Wednesday, January 11, 2012

證券商搵RQFII幫補

新年淡靜,禤中怡往日本走一趟,即使由兩個航班合為一班,機上依舊未能爆滿,可見要回復311大地震前水平仍需待一段時間。在東京新宿街頭,百貨公司折扣往往是五折,甚至是四折,也不見太多香港人急急掃貨,相反朋友則滿載而歸,即使要與當地人爭奪一番也值得。

日本政府正建議提高消費稅,從目前的5%,加至2014年的8%,直到2015年10月更要增至10%,主因提高稅收,應付社會保障支出大增的影響。要靠內部加稅,因日圓匯價高企已令出口業叫苦連天,面對外匯收入倒退趨勢,政府還有甚麼板斧呢!

不過,單靠加消費稅這種「塘水滾塘魚」方法難解決政府支出問題。有朝一日,當購物、購物和購物這種消費模式「爆煲」時,不知怎樣撐下去,或許依舊靠內地人的強橫買氣吧!

內地人的氣勢不但橫掃消費業,連金融業也不放過。禤中怡聽聞國有四大行的本港投資銀行部門近期積極物色好手加盟。相反街外卻傳出,有證券商減人手的消息,當中包括凱基和海通證券,但規模有多大就不得而知。

同證券界朋友談起,他第一句就話:「好辛苦」,畢竟從證券交易額看,各證券商能瓜分的比重有限,故此公司最近要求他們增值,幫手搵客分銷RQFII(人民幣合格境外機構投資者)的產品,幫補公司收入。

朋友坦言,現時很難叫客人買港股,而為了留客,只有推介RQFII,畢竟該類產品真正讓他們可以半直接方式投資內地債券和A股市場,有機會財息兼收,即憧憬賺取債息回報,以及人民幣匯價升值,甚至是股市向上等。

現時RQFII將八成資金用作買內地債券,餘下兩成買內地股市,似乎打「穩陣波」,證券界朋友話,從那些基金經理口中得知,由於內地股市未擺脫低迷氣氛,初期投入股市的比重肯定不會那麼進取,但即使買債券,也希望有4至6厘回報。由於溫總最近推出「提振論」,多少為該產品增添吸引力。

禤中怡望望內地國債的到期收益率,介乎2.78至3.67厘,而企業債券到期收益率更和味,有介乎4.49至9.5厘不等,確屬不錯的另一投資渠道。

不過,如果散戶入場便要計數,原來小額投資時,有些RQFII基金的認購費高達5%,而每年管理費亦要1.5%,在左扣右扣下,首年所賺回報便泡湯,比投資離岸人民幣產品的認購費約3%為高。當然,投資有風險,記緊望清楚條款。

(1月11日刊於《am730》)

7 Comments:

At 7:03 AM, Blogger Orchidee said...

散戶認購費用及管理費高逹6.5%,如果回報只有3.67% - 4%,那豈不是不投資反比投資好?

 
At 9:14 AM, Blogger oakleyses said...

air max, burberry outlet, true religion jeans, louboutin, louis vuitton outlet, louboutin, ray ban sunglasses, tiffany and co, coach outlet store online, oakley sunglasses cheap, christian louboutin shoes, longchamp outlet, louis vuitton, true religion jeans, tory burch outlet, kate spade outlet, kate spade handbags, oakley sunglasses, jordan shoes, polo ralph lauren outlet, louis vuitton outlet, louis vuitton handbags, coach outlet, prada outlet, ray ban sunglasses, chanel handbags, michael kors outlet, longchamp handbags, michael kors outlet, oakley sunglasses, nike shoes, air max, coach purses, michael kors outlet, longchamp handbags, louis vuitton outlet stores, nike free, prada handbags, coach factory outlet, gucci outlet, tiffany and co, louboutin outlet, michael kors outlet, polo ralph lauren outlet, michael kors outlet, burberry outlet, michael kors outlet

 
At 9:14 AM, Blogger oakleyses said...

abercrombie and fitch, hollister, sac burberry, sac hermes, nike free pas cher, michael kors, sac guess, timberland, nike free, lululemon, new balance pas cher, true religion outlet, sac louis vuitton, mulberry, louis vuitton uk, longchamp, nike roshe, vans pas cher, air max, louboutin, vanessa bruno, nike blazer, hollister, air force, ray ban pas cher, true religion outlet, north face, oakley pas cher, hogan outlet, nike trainers, nike tn, air jordan, sac louis vuitton, polo lacoste, louis vuitton, air max pas cher, michael kors pas cher, michael kors, polo ralph lauren, sac longchamp, converse pas cher, ralph lauren, nike roshe run, barbour, nike air max, air max, north face, ray ban sunglasses

 
At 9:23 AM, Blogger oakleyses said...

marc jacobs, soccer shoes, abercrombie and fitch, hollister, asics running shoes, canada goose, ugg boots, nfl jerseys, reebok outlet, herve leger, ugg, north face outlet, mont blanc, longchamp, insanity workout, canada goose uk, chi flat iron, babyliss pro, ugg pas cher, ugg australia, canada goose jackets, mcm handbags, canada goose, wedding dresses, new balance shoes, mac cosmetics, soccer jerseys, celine handbags, birkin bag, p90x, ferragamo shoes, valentino shoes, nike huarache, beats by dre, ghd, instyler, jimmy choo outlet, lululemon outlet, bottega veneta, canada goose, rolex watches, canada goose outlet, vans shoes, nike roshe run, moncler, ugg boots, north face jackets, uggs outlet, giuseppe zanotti

 
At 9:36 AM, Blogger oakleyses said...

louboutin, moncler outlet, juicy couture outlet, iphone 6 cases, hollister, moncler, karen millen, oakley, baseball bats, wedding dresses, ray ban, gucci, canada goose, ralph lauren, canada goose, swarovski crystal, hollister clothing store, moncler, air max, converse, pandora jewelry, juicy couture outlet, rolex watches, moncler, supra shoes, moncler, pandora charms, ugg, vans, toms shoes, links of london, pandora charms, air max, timberland boots, parajumpers, hollister, thomas sabo, louis vuitton, montre homme, coach outlet store online, lancel, ugg, swarovski, moncler, converse shoes

 
At 11:55 AM, Blogger mmjiaxin said...

nike air huarache
moncler jackets
black friday 2015
ugg boots sale
north face jackets
true religion outlet
winter jackets
tiffany and co
ralph lauren polo
links of london jewellery
michael kors handbags
nfl jersey wholesale
michael kors handbags wholesale
instyler ionic styler
michael kors outlet online
michael kors uk
pandora outlet
michael kors outlet online
salomon shoes
hermes belt for sale
mm1130

 
At 10:21 AM, Blogger 艾丰 said...

jianbin1201
michael kors outlet sale
tory burch handbags
prada handbags
puma shoes
michael kors handbags wholesale
fitflop outlet
canada goose sale
michael kors online outlet
wedding dresses
michael kors handbags
uggs on sale
ugg clearance
tods shoes
bottega veneta outlet online
uggs outlet
links of london uk
replica watches
nike shoes
arizona cardinals
mont blanc
lululemon outlet store
miami dolphins
basketball shoes
cleveland cavaliers
michael kors handbags,michael kors outlet,michael kors,kors outlet,michael kors outlet online,michael kors outlet online sale,michael kors handbags clearance,michael kors purses,michaelkors.com,michael kors bags,michael kors shoes,michaelkors,cheap michael kors
michael kors outlet online
salomon speedcross 3
abercrombie fitch
iphone cases
cheap oakley sunglasses
louis vuitton uk
nike huarache
woolrich clothing
celine outlet online

 

Post a Comment

<< Home