According to the latest data disclosed by the AMAC, as of the end of November, the latest total net value of domestic public offerings reached 2745 trillion yuan, an increase of 711 from the previous month7.5 billion yuan;At the same time, the total share of the public offering reached 2620 trillion copies, ** quantity is 1140,000 pieces. In November, the main force of share growth was still the strong performance of the year's bond base, and this part of the growth was mainly due to the new product - the scale of bond base issuance in November reached 10528.6 billion yuan, a new high in a single month since the beginning of this year, and accounted for eighty percent of the total amount raised in November. The share increase is more obvious QDII**, both the number and share have increased by more than 2%, in addition, with the continuous increase in overseas markets, the net value of QDII** has also increased by 203 in a single month8.6 billion yuan, an increase of 535%。Although the performance of the equity market in November was average, ETFs carried the "banner" of share growth. Some institutions pointed out that the possibility of A-shares bottoming out is increasing, and many funds are actually "willing;Indexes, including ETFs, have always been considered to be "sharp weapons" because of their stable style, low fees, simplicity and transparency, so some low-level funds choose to use ETFs for layout and wait for market reversal opportunities. In November, the scale grew against the trend
Recently, according to the latest data released by the ** industry association, as of the end of November 2023, there are 144 ** management companies in China, including 48 foreign-invested ** management companies (including Sino-foreign joint ventures and wholly foreign-owned enterprises), and 96 domestic ** management companies;There are 12 ** companies or ** asset management subsidiaries and 1 insurance asset management company that have obtained the public offering management qualification. The total net asset value of the public offering ** managed by the above institutions is 2745 trillion yuan.
In October, the major A-share stock indexes all fell to varying degrees, with the Shanghai Composite Index falling nearly 3% and the Shenzhen Composite Index also falling about 2%.43%, however, the total share of the public offering** increased from 26 at the end of October10 trillion copies, up to 26 at the end of November20 trillion copies, an increase of 960 in a single month1.3 billion copies, a month-on-month increase of 037%。Specifically, in November this year, the largest increase in scale was the bond type**, with a monthly increase of 20384.2 billion yuan, and the total size of the debt base reached 496 trillion yuan, this part of the increase is mainly in the new market. In November, bonds** were still the main force in the new market, and the scale of bond-based issuance reached 1,052 in November8.6 billion yuan, a new high in a single month since the beginning of this year, and accounted for eighty percent of the total amount raised in November. The bond base is still hot, and the current "reserve force" is still sufficient. According to wind data, there were 132 new products reported in November, of which 54 were debt-based, accounting for more than 4 percent. Among the newly declared bond-based products, most of them are short- and medium-term holding bond products, and new products such as interest rate bonds and enhanced bonds have also been reported. Some managers believe that some industry insiders believe that the popularity of bond issuance, first of all, stems from the good performance of the bond market this yearSecondly, near the end of the year, the company's frequent product impact scale, the risk is less than the yield and the yield is higher than the currency, the bond base has naturally become the first choice for funds. QDII** has increased significantly
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In November, the increase was more obvious in QDII**, both the number and share of ** had a month-on-month increase of more than 2%, in addition, with the continuous increase in overseas markets, the net value of QDII** also increased by 203 in a single month8.6 billion yuan, an increase of 535%。
Specifically, in November, Huatai Pineapple CSOP SGX Pan-Southeast Asia Technology ETF, Harvest S&P Oil & Gas Exploration & Production Select Industry ETF, E Fund MSCI US 50 ETF and Wells Fargo S&P Oil & Gas Exploration & Production Select Industry ETF were established, including four ETFs with a scale of more than 200 million yuan. It is worth mentioning that although the Hong Kong market is the largest destination for QDII funds, due to the recent continuous decline in Hong Kong stocks, QDII** established in November has not invested in this market**.
According to statistics, in November this year, among the 563 QDIIs with comparable performance in the whole market (all types of shares are calculated separately, the same below), there were 476 **net worth**, 86 **net worth**, and 1 **net value was flat.
On the list of gainers, a total of 67 QDIIs rose by more than 10% (including 10%) in November, among them, Huabao Overseas Technology **A and Huabao Overseas Technology **C under Huabao ** rose by more than 20% respectively. 72%, becoming the champion and runner-up in the QDII ** growth list;GF Global Select**USD, GF Global Select**RMB, respectively. The 90% yield ranks first in the list of QDII** gainers.
3rd and 4th place.
During the year, a number of peripheral indexes, including the Dow, hit record highs, and the Nikkei 225 Index also stood at an intraday high of 33,853 points in late November this year, a new high since 1990.
Although QDII related to Hong Kong stocks led the decline, there are still institutions that are firmly optimistic about the Hong Kong market. Zhongtai International pointed out that the semiconductor cycle leading the global manufacturing cycle has quietly opened, indicating that a new round of global economic expansion is coming, which is conducive to Hong Kong stocks to take advantage of the upward trend. In addition, the Fed's interest rate hike cycle is basically over, the liquidity margin of Hong Kong stocks has improved, corporate earnings have rebounded, and the valuation repair space has opened, and Hong Kong stocks are accumulating more upward momentum.
Luo Jiaming, manager of CEIBS, said that he can expect more from Hong Kong stocks next year. "In terms of investment, we should focus more on the value of the company, which is the sum of the free cash flow over the lifetime of the company to shareholders, than on the short-term performance of the company for a month or two or a quarter or two. ”ETFs carry the banner of ***".
Although the equity market is not optimistic, the number and share of *** still maintain a positive growth of more than 1%, but due to the recession, the net value growth is only 009% slight increase. An investment researcher of a ** company said that the growth of the scale of the stock base mainly comes from the active layout of investors in ** ETFs. From the perspective of share growth, funds favored the Science and Technology Innovation 100 ETF the most in November, of which the share of Science and Technology Innovation 100 ETF increased by 60900 million shares, ranking first in the whole market, and funds still favor Hong Kong stock ETF-related products, especially the two major themes of technology and medicine. ChinaAMC Hang Seng Internet ETF, Huatai Pinebridge Hang Seng Technology ETF, Invesco Great Wall Hong Kong Technology 50 ETF, ChinaAMC Hang Seng Technology Index ETF, and E Fund H ETF increased by 100 in November9.4 billion copies. A large public offering channel in South China told reporters that from the perspective of market style and product characteristics, A-shares have actually entered the third year of the bear market, whether it is from the improvement of economic fundamentals, or the continuous force of policies, including the retrospective deduction of past data, the possibility of A-shares bottoming out is increasing, and many funds are actually "willing;The index, including ETF, has always been regarded as a "sharp weapon" because of its stable style (industry theme type is distinct), low fee rate, simple and transparent, etc., so some low-level layout funds choose to use ETF for layout and wait for the opportunity of market reversal.
"Judging from the trend of industry development, overseas experience has in fact shown that indexed investment is the general trend;In the past few years, under the publicity and popularization of all relevant parties, more and more customers have known and begun to try index investment, and everyone has begun to understand more about the advantages of index investment. ”
Article**: Brokerage China).