On October 15, the first batch of 10 CSI A500ETF were officially listed for trading. Among them, the CSI A500ETF products under Huatai Pineapple Fund, Wells Fargo Fund, China Merchants Fund, JPMorgan Asset Management and Taikang Fund were listed on the Shanghai Stock Exchange; CSI A500ETF products under China Southern Fund, Harvest Fund, Guotai Fund, Yinhua Fund and Invesco Great Wall Fund are listed on the Shenzhen Stock Exchange. According to the data, as of the close of trading on October 15, the total turnover of 10 CSI A500ETF has exceeded 10 billion yuan.
According to the data, the first batch of CSI A500ETF tracked the CSI A500 Index, which was officially released on September 23 this year, using the industry balanced sampling method, selecting 500 securities with large market capitalization from various industries as index samples, and the third-level industry leading companies have priority qualifications. In addition, the compilation of the index combines screening conditions such as Stock Connect and ESG to facilitate the allocation of A-share assets by domestic and foreign medium and long-term funds. The CSI A500 Index is fully close to the new blueprint of China's economic development, and is a high-quality target for investors to grasp the two-wheel driven investment opportunities of "core assets" and "new quality productivity".
According to Choice data, as of October 14, the net value of the CSI A500ETF under Huatai Berry Fund and China Southern Fund was 1.0086 yuan and 1.001 yuan respectively; The net unit value of Wells Fargo CSI A500ETF, JPMorgan CSI A500ETF, Harvest CSI A500ETF, Invesco Great Wall CSI A500ETF, Yinhua CSI A500ETF, Cathay CSI A500ETF, China Merchants CSI A500ETF and Taikang CSI A500ETF were 0.9889 yuan, 0.9821 yuan, 0.9758 yuan, 0.9711 yuan, 0.9593 yuan, 0.9536 yuan, 0.9527 yuan, 0.9512 yuan.
As of the close of trading on October 15, the total turnover of 10 CSI A500ETF exceeded 10 billion yuan. Among them, the turnover of Cathay CSI A500ETF was 3.153 billion yuan, and the turnover of CSI A500ETF and Huatai Berry CSI A500ETF exceeded 1 billion yuan.
Previously, a large number of institutional investors have taken advantage of the CSI A500ETF to actively enter the market. According to the listing and trading announcement, securities firms, insurance funds, private equity, foreign capital, etc. have actively subscribed to the first batch of CSI A500ETF, and institutional investors hold a large proportion of CSI A500ETF from Harvest, Huatai Barry, JPMorgan Fund, Taikang, China Merchants Fund, etc.
Looking ahead, Han Xiuyi, manager of JPMorgan CSI A50 ETF and JPMorgan CSI A500ETF, said that as of the end of September, the valuation of the CSI A500 Index was 15 times, which was in a reasonable range. With the economic recovery and corporate earnings expectations warming, coupled with the start of the Fed's interest rate cut cycle and the improvement of the external environment, the A-share repair market is expected to continue. Standing at the new starting point of A-shares, the CSI A50 Index and the CSI A500 Index, as the new representatives of the A-share broad-based market, are expected to continue to attract the attention of investors.
Huatai Berry Fund said that from the perspective of valuation, the current A-share market as a whole has been in the historically low area for a long time, both horizontal and vertical comparison has a strong attractiveness, with the recent implementation of a number of unexpected stimulus measures, market expectations have reversed, and the opening of the interest rate cut cycle in major overseas economies is also expected to attract foreign investment to accelerate the return. Under the multiple favorable conditions, the A-share market is expected to usher in a golden window for allocation, and the large-cap blue chips and industry leaders may be a powerful starting point to grasp this round of structural opportunities.
Gong Lili, fund manager of Invesco Great Wall CSI A500ETF, said that a series of recent monetary and financial policy combinations have exceeded market expectations, highlighting the determination of the policy layer to stabilize the economy and the market and boost the confidence of micro entities. Recently, the market has fluctuated greatly, and there is no obvious main line of growth, and the broad-based index will become a better allocation direction in the next stage.
Source: Shanghai Securities News
Editor: Kobayashi