Core Insights - The article discusses the investment strategy of Ping An Fund for the mid-2025 period, highlighting the performance and features of the Ping An Company Bond ETF, which is the first high-grade credit bond ETF in the market and the first Smart Beta bond ETF [1] Group 1: ETF Overview - The Ping An Company Bond ETF (code: 511030) was established on December 27, 2018, and tracks the China Bond High-Grade Corporate Bond Spread Factor Index, comprising over 1,600 sample bonds across 23 primary industries [1] - As of June 13, 2025, the ETF's scale reached 18.276 billion, making it the third-largest credit bond ETF in the market, with a significant increase from over 15 billion earlier this year [1] Group 2: Performance and Liquidity - The ETF has a high credit quality, with its underlying index and bond ratings both at AAA, and over 98% of its implied ratings at AA+ [2] - The ETF has seven market makers, including major institutions like CITIC and Galaxy, with an average daily trading volume of 460 million in 2024, peaking at 1.29 billion on a single day [2] - Since its inception, the ETF has outperformed the full-price index and benchmark, achieving an annualized return of over 2.9%, with a return of 3.62% in 2024 and 3.38% in 2023, along with cumulative dividends of nearly 750 million [2] Group 3: Target Audience and Applications - The Ping An Company Bond ETF caters to a diverse range of investors, including insurance clients, bank proprietary clients, private equity, and individual investors [3] - It has been included in the China Clearing General Pledge Library, providing investors with various applications such as adjusting portfolio duration and yield, obtaining liquidity, and enhancing holiday returns [3]
平安公司债ETF基金经理王郧：公司债ETF规模超180亿 为全市场首只中高等级信用债ETF
Quan Jing Wang·2025-06-26 07:57