The fundraising period of the first batch of CSI A50 ETFs is nearing the end, and the issuance of 10 products has entered the sprint stage.
On February 28, J.P. Morgan Asset Management officially announced that its CSI A50 ETF ended its fundraising ahead of schedule on the same day. The initial offering scale has exceeded 2 billion yuan, becoming the first batch of 10 CSI A50 ETFs to end the fundraising ahead of schedule.
J.P. Morgan Asset Management said that as the only foreign-funded ** company to participate in the first batch of issuance, J.P. Morgan Asset Management took the lead in making efforts, and after the product was approved for issuance, it joined hands with global executives to collectively issue a strategic determination of "investing in China and going long in China" under the adjustment of A-shares, so as to promote China's "New Beautiful 50" to the world.
Immediately afterwards, Ping An ** also issued an announcement stating that Ping An CSI A50 ETF was closed ahead of schedule, and the total amount of valid subscription applications exceeded the upper limit of the fundraising scale by 2 billion yuan.
Ping An** said that as a new benchmark for China's core assets, the CSI A50 Index has continued to be sought after by the market since its release. This is mainly due to the CSI A50 Index's unique integration of the essence of traditional market capitalization sampling and the concept of industry equilibrium, and the introduction of ESG investment principles for the first time. The index selects 50 industry leaders who not only have strong bargaining power and long-term competitiveness, but also rank among the best in their respective industries by market capitalization.
According to the previous public offering announcements, the above 10 CSI A50 ETFs will be offered from February 19th to March 1st. This also means that, except for J.P. Morgan Asset Management and Ping An**, the issuance of CSI A50 ETF under the rest of the public offering is still in the final competition. Regarding the latest fundraising, a reporter from Beijing Business Daily interviewed some of the above-mentioned public offerings. According to industry insiders, the current situation is considerable, but the scale of the initial offering still needs to be counted. Some public offering practitioners pointed out that although the sales scale of its products has not yet been announced, it is roughly expected to be in the middle of the issuance ranking of 10 CSI A50 ETFs.
Jia Zhi, managing director of Hualin** Asset Management Tribe, believes that after the recent full adjustment of A-shares, it ushered in a better recovery around the Spring Festival**, and under the above background, market confidence has been effectively restored. In particular, the indices represented by the SSE 50 and CSI 300 stabilized ahead of the market, and the issuance of the CSI A50 ETF filled the gap of broad-based ETFs, so it gained active participation in the market.
Looking back, the CSI A50 ETF has made rapid progress from reporting to approval. On January 2, China Securities Index Company released the CSI A50 Index. It is understood that the CSI A50 Index selects the 50 largest market capitalization ** from the leading listed companies in various industries as index samples to reflect the overall performance of the most representative leading listed companies in various industries.
As soon as the index was released, it triggered a number of public offerings to actively report. The first batch of 10 CSI A50 ETFs, including E Fund, Wells Fargo, ICBC Credit Suisse, Huatai Pineberry, Harvest, Yinhua, Huabao, Dacheng, JPMorgan and Ping An, were approved on February 2. On February 19, the first batch of 10 CSI A50 ETFs were launched simultaneously. Now, with the official announcement of the early closing of the two products, it only took 2 months from the release of the CSI A50 Index to the closing of related ETF products.
On the whole, ** companies generally believe that they are currently at the medium and long-term allocation point of the CSI A50 Index. Zhao Xu, the proposed manager of ICBC CSI A50 ETF, said, "Market sentiment has gradually been repaired, and from the perspective of allocation, in the face of systematic allocation opportunities, the core asset advantages of the head are highlighted."
Lin Weibin, General Manager of E Fund** Index Investment Department, also said that the issuance of E Fund CSI A50 ETF and other products will help facilitate the allocation of domestic and foreign long-term funds to A-share core assets, and further play the function of medium and long-term capital allocation of index products and services.
To a certain extent, the constituent stocks of the CSI A50 Index can be used as a new model for the 'beautiful 50' of A-shares. At the same time, after the early adjustment of A-shares, the valuation of leading companies in various industries has been at a historically low level, combined with the possible subsequent improvement in profitability of listed companies, the CSI A50 Index and its constituent stocks are also reflecting a more obvious medium and long-term allocation value. Jiang Junyang, assistant general manager of Huabao ** Index R&D and investment department and proposed ** manager of Huabao CSI A50 ETF, said.
Beijing Business Daily reporter Liu Yuyang Hao Yan.