{"id":200,"date":"2016-06-25T16:14:38","date_gmt":"2016-06-25T07:14:38","guid":{"rendered":"http:\/\/finance-gfp.com\/?page_id=200"},"modified":"2024-11-09T09:38:32","modified_gmt":"2024-11-09T00:38:32","slug":"hifumi","status":"publish","type":"post","link":"https:\/\/finance-gfp.com\/?p=200","title":{"rendered":"\u65e5\u672c\u682a\u6295\u8cc7\u306e\u30dd\u30a4\u30f3\u30c8\u3010\u3072\u3075\u307f\u6295\u4fe1\u3092\u4f8b\u306b\u89e3\u8aac\u3011"},"content":{"rendered":"<p><span class=\"ymarker-s\">\u3053\u3061\u3089\u306e\u30da\u30fc\u30b8\u306f\u300c\u3072\u3075\u307f\u6295\u4fe1\u30fb\u3072\u3075\u307f\u30d7\u30e9\u30b9\u300d\u3092\u4f8b\u306b\u65e5\u672c\u682a\u306e\u30dd\u30a4\u30f3\u30c8\u3084\u30ea\u30b9\u30af\u3092\u63b2\u8f09\u3057\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p>\u5927\u90e8\u5206\u306f\u65e5\u672c\u682a\u5168\u822c\u306b\u5171\u901a\u3059\u308b\u5185\u5bb9\u3067\u3059\u306e\u3067\u3001\u65e5\u672c\u682a\u306e\u898b\u901a\u3057\u3092\u5206\u6790\u3059\u308b\u4e0a\u3067\u6d3b\u7528\u3044\u305f\u3060\u3051\u307e\u3059\u3002<\/p>\n<p>\u65e5\u672c\u682a\u306e\u30dd\u30a4\u30f3\u30c8\u3092\u307e\u3068\u3081\u308b\u3068\u4e0b\u8a18\u306e\u901a\u308a\u3067\u3059\u3002<\/p>\n<ul>\n<li><span class=\"rmarker-s\">ROE\u7d4c\u55b6\u304c\u6d78\u900f<\/span><\/li>\n<li><span class=\"rmarker-s\">\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306f\u9069\u6b63\u6c34\u6e96\u307e\u3067\u4f4e\u4e0b<\/span><\/li>\n<li><span 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href=\"https:\/\/finance-gfp.com\/?p=4998\" target=\"_blank\" rel=\"noopener noreferrer\">\u65e5\u672c\u682a\uff08\u65e5\u7d4c\u5e73\u5747\uff09\u3068\u30c9\u30eb\u5186\u30ec\u30fc\u30c8\u9577\u671f\u63a8\u79fb\uff08\u30c1\u30e3\u30fc\u30c8\u30fb\u5909\u52d5\u8981\u56e0\uff09<\/a><\/p>\n<h3>\u5546\u54c1\u7d44\u6210\u4e0a\u306e\u7279\u5fb4<\/h3>\n<ul>\n<li>\u3072\u3075\u307f\u6295\u4fe1\uff1a\u30ec\u30aa\u30b9\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\u30ef\u30fc\u30af\u30b9\u306e\u76f4\u8ca9<\/li>\n<li>\u3072\u3075\u307f\u30d7\u30e9\u30b9\uff1a\u305d\u306e\u4ed6\u8ca9\u58f2\u4f1a\u793e<\/li>\n<li>\u3072\u3075\u307f\u5e74\u91d1\uff1a\u78ba\u5b9a\u62e0\u51fa\u5e74\u91d1\u5411\u3051<\/li>\n<li>\u76f4\u8ca9\u306e\u3072\u3075\u307f\u6295\u4fe1\u306f5\u5e74\u4ee5\u4e0a\u4fdd\u6709\u3059\u308b\u3068\u4fe1\u8a17\u5831\u916c\u306e\u4e00\u90e8\u3092\u8fd4\u9084\u3059\u308b\u30b7\u30b9\u30c6\u30e0\u3002\u4fdd\u6709\u671f\u95935\u301c10\u5e74\u30670.2%\u300110\u5e74\u4ee5\u4e0a\u30670.4%\u3092\u9084\u5143\u3002<\/li>\n<li>\u6bce\u67081\u4e07\u5186\u304b\u3089\u306e\u7a4d\u7acb\u3082\u53ef\u80fd<\/li>\n<\/ul>\n<h3>\u4fe1\u8a17\u5831\u916c<\/h3>\n<ul>\n<li>1.078\uff05\uff08\u76f4\u8ca9\u306e\u300c\u3072\u3075\u307f\u6295\u4fe1\u300d\u306e\u307f\u4fe1\u8a17\u5831\u916c\u4e00\u90e8\u9084\u5143\u65b9\u5f0f\u3092\u63a1\u7528\uff09<\/li>\n<\/ul>\n<h2>\u65e5\u672c\u682a\u306e\u30dd\u30a4\u30f3\u30c8<\/h2>\n<h3>\u65e5\u9280\u306b\u3088\u308bETF\u8cb7\u5165\u308c<\/h3>\n<ul>\n<li>2013\u5e744\u6708\u3001\u5e74\u95931\u5146\u5186\u3092\u4e0a\u9650\u306b\u8cb7\u5165\u308c\u958b\u59cb<\/li>\n<li>2014\u5e7410\u6708\u30013\u5146\u5186\u306b\u5897\u984d<\/li>\n<li>2016\u5e747\u6708\u30016\u5146\u5186\u306b\u5897\u984d<\/li>\n<li>2020\u5e743\u6708\u300112\u5146\u5186\u306b\u5897\u984d<\/li>\n<\/ul>\n<h3>\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30ac\u30d0\u30ca\u30f3\u30b9\u30b3\u30fc\u30c9\u30fb\u30b9\u30c1\u30e5\u30ef\u30fc\u30c9\u30b7\u30c3\u30d7\u30b3\u30fc\u30c9\u306b\u3088\u308bROE\u7d4c\u55b6\u306e\u63a8\u9032<\/h3>\n<ul>\n<li>\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30ac\u30d0\u30ca\u30f3\u30b9\u30b3\u30fc\u30c9\u3068\u30b9\u30c1\u30e5\u30ef\u30fc\u30c9\u30b7\u30c3\u30d7\u30b3\u30fc\u30c9\u306e\u5c0e\u5165\u306b\u3088\u308a\u4f01\u696d\u306f\u682a\u4fa1\u3092\u610f\u8b58\u3057\u305f\u7d4c\u55b6\u3078\u30b7\u30d5\u30c8\u3001\u5177\u4f53\u7684\u306b\u306fROE\u3092\u9ad8\u3081\u308b\u7d4c\u55b6\u306b\u30b7\u30d5\u30c8\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u65e5\u672c\u682a\u306b\u3068\u3063\u3066\u9577\u671f\u7684\u306b\u30d7\u30e9\u30b9\u3068\u306a\u308b\u3002<\/li>\n<li>\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30ac\u30d0\u30ca\u30f3\u30b9\u30b3\u30fc\u30c9\u306f\u7d4c\u55b6\u5074\u3001\u30b9\u30c1\u30e5\u30ef\u30fc\u30c9\u30b7\u30c3\u30d7\u30b3\u30fc\u30c9\u306f\u6295\u8cc7\u5bb6\uff08\u6a5f\u95a2\u6295\u8cc7\u5bb6\uff09\u5074\u306e\u884c\u52d5\u6307\u91dd\u3092\u5b9a\u3081\u308b\u3082\u306e\u3067\u3042\u308b\u3002<\/li>\n<li>\u6b27\u7c73\u3067\u306f\u5f93\u524d\u3088\u308a\u4f01\u696d\u3092\u7d4c\u55b6\u3059\u308b\u3046\u3048\u3067ROE\u304c\u91cd\u8996\u3055\u308c\u3066\u304a\u308a\u3001\u4eca\u5f8c\u65e5\u672c\u3067\u3082\u91cd\u8996\u3055\u308c\u3066\u3044\u304f\u65b9\u5411\u3068\u306a\u308b\u3002<\/li>\n<li>\u307e\u305f\u3001\u6a5f\u95a2\u6295\u8cc7\u5bb6\u30b5\u30a4\u30c9\u3067\u306f\u4f4eROE\u304c\u7d99\u7d9a\u3057\u305f\u4f01\u696d\u306b\u5bfe\u3057\u3001\u682a\u4e3b\u7dcf\u4f1a\u3067\u30c8\u30c3\u30d7\u306e\u9078\u4efb\u306b\u53cd\u5bfe\u3059\u308b\u6d41\u308c\u306b\u306a\u3063\u3066\u3044\u308b\u3002\uff08\u6700\u521d\u306b\u8b70\u6c7a\u6a29\u884c\u4f7f\u52a9\u8a00\u4f1a\u793e\u306e\u6700\u5927\u624bISS\u304c\u610f\u5411\u3092\u8868\u660e\u3057\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u304c\u51fa\u6765\u4e0a\u304c\u3063\u305f\u3068\u307f\u3089\u308c\u308b\uff09<\/li>\n<\/ul>\n<h3>JPX400\u3082ROE\u7d4c\u55b6\u3092\u63a8\u9032<\/h3>\n<ul>\n<li>\u4e0a\u8a18\u306e\u6d41\u308c\u306b\u5408\u308f\u305b\u3066\u6771\u8a3c\u304cJPX400\u3068\u3044\u3046ROE\u304c\u9ad8\u3044\u4f01\u696d\u304c\u9078\u3070\u308c\u3084\u3059\u3044\u65b0\u305f\u306a\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u3092\u4f5c\u6210\u3057\u3001ROE\u7d4c\u55b6\u306e\u6d41\u308c\u3092\u30d0\u30c3\u30af\u30a2\u30c3\u30d7\u3057\u3066\u3044\u308b\u3002\uff08\u3055\u3089\u306b\u65e5\u9280\u306f\u8cfc\u5165\u3059\u308bETF\u306e\u4e00\u90e8\u3067JPX400\u306b\u9023\u52d5\u3059\u308bETF\u3092\u8cfc\u5165\u3057\u3066\u3044\u308b\uff09<\/li>\n<li>JPX400\u306b\u5165\u308a\u305f\u3051\u308c\u3070ROE\u3092\u4e0a\u3052\u306a\u3055\u3044\u3068\u3044\u3046\u30e1\u30c3\u30bb\u30fc\u30b8\u3002<\/li>\n<li>ROE\u3092\u4e0a\u3052\u308b\u305f\u3081\u306b\u306f\u5229\u76ca\u3092\u5897\u3084\u3059\u304b\u3001\u682a\u4e3b\u8cc7\u672c\u3092\u6e1b\u3089\u3059\u304b\u3069\u3061\u3089\u304b\u3067\u3042\u308b\u3002\u3053\u308c\u307e\u3067\u3082\u5229\u76ca\u306f\u5c11\u3057\u3067\u3082\u5897\u3084\u305d\u3046\u3068\u7d4c\u55b6\u3057\u3066\u3044\u305f\u306f\u305a\u3067\u3042\u308b\u70ba\u3001\u65b0\u3057\u304f\u3067\u304d\u308b\u3053\u3068\u306f\u5fc5\u8981\u4ee5\u4e0a\u306b\u682a\u4e3b\u8cc7\u672c\u3092\u305f\u3081\u8fbc\u307e\u306a\u3044\u3067\u682a\u4e3b\u9084\u5143\u3092\u3059\u308b\u3053\u3068\u3067\u3042\u308b\u3002\u5177\u4f53\u7684\u306a\u30a2\u30af\u30b7\u30e7\u30f3\u3068\u3057\u3066\u306f\u5897\u914d\u3068\u81ea\u793e\u682a\u8cb7\u3044\u3067\u3042\u308b\u3002\u3059\u3067\u306b\u59cb\u307e\u3063\u3066\u3044\u308b\u304c\u3001\u4eca\u5f8c\u3001\u5897\u914d\u3068\u81ea\u793e\u682a\u8cb7\u3044\u3068\u3044\u3046\u682a\u4e3b\u9084\u5143\u304c\u5897\u3048\u3001ROE\u304c\u9ad8\u307e\u308b\u3053\u3068\u3067\u65e5\u672c\u682a\u306e\u8a55\u4fa1\u3082\u9ad8\u307e\u308b\u3068\u8003\u3048\u3089\u308c\u308b<\/li>\n<\/ul>\n<h3>GPIF\u306e\u682a\u5f0f\u4fdd\u6709\u6bd4\u7387\u62e1\u5927<\/h3>\n<ul>\n<li>GPIF\uff08\u516c\u7684\u5e74\u91d1\uff09\u306e\u30dd\u30fc\u30c8\u306b\u5360\u3081\u308b\u65e5\u672c\u682a\u5f0f\u306e\u6bd4\u7387\u309212%\u304b\u308925%\u306b\u62e1\u5927\u3002<\/li>\n<li>\u5171\u6e08\/\u3086\u3046\u3061\u3087\/\u304b\u3093\u307d\u7b49\u3082\u682a\u5f0f\u6bd4\u7387\u3092\u62e1\u5927\u3057\u3066\u304a\u308a\u65e5\u672c\u5168\u4f53\uff08\u65e5\u9280\u3001\u653f\u5e9c\u3001\u6771\u8a3c\u3001\u5e74\u91d1\uff09\u3067\u682a\u5f0f\u5e02\u5834\u306b\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u3057\u3066\u3044\u3053\u3046\u3068\u3044\u3046\u3082\u306e\u3002<\/li>\n<\/ul>\n<h3>\u65e5\u9280\u306e\u91d1\u878d\u7de9\u548c\u30fb\u30a4\u30f3\u30d5\u30ec\u30bf\u30fc\u30b2\u30c3\u30c8\u5c0e\u5165\u306b\u3088\u308a\u5186\u9ad8\u306b\u306a\u308a\u306b\u304f\u3044\u74b0\u5883<\/h3>\n<ul>\n<li>\u65e5\u672c\u306e\u682a\u5f0f\u5e02\u5834\u306f\u5927\u624b\u4f01\u696d\u306b\u8f38\u51fa\u95a2\u9023\u4f01\u696d\u304c\u591a\u3044\u3053\u3068\u304b\u3089\u3001\u70ba\u66ff\u304c\u5186\u9ad8\u306b\u306a\u308b\u3068\u5229\u76ca\u304c\u6e1b\u5c11\u3059\u308b\u3053\u3068\u3068\u306a\u308a\u3001\u682a\u5f0f\u5e02\u5834\u3082\u4e0b\u843d\u3059\u308b\u30b1\u30fc\u30b9\u304c\u591a\u304f\u3042\u3063\u305f\u3002<\/li>\n<li>\u4eca\u56de\u3001\u65e5\u9280\u306f\u91d1\u878d\u7de9\u548c\u3068\u540c\u6642\u306b2\uff05\u306e\u30a4\u30f3\u30d5\u30ec\u30bf\u30fc\u30b2\u30c3\u30c8\u3092\u767a\u8868\u3057\u305f\u3002<br \/>\n\u7c73\u56fdFRB\u3001\u6b27\u5ddeECB\u3082\u7d042\uff05\u306e\u30a4\u30f3\u30d5\u30ec\u3092\u57fa\u6e96\u306b\u304a\u3044\u3066\u304a\u308a\u6b27\u7c73\u3068\u540c\u3058\u30ec\u30d9\u30eb\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u76ee\u6307\u3059\u3068\u3044\u3046\u3082\u306e\u3067\u3042\u308b\u3002<\/li>\n<li>\u3053\u308c\u304c\u4f55\u3092\u610f\u5473\u3059\u308b\u304b\u3068\u3044\u3046\u3068\u3001\u8cfc\u8cb7\u529b\u5e73\u4fa1\u3067\u306e\u5186\u9ad8\u30c8\u30ec\u30f3\u30c9\u3092\u30b9\u30c8\u30c3\u30d7\u3055\u305b\u3088\u3046\u3068\u3059\u308b\u3082\u306e\u3067\u3042\u308b\u3002<\/li>\n<li>\u3053\u308c\u307e\u3067\u3082\u305d\u3046\u3067\u3042\u3063\u305f\u304c\u65e5\u672c\u304c\u6b27\u7c73\u3088\u308a\u3082\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4f4e\u3044\u30681\u72691\u4fa1\u306e\u6cd5\u5247\uff08\u8cfc\u8cb7\u529b\u5e73\u4fa1\uff09\u3067\u306f\u5186\u304c\u9ad8\u304f\u306a\u3063\u3066\u3057\u307e\u3046\u3002\u6b27\u7c73\u3068\u540c\u3058\u30a4\u30f3\u30d5\u30ec\u7387\u306b\u3059\u308b\u3053\u3068\u306b\u3088\u3063\u3066\u3001\u3082\u3063\u3068\u3082\u30d9\u30fc\u30b7\u30c3\u30af\u306a\u90e8\u5206\u306e\u5186\u9ad8\u8981\u56e0\u3092\u6392\u9664\u3057\u3088\u3046\u3068\u3044\u3046\u3082\u306e\u3067\u3001\u975e\u5e38\u306b\u8a55\u4fa1\u3067\u304d\u308b\u3002<\/li>\n<li>\u3053\u308c\u304c\u4e0a\u624b\u304f\u3044\u3051\u3070\u3001\u9577\u671f\u30c8\u30ec\u30f3\u30c9\u3068\u3057\u3066\u306e\u5186\u9ad8\u304c\u306a\u304f\u306a\u308b\u306e\u3067\u65e5\u672c\u682a\u306b\u3068\u3063\u3066\u306f\u5927\u304d\u306a\u30d7\u30e9\u30b9\u3067\u3042\u308b\u3002<br \/>\n\uff08\u53c2\u8003\u30da\u30fc\u30b8\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=812\" target=\"_blank\" rel=\"noopener noreferrer\">\u70ba\u66ff\u30ec\u30fc\u30c8\u306e\u4e88\u60f3\u30fb\u5206\u6790\u306f\u5b9f\u8cea\u91d1\u5229\u5dee\u30fb\u8cfc\u8cb7\u529b\u5e73\u4fa1\u3092\u6d3b\u7528<\/a>\uff09<\/li>\n<\/ul>\n<h3>\u65e5\u672c\u682a\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306f\u6614\u3068\u9055\u3044\u9069\u6b63\u306b\u306a\u3063\u305f<\/h3>\n<ul>\n<li>\u30d0\u30d6\u30eb\u5d29\u58ca\u5f8c\u306e1990\u5e74\u4ee3\u306b\u65e5\u7d4c\u5e73\u5747\u304c23,000\u5186\u524d\u5f8c\u3067\u3042\u3063\u305f\u969b\u3067\u3082PER\u304c50\u500d\u4ee5\u4e0a\u3067\u3042\u3063\u305f<\/li>\n<li>1990\u5e74\u4ee3\u306f\u91d1\u878d\u6a5f\u95a2\u3092\u306f\u3058\u3081\u3068\u3059\u308b\u6301\u3061\u5408\u3044\u682a\u5f0f\u306e\u5272\u5408\u304c\u5168\u4f53\u306e\u7d0430\uff05\u524d\u5f8c\u3067\u3042\u3063\u305f\u3053\u3068\u3092\u7406\u7531\u306b\u9ad8\u3044PER\u304c\u80af\u5b9a\u3055\u308c\u3066\u3044\u305f<\/li>\n<li>\u3057\u304b\u3057\u30012021\u5e74\u306b\u65e5\u7d4c\u5e73\u5747\u304c30,000\u5186\u524d\u5f8c\u307e\u3067\u4e0a\u6607\u3057\u305f\u5834\u5408\u3067\u3082PER\u306f14\u500d\u524d\u5f8c\u3068\u9069\u6b63\u6c34\u6e96\u3067\u3042\u308a\u3001\u975e\u52b9\u7387\u3067\u76f8\u5834\u3092\u6b6a\u3081\u308b\u8981\u56e0\u3068\u306a\u3063\u3066\u3044\u305f\u6301\u3061\u5408\u3044\u682a\u306e\u6bd4\u7387\u308210\uff05\u672a\u6e80\u307e\u3067\u6e1b\u5c11\u3057\u3066\u3044\u308b<\/li>\n<li>\u3064\u307e\u308a\u3001\u30d0\u30d6\u30eb\u5d29\u58ca\u5f8c\u3001\u6642\u9593\u306f\u304b\u304b\u3063\u305f\u304c\u3001\u3088\u3046\u3084\u304f\u5065\u5168\u306a\u682a\u5f0f\u5e02\u5834\u306b\u306a\u3063\u305f\u3068\u3044\u3048\u308b<\/li>\n<li>\u65e5\u672c\u682a\u3068\u7c73\u56fd\u682a\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306e\u63a8\u79fb\u306f\u3053\u3061\u3089\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=6403\" target=\"_blank\" rel=\"noopener noreferrer\">\u65e5\u672c\u682a(TOPIX)\u3068\u7c73\u56fd\u682a(S&amp;P500)\u306e\u4e88\u60f3PER\u30fb\u5b9f\u7e3ePBR\u63a8\u79fb<\/a><\/li>\n<\/ul>\n<h2>\u65e5\u672c\u682a\u306e\u30ea\u30b9\u30af\u30fb\u30c7\u30e1\u30ea\u30c3\u30c8<\/h2>\n<h3>\u70ba\u66ff\u30ec\u30fc\u30c8\u306e\u5f71\u97ff\u3092\u53d7\u3051\u308b<\/h3>\n<ul>\n<li>\u65e5\u672c\u306e\u682a\u5f0f\u5e02\u5834\u306f\u30c9\u30eb\u5186\u306e\u70ba\u66ff\u306e\u30ec\u30fc\u30c8\u306b\u5927\u304d\u304f\u5f71\u97ff\u3092\u53d7\u3051\u308b\uff08\u30a2\u30d9\u30ce\u30df\u30af\u30b9\u5f8c\u306e2012\u301c2014\u5e74\u306e\u4e0a\u6607\u30822\/3\u306f\u5186\u5b89\u3067\u8aac\u660e\u3067\u304d\u308b\uff09<\/li>\n<li>\u3088\u3063\u3066\u3001\u5186\u9ad8\u5c40\u9762\u3067\u306f\u8abf\u6574\u3059\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044<\/li>\n<li>\uff11\uff05\u306e\u5186\u9ad8\u3067\u65e5\u7d4c\u5e73\u5747\u304c2\uff05\u4e0b\u843d\u3059\u308b\u3068\u3082\u8a00\u308f\u308c\u3066\u3044\u308b<\/li>\n<li>\u65e5\u672c\u5168\u4f53\u3067\u898b\u308c\u3070\u5186\u9ad8\u306b\u306a\u3063\u305f\u65b9\u304c\u30d7\u30e9\u30b9\u3068\u3044\u308f\u308c\u308b\u304c\u3001\u4e0a\u5834\u4f01\u696d\u306e\u307f\u3067\u898b\u305f\u5834\u5408\u306f\u5186\u9ad8\u306f\u30de\u30a4\u30ca\u30b9\u306b\u306a\u308b<\/li>\n<\/ul>\n<h3>\u65e5\u672c\u7d4c\u6e08\u306e\u4f4e\u8ff7<\/h3>\n<ul>\n<li>\u4eba\u53e3\u30fb\u751f\u7523\u5e74\u9f62\u4eba\u53e3\u304c\u6e1b\u5c11<\/li>\n<li>\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4f4e\u4f4d\u5b89\u5b9a<\/li>\n<li>\u751f\u7523\u6027\u4f4e\u4e0b<\/li>\n<li>\u3053\u308c\u3089\u306e\u8981\u56e0\u3067\u7d4c\u6e08\u6210\u9577\u304c\u4f4e\u8ff7\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b<\/li>\n<\/ul>\n<h2>\u3072\u3075\u307f\u6295\u4fe1\u306e\u30dd\u30a4\u30f3\u30c8\u30fb\u30e1\u30ea\u30c3\u30c8<\/h2>\n<h3>\u3072\u3075\u307f\u6295\u4fe1\u306e5\u3064\u306e\u9b45\u529b<\/h3>\n<p>(by\u85e4\u91ce\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc)<\/p>\n<ol>\n<li>\u5b88\u308a\u306a\u304c\u3089\u5897\u3084\u3059\u904b\u7528<\/li>\n<li>\u7c21\u5358\u3067\u697d\u3061\u3093<\/li>\n<li>\u30b3\u30b9\u30c8\u304c\u5b89\u3044<\/li>\n<li>\u9854\u306e\u898b\u3048\u308b\u904b\u7528<\/li>\n<li>\u30a4\u30b1\u3066\u308b\u5c02\u9580\u5bb6\u96c6\u56e3\u306b\u3088\u308b\u904b\u7528\u3002\u7279\u306b\u85e4\u91ce\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u306f\u91ce\u6751\u30a2\u30bb\u30c3\u30c8\u3001\u30b8\u30e3\u30fc\u30c7\u30a3\u30f3\u30d5\u30ec\u30df\u30f3\u30b0\u3001\u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30b5\u30c3\u30af\u30b9\u30a2\u30bb\u30c3\u30c8\u3067\u65e5\u672c\u306e\u5c0f\u578b\u682a\u904b\u7528\u3067\u306f\u8457\u540d\u306a\u4eba\u7269<\/li>\n<\/ol>\n<h3>\u6a5f\u52d5\u7684\u306b\u30ad\u30e3\u30c3\u30b7\u30e5\u6bd4\u7387\u3092\u8abf\u6574<\/h3>\n<ul>\n<li>\u5f53\u30d5\u30a1\u30f3\u30c9\u306f\u5e02\u6cc1\u306b\u5408\u308f\u305b\u3066\u30ad\u30e3\u30c3\u30b7\u30e5\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u8abf\u6574\u3057\u682a\u5f0f\u5e02\u5834\u304c\u4e0b\u843d\u3059\u308b\u5c40\u9762\u3067\u306f\u6700\u592750%\u7a0b\u5ea6\u307e\u3067\u30ad\u30e3\u30c3\u30b7\u30e5\u6bd4\u7387\u3092\u9ad8\u3081\u308b\u3002<\/li>\n<li>\u30b3\u30ed\u30ca\u30b7\u30e7\u30c3\u30af\u304c\u767a\u751f\u3057\u305f2020\u5e742\u6708\uff5e3\u6708\u306b\u304b\u3051\u3066\u30ad\u30e3\u30c3\u30b7\u30e5\u6bd4\u7387\u309230\uff05\u7a0b\u5ea6\u307e\u3067\u9ad8\u3081\u305f<\/li>\n<\/ul>\n<h3>\u4e00\u90e8\u5916\u56fd\u682a\u306b\u3082\u6295\u8cc7<\/h3>\n<ul>\n<li>2020\u5e746\u6708\u306b\u306f\u904b\u7528\u8cc7\u7523\u306e15.8%\u307e\u3067\u5916\u56fd\u682a\u6bd4\u7387\u304c\u4e0a\u6607<\/li>\n<li>\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3068\u5206\u6563\u52b9\u679c\u306e\u5411\u4e0a\u3092\u56f3\u3063\u3066\u3044\u308b<\/li>\n<\/ul>\n<h3>\u30a2\u30ef\u30fc\u30c9\u53d7\u8cde<\/h3>\n<ul>\n<li>\u5b88\u308a\u306a\u304c\u3089\u5897\u3084\u3059\u904b\u7528\u306e\u7d50\u679c\u3001\u30ea\u30b9\u30af\u304c\u4f4e\u304f\u30ea\u30bf\u30fc\u30f3\u304c\u9ad8\u3044\u30d5\u30a1\u30f3\u30c9\u306b\u8d08\u3089\u308c\u308bR&amp;I\u30d5\u30a1\u30f3\u30c9\u5927\u8cde\u3092\u53d7\u8cde\uff082012\u5e74\u301c2015\u5e74\u30012018\u5e74\uff5e2022\u5e74\uff09<\/li>\n<li>\u30c8\u30e0\u30bd\u30f3\u30fb\u30ed\u30a4\u30bf\u30fc\u00a0\u30ea\u30c3\u30d1\u30fc\u30fb\u30d5\u30a1\u30f3\u30c9\u30fb\u30a2\u30ef\u30fc\u30c9\u30fb\u30b8\u30e3\u30d1\u30f3 2017\u30922\u5e74\u9023\u7d9a\u53d7\u8cde<\/li>\n<\/ul>\n<h3>\u9ad8\u3044\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9<\/h3>\n<ul>\n<li>2008\u5e749\u6708\u306e\u8a2d\u5b9a\u6765\u3001TOPIX\u306b\u5bfe\u3057\u5927\u5e45\u306b\u30a2\u30a6\u30c8\u30d1\u30d5\u30a9\u30fc\u30e0<\/li>\n<li>2008\u5e749\u6708\uff5e2022\u5e745\u6708\n<ul>\n<li>TOPIX\uff1a+135.65%<\/li>\n<li>\u3072\u3075\u307f\u6295\u4fe1\uff1a+448.37%<\/li>\n<\/ul>\n<\/li>\n<li>\u305f\u3060\u3057\u3001\u904b\u7528\u8cc7\u7523\u6b8b\u9ad8\u304c\u5897\u52a0\u3057\u305f2018\u5e74\u4ee5\u964d\u306f\u3001TOPIX\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u4e0b\u56de\u308b\u3053\u3068\u3082\u591a\u304f\u306a\u3063\u3066\u3044\u308b<\/li>\n<\/ul>\n<h3>\u65e5\u672c\u682a\u5168\u4f53\u306e\u5e02\u6cc1\u306b\u5f71\u97ff\u3055\u308c\u306b\u304f\u3044\u9298\u67c4\u9078\u5b9a<\/h3>\n<ul>\n<li>\u69cb\u6210\u9298\u67c4\u306f\u5927\u578b\u682a\u3088\u308a\u3082\u6210\u9577\u529b\u304c\u9ad8\u3044\u4e2d\u5c0f\u578b\u682a\u304c\u591a\u304f\u542b\u307e\u308c\u308b<\/li>\n<li>\u65e5\u672c\u682a\u5e02\u5834\u5168\u4f53\u304c\u304c\u4f4e\u8ff7\u3057\u3066\u3044\u308b\u3068\u304d\u3067\u3082\u9298\u67c4\u9078\u629e\u52b9\u679c\u3067\u30d5\u30a1\u30f3\u30c9\u306e\u4e0a\u6607\u304c\u671f\u5f85\u3067\u304d\u308b<\/li>\n<li>\u3053\u308c\u306b\u4e0a\u8a18\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30dd\u30b8\u30b7\u30e7\u30f3\u306e\u8abf\u6574\u3092\u52a0\u3048\u308b\u3053\u3068\u3067\u3069\u306e\u3088\u3046\u306a\u30de\u30fc\u30b1\u30c3\u30c8\u74b0\u5883\u3067\u3082\u5b89\u5b9a\u7684\u306a\u4e0a\u6607\u306b\u306a\u308b\u3053\u3068\u3092\u76ee\u6307\u3059<\/li>\n<\/ul>\n<h2>\u3072\u3075\u307f\u6295\u4fe1\u306e\u30ea\u30b9\u30af\u30fb\u30c7\u30e1\u30ea\u30c3\u30c8<\/h2>\n<h3>\u904b\u7528\u8cc7\u7523\u62e1\u5927\u306b\u3088\u308b\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u60aa\u5316\u61f8\u5ff5<\/h3>\n<ul>\n<li>\u3072\u3075\u307f\u6295\u4fe1\u30fb\u3072\u3075\u307f\u30d7\u30e9\u30b9\u30fb\u3072\u3075\u307f\u5e74\u91d1\u306e3\u30d5\u30a1\u30f3\u30c9\u3092\u5408\u8a08\u3059\u308b\u30682018\u5e74\u306e\u30d4\u30fc\u30af\u6642\u306b\u306f\u904b\u7528\u8cc7\u7523\u6b8b\u9ad8\u304c\u7d048,000\u5104\u5186\u8d85\u307e\u3067\u62e1\u5927\u3057\u305f<\/li>\n<li>\u30a2\u30af\u30c6\u30a3\u30d6\u30d5\u30a1\u30f3\u30c9\u306f\u904b\u7528\u8cc7\u7523\u304c\u62e1\u5927\u3059\u308b\u3068\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u304c\u60aa\u5316\u3059\u308b\u30b1\u30fc\u30b9\u304c\u591a\u3044\u306e\u3067\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3042\u308b<\/li>\n<li>\u3072\u3075\u307f\u306f\u4e00\u6642\u671f\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u304c\u60aa\u5316\u3057\u3066\u3044\u305f\u304c\u30012020\u5e74\u306b\u5fa9\u6d3b\u3057\u305f<\/li>\n<li>TOPIX\u306b\u8ca0\u3051\u305f\u6642\u671f\u306e\u4f8b\uff1a<a href=\"https:\/\/www.finance-lite.com\/entry\/2019\/07\/31\/161315\" target=\"_blank\" rel=\"noopener noreferrer\">\u300c\u3072\u3075\u307f\u6295\u4fe1\u300d\u3082\u6b8b\u9ad8\u5897\u306b\u306f\u52dd\u3066\u305a\u3001\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u60aa\u5316<\/a><\/li>\n<li>\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u304c\u5fa9\u6d3b\u3057\u305f\u6642\u671f\u306e\u4f8b\uff1a<a href=\"https:\/\/finance-lite.com\/hifumifund202005\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u3072\u3075\u307f\u6295\u4fe1\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u304c\u5fa9\u6d3b\/\u76f8\u5909\u308f\u3089\u305a\u85e4\u91ce\u6c0f\u306f\u4e0a\u624b\u3044<\/a><\/li>\n<\/ul>\n<h2>\u6295\u8cc7\u5bfe\u8c61\u304c\u540c\u3058\u6295\u4fe1\uff08\u985e\u4f3c\u30d5\u30a1\u30f3\u30c9\uff09<\/h2>\n<ul>\n<li><strong>\u65e5\u672c\u682a\u53b3\u9078\u30d5\u30a1\u30f3\u30c9\uff08\u5927\u548c\u4f4f\u9280\u6295\u4fe1\uff09<\/strong>\n<ul>\n<li>\u65e5\u672c\u682a\u306e\u901a\u8ca8\u9078\u629e\uff08\u30d6\u30e9\u30b8\u30eb\u30ec\u30a2\u30eb\u3001 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