According to the approval of China Securities Regulatory Commission, fund companies should carry out fundraising activities within 6 months after approval. It can be predicted that a new round of publicity competition, which has been prepared for a long time by the four major fund companies, is about to begin.
Number of ETF products issued: ICBC Credit Suisse &; Gt e fund &; Huaxia Huatai Hotel Bai Rui
Wind's data shows that the assets of the four companies competing for launch rights are all at the level of 100 billion yuan, which can be described as the best among the best. All four companies have strong experience in issuing ETF products, among which ICBC Credit Suisse has the largest number of ETF products, reaching 76, E Fund 58, Huaxia 27 and Huatai Bairui 16.
In terms of ETF products, four companies, including Huaxia, E Fund, Huatai Bairui and ICBC Credit Suisse, issued broad-based indices such as CSI 500, CSI 300, SSE 50, GEM and Hang Seng Index.
ETF product scale: Huaxia &; Gt e fund &; Gt Huatai &; Gt Industrial and Commercial Bank of China Credit Suisse Bank
At present, it is generally believed in the market that the larger the scale of ETF products, the better the liquidity. But in fact, this statement is only true to a certain extent. The liquidity of ETF is manifested in three aspects: the liquidity of the primary market caused by the purchase and redemption mechanism contained in ETF, the trading volume of ETF in the secondary market and the trading volume of tracking the underlying assets.
"ETF's arbitrage mechanism ensures that its trading price will not deviate too much from the net value. But the premise of doing this is that ETF has good liquidity in the secondary market, otherwise it can't buy and sell in large quantities. Some ETFs have little or no trading volume in a day, and this arbitrage mechanism is invalid. Selling or buying a small share can make these illiquid ETFs skyrocket and plummet, and the price has a large discount or premium relative to the net value. " Some industry analysts said.
Judging from the scale and liquidity of previous ETF products, the latest fund share of Huaxia CSI 5G communication theme ETF is 1745438+0 billion yuan, and the latest net asset value is 25.624 billion yuan, ranking first among Huaxia ETF products.
In terms of broad-based ETFs, the latest fund shares of E Fund Hang Seng H-share ETF, Growth Enterprise Market ETF and China Securities ETF all remained above 6 billion, and the latest fund share of Huatai Bairui CSI 300 reached 7.335 billion yuan, which can be described as sufficient liquidity.
Tracking effect of ETF products: E Fund &; Gt ICBC &; Huaxia Huatai Hotel Bai Rui
At present, the investment strategy of most ETFs in China is to copy the tracking index, and the investment goal is to closely track the target index to minimize the tracking deviation and tracking error. However, in ETFs tracking the same index, there are still some differences in tracking errors between ETFs due to a series of expenses and costs in the construction and operation of ETFs and human factors.
Generally speaking, the tracking error of ETF is small, which usually means that the turnover rate of the underlying assets is low, thus reducing the transaction cost. The more frequent the transaction, the more important the short-term tracking error is. As a popular ETF competing on the same stage, the tracking error of past products is one of the important indicators to predict future performance.
Wind data shows that in the past year, the Shanghai and Shenzhen 300 have increased by 26.46%. The four Shanghai and Shenzhen 300ETF all achieved positive returns that exceeded their performance targets. Among them, E Fund CSI 300ETF performed best.
ETF rate: e fund &; Gt ICBC &; Gt Huaxia Bai Rui Huatai
Generally speaking, the transaction cost of ETF is low, and the transaction cost is mainly brokerage commission. As the market-making mechanism in China has not been fully implemented, the bid-ask spread can be ignored.
In terms of management fee, E Fund leads with 0. 15% management fee and 0.05% custody fee. ICBC ranked second with a rate of 0.45%.
Related Q&A: How to Buy the Science and Technology Innovation 50 Index Fund At present, there are four applications for science and technology innovation board 50ETF products, all of which have been accepted, and there is basically no problem in passing the examination and approval. Recruitment will only begin after the process is completed. Subscribe when raising funds, or wait for ants to go public before investing and buying. Actually, you can, mainly depending on your own preferences. It is also good to enjoy the increase after buying a bull market. I don't want to catch this bus, but I am patient. I can wait until the bull market is over, but it seems to take a lot of patience. Then why should we buy Kechuang 50ETF? Is it really that good? First of all, we must know that not everyone can open a science and technology innovation board. The conditions for opening a science and technology innovation board are: 1, securities account or fund account for more than 20 consecutive trading days, and the average daily assets are not less than 500,000 yuan (note that it is average daily! 2. investors who have been engaged in securities trading for more than 2 years. 3. Risk assessment needs more active investors. Do you think that every condition can screen out a large number of people? The risks are also great. First of all, Kechuang 50 is a very unstable super-love rat index. Can you withstand such a big fluctuation? The data will only say that "the Science and Technology 50 Index has increased by nearly 40% during the year", and it will not tell you that the Science and Technology 50 has skyrocketed and plummeted, and the decline is unambiguous. Since mid-July, the index has fallen by nearly 20% ... Second, if you subscribe for Kechuang 50ETF now, there will be a closed opening period of 1-3 months, which will make people very passive. As I said just now, it may be more appropriate to participate in Kechuang 50 with a short-term trading mentality, but during the closed and open period, no one can trade. If Kechuang 50 falls for a month in a row, there is no way out ... It is reported that "technological innovation is the only way for China to transform and upgrade, strategic emerging industries are the battleground for industrial upgrading, and the capital market supports technological innovation. science and technology innovation board's long-term investment logic is clear, and the Kechuang 50 index has good long-term investment value." I have two tips for the above points: first, don't speculate on the short term with long-term logic, you will die miserably; The second is to talk about the growth space without looking at the valuation, that is, to play tricks on cows ... In short, I personally won't subscribe for Kechuang 50ETF today ... If you are very optimistic about Kechuang 50, you are confident that Kechuang 50 will definitely rise in the next 1-3 months, so you can consider participating in the subscription; If you are not as sure as I am, you should be cautious ... By the way, let's see what happened after the release of GEM 50ETF, the brother of Kechuang 50ETF ... GEM 50ETF was established on June 30, 20 16, and was officially listed and traded on July 22, 20 16 one month after its opening. After listing, it fell all the way, for more than two years, and it fell directly. ...