At the end of the year, the market's highlights were focused on ETFs**. At the moment when the general issuance of equity is cold, ETFs are definitely a bright spot in the downturn. Wind data shows that as of December 8, the total size of ETFs in the domestic market reached 198 trillion, one step away from the 2 trillion mark, bucking the trend to hit a new high.
Among them, the "most beautiful boy" isSTAR 100 ETF ChinaAMCIt took only half a month to go public, and it quickly topped the list of new "gold absorption lists" in the year.
A "bridge" connecting the "new top stream" on-exchange and over-the-counter transactionsChinaAMC SSE STAR Market 100 ETF Connection** (020291 020292) debuts, it is more convenient to participate in the investment of the science and technology innovation board!
"New top stream".
The scale and scale are the first in their class!
The release of the STAR 100 Index during the year was a landmark event for the STAR Market, which improved the matrix of the relevant broad-based indices on the STAR Market. It took only 100 days from the launch of the index to the listing of 7 linked ETF products and the total size of the products crossed the 20 billion mark in one fell swoop (data**: wind, as of 202311.17), which shows the favor of funds for the science and technology innovation board.
Among the many products that track the STAR 100 Index,STAR 100 ETF ChinaAMCThe strong market appeal has been reflected in the initial fundraising stage, and a total of them have been obtained43,996 households, total38.9.5 billion yuanSubscribe and becomeThe index product with the largest number of subscribers and the largest scale tracking the STAR 100 in the initial offering stage。(Data**: Wind, as of 2023.)11.17）
November 16thSTAR 100 ETF ChinaAMCAfter the listing, it has soared, and the turnover continues to lead, becoming a new position for investors to lay out nuggets. As of December 8,Received continuous inflow of funds for 13 consecutive trading days, totaling "gold absorption".26.0.4 billion yuan, an average daily inflow200 million yuan;At the same time, the total size of the product reached:63.400 million yuan, the share reached66.300 millionThe size of the share ranks first in both similar indexesIt shows that many funds are optimistic about its prospects. (Data**: Wind, as of 2023.)12.08）
Funds are "favorite".
What is the charm of Kechuang 100?
In August this year, the second broad-based index of the Science and Technology Innovation Board, the Science and Technology Innovation 100, was released. The STAR 100 and STAR 50 complement each other and form the SSE STAR Market Scale Index Series.
The index is all setSmall and mid-cap, broad-based, growthThe three major elements, coupled with the "factor" of point technology, are highly compatible with the current market.
Fill the gap in the small and medium-cap investment targets of the Science and Technology Innovation Board
It has been two years since the style switch small market dominance in 21 years, and the extreme dominance of this round of small cap has been performed since August this year. The history of the switching between the large and small caps of A-shares shows that when the market style is formed, it is more stable, and from a longer-term perspectiveAt present, we may still be in the long-term advantage of the small cap.
STAR 100 serves as the Science and Technology Innovation BoardThe first and only small- and mid-cap style indexSelect 100 medium-sized and more liquid ** companies other than the Science and Technology Innovation 50 sample as samples, focusing on coverageRising tech stars in small and mid-cap caps**, 20 billion market value below the ** proportion, in line with the current situationThe market capitalization is sinkinginvestment trends. (Data**: Wind, as of 2023.)12.08）
Broad-based capture *** beta gains
Broad-based indices are often used as for the real economy"Barometer".Broad-based ETFs are a good tool to achieve beta yields by seizing timing opportunities.
When the market is bottoming out, the main line is unclear, and investors do not have to worry about the industry theme when choosing a broad-based ETF, nor do they need to worry about anxiety about choosing a track, let alone worry about the "black swan" event.
In the first three quarters of this year, the scale of equity ETFs in the whole market increasedMore than 400 billion yuan, institutional customers mainly take advantage of the large inflow of ETFs in the dojo, and the **attribute is obvious (data**: wind, as of 2023.).09.30）。
By the end of November, the STAR 100 Index had risen by the end of OctoberNearly 8%., leading the broad base.
Source: wind, 202310.23-2023.11.30. The historical performance of the index is not indicative of the future performance of the product. See the end of the article for detailed notes.
Growth style suppression factors tend to improve
In November, the Federal Reserve paused interest rate hikes for the second time, US Treasury yields fell, and an inflection point in overseas liquidity appearedDomestic fundamentals: In the third quarter, the net profit growth rate of all A-listed companies successfully turned from negative to positive, and the bottom profit may have been confirmed.
Both internal and external factors that suppress the growth style tend to improve.
Looking back at the stage of the strength of the Science and Technology Innovation Board in the middle of 2020, 2021 and 2022, the rise of the Science and Technology Innovation 100 far exceeded that of growth indices such as the CSI 500 and CSI 1000It reflects the full momentum in ***.
Data**: Wind, 20201.1-2023.9.21, the base date of the index is 201912.31。The full annual results of the index from 2020 to 2022 were 3028%，31.64%，-31.26%, the historical performance of the index is not indicative of the future performance of the product. See the end of the article for detailed notes.
ETF connection
A "bridge" between on-exchange and over-the-counter transactions
To participate in ETF investment, you need to open an in-line account or **account, and OTC investors who want to participate in the investment can participate indirectly through the ETF connection**.
ETF Feeding** invests the vast majority of assets in index ETFs that are operated by the same manager and track the same underlying index. In general, ETF Connect** invests in the percentage of its target ETFNot less thanNet worth, while also reservedNot less than 5%.Highly liquid assets (e.g., cash, bonds with a maturity date of less than one year, etc.) to cope with investor redemptions.
Due to the same goal, the trend direction and risk-return characteristics are very similar, the ETF** and its corresponding connection** are like a pair of "twins", and we can also see the ETF connection** as a "bridge" for OTC investors to access the market and connect with classic indexed investment tools.
There are several main advantages of ETF connectivity**:
The tracking error is smallThe goal of ETF Feeding** is to closely track the benchmark index, and its portfolio typically replicates the constituent stocks or bonds of the corresponding index. Due to the relative simplicity of its investment strategy, the tracking error is usually small, which helps to improve the performance of the company.
High portfolio transparencyPortfolios and operations are often published on a regular basis, which allows investors to better understand their investment strategy and performance.
Lower overheadsCompared with actively managed**, ETF Connect** has lower management fees, which can reduce investment costs and improve investment efficiency.
Good liquidityETF Connect** is usually listed on an exchange, so investors can buy and sell at any time, and the market is more liquid.
In addition, since the ETF Feeding** investment strategy is to track the index, its return is relatively stable, which is suitable as a regular investment object to reduce the risk caused by market volatility. ETF connection** can be set up via the systemAuto-complete regular investment.
The STAR 100 hit its highest point since the index's release on July 14, 2020, at 2,14677 points, which has been adjusted so farMore than three yearstime;At present, it is already the highest point, the biggest drop in the yearMore than 10%.It is back near all-time lows.
(Data**: Wind, as of 2023.)12.08。Past index performance is not indicative of future performance** of the product. See the end of the article for detailed notes.
After sufficient adjustment, the investment cost performance of Kechuang 100 is highlighted.
The bottom is an area where the bottom can't**. As Howard Marks said:"Don't wait for the market to bottom, the idea of waiting for a bottom is bad in itself, and if the asset goes further in the future, more assets can be in that situation. ”
This may be the moment to fall.
Invest in science and technology, refer to China.
ChinaAMC SSE STAR Market 100 ETF Connection**
Class A 020291 Class C 020292
Blockbuster on sale!Swipe to see the full tips:
The base date of the STAR 100 Index is 201912.31, the full annual performance of the index from 2020 to 2022 is 3028%，31.64%，-31.26%, and the performance since the base day is -3317%, the historical performance of the index is not indicative of the future performance of the ** product. Special Risk Warning: The ** assets of this ** are mainly invested in the Science and Technology Innovation Board, and will be subject to special risks brought about by differences in investment targets, market systems and trading rules, including but not limited to liquidity risk, delisting risk and stock price fluctuation risk.
Risk Warning:1This ** is the connection of the target ETF**, and the target ETF (STAR 100 ETF ChinaAMC) is **type**, so the risk and return of this ** are higher than that of hybrid**, bonds** and money market**, and it is a medium and high-risk variety. The specific risk rating results are subject to the rating results provided by the **Manager and the sales agency. 2.STAR 100 ETF ChinaAMC and Feeding** assets investing in the STAR Market will face unique risks brought about by differences in investment targets, market systems and trading rules under the STAR Market mechanism, including but not limited to the risk of large volatility, liquidity risk, delisting risk of companies listed on the STAR Market. 3.There are unique risks such as connection risk, tracking deviation risk, and risk of deviation from the performance of the target ETF. ETF products and their connections** are indexes**, and investors may face potential risks such as tracking error control not reaching the agreed target, index compilers suspending services, and constituent securities suspending trading. 4.Before investing in the above, investors should carefully read the "Contract", "Prospectus" and "Product Key Facts Statement" and other legal documents, fully understand the risk-return characteristics and product characteristics of the company, and fully consider their own risk tolerance according to their own investment objectives, investment period, investment experience, asset status and other factors, and make rational judgments and prudent investment decisions on the basis of understanding the product situation and sales suitability opinions, and independently assume investment risks. 5.The Manager does not guarantee a certain profit, nor does it guarantee a minimum return. Past performance and its net worth are not indicative of its future performance, and other performance managed by the Manager does not constitute a guarantee of performance. 6.The manager reminds investors of the principle of "buyer's responsibility" in investment, and after investors make investment decisions, investors are responsible for the investment risks caused by fluctuations in operating conditions, share listing and trading, and changes in net value. 7.The registration of ** by the China Securities Regulatory Commission does not indicate that it has made substantive judgments or guarantees on the investment value, market prospects and returns of **, nor does it indicate that there is no risk in investing in **. 8.The above products are issued and managed by Huaxia**, and the agency does not assume the responsibility for the investment, redemption and risk management of the products. 9.The views in this material are for reference only and do not constitute any substantive advice or commitment to investors, nor do they serve as any legal documents. 10.Investors should fully understand the difference between regular fixed investment and lump sum deposit and withdrawal. Regular investment is a simple and easy way to guide investors to make long-term investments and average investment costs. However, regular investment does not avoid the inherent risks of investment, does not guarantee that investors will obtain returns, and is not an equivalent financial management method to replace savings. The market is risky, and you should be cautious when entering the market.