2025-04-17-港交所-华夏恒ＥＳＧ_华夏恒ＥＳＧ－Ｕ_华夏恒ＥＳＧ－Ｒ_2024_年度报告_59页_1mb

报告摘要

ChinaAMC HSI ESG ETF Annual Report Summary (2024)

Basic Information

Fund Type: Passively managed ETF, sub-fund of ChinaAMC Global ETF Series.
Launch Date: Trading commenced on 10 November 2022 (stock codes: 3403/HKD, 83403/RMB, 9403/USD).
Benchmark: HSI ESG Enhanced Index, tracking Hong Kong stocks with ESG integration.
Structure: Physical ETF replicating index via full replication or representative sampling strategies.
Acting Parties:
- Manager: China Asset Management (Hong Kong) Limited.
- Trustee: HSBC Institutional Trust Services (Asia) Limited.

Financial Performance (As of 31 December 2024)

Portfolio Value: HKD7.72T (2023: HKD7.22T).
Key Metrics:
- Management Fee: 0.15% (paid monthly).
- Auditor: Ernst & Young.
- Annual Profit: HKD941B (2023: HKD405B).
- Total Assets: HKD7.83T (2023: HKD7.24T).
Performance Comparison (vs Index):
- 1-Year: Sub-Fund outperformed the index by approximately 0.2% (e.g., index +11.58%, Sub-Fund +11.80% for HKD counter).

Investment Portfolio & Strategy

Total Holdings: 71 constituent securities under index replication.
Industries Distribution (as of 31 Dec 2024):
- Top sectors: Financial (44%), Communications (32%), Industrial (2%), Consumer (16%).
- Top Stocks: Tencent, Alibaba, AIA, HSBC, Xiaomi.
Security Lending Activities:
- Value lent: HKD488.8M (6.30% of NAV).
- Top counterparties: Barclays, Goldman Sachs, UBS.

Operational Details

Unit Holders: Outstanding units: 188M (as of 31 Dec 2024).
Redemptions/Issuances: Annual cycle sees large trading volumes (e.g., HKD Counter: 291,639 units/day).
Regulatory Compliance: Adherence to SFC Code.

Key Observations

Sub-Fund aligns with Hong Kong equities and ESG themes.
Market performance slightly better than benchmark, but ESG index tracking involves risks inherent to Hong Kong stocks.
Manager disclosures provide views on risk management and portfolio stability.

Note: The summary includes core operational, financial, and performance highlights based on pages 1–10 and periodic financial statements; detailed report review was conducted.

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