Reporters of our newspaper (chinatimes.net.cn) Qiu Li and Chen Feng reported in Beijing that as A-shares fluctuated, positive signals came from the fund issuance market. On September 10, the first batch of CSI A500 ETFs was launched, with a fundraising target of up to 21 billion

As stocks fluctuated, positive signals came from the fund issuance market. On September 10, the first batch of CSI A500 ETFs was launched, with a fundraising target of up to 21 billion yuan. This also means that before the CSI A500 Index has been released, related theme ETFs are ready to go.

Looking forward to the market outlook, Han Xiuyi, the proposed fund manager of Morgan CSI a500etf, told a reporter from China Times that with the domestic economic recovery coupled with the guidance of the new "National Nine" policies, industry leading companies represented by the CSI A500 Index constituent stocks are expected to continue Benefit. In the economic recovery stage, companies are in an upward profit cycle, and the head effect may be sustainable. Leading listed companies are expected to increase their market share, have better profit performance, and are expected to bring better returns to investors.

public offering to seize the broad-based ETF market

a-share broad-based ETF has added a "newcomer". On September 10, the first batch of 10 CSI a500 etfs were launched at the same time, including 10 fund companies including Harvest Fund, Wells Fargo Fund, China Merchants Fund, Southern Asset Management, Cathay Fund, Yinhua Fund, Morgan Asset Management, Invesco Great Wall Fund, etc. "Took the lead" for the first time. What is worth mentioning about

is that it only took one day from submission to approval for this batch of products, and they were put on sale collectively the next week, which can be called a lightning approval. In addition, the first batch of CSI A500ETF adopts a low-rate model with a management rate of 0.15% and a custody rate of 0.05%, which is the lowest level in the industry. As the issuance war of

officially begins, whoever closes the fundraiser in advance and who will reach the maximum amount has attracted much attention from the market. From the perspective of fundraising scale, except for Taikang CSI A500ETF, which has set a fundraising cap of 3 billion yuan, the other 9 CSI a500etfs have a fundraising cap of 2 billion yuan, which means that if the fundraising and position building are successfully completed, it is expected to be a market Bringing nearly 21 billion yuan in incremental funds.

According to industry insiders, the centralized issuance of CSI A500ETF is expected to ignite the ETF market in the second half of this year, bring more "live water" to A-shares, and further strengthen the power of buyers.

Cathay Fund told a reporter from the China Times that the CSI A500 Index component stock industry has achieved full coverage, and listed companies in all representative industries of the A-share market have been fully included. The weighted industry distribution is more consistent with the overall A-share market and is representative. It is stronger and can further reflect changes in capital market structure and industrial transformation and upgrading.

is expected to become a new benchmark for A-shares

As a core broad-based index for A-shares, the launch of the CSI A500 Index aims to further enrich market representation tools and investment targets, and is hailed by the industry as the Chinese version of the "S&P 500 Index".

Huatai-PineBridge Fund pointed out that the CSI A500 Index tracks the 500 securities with the largest market capitalization in various industries, and the market capitalization accounts for half of the A-shares.

Han Xiuyi told a reporter from China Times that compared with other mainstream broad-based indexes, the CSI A500 Index focuses on investment opportunities in the high-quality development stage of China’s economy and widely covers companies with growth potential, including 92 CSI III A leading company in the industry with both ESG and interconnection features, it is expected to become a new benchmark for China's economy and A-shares.

"The release of the CSI A500 Index comes at the right time. With the release of the CSI A500 Index and the listing of related ETF products, it will bring new vitality to the A-share market and is also expected to bring a more balanced allocation to investors. Market products. "Invesco Great Wall Fund believes that the index is compiled based on screening conditions such as interconnection and esg to attract more domestic and foreign medium and long-term funds to allocate A-share assets, and is expected to become an important reference benchmark for tracking the A-share market in the future.

Su Huaqing, fund manager of the Quantitative Investment Department of Wells Fargo Fund, said that compared with the traditional broad-based index, the selection of the CSI A500 Index does not simply select the 500 companies with the largest market capitalization, but selects the largest companies by industry until 500 companies are satisfied. . At the same time, by selecting companies by industry, the weight of new economic industries such as high-end manufacturing, technology and other industries is increased. Compared with the traditional market value-weighted index, it can better reflect the direction of economic transformation.

Many market participants believe that the valuation of the A-share market is at a historically low level, and the issuance of CSI A500etf comes at the right time, providing investors with new options for arranging the core assets of A-shares.

Looking forward to the market outlook, Han Xiuyi believes that after three years of correction in the A-share market, core assets may have reached a rare opportunity for allocation. The domestic turning point is the recovery of the economy and the recovery of corporate profits. As the fundamentals gradually improve, the trend is for prices to return to value. At the same time, a major turning point overseas is the expectation of the end of the Fed's interest rate hike cycle. With the relief of overseas liquidity pressure and the global attractiveness of A-share valuations, it is very promising to see overseas funds increase their investment in the core assets of A-shares. Great configuration.

Investment Fund stated that the current A-shares may still be in a relatively high cost-effective allocation range. With the implementation of the interim report, the continued improvement of the micro-trading structure, and the overlay of external signals, the market risk appetite is expected to increase in the fourth quarter, and the market style may be expected to benefit.