Point blue word attention, do not get lost~
Source: Brokerage China
As a key part of the development of artificial intelligence, computing power has entered the sight of ETF layouters.
Recently, 8 institutions, namely China Universal Fund, Cathay Fund, Huaxia Fund, Bosera Fund, Huatai Berry Fund, Wells Fargo Fund, Southern Fund and GF Fund, have applied for the CSI Computing Power Infrastructure Theme ETF with computing power as the main investment direction.
Statistics show that since the beginning of this year, as AI-related concepts have exploded in the capital market, passive products focusing on upstream and downstream investment opportunities in the industrial chain are accelerating their entry. At the same time, active fund managers are also actively increasing their positions in their portfolios to seize the opportunity of industrial development. For investors, passive thematic products have been declared one after another, active products have actively increased their positions, and the investable channels of the artificial intelligence industry chain are constantly expanding.
8 institutions filed for hashrate ETFs
On May 23, a total of 8 public offerings, including China Universal Fund, Cathay Fund, Huaxia Fund, Bosera Fund, Huatai Berry Fund, Wells Fargo Fund, Southern Fund and GF Fund, applied for CSI Computing Power Infrastructure Theme ETF.
The CSI Hash Power Infrastructure Thematic Index was released in July 2022, and 50 securities of listed companies whose business involves data center construction, operation and related hardware equipment manufacturing were selected as the index sample. The weighted stocks of the index include ZTE, Unigroup, Zhongji Xuchuang, Zhongtian Technology, Xinyisheng, Hengtong Optoelectronics, Netsu Technology, Fiberhome, Tianfu Communication, Yihualu and so on. In terms of industry distribution, information technology accounted for 57.4%.
As of May 24, the yield of the CSI Hashing Power Infrastructure Thematic Index was 14.88% in the past month and 46.77% in the past year. In comparison, the CSI 300 Index yielded -5.18% in the past month and -3.33% in the past year.
Coincidentally, on April 14, E Fund filed for the National Securities Computing Power Infrastructure Theme ETF. The National Securities Hash Power Infrastructure Thematic Index tracked by the ETF was released in 2009 with a one-month yield of -1.55% and a near-one-year yield of 13.16%.
With the official landing of artificial intelligence dialogue applications on the C-end, the concept of "computing power" has attracted more and more attention from investors.
Previously, Gao Zhe, ETF fund manager of Quam Fund, said in an exclusive interview with brokerage China reporters that the human brain is a collection of trillion-level neurons, and artificial intelligence must greatly improve computing power if it wants to achieve similar effects, even if it can be achieved in technology, the price is extremely high. At present, artificial intelligence has only made breakthroughs in simple text interaction, which is also limited by computing power to some extent. China Post Securities Research Institute also pointed out that the development of artificial intelligence may set off a new wave of industrial revolution, and the rise of generative artificial intelligence with independent decision-making capabilities requires the ability to learn trillions of parameters and database computing power.
The huge demand of the industry has created a better investment space for related targets. Lao Jienan, fund manager of China Universal Fund, said that for industries and stocks that benefit from the development of artificial intelligence or are expected to develop, in the current context, the benefits of companies related to computing power are relatively clear, and the portfolio has also carried out certain participation and layout. Geng Jiazhou, fund manager of Wanjia Fund, also said that it will dynamically adjust between the computing power line based on communication and electronics and the application line based on computers and media, and is relatively more optimistic about the computing power line with high win rate.
The institution actively lays out the upstream and downstream of the artificial intelligence industry chain
In addition to the clustered declaration of computing power ETFs, since the beginning of this year, institutions have been very active in the overall layout of artificial intelligence and related semiconductors, chips and other sectors.
As far as the situation of passive index funds is concerned, on May 19, Huaxia Fund filed for Huaxia CSI All Index Information Technology ETF; On April 7, Wells Fargo Fund filed for the Wells Fargo CSI Artificial Intelligence Theme ETF; On March 31, Penghua Fund declared the Penghua CSI Artificial Intelligence 50 ETF; On March 29, Tibet Dongcai Fund declared Tibet Dongcai CSI Chip Industry ETF; On March 28, GF Fund applied for GF CSI Cloud Computing and Big Data Theme ETF.
It is worth noting that the indices tracked by some of the declared ETFs mentioned above already have relatively mature products and have achieved good returns this year.
Taking the CSI All Index Information Technology Index as an example, GF Fund issued the GF CSI All Index Information Technology ETF in 2015, which is managed by Foward Ming and has a latest size of 2.387 billion yuan as of May 25. So far this year, the product has yielded 12.6%, well above the average of 0.74% for passive index funds.
Coincidentally, the CSI chip industry index has also received attention and layout from institutions. Wells Fargo Fund issued the Wells Fargo CSI Chip Industry ETF in 2021, which is managed by Zhang Shengxian and has a latest size of 1.142 billion yuan as of May 25. This year, the product has a yield of 13.52%, ranking high in its class.
In addition to the layout of passive funds, there are also many active funds that have increased their positions in related sectors when the market comes.
For example, Mo Haibo of Wanjia Fund said in a quarterly report that he adjusted his position in products in the first quarter, increased the structural proportion of the TMT industry, reduced the proportion of real estate and military industry, and currently mainly holds TMT, agriculture, forestry, animal husbandry and fishery, and military industry. As for the reasons for the TMT adjustment, he said that it is mainly based on optimism about the digital economy in the next two years. He believes that with the aging of the population and the transformation of the economic development model, data has become a new factor of production, and the core of high-quality development lies in the improvement of total factor productivity. 2023 and 2024 are the first years of AI+, AI has a good industrial logic, through information technology to empower traditional industries in an all-round way, can comprehensively improve efficiency from the production and service side.
The housewarming of Industrial Securities Global Fund also said that in the first quarter, the fund she managed made structural adjustments and increased the relevant allocation of the artificial intelligence industry chain, in order to share the industrial dividends of scientific and technological development. She believes that as the latest development of artificial intelligence technology, related GPT tools can be positively expected to improve production efficiency, which is expected to become an important driver for global economic development and a progressive achievement of epochal significance.
Responsible editor: Wan Jianyi
Proofreader: Zhu Tianting
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