Four Science And Technology Innovation 50 Linked Funds Newly Issued Sci Tech Innovation Board Index Investment Mode Opened

On February 24, the first batch of 4 Kechuang 50ETF linked funds came! It includes four funds of ICBC Credit Suisse fund, e fund, Huaxia Fund and Huatai berui fund.

It means that investors who don't have stock accounts can also invest in the board. "If you have a stock account, you can buy Kechuang 50ETF, and if you don't, you can buy Kechuang 50ETF feeder fund." Industry insiders said.

After the market closed on the same day, a person with sales channels said: "today, the four companies' Kechuang 50ETF feeder funds have not been sold out, and the estimated total sales volume is about 6 billion."

In contrast, on September 22, 2020, five months ago, the first batch of four Kechuang 50ETF products were released on the first day, which attracted nearly 100 billion yuan a day, and finally launched the proportional distribution.

In contrast, the total amount of subscription of the four Kechuang 50ETF feeder funds on the first day was less than 10% of that of the four Kechuang 50etfs.

Market participants are not surprised. An industry insider said that, after all, the A-share market correction after the year of the ox has led to a marginal decline in the overall fund sales heat, and the overall performance of the Kechuang 50 Index in the past month has been low, and the relevant funds have limited appeal to investors.

In addition, the Kechuang 50ETF issued last year was purchased by customers with stock accounts, while the linked funds of Kechuang 50ETF now issued are generally purchased by customers without stock accounts. There are also differences between the two customers.

On February 24, the main market indexes of Shenzhen and Shanghai fell sharply, of which Shanghai Composite Index fell 1.99%, Shenzhen composite index fell 2.44%, gem index fell 3.37%, and Kechuang 50 fell 1.79%.

For the Kechuang 50ETF feeder fund, the key is how much the next investment value of the science and technology innovation board, whether the value is worth layout, and how to invest?

Many fund industry insiders interviewed by 21st century economic report believe that although the issuance is not hot, it is a good time to invest in Kechuang 50ETF feeder fund.

Subscription is not warm

On February 24, the issuance of four Kechuang 50ETF feeder funds did not reproduce the hot scene of Kechuang 50ETF five months ago.

According to the issuance announcement, the four Kechuang 50ETF feeder funds issued this time are linked funds of the corresponding four science and technology innovation board 50etfs issued on September 22, 2020. The performance comparison benchmark is the return rate of Shanghai Science and technology innovation board 50 component index × 95% + demand deposit interest rate (after tax) × 5%. It mainly realizes the close tracking of the performance comparison benchmark by investing in the corresponding Kechuang 50ETF, and pursues the tracking deviation Degree and tracking error minimization.

"It's not sold out in a day like Kechuang 50ETF, which was issued in September last year. Today, several fund companies have not sold out." One person from the sales channel said.

Another sales channel said: "the issue is relatively smooth, not too hot. Our publicity also encourages investors to make appropriate allocation according to their individual risk tolerance, and to participate in the long-term layout or selection of fixed investment mode. "

Industry insiders believe that the sales of four Kechuang 50ETF feeder funds are related to the performance and market conditions of Kechuang 50ETF.

In fact, Kechuang 50ETF, which was sold hot last year, has not achieved satisfactory results since its establishment. Wind data shows that since the listing of the four Kechuang 50ETF funds issued in September last year, the return has been negative, about - 3%, and the recent month (January 24 to February 24) has even dropped as much as 8%.

Wind data shows that the latest scale of Kechuang 50ETF of Huaxia, e-fonda, Huatai berui and ICBC Credit Suisse are respectively 12.458 billion yuan, 6.518 billion yuan, 4.984 billion yuan and 4.921 billion yuan respectively.

Industry insiders believe that the falling market of Kechuang 50ETF makes it not attractive to investors at present.

However, the situation may have changed recently.

After the beginning of the year of the ox, A-share adjustment trend. On February 24, when the Kechuang 50ETF feeder fund was put on sale, the market made a deep correction on that day. The Shanghai Composite Index fell 1.99%, the Shanghai Shenzhen 300 index fell 2.55%, the gem index fell 3.37%, and the Kechuang 50 index fell 1.79%.

"After the Spring Festival, in the case of poor market performance, the Kechuang 50 index has a relatively small decline. Today, the Kechuang 50 index is down 1.79%, which is better than the average market performance." On February 24, Zhao Xu, the proposed fund manager of ICBC Credit Suisse technology innovation ETF feeder fund, said.

"When the market performance is not good, we can see the investment value of high-quality track. The Kechuang 50 index is the core asset representative of Kechuang board. We are still optimistic about its future investment value," Zhao said

Is it a good time to put in?

For investors, what matters is the investment value of Kechuang 50, and is it worth the layout? How to invest?

Huatai Bairui Fund believes that the Kechuang 50 Index tracked by the target ETF consists of 50 stocks with large market value and good liquidity in the science and technology innovation board. As the facade of the science and technology innovation board, the constituent stocks of the science and technology innovation 50 index have the "three high" attribute of "high-end industry, high R & D investment and high growth potential", and have high long-term investment value.

E fund said that looking forward to the future, the sci tech innovation board 50 index has begun to have a long bull effect on both sides of supply and demand. With the continuous landing of hard core technology innovation companies, the science and technology innovation board 50 index will continue to join high-quality enterprises; on the other hand, with the approval of relevant supporting funds, more medium and long-term incremental funds will gradually enter the market, and a benign and beneficial supply and demand pattern will be presented in a long time. At the same time, due to the strong support of the state for science and technology innovation industry and the strong demand for market upgrading iteration, its future growth space is larger.

However, e fund also pointed out that for ordinary investors, there are three barriers to participate in the investment in the science and Technology Innovation Board:

The first is the high threshold of account opening, which requires investors to have no less than 500000 stock assets and no less than 2 years of trading experience; the second is that the stock selection threshold is high, and the scientific and technological innovation board is all science and technology innovation enterprises, and the knowledge structure and investment experience of ordinary investors are difficult to select truly high-quality enterprises; the third is that the risk control threshold is high, and there is no limit board in the first five trading days of the science and technology innovation board, and then the rise and fall rate also reaches 20%, and the market value fluctuates Large, and technological innovation enterprises are light assets, difficult to maintain value, once the selected company deviates from the track, there is a risk of explosion.

Kechuang 50ETF feeder fund is considered to be the ideal choice for investment in the science and technology innovation board, which can let investors step over three barriers.

Huaxia Fund pointed out that looking forward to the future, the theme of science and technology is still an important investment main line in 2021, and the era of core technology as king is imminent, and technology stocks have long-term investment value.

In the medium and long term, the allocation of public funds to the science and technology innovation board is a trend behavior, and the number and scale of funds participating in the investment of science and technology innovation board has increased significantly.

On the one hand, since the opening of the science and technology innovation board in the third quarter of 2019, the stock market value of active equity fund positions in the science and technology innovation board has increased from 905 million yuan in the third quarter of 2019 to 55.340 billion yuan in the fourth quarter of 2020, with a month on month growth rate of 52.5%, almost the same as that of the third quarter (62.3%). At the same time, the number of funds holding positions on the science and technology innovation board also increased from 48 in 2019q3 By 2020q4, the number of funds that choose to allocate the science and technology innovation board has increased to more than 10 times, and more and more active equity funds have chosen to participate in the investment of science and technology innovation board.

"Driven by China's science and technology cycle, the science and technology innovation board can reflect the future trend and has great development potential," Zhao said. The correlation between the Kechuang 50 index and other A-share sectors is not high. For example, the correlation coefficient between the growth oriented Kechuang 50 index and the growth enterprise market index is less than 0.8. Therefore, from the perspective of asset allocation, this target can also be considered. "

"The science and technology innovation board shoulders the historical mission of helping the great development of China's science and technology innovation, and long-term investment opportunities are expected. If investors are optimistic about the investment opportunities of the science and technology innovation board in the medium and long term, they can try to make some medium and long-term investments or enter the risk diversification in batches in the form of fixed investment. " Zhao said.

In this regard, a senior fund industry personage also said in an interview with the reporter: "now is a good time to invest in Kechuang 50ETF and linked funds. It is recommended to do fixed investment for more than 3-5 years."

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