candycrushcandycrushgame| The total scale of bond ETFs with "Big Mac" products exceeds 100 billion yuan

◎ reporter Zhao Mingchao

Since the beginning of this year, bond-based ETF attention has increased significantly. The latest data show that the total scale of bond-based ETF has broken through 100 billion yuan, and the scale of several bond-based ETF has reached an all-time high. From the point of view of the industry, the future development space of bond-based ETF is still very broad.

Choice data show that as of May 20, the total size of bond-based ETF has reached 1014.Candycrushcandycrushgame.60 billion yuan. From the perspective of capital flow since the beginning of this year, the total net purchase amount of bond-based ETF is about 20 billion yuan. Among them, the net purchase amount of 7-10-year policy financial bonds ETF is 7.554 billion yuan, and the net purchase amount of short-term financial ETF is 6.461 billion yuan. Haifutong Shanghai Securities Investment ETF, Ping an medium and high-grade corporate bond spread factor ETF net purchase amount also exceeded 4 billion yuan.

Capital continues to pour in, a number of "giant" bond-type ETF was born. As of May 20, the scale of Haifutong short-term ETF, Wells Fargo 7-10 policy financial bonds ETF, Ping an medium and high-grade corporate bond spread factor ETF are all above 10 billion yuan. Among them, Haifutong short-term financing ETF scale reached 31.445 billion yuan, is currently the largest bond-based ETF.

From the popular bond ETF established so far this year, institutional investors are important holders. Take Boshi Shanghai Stock Exchange 30-year treasury bond ETF as an example, with an issuance scale of 4.812 billion yuan. According to the listing notice issued by the ETF, as of March 21, the fund shares held by institutional investors accounted for 78.96% of the total fund shares, and the top 10 fund share holders were all institutional investors, including Citic Securities, Guotai Junan Securities and so on.

Or out of optimistic about the future opportunities of bond-based ETF, fund managers are also in a dense layout of bond-based ETF. Choice data show that since March, ICBC Credit Suisse 30-year bond ETF, Yi Fangda 30-year bond ETF, southern Shanghai super-long-term bond ETF have been reported one after another.

Since 2023, the transaction activity of bond-based ETF has increased significantly. According to the White Paper on ETF Investment Trading (2023) issued by the Shenzhen Stock Exchange, the annual turnover of bond ETFs in 2023 reached 4.53 trillion yuan, more thanCandycrushcandycrushgameCross-border ETF accounted for 16.43% of total ETF turnover, up from 7.18% in 2022. From a vertical comparison, the total turnover of bond-based ETF in 2023 increased rapidly from 1.65 trillion yuan in 2022 to 4.53 trillion yuan in 2023, and the average turnover of products also increased to 240 billion yuan from 100 billion yuan in 2022. The average turnover rate increased significantly.

Industry insiders believe that the future bond-based ETF still has a relatively broad space for development. Yang Yewei, an analyst at Guosheng Securities, said that with the interpretation of the bond market, credit debt high coupon assets are compressed, interest rate centers are down, institutional consistency is strengthened, and it is more difficult to make differentiation and obtain excess returns. On the other hand, passive index funds have good diversification, transparent positions, good liquidity, low management fees, low investment threshold and more flexible operation, which can meet the diversified investment needs of investors. Among them, the bond type ETF can carry on the trading, the liquidity performance is outstanding. At the same time, China has a rich variety of bond indexes, and the issuance policy is also in a loose window period, so bond-based ETF has a bright future.