hypernovamegawaysslot| The scale of bond ETFs exceeded 100 billion. Leading products attracted more than 30 billion yuan

The largest bond-based ETF (traded open index fund) products have reached a higher level. Wind data displayHypernovamegawaysslotAs of May 17, the latest scale of Haifu Tong's short-term financing ETF has exceeded 30 billion yuan, reaching 319 yuan.Hypernovamegawaysslot.49 billion yuan. Haifutong short-term ETF is currently the largest bond-based ETF product in the market.

Overall, there are a total of 20 bond-type ETF in the market, with a total scale of 101.438 billion yuan, an increase of more than 20 billion yuan, or 26.6%, compared with the end of 2023.

The scale of Haifutong short-term financing ETF has greatly increased.

May 17, Haifutong short-term financing ETF scale once again hit a record high, the latest scale reached 31.949 billion yuan. It is reported that Haifutong short-term financing ETF is the first on-site tool product with short-term financing bonds as the main investment target in the market, and the product was established in August 2020. Since the beginning of this year, the scale of the product has increased by more than 7 billion yuan, and the fund share has increased from 228 million at the end of 2023 to the latest 291 million.

Some people in the industry said that under the background of the structural market of A-share equity market in recent years, the superimposed liquidity is loose and the risk-free rate of return is gradually declining. With its unique positioning as a low-volatility short-term liquidity management tool, short-term financial ETF can not only make up for the market demand for low-risk varieties, but also efficiently meet the needs of investors for short-term idle fund management. Favored by more and more investors.

Haifu Fund said that the bond ETF can achieve intra-day turnaround trading on the floor, that is, the bond ETF shares bought on the same day can be sold on the same day, while the bond ETF is available on the same day after the bond is sold in the secondary market. For investors, whether they want to switch to stocks, bonds or other floor products, they can achieve "seamless convergence". At the same time, the bond ETF rate is low, the position is transparent, medium-and long-term holding bond ETF is a better choice for asset allocation.

The scale of bond ETF has exceeded 100 billion.

Wind data show that as of May 17, there were a total of 20 bond-type ETF in the market, an increase of one over the end of last year, with a total scale of 101.438 billion yuan and an increase of more than 20 billion yuan over the end of last year.

According to the index categories tracked by the fund, bond type ETF can be divided into interest rate debt type, credit debt type and convertible debt type. Among them, there are 15 interest rate bonds ETF products, 3 credit bonds ETF products and 2 convertible bonds.

According to the fund manager, at present, there are 5 bond-type ETF products under Haifu Fund, 3 under Boshi Fund and Ping an Fund, 2 under Cathay Pacific Fund and 2 under Penghua Fund, and 1 under Wells Fargo Fund, Hua'an Fund, Huaxia Fund, Pengyang Fund and China Merchants Fund.

In terms of performance, as of May 17, this year, of the above 20 bond ETF, only one newly established is temporarily in a state of negative returns, while the remaining 19 have achieved positive returns. Among them, Pengyang China Bond-30-year bond ETF, Hai Fu Tong Shanghai investment grade convertible bond ETF achieved a return of more than 5%. In addition, Hai Fu Tong Shanghai 10-year local government bond ETF, Boshi CSB convertible bond and convertible bond ETF, rich country China Bond 7-10 year policy financial bond ETF and other products achieved a return of more than 3%.

With regard to the reasons why bond-based ETF is concerned by the market and the yield is growing steadily, Shi Hongjun, general manager of the quantitative Investment Department of Pengyang Fund, believes that there are four reasons: first, its tool attribute is distinct, transparent operation, and is favored by configuration investors; second, with the growth of investment demand of insurance companies, pensions and other types of investors, some long-term and ultra-long-term bond ETF well meet their needs. Third, with the expansion of China's bond market, the improvement of liquidity and the effective control of credit risk, the infrastructure construction and the compilation of bond index system are becoming more and more perfect, and the development and innovation environment of bond ETF has been continuously improved, which has promoted its development. Fourth, with the bull of the bond market, the performance of bond ETF is also good.

There is still huge room for development in the future.

In recent years, the global bond ETF has developed rapidly and has gradually become one of the main participants in the bond market and ETF market. At present, China is the second largest bond market in the world, but compared with mature markets, the development of domestic bond ETF has just begun.

At present, the domestic bond ETF is still in the early stage, the survival scale is small and the investor participation structure is relatively simple, most of them are institutional customized products. Wind data show that at present, bonds held by ETF institutions in the market account for more than 70%, with the top 10 holders dominated by banks, insurance and securities firms.

Yingmi fund research believes that under the bilateral promotion of assets and liabilities, bond-based ETF has become an important tool for institutional investors and even individual investors to participate in bond investment. Compared with direct investment, bond-based ETF has low investment threshold, high investment efficiency, and reduces investment risk through decentralized allocation; compared with direct investment bond-based over-the-counter funds, bond-based ETF has low rates, flexible redemption / trading and high transparency of underlying assets.

Looking forward to the follow-up development, Lu Ruijun, fund manager of the fixed income Investment Department of Boshi Fund, said: first, he hopes to increase the issuance and promotion of cross-market bond ETF products; second, because the current participants in bond ETF are still dominated by insurance, banks, brokerages and other institutional customers, individual investors' understanding and recognition of bond ETF is still low, hoping to improve the convenience of individual investors to invest in bond ETF in the design of the system.