Publicly-funded ETF practice: head sitting on a wide base “monopoly” chaser seeking features
Original title: Public Fundraising ETF Cultivation: The head sits on a wide-base “monopoly” chaser seeking a unique bearing configuration disk. Pang Huawei “Now the development of ETFs is always a matter of time and we must seize the opportunity.
“When interviewed by 21st Century Business Herald reporters, many fund company executives tended to agree on the development trend of the industry.
According to statistics from reporters, as of November 7, 2019, there were 229 ETF products on the market, with a total size of 743.9 billion US dollars.
2019 is a big year for ETF development. The scale, number and target of ETFs are growing rapidly.
An executive of a large fund company told reporters, “ETF, whether it is broad-based or segmented industries, is always the first entrant to prevail, it is difficult for late entrants to catch up with the first entrants, because the operating mechanism of ETFs is very easy.Form a positive cycle.
“So, in 2019, some fund companies are moving towards differentiated innovation and development on the ETF, forming their own characteristics.
“A major feature of ETFs this year has been the rise of industry and thematic ETFs.
“This is what an ETF fund manager of a large fund company points out.
ETF explosion 2019 ETF continued the blowout development of 2018.
As of November 7, 2019, a total of 64 new ETFs have been established this year, and another 21 new ETF funds are being issued.
At this time, there are almost two months before the end of 2019, and the number of newly established ETFs this year has far exceeded the 38 of last year, a record high.
Relevant persons in charge of the supervisory level also pointed out in an interview with this reporter that the development and expansion of ETFs is an important development direction of the current asset management industry.
Looking at the growth of the stock ETF last year alone, by November 7, 2019, excluding the newly established ETFs in 2019, the total size of ETFs was 10391 billion, and on December 31, 2018, the size of ETFs was 362.5 billion.ETF fund size has increased by 187% in 2019.
The newly established ETF in 2019 has a total share of 965 as of November 7, 2019.
6.5 billion, the scale reached 1371.
9.1 billion, a record high.
Looking back at the development of ETFs, ETFs have gone through 16 years since the issuance of the China Securities 50 ETF at the end of 2004.
In the past two years, ETFs have developed at an accelerated rate.
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In terms of the number of ETFs established each year, 9 were established in the 6 years before 2010, and the average number of ETFs established each year was less than two.
Since then, the 8-year period from 2010 to 2017 has entered a relatively rapid development period. The number of ETFs established each year is less than 30. The top three are-29 in 2013, 23 in 2017, and 20 in 2016.Only, a total of 10 more than 5 years each year.
It is obvious that in 2018, 2019 ETFs entered an explosive period.
In 2018, 38 ETFs were established, and ETFs established since 2019 have reached a record 64.
From the perspective of distribution shares, a total of 4,739 have been issued in the 16 years since 2004.
5.9 billion ETFs.
Among them, the share of ETF issuance in 2017, 2018 and 2019 in the last three years is 303.
78 billion copies, 920.
18 billion copies, 1438.
3.7 billion shares, each accounting for 4 of the total share of the ETF.
72%, 19.
41%, 30.
35%.
Simply calculated, the ETFs issued in 2018 and 2019 together accounted for 50% of the total issuance share.
In the last two years of explosive growth-2018, in 2019-the share of ETF issuance increased by 616.
4 billion, 518.
1.9 billion, an increase of 202.
91%, 56.
31%.
Innovation trends Through the great development of ETFs, many innovations have appeared in the newly issued ETFs in 2019. According to the 21st Century Business Herald reporter, some index ETFs that have received little attention before have entered the sight of fund companies, similar to the SmartBeta type of Castrol CSI Ruilian Fundamental 50ETF, tracking 4 QDII funds in the Japanese market, and innovative CSI laborSmart ETFs and more.
”The big feature since this year is the rise of industry-themed ETFs, such as technology-based ETFs, which are growing at a faster rate, mainly because individual investors are more involved in this market, but the GEM ETF is like the originalThe broad base, which focuses on emerging industries, has shrunk considerably this year.
“On November 7, an ETF fund manager at a large fund company said.
Fund companies have also gradually developed their own ETFs.
The above ETF fund manager pointed out, “The development of various fund companies has formed different strategies. Some focus on the development of broad bases. Large companies such as ICBC Credit Suisse and Huaxia Funds have more broad bases, and some have more powerful industries, such as Huabao.Industry-themed ETFs.
“Xiao Xiaonan from the Emerging Bank Fund also pointed out that in the selection of the underlying index, in addition to traditional size indexes (such as Shanghai and Shenzhen 300, CSI 500, CSI 50, etc.), industry indexes (such as securities companies, CSI consumption, etc.),The subject index (such as structural adjustment, Shanghai state-owned enterprises, etc.), strategy index (such as GEM 50) and other target ETF products have also developed rapidly, and the scale has shown a higher growth than the overall ETF.
According to Wind statistics, the size of the industry index ETF has increased by 93 at the end of the third quarter since this year.
03%, the theme index ETF scale increased by 41.
05%, the size of the strategy index ETF increased by 59.
14%, both achieved higher scale growth than the overall ETF.
An executive of another large fund company also told reporters, “In the past, fund homogeneity was very serious, but from last year to this year, especially this year, I felt in the market that the differentiation of the characteristics of the fund company industry is actually getting more and more.The more obvious.
For example, some fund companies have made efforts in ETFs and index categories, especially those companies that did broad-based indexes in the first few years, and now their broad-based indexes are sometimes used by someone as an index type.
“Yang Delong, chief economist of Qianhai Open Source Fund, said:” This year’s ETF has developed well, mainly because some organizations like to configure the market by configuring ETFs, because it is relatively simple to configure ETFs, and it can avoid the risks of individual stocks.Is an investment tool, so many institutions, including insurance, banks, etc. like to match ETFs.
Other large individual investors also like to match ETFs.
“” This year’s increase in ETFs is mainly some mainstream ETFs, such as China Securities 500, Shanghai and Shenzhen 300 and other mainstream ETFs.
For mainstream ETFs, I think we should vigorously develop them. For many fund companies, matching mainstream index ETFs is a better strategy.
“Yang Delong said.
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