bd\uff0c\u6253\u5f00\u4e86\u516c\u53f8\u65b0\u80a1\u5b9a\u4ef7\u7684\u7a7a\u95f4\uff0c\u4f7f\u66f4\u591a\u5e02\u573a\u53c2\u4e0e\u8005\u80fd\u591f\u4ee5\u516c\u53f8\u4ef7\u503c\u5b9a\u4ef7\u800c\u4e0d\u662f\u4e3a\u4e86\u65b0\u80a1\u5165\u56f4\u800c\u62a5\u4ef7\uff0c\u4ece\u540e\u7eed\u65b0\u80a1\u53d1\u884c\u7684\u5e02\u76c8\u7387\u548c\u53d1\u884c\u4ef7\u6765\u770b\uff0cIPO 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