With the announcement of the fund's first quarterly report, the national team's crazy sweep of A-shares has also been confirmed: Central Huijin bought A-share ETFs in the first quarter or more than 300 billion yuan. This action not only injected strong incremental funds into the A-share market, but also greatly boosted the confidence of the capital market.
In terms of specific targets, Central Huijin bought a number of broad-based ETFs in the first quarter, including 6 ETFs including ChinaAMC SSE 50 ETF and ChinaAMC CSI 300 ETF, with a total amount of more than 300 billion yuan.
This move shows that the deployment of policy funds in the A-share market is accelerating, bringing strong incremental funds to the A-share market.
In addition to mainstream broad-based ETFs, some funds that track small-cap stock indices have also attracted the attention of Central Huijin. Funds tracking small-cap stock indexes such as ChinaAMC CSI 1000 ETF have also subscribed for large institutional seats, and whether it is done by the "national team" still needs to be announced in the fund's semi-annual report.
At a time when the performance of the A-share market was volatile, the sharp purchase of policy funds such as Central Huijin undoubtedly injected a boost into the market. The new "National Nine Articles" clearly put forward that measures such as vigorously developing equity public funds, establishing a fast approval channel for exchange-traded open-ended index funds (ETFs), and promoting the development of indexed investment are expected to further promote incremental funds to increase the deployment of A-shares.
When A-shares are still in turmoil, as ordinary investors, we must stick to our investment confidence. In particular, funds that hold growth styles have been greatly affected by the recent pullback.
For example, ChinaAMC SSE Science and Technology Innovation Board 100 ETF Connect A (020291) still turned red strongly in the face of today's weak blue-chip sector, showing strong resilience.
As an emerging and important part of China's capital market, the STAR 100 Index is a typical balanced small-cap index with significant investment value:
1. Attributes of scientific and technological innovation: The STAR 100 Index focuses on 100 securities with medium market capitalization and good liquidity in the STAR Market, which usually have high R&D investment and scientific and technological innovation capabilities, and are an important force in promoting China's scientific and technological progress and industrial upgrading.
2. Balanced industry distribution: Compared with the STAR 50 Index, the STAR 100 Index is more diversified and balanced in terms of industry distribution, focusing on hard technology tracks such as semiconductors, power equipment, machinery manufacturing, and medicine, which helps investors capture the growth opportunities of different industries on the STAR Market.
3. Outstanding growth: The constituent stocks of the STAR 100 Index are higher than the average market level of the STAR Market in terms of R&D intensity and revenue growth, showing strong growth. In 2022, the average proportion of R&D investment in operating income of sample companies reached 19%, and the average annual compound growth rate of operating income in the past three years was as high as 38.9%.
4. Market capitalization distribution characteristics: The market capitalization of the STAR 100 Index is mainly concentrated in the small and medium-sized market capitalization range, which makes the index more effective in representing the growth style of the STAR 50 and complements the STAR 50 Index, providing investors with more choices.
5. Diversification of investment tools: With the launch of STAR 100 Index products, such as ETFs, investors can participate in the STAR 100 Index investment in a variety of ways and share the growth dividends brought by technological innovation.
6. Policy support: As a testing ground for China's capital market reform, the STAR Market continues to receive policy support and market attention. The launch of the STAR 100 Index will help guide more medium and long-term capital flows into the STAR Market and support the innovation and development of technology-based SMEs.
7. Attractive valuation: After a period of market correction, the valuation level of the STAR 100 Index is attractive.
8. Liquidity advantage: Products such as the STAR 100 ETF provide good liquidity, so that investors can easily enter and exit the market and grasp investment opportunities.
9 Risk diversification: The STAR 100 Index helps investors diversify the investment risk of a single stock by diversifying investments across multiple industries and companies on the STAR Market.
STAR 100 ETF ChinaAMC is the one with better scale and liquidity among all the current STAR 100 ETF products. It is a better tool for us to share the dividends of technological growth.
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