MSCIA 2016 5 MSCI6AMSCI MSCIA MSCIA (1) (2) (3) (4) A A MSCIA AH (ADR) MSCIA 1 1.6 2 A MSCI MSCI 6 MSCIA MSCI AMSCI MSCI 53.2% 2.4% 3 (ADR) 1 A MSCI MSCIMSCI MSCI 2 MSCI evestment Morningstar Bloomberg2015 6 30 3 MSCI Factset2016 3 31 A 1
A A HADR A 6.0 23 4.8 4 A 3% 5 MSCI A MSCI A 2014 3MSCI A MSCI/ (China All Shares index)a MSCI 2015 A MSCI MSCI A A MSCIA (QFII) (RQFII) MSCI A1) 2)A3) A 4) 1.QFII/RQFII/ MSCI QFII/RQFII 2QFII A QFII / 20% 6 MSCI A 7 4 Bloomberg2016 3 30 5 2016 2 QFII RQFII 6 2016 2 7 130232016 3 31 2
2. A QFII RQFII A 8 QFII RQFIIA QFII2002QFIIQFII 2016 2 295 QFII RQFII RQFII2011 RQFII 2016 2 193RQFII 3. A MSCI 4.MSCI 2015 2015 7 50% 9 2015 7 8 2015 5 15 (nominee shareholding) (HKSCC) MSCI A 9 2015 7 9A 2,7811,415A 2015 7 3
2014 11 * QFII/RQFII 10 * AMSCI MSCIA MSCI MSCI 5%MSCI A 11 MSCI 11(SDR) 12 A 2015 6 302.3MSCI 1.6 13 6A MSCIA 51% A 10 11 A 12 2016 10 1 (41.73%)(30.93%) (10.92%)(8.33%)(8.09%) 13 MSCI evestment Morningstar Bloomberg2015 6 30 MSCI MSCI 4
MSCI (100%)A 51% H A 18.0% 18.3% 4.5% 9.7% 12.4% 6.8% 5.5% 4.3% 3.6% 2.9% 14.0% MSCI Consultation on China A-Shares. Index Inclusion Roadmap 2016 4 1 MSCI 2014 A MSCIMSCI HAADR MSCIMSCI ADR A A 2016 5 5% B H ADR % 0.4 40.2 20.1 19.3 19.9 A B H ADR % 3.9 0.5 38.1 19.4 19.2 18.9 A B H ADR % 45.0 0.3 21.8 11.1 11.0 10.9 2016 5 ADR 157 5%A 608 A 608 MSCI2016 1 29 5
MSCI155 14 ADR MSCI MSCIA800 14 MSCIADR MSCI 2015 ADRADR2015 11 30 2016 5 31 MSCI ADR MSCI --2016 5ADR 50% 41.42% 40% 30% 30.33% 30.14% 20% 10% 0% 13.90% 8.87% 6.35% 1.70% 4.72% 8.22% 1.24% ADR2015 10 31 ADR2016 5 31 MSCI MSCI2016 5 11 ADR A H A MSCI A A MSCI A 14 Factset2016 3 31 6
242002 2015 4 2016 4 2008 2014 7 / 2006 1992Grand Regent Investmant Ltd. 1997Overseas Credit and Securities Inc.Taiwan International Investment Management Co. (Drexel University) 2004 2008 2015 3 30 19992004Merrill Lynch Investment Managers RCP & Partners (CFA) 7
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