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ETF competition enters the segmentation field

April 15, 2019 05:16
source: China Fund News
edit:Eastern Fortune Network

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[ETF competition enters the segmentation field. A number of public placement strategy index funds] became the fastest year for ETF development in 2018. The growth of stock ETFs and new ETFs surpassed previous years. In 2019, the development of ETFs is still heating up. Fund companies have strengthened the layout of ETFs. Different from the past, ETFs have entered the segmentation field, and companies are strengthening the layout of the strategy index. (China Fund News)

Become a 2018ETFIn the fastest-growing year, the growth of stock ETFs and new ETFs have surpassed previous years. The development of ETFs in 2019 is still heating up.fund companyDifferent ways to strengthen the layout of ETFs, unlike the past, ETF competition has entered the segmentation field, and companies are strengthening the layout of the strategy index. Since the beginning of this year, there have been few broad-based ETFs established.fundThe company declares, issues and establishes a strategic index fund, since April,Harvest Fund,InvescoGreat Wall FundCompanies such as Dongzheng Asset Management have reported the Strategy Index Fund.

Strategic index funds are relatively small compared to highly competitive broad-based ETFs. An index fund manager told reporters that from the current market acceptance, the broad-based index is undoubtedly the most accepted ETF, and some industry, style ETFs and strategic ETFs are still relatively limited.

A large public fund index fund manager in Beijing said that the competition for strategic index funds is less intense than that of broad base. The existing index is mainly based on industry and style, and is weighted by the market. The compilation method of the strategy index is a bit different.

According toHuatai SecuritiesResearch, strategy index ETF generally strictly tracks a strategy index. The key points of the traditional index are market value weighting and unilateral long. The strategy index reflects subjective initiative, which is very different from the passive tracking of a traditional index. The purpose of the strategy index is to obtain excess returns relative to the parent index. According to different strategies, it is possible to formulate a strategy index with a completely different style, which provides more choice for index investors. Therefore, the advantages of the strategy index ETF are mainly reflected in four aspects: first, the stock selection strategy is clear; second, the high-fitting index, eliminating the impact of timing; third, the strategy index ETF can use physical purchase or cash to replace the purchase, the transaction efficiency is higher Fourth, the transaction cost is lower.

Under the market structure of broad base and relatively weak strategic index, many mainstream ETFs, especially wide-based ETFs, have been enthusiastically sought after by multi-channel funds including institutions and individuals. However, because the Strategy Index ETF can be customized according to customer needs, it is also increasingly popular in the market. The data shows that as of April 12, the ETF with the highest circulation share on the day was two strategic index ETFs, namely, the Boss Central Enterprise Structure Adjustment ETF and the Huaxia Central Enterprise Structure Adjustment ETF. The on-market circulation shares were 21.116 billion shares and 15.852 billion yuan respectively. Share, ranked third in ChinaSSE 50The ETF's intranet circulation share was 15.332 billion.

(Article source: China Fund News)

                                (Editor: DF387)


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