This year, the enthusiasm for public fund dividends has not waned, with both the cumulative number of dividends and the total amount showing a positive growth trend. Wind data shows that as of September 19th, approximately 2381 funds in the entire public market have conducted dividends, with the total dividend amount exceeding 126 billion yuan.
ETF Dividends Become a "New Trend"
ETF products have become the "new force" in this year's dividends. So far this year, the top three products in terms of dividend amounts are all ETF products, among which the dividend of Harvest CSI 300 ETF is about 1.6 billion yuan, ranking second.
Since 2024, various fund companies have paid more attention to the dividend distribution of ETF products, with a trend of monthly and quarterly dividend products gradually emerging.
The recently concluded early fundraising of Harvest Zhongzheng A500 ETF has adopted a quarterly dividend mechanism to distribute dividends for excess returns. According to the fund contract, when the excess return rate is greater than 0, the fund will distribute returns, and the distribution ratio will not be less than 60% of the excess return rate. It is reported that among the first batch of Zhongzheng A500 ETFs, 9 have adopted a regular dividend mechanism, which to some extent also shows the market and investors' pursuit and demand for regular dividend products.
It is worth mentioning that the dividend of the low-volatility ETF is also highly concerned. On September 19th, Harvest CSI 300 Low Volatility Dividend issued the second income distribution announcement for 2024. This year, Harvest CSI 300 Low Volatility Dividend ETF has distributed dividends 3 times, and Harvest CSI 300 Low Volatility Dividend ETF has distributed dividends 2 times, with the total annual dividend amount exceeding 356 million yuan (data source: Harvest official website product income distribution announcement, as of September 19th).
Under the condition of holding the fund share unchanged, ETF dividends can realize the return of funds and help investors lock in a part of the returns. Harvest Fund stated that as the market continues to fluctuate, investors' pursuit of the stability of returns has become more intense. Fund companies, by distributing dividends, not only respond to this demand but also allow investors to actually feel the returns of investing in ETFs, enhance confidence, and attract more capital inflow.
Bond Fund Dividends Become the "Main Force"
In 2023, the "main force" of public fund market dividends was bond funds, accounting for about 82% of the total fund dividends in 2023. The total dividend amount of bond funds in 2023 reached 185.826 billion yuan, a nearly 6% increase compared to 2022 (data source: Wind, as of the end of 2023).
This year, the dividend distribution of bond funds has been dominant. As of September 19th, the annual dividend total of bond funds exceeded 110 billion yuan, accounting for about 84% of the total dividend amount so far this year (data source: Wind). Among them, Harvest Ultra-Short Bond C ranked first in the number of bond fund dividends, with 9 dividends so far this year. Overall, Harvest Ultra-Short Bond C has accumulated a total of 187 dividend times, and the total amount of dividends for Harvest Ultra-Short Bond A and C classes exceeded 3.2 billion yuan (data source: Harvest official website product income distribution announcement, as of September 19th).In this year, among the 379 funds with dividend payments exceeding 100 million yuan, more than 330 were bond funds; among the 24 funds with dividend payments exceeding 500 million yuan within the year, 17 were bond funds. Stable and regular dividends, accompanied by a prudent investment philosophy, have made an increasing number of investors favor bond funds. Currently, Harvest Fund has 30 bond funds with a cumulative dividend payment exceeding 10 times. Four bond funds have a cumulative total dividend payment exceeding 1.5 billion yuan (data source: Harvest official website product income distribution announcement, as of September 19).
Bond fund products can meet investors' preferences for stable returns and low volatility strategies through active dividend payments. Regular dividends also give fund managers the opportunity to optimize investment portfolios and control fund sizes, which also has a certain positive significance for the investment operation of bond funds.
Continuous dividends enhance investor experience
Nowadays, the products of fund dividends also show a more diversified trend.
The public offering REITs market shows a strong dividend momentum. As of September 19, the total annual dividend of public offering REITs in the market has reached 5.3 billion yuan, and 35 products have paid dividends more than once within the year. Among them, Harvest Real Beauty Consumption REIT is currently the only product in the market that introduces the "dividend exemption mechanism". Harvest JD Logistics Infrastructure REIT has paid dividends 4 times, with a total dividend payment exceeding 112 million yuan (data source: Harvest official website product income distribution announcement, as of September 19).
From 1998 to the present 26 years, the total dividend scale of public offering funds has been steadily increasing. According to the "1998-2023 Public Offering Fund Cumulative Dividend Data Report" of the China Galaxy Securities Fund Research Center, the total dividend of public offering funds from 1998 to 2023 was 4,824.65 billion yuan.
Continuous dividends release positive investment confidence. The continuous increase in total dividend and dividend frequency also reflects the public offering fund's sincerity to investors. Taking the old ten Harvest Funds as an example, as of September 19, the cumulative dividend of public offering fund products under Harvest Fund exceeded 101.4 billion yuan, and the single fund of Harvest Theme Selection alone had a cumulative total dividend payment exceeding 10 billion yuan, with a total of 23 dividend payments. Harvest Fund has 13 products with a cumulative dividend exceeding 1 billion yuan, including index tools such as Harvest CSI 300 ETF and CSI 300 ETF connection; stock-mixed funds such as Harvest Research Selection, Harvest Growth Income, and Harvest Strategy Growth; and bond funds such as Harvest Ultra-Short Debt and Harvest Bonds, covering a variety of products to meet the financial needs of investors of all kinds (data source: Harvest official website product income distribution announcement, as of September 19).
Nowadays, in the continuously fluctuating market, investors pay more and more attention to dividends. Fund companies continue to increase the dividend strength of their funds, and the public offering fund industry has also carried out a series of innovative attempts in the dividend model to meet the needs of different investors. It can be foreseen that the dividend of public offering funds will still show a positive growth trend. By actively paying dividends to investors, helping investors "pocket safety", enhancing the sense of gain for investors, and improving the investment experience, it will help investors to cope with short-term market fluctuations with a more peaceful attitude and practice the concept of long-term investment.
Risk warning: The above views do not constitute specific investment advice. Fund investment should be cautious. Investors should carefully read the fund legal documents such as the "Fund Contract", "Prospectus", and "Product Material Summary" to understand the risk-return characteristics and specific risks of the fund, and judge whether the fund is suitable for the investor's risk tolerance based on their own investment purpose, investment period, investment experience, and asset status. The fund manager does not guarantee that the fund will definitely make a profit, nor does it guarantee the minimum return or the capital will not be lost. The past performance and net value of the fund do not predict its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the performance of this fund.