四只信用债ETF跻身百亿俱乐部

Core Insights - The recent inclusion of credit bond ETFs in the pledged repo trading has significantly boosted trading activity, with two benchmark market-making credit bond ETFs exceeding 10 billion yuan in trading volume on June 11 [1][2] - The rapid influx of funds has led to four credit bond ETFs, established for less than six months, joining the "100 billion club" [1][2] - Fund managers believe that the ability to use credit bond ETFs for pledged financing enhances their attractiveness and expands the potential investor base [1][3] Trading Activity - On June 11, the trading volume of the Southern CSI Benchmark Market-Making Corporate Bond ETF surpassed 15.5 billion yuan, marking an increase of over 7 billion yuan from the previous trading day, setting a new single-day trading record [1] - The E Fund CSI Benchmark Market-Making Corporate Bond ETF also saw trading volume exceed 9 billion yuan, while several other ETFs recorded volumes above 6 billion yuan [1] Growth in Scale - As of June 10, four benchmark market-making credit bond ETFs have surpassed the 10 billion yuan mark in scale, with specific figures being 13.72 billion yuan for E Fund, 13.21 billion yuan for Southern, 10.76 billion yuan for Hai Fu Tong, and 10.17 billion yuan for Hua Xia [2] - Other ETFs like Bosera and GF have also shown significant scale growth, reaching 9.01 billion yuan and 8.27 billion yuan respectively [2] Leverage Strategies - The recent month has seen net inflows exceeding 5 billion yuan for the top four credit bond ETFs, with GF's deep credit bond ETF seeing net inflows over 4 billion yuan [2] - The ability to employ a "buy ETF - pledge financing - reinvest" strategy allows investors to enhance returns through leverage [4] Liquidity Management - The inclusion of credit bond ETFs in the pledged repo trading enhances liquidity and serves as a liquidity management tool, allowing investors to mitigate short-term liquidity risks [3] - This move is seen as a critical step in addressing the developmental shortcomings of credit bond ETFs, significantly increasing their investment appeal [3]