B[Enrich underlying investment tools, public equity allocation is ready to go] October 15th, the craze for multi-asset allocation of public funds is becoming more and more vigorous. Recently, the China Securities Regulatory Commission publicly solicited opinions on the "Measures for the Operation and Management of Publicly Offered Securities Investment Funds (Draft for Comment)" and supporting rules. Among them, a number of loosening clauses around the scope of fund investment have attracted industry attention, such as the upper limit of the proportion of non-FOF products investing in other funds is planned to be raised from 10% to 30%, and FOF is allowed to invest in ETF feeder funds. In addition, the threshold for establishing FOF is planned to be lowered to 50 million yuan. According to industry insiders, this is a set of loosening terms "tailor-made" for asset allocation products, which will further broaden the strategic space of related products and improve the allocation efficiency of fund portfolios. In the future, public funds will place more emphasis on multi-asset portfolio management capabilities, and FOF and "fixed income +" products that naturally have asset allocation attributes will be an important direction for competition among public funds. (China Securities Journal) B[Stock ETFs have net inflows for 6 consecutive days, attracting a total of 81.7 billion yuan] On October 13, Wind data showed that stock ETFs had net inflows for the 6th consecutive trading day, but the net inflows narrowed month-on-month. Yesterday, the net inflow of stock ETFs in a single day was 4.338 billion yuan. The net inflow in a single day last Friday was 22.782 billion yuan. The cumulative net inflow of stock ETFs since September 28 has increased to 81.735 billion yuan. Specifically, broad-based ETFs have become the main attraction, with net inflows of 3.847 billion yuan yesterday. GEM ETF E Fund, CSI 300 ETF Huatai-PineBridge, and CSI 1000 ETF Southern ranked among the top three in net inflows yesterday, with 617 million yuan, 603 million yuan, and 523 million yuan respectively. In addition, the net inflow of Shanghai Composite Index ETF Wells Fargo yesterday also exceeded 500 million yuan. In addition to broad-based ETFs, theme ETFs such as banking, media, and coal also saw large net inflows. (Reporter Zhou Xiaoya) B[The proportion of individual investors in ETF investment continues to expand, and three types of theme ETFs are popular] October 3rd, the proportion of individual investors in ETF investment continues to expand. According to statistics from the Fund Observation Room, among the 48 newly listed ETFs since September, individual investors accounted for more than 80%, and in 19 of them, individual investors accounted for more than 90%. In terms of investment types, theme and industry ETFs are the most popular products among individual investors. Taking the 48 ETFs listed in September as an example, 37 have a listing share of less than 300 million shares, and there are two products with a listing share of more than 1 billion shares. From the perspective of investment fields, newly listed ETFs are mainly concentrated in the following three parts: first, GEM computing power ETFs; second, science and technology growth theme ETFs such as science and technology chips, science and technology materials, cloud computing, etc.; third, dividends, banks, cash flow and other stable varieties. B[Agency: Gold prices are gradually decoupling from interest rates, and gold ETF holdings have risen to the highest level in seven months] September 23rd, gold usually performs weakly during interest rate hike cycles, but Ole Hansen, head of commodity strategy at Saxo Bank, said that this traditional relationship may be changing. Hansen pointed out that although the ten-year U.S. Treasury yield recently exceeded 5% and reached the highest level in 20 years, gold ETF holdings are still rising, climbing to the highest level in seven months. This suggests that market concerns about U.S. finances are changing the relationship between bond yields and gold prices, with the two becoming increasingly disconnected. He added that historically, yields have been seen as a key indicator of gold's performance because gold and other hard assets such as silver and platinum do not pay interest or dividends, so higher yields can make bonds more attractive relative to holding gold. Traditionally, gold prices have faced downward pressure when real yields rise. B[Passive index bond funds have reached the 2 trillion yuan mark for the first time] September 21st, the trend of passivity in bond investment continues to deepen, and passive index bond funds are accelerating from institutional allocation tools to the public financial horizon. Wind data shows that as of September 18, there were 384 passive index bond funds in the market, with a total scale of 2.06 trillion yuan, reaching the 2 trillion yuan mark for the first time. Among them, the scale of bond ETFs has reached 982.7 billion yuan, approaching the trillion mark, accounting for 19.78% of the total ETF scale. Driven by the continuation of the low interest rate environment, the popularization of passive investment concepts, and the continued acceleration of product innovation, bond index investment is accelerating its integration into residents' wealth management allocation. B[The number of new funds launched in a single week hits a record, and equity products compete to enter the market] On September 4th, new funds were intensively launched, and innovative products were issued rapidly. Data shows that 82 new funds were launched this week (August 31-September 4), setting a new high in the number of funds launched in a single week. Among them, the first batch of 8 GEM computing power infrastructure ETFs will be issued on September 4. According to statistics, as of now, there are 167 funds being issued or about to be issued. From the perspective of new fund types, equity funds have become the main issuer. Specifically, as of September 3, 112 equity funds were being issued or were about to be issued. Among them, there are as many as 84 index funds. (Shanghai Securities News)
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