High-dividend assets become a "safe haven" for funds. The average net asset value growth rate of coal-themed funds within the month exceeds 4%.

Wind information data shows that as of May 23, all 46 coal industry themed funds in the whole market have seen an increase in net asset value since May, with an average growth rate of 4.11%. Among them, 10 funds including China Merchants China Coal Equal Weight Index A, Huatai Backward Investment Hybrid A, and Jiashi Resource Select Stocks A have all seen a net asset value growth rate exceeding 5%. In response, Dai Jingxia, a senior analyst at Morningstar Fund Research Center, analyzed that three main factors constitute the main support: Firstly, in the backdrop of declining interest rates, the coal industry, as a representative of high dividend asset, has once again attracted attention for its allocation value, leading some funds to shift towards the coal sector. Secondly, policies encouraging listed companies to increase dividends may lead to increased frequency and higher percentage of dividends in the coal sector, enhancing the certainty of high dividend and high yield. Thirdly, the marginally improved supply-demand situation, as the continuous decline in coal prices has led to some coal mines actively or passively reducing production, resulting in a decline in domestic supply, while demand is expected to increase during the peak summer electricity consumption period. With this two-way adjustment in supply and demand, market confidence in the bottom support of coal prices has significantly increased.