On October 15th, the new benchmark for core broad-based funds—the first batch of ten CSI A500 ETFs officially debuted, with 20 billion yuan in incremental funds entering the market through this significant broad-based variety. On the first day of listing, the ten CSI A500 ETFs were actively traded, with Wind data showing that the cumulative trading volume of the ten ETFs exceeded ten billion yuan.

In the evening of the same day, the ten fund managers participating in the issuance of the CSI A500 ETFs collectively reported the CSI A500 ETF connected funds again. At the same time, more than ten public fund institutions also reported the off-exchange CSI A500 index funds, and more than twenty public fund institutions reported the CSI A500 index enhanced funds. China Securities Journal reporters learned from the industry that after the CSI A500 ETF was "light-speed" approved for issuance, the CSI A500 ETF connected funds are also expected to welcome "light-speed" approval for issuance.

The first batch of CSI A500 ETFs collectively listed

On October 15th, the first batch of ten CSI A500 ETFs collectively listed. Among them, the CSI A500 ETFs under Fu Guo Fund, Huatai Bo Rui Fund, Morgan Asset Management, Taikang Fund, and China Merchants Fund were listed on the Shanghai Stock Exchange, while the CSI A500 ETFs under Guotai Fund, Jia Shi Fund, Jing Shun Great Wall Fund, Nanfang Fund, and Yinhua Fund were listed on the Shenzhen Stock Exchange.

Wind data shows that as of the closing of the day, the cumulative trading volume of the ten CSI A500 ETFs exceeded 10.8 billion yuan. Among them, the trading volume of the CSI A500 ETFs under Guotai Fund, Nanfang Fund, and Huatai Bo Rui Fund ranked in the top three on the same day.

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This time, all ten CSI A500 ETFs were raised to the "top limit" of 2 billion yuan, with a total fundraising scale of 20 billion yuan, among which the effective subscription households of the CSI A500 ETFs under Morgan Asset Management, Fu Guo Fund, Yinhua Fund, and Guotai Fund all exceeded 20,000 households. It is worth noting that many institutional investors such as securities companies, insurance companies, private equity, trusts, futures, and foreign banks have appeared in the top ten holders of the CSI A500 ETF.

Moreover, several fund companies have purchased their own CSI A500 ETFs. During the product issuance phase, Jia Shi Fund purchased 200 million shares of Jia Shi CSI A500 ETF, and Jing Shun Great Wall Fund purchased 16.377 million shares of Jing Shun Great Wall CSI A500 ETF. On October 15th, Nanfang Fund and China Merchants Fund announced that they would use their own funds of 50 million yuan to invest in the company's CSI A500 ETF, and promised to hold for at least one year.

In the evening of October 15th, the website of the China Securities Regulatory Commission disclosed that the ten fund managers participating in the issuance of the CSI A500 ETFs collectively reported the CSI A500 ETF connected funds again. Reporters learned from the industry that after the CSI A500 ETF was "light-speed" approved for issuance, the CSI A500 ETF connected funds are also expected to welcome "light-speed" approval for issuance.

At the same time, more than ten public fund institutions such as Yi Fangda Fund, Huaxia Fund, and Bosera Fund also reported the off-exchange CSI A500 index funds, and more than twenty public fund institutions such as Bo Dao Fund, BlackRock Fund, and Guojin Fund reported the CSI A500 index enhanced funds.

Reporters found that Guangfa Fund and Zhong Ou Fund simultaneously reported the off-exchange CSI A500 index funds and CSI A500 index enhanced funds; Fu Guo Fund and China Merchants Fund reported the CSI A500 ETF connected funds, and also reported the CSI A500 index enhanced funds.Promoting the Construction of a "Long-term Capital for Long-term Investment" Positive Ecosystem

On September 26th, with the approval of the Central Financial Committee, the Central Financial Office and the China Securities Regulatory Commission jointly issued the "Guiding Opinions on Promoting the Entry of Medium and Long-term Funds into the Market." The "Guiding Opinions" focus on the overall goal of "more long-term capital, longer-term capital, and better returns," and highlight three major measures: building and fostering a capital market ecosystem that encourages long-term investment, vigorously developing equity-based public mutual funds, and improving the supporting policies and systems for various medium and long-term funds to enter the market. Special mention is made of establishing a fast-track approval channel for ETF index funds.

Fuguo Zhongzheng A500 ETF Fund Manager Su Huaqing stated that passive funds and incremental capital such as insurance funds may be key factors in determining this year's market style, while changes in economic expectations are key variables in determining the market's direction. Combining dimensions such as the profit cycle of listed companies, market liquidity, valuation, and favorable policies, he is more optimistic about the performance of large-cap stocks in the future.

Huatai Baorui Fund indicated that the listing of the Zhongzheng A500 Index and its supporting products is timely. At a critical stage where the domestic economy is entering a high-quality development phase, the Zhongzheng A500 Index, with a new perspective, not only reflects the context of the economic and industrial structure but also highlights the vitality of high-quality Chinese assets. With dual representation of core assets and new productive forces, the Zhongzheng A500 Index has significant value and profound significance in the process of building a positive ecosystem for "long-term capital for long-term investment."

Looking ahead to the market, Morgan Zhongzheng A500 ETF Fund Manager Han Xiuyi believes that the current valuation of the Zhongzheng A500 Index is within a reasonable range. With the dense implementation of policy "combination punches," market risk preferences are rapidly repaired. The market recovery and corporate profit expectations are warming up, coupled with the start of the Fed's interest rate cut cycle and the improvement of the external environment. The A-share market recovery trend is expected to continue. Standing at a new starting point for A-shares, as a new representative of A-share broad-based indices, the Zhongzheng A50 Index and Zhongzheng A500 Index are expected to continue to attract investor attention.