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报告摘要

ChinaAMC Global ETF Series II (Unaudited Semi-Annual Report: 1 Jan 2024 - 30 June 2024)

Key Fund Information:

This report summarizes the semi-annual financial statements and performance for each sub-fund of ChinaAMC Global ETF Series II managed by China Asset Management (Hong Kong) Limited.

Performance Summary:

ChinaAMC Asia USD Investment Grade Bond ETF (HKD/USD):
- Strategy: Passively tracks the Bloomberg Asia USD Investment Grade Bond Index via representative sampling.
- Performance: Achieved positive returns in both HKD(N) and USD(N) over the reporting period, slightly lower than the index.
- Details: Management changed May 2021, Investment Delegate is Mackenzie Financial Corp.
ChinaAMC Asia High Dividend ETF (HKD):
- Strategy: Primarily full replication of the NASDAQ Asia ex Japan Dividend Achievers Index, up to representative sampling.
- Performance: Strong performance (+9.67%), beating the index (+10.04%), driven by rising high-dividend stocks.
- Details: Management changed May 2021, Investment Delegate is Mackenzie Financial Corp.
ChinaAMC MSCI Japan Hedged to USD ETF (HKD):
- Strategy: Passively tracks MSCI Japan 100% Hedged to USD Index.
- Performance: Strong returns (+23.45%) due to better than expected corporate earnings.
- Details: High redemption activity observed (average daily trading volume ~291k units). Investment Delegate is Mackenzie Financial Corp.
ChinaAMC MSCI Europe Quality Hedged to USD ETF (HKD):
- Strategy: Quality-focused, tracking MSCI Europe Quality 100% Hedged to USD Index.
- Performance: Moderate but positive returns (+9.75%), slightly under-index performance.
- Details: Focus on quality growth stocks. Investment Delegate is Mackenzie Financial Corp.
ChinaAMC NASDAQ 100 ETF (HKD/USD):
- Strategy: Full replication/indexing of the NASDAQ-100 index covering only non-financial companies.
- Performance: Leading performance (+17.13% for HKD, +17.14% for USD), above its benchmark index.
- Details: Management changed May 2021, Investment Delegate is Mackenzie Financial Corp.

Manager Information:

Manager: China Asset Management (Hong Kong) Limited
Investment Delegate: Mackenzie Financial Corporation for all relevant Sub-Funds.

Distribution Summary (Nav/Mark-to-Market):

Sub-Fund	HKD Counter (Nav)	HKD Counter (Mark-to-Market)	USD Counter (Nav)	USD Counter (Mark-to-Market)
Asia USD Investment Grade Bond ETF	+0.82%	+0.57%	-	-
Asia High Dividend ETF	+9.67%	+1.55%	-	-
MSCI Japan Hedged to USD ETF	+4.07%	+2.01%	-	-
MSCI Europe Quality Hedged to USD ETF	+9.75%	+0.98%	-	-
NASDAQ 100 ETF	+4.28%	+7.34%	+6.19%	+7.37%

Distribution Yield Summary:

Sub-Fund	HKD Unit Distribution Yield (30 Jun 2024)
Asia USD Investment Grade Bond ETF	-0.01% (Approx.)
Asia High Dividend ETF	11.00 HK$/Unit
MSCI Japan Hedged to USD ETF	12.00 HK$/Unit (Approx.)
MSCI Europe Quality Hedged to USD ETF	11.00 HK$/Unit (Approx.)
NASDAQ 100 ETF (HKD/USD)	~9.99 HKD/Unit (May 2024)

Summary Outputs:

Core Summary for Key Funds:

RUNNER-UP FUND	STRATEGY	RECENT PERFORMANCE (HKD COUNTER)
High Dividend ETF	Index tracking w/ rebalancing, Rising D/V	+9.67% (Strong)
MSCI Japan ETF	Index hedged, Full Replication Strategy	+23.45% (Outstanding)
NASDAQ 100 ETF	Index full replication, Non-financial index	+4.28% (Leading Nav, +7.34% M2M)
Europe Quality Hedged ETF	Quality Growth, Index hedged	+9.75% (Slight lag)
Asia Bond ETF	Bond Index tracking, Sampled replication	+0.82% (Muted)

Conclusion:

The funds represent diverse exposure across Asia bonds, high-dividend stocks (especially Asia), Japan equities (hedged), Europe quality equities (hedged), and leading US tech (NASDAQ-100). Outstanding performance was reported for Japan and Asia High Dividend ETFs, while the NASDAQ-100 ETF lead via strong index performance, and the MSCI Europe ETF achieved steady growth. Dividend yields are healthy at 11-12+ HK$/Unit.

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