The scale of the first batch of Kechuang 50ETF has increased by 10 billion, and the capacity of ETF has been greatly expanded

 The scale of the first batch of Kechuang 50ETF has increased by 10 billion, and the capacity of ETF has been greatly expanded

The first batch of Kechuang 50ETF has a total scale of over 26 billion

According to wind data, as of November 24, the total scale of the first batch of Kechuang 50ETF has reached 26.179 billion yuan in seven trading days, an increase of 5.116 billion yuan compared with that before listing, and the growth rate of 7-day scale was as high as 24.29%.

Among them, the latest scale of Huaxia Kechuang 50ETF was RMB 9.918 billion, which was 96.91% higher than that before listing, nearly doubling. Based on the average transaction price since listing, the net inflow of capital in the past seven trading days was 4.96 billion yuan. Over the same period, the scale of e-fondas 50 ETF also increased from 5.148 billion yuan to 6.142 billion yuan, and the net purchase scale of funds reached 1.094 billion yuan.

In addition, during the same period, the scale of the remaining two products shrank slightly, with net capital outflow of 200-300 million yuan respectively.

In view of the scale expansion of the first batch of Kechuang 50ETF, a large-scale public equity ETF fund manager in Beijing said that the scale of the first batch of Kechuang 50etfs increased rapidly because of the market scarcity of such products, which were the first batch of indexed products in the science and technology innovation board market. If the basic people want to participate in the investment in the index of science and technology innovation board, they can only trade this investment tool; second, the first batch of products are issued in a single day Third, with reference to the rapid development of the GEM market, the market has a broad space for development, and the long-term investment value of the Kechuang 50 index, which is equipped with leading stocks in the industry, is also recognized by the market.

A science and technology fund manager in South China also analyzed that in the science and technology industry, in the face of the rapid change of technology renewal iteration, the index logic of index or market value screening is very suitable for the change process of technology companies. The first batch of Kechuang 50ETF products have the characteristics of openness, transparency, decentralization and low fee rate. Through the index form, it can provide investors with effective diversification, risk reduction and high cost performance investment tools, which is a better form for investors to share the opportunities of science and technology innovation board.

According to the manager of the science and technology fund, although the overall valuation of the science and technology innovation board is high, the companys profit is not the only indicator to consider the investment value of the science and technology innovation board market. In the early stage of the companys development, the market is more willing to consider the track and market competitiveness. Through the bottom-up industrial research and judgment and the companys quality research, the company closely tracks the upgrading of the science and technology innovation company and obtains the dragon The wealth opportunities brought by the high growth of head companies.

The index based diversified investment and the stock selection idea based on leading companies in the industry are more suitable for non professional investors to participate in the market. The first batch of products tracking the 50 index of the science and technology innovation board are invested in the leading companies with high growth. In the long run, the investment value is expected. The technology fund manager said.

10 billion stock ETFs increased to 17

Market polarization is serious

In the past two years, fund companies have concentrated on the layout of science and technology track, and the number of ten billion funds in Pan Technology ETF is also increasing.

According to the data, as of November 24, the total scale of 277 stock ETFs in the market reached 720.683 billion yuan, and the number of stock ETFs with a volume of 10 billion yuan reached 17, an increase of 3 over the end of last year. Among them, Huaxias chip ETF, 5getf, Cathay Pacific and guolianan funds semiconductor ETF are all new 10 billion funds since 2019.

In addition, the scale of Huaxia Kechuang 50 ETF reached 9.918 billion yuan, and the scale of Huabao technology ETF reached 9.581 billion yuan. The scale of two products invested in Pan science and technology market was also close to 10 billion yuan. Science and technology track has become an important force for the expansion of stock ETF market scale.

Considering that Taikang Hushen 300etf, e-fonda Shenzhen stock 100ETF, e-fund Hushen 300etf and other products also exceed 8 billion yuan, with the future stock market continues to warm, the number of 10 billion stock ETFs may exceed 20.

In response to the polarization of the market, a middle-sized public offering executive in Beijing said that in terms of the product line layout of public offering funds, the industry is increasingly concentrating on leading products, and stock ETFs are no exception. Some companies actively expand the product scale and layout the whole product line; some companies actively reduce the rate to attract funds to buy; some institutions build investment advisory system to increase the application scenarios of products in various aspects, and enhance the market competitiveness of products. At present, some head companies have formed strong competition barriers, which are difficult for latecomers to surpass.

However, the fund manager of the above-mentioned large-scale public equity ETF in Beijing also said that as the products follow the standard index, the liquidity concentration of stock ETFs will definitely occur in the homogenization competition. Those products with large scale, good liquidity, rich trading strategies and preferential rates in the same industry are more likely to become the industry leader, while other products tracking the same index are difficult to challenge the position of head products because of the similar risk return characteristics and no obvious difference in product yield.

The fund manager also disclosed that at present, he learned that some small and medium-sized public offering companies did not intend to lay out stock ETF products. Considering the costs of building index system, providing investment research personnel, and strengthening the liquidity investment of market makers, and considering that the company has not accumulated in the index field, the market brand is not high, and if the fund scale is not large, even if the fund fails to raise, this business will happen The line is likely to be at a loss for many years. Each public offering still needs to make differences and make high-quality products in the investment fields they are good at.

Source: China fund daily Author: Li shuchao, editor in charge: Zhong Qiming_ NF5619