Morgan China A500 ETF Closes Early, Raises Over 10 Billion Yuan
The highly anticipated China Securities A500 ETF issuance battle has once again delivered good news.
On September 18th,Morgan Fund announced that the Morgan China Securities A500 ETF concluded its fundraising ahead of schedule,which also means that the fund completed a fundraising target of 2 billion yuan in just 5 trading days.The Morgan China Securities A500 ETF is the second China Securities A500 ETF to announce an early conclusion of fundraising,following the early completion of fundraising by Harvest China Securities A500 ETF.
According to insiders,in addition to the two China Securities A500 ETFs under Harvest and Morgan having taken the lead in completing the 2 billion yuan issuance task,currently,the initial scale of Jing Shun Great Wall China Securities A500 ETF may have exceeded 1.7 billion yuan,and the initial scale of China Securities A500 ETFs under Fu Guo and Huatai-Perry may also have exceeded 1 billion yuan.The fundraising scale of the first batch of 10 China Securities A500 ETFs may have already surpassed the 10 billion yuan mark.
Morgan China Securities A500 ETF Concludes Fundraising Ahead of Schedule
On September 18th,Morgan Fund issued an announcement stating that the Morgan China Securities A500 ETF under its management would conclude fundraising on the same day ahead of schedule.
According to previous announcements,the upper limit of the initial fundraising scale for the fund was set at 2 billion yuan.The latest announcement shows that the fund manager decided to advance the fundraising deadline for the Morgan China Securities A500 ETF to September 18th.Only 5 trading days after the fund began fundraising on September 10th,Wind data indicates that the Morgan China Securities A500 ETF is the first product to conclude fundraising among the China Securities A500 ETFs planned to be listed on the Shanghai Stock Exchange.
On September 13th,Harvest China Securities A500 ETF announced early fundraising and initiated end-of-day proportional allocation,which also means that the Morgan China Securities A500 ETF is the second fund among the first batch of China Securities A500 ETFs to conclude fundraising ahead of schedule.
It is reported that as the only foreign public fund participating in the first batch of issuance,Morgan Asset Management,after obtaining approval,once again gathered global executives to firmly express optimism and stated that they would heavily promote the Morgan "A Series" ETFs.In order to popularize and promote the China Securities A500 Index,Morgan Asset Management organized a product launch conference and online live professional analysis of the index investment value on the first day of issuance; during the issuance period,the retail channel service team conducted nearly 300 training roadshows for securities clients.
In addition,public data shows that Morgan Asset Management is the only company that has set up a mandatory dividend distribution mechanism in both the China Securities A50 ETF and A500 ETF.
Han Xiuyi,the拟任 fund manager of the Morgan China Securities A500 ETF,stated that as a newly compiled broad-based index,the China Securities A500 Index can be considered a broad-based index with a high "new" content,covering more leading companies in various sub-sectors and representatives of emerging industries.In the new wave of the technological revolution,high-quality enterprises representing the development direction of new quality productive forces are expected to bring more vitality to the capital market,allowing investors to better share the fruits of high-quality economic development.The total fundraising scale in the first five working days may exceed ten billion yuan
The issuance battle for the China Securities A500 ETF is still in full swing,with major securities firms showing great enthusiasm and high participation.From the current issuance situation,securities firms such as Guotai Junan,CITIC Securities,
Galaxy Securities,and Huatai Securities are actively promoting and issuing.
According to sources,in addition to Harvest China Securities A500 ETF and Morgan China Securities A500 ETF completing the issuance target of 2 billion yuan,Jing Shun Great Wall's China Securities A500 ETF may have also raised more than 1.7 billion yuan,and the China Securities A500 ETF under the flagship of Fu Guo and Huatai Baorui may have also exceeded 1 billion yuan in the first issuance scale.The other several fund companies under the China Securities A500 ETF also have several hundred million yuan in issuance,and the total fundraising scale of these 10 China Securities A500 ETFs may have exceeded 10 billion yuan.
"With the continuous efforts of major sales channels,the fundraising amount of the first batch of China Securities A500 ETFs is expected to grow further in the next few days,and it is not ruled out that there will be China Securities A500 ETFs that will end the fundraising in advance," said an analysis by a securities salesperson.
Another industry insider also said that the offline stock offering can also bring a certain scale to the China Securities A500 ETF,and with institutional funds gradually entering the market,it is expected to further increase the fundraising scale of the China Securities A500 ETF.
As the first core broad-based index since the new "Nine National Articles," the China Securities A500 Index selects 500 stocks with strong market value representation and industry-leading indicators from various industries,taking into account large market value while evenly covering the core leading assets of various industries in A shares; among comparable core broad-based indices,it has a high content of new quality production capacity and can better reflect the changes in the microstructure of the A-share market during the high-quality development process of China's economy.It is expected to become a unique identifier for the development of China's modern industrial system and also brings diversified choices and new opportunities for investors to layout indexization.
Recently,the China Securities Index Company released the "Characteristics Analysis of the China Securities A500 Index," and Morgan Fund interpreted that the China Securities A500 Index has achieved a dual drive of "core assets" and "new quality production capacity." Through full coverage of industries,it fully depicts the changes in the economic development structure and the transformation and upgrading of industries; it does not only select constituent stocks based on market value,avoiding the omission of sub-industry leaders with development potential.
Identify the investment value of China Securities A500
In fact,many fund company insiders also recognize the current investment value of China Securities A500.
Gong Lili,the拟任 fund manager of Jing Shun Great Wall China Securities A500 ETF,believes that the continuous weak fluctuation of A shares may also have given birth to a good opportunity to layout China Securities A500 ETF.At present,from the perspective of valuation,risk premium,and trading activity,A shares are in a historical bottom area.At the same time,compared with the stock indices of major overseas markets,A-shares have a very prominent valuation advantage.In addition,some indicators show that China's economy is at the bottom area and has structural resilience.Considering that the Federal Reserve's interest rate cut cycle is expected to start in the second half of the year,the global risk appetite will increase,overseas liquidity will improve marginally,and the fiscal policy in the first half of the year was relatively prudent,which has accumulated a large policy space for the second half of the year.At present,investors do not need to be overly pessimistic about A-shares.
Tan Hongxiang,Deputy Director of the Index Investment Department of Huatai-Pine Rich Fund and the prospective fund manager of the CSI A500 ETF fund,believes that in the past two years,China's capital market has experienced a correction process as a whole.The current economy is expected to further recover,and the clearing of market risks may be gradually coming to an end.Looking at both domestic and foreign situations,the strengthening of the Federal Reserve's interest rate cut expectations is expected to promote the global monetary cycle to gradually shift from tightening to easing.A series of deep reform measures in China are also expected to continuously accumulate the driving effect on high-quality development and the transformation and upgrading of traditional industries.New technologies,new industries,and new models are emerging at an accelerated pace,and the pricing ability of funds for growth assets is expected to be restored.In the medium and short term,some low-value blue-chip stocks and industry leaders in sub-industries are expected to become a powerful tool for finding market opportunities in the expected improvement.
"The release and productization of the CSI A500 Index this time are expected to provide a differentiated allocation tool for a wide range of investors to layout the emerging fields of A-shares on the left side,and share the growth dividends of China's new era," said Tan Hongxiang."The relatively balanced distribution of the CSI A500 Index in terms of industry and style is expected to enable it to achieve excess returns over a longer period in the future style evolution.Among them,the leaders of emerging industries such as electronics,pharmaceuticals,and military industry,which are in the process of inventory cycle recovery and the start of the technology cycle,are expected to become the main force of return contribution."