“真金白银”力挺A股 公募“接力”自购权益基金

Core Viewpoint - Several large public fund companies have recently announced self-purchase plans, indicating confidence in the long-term stability and health of the Chinese capital market [1][4]. Group 1: Self-Purchase Announcements - On August 11, Southern Fund announced a self-purchase plan involving an investment of at least 230 million yuan in three equity funds, committing to hold for at least one year [1][2]. - In the past two weeks, four public fund companies, including Southern Fund, ICBC Credit Suisse Fund, Taikang Fund, and Founder Fubon Fund, have disclosed self-purchase plans, with total investments exceeding 260 million yuan [2][7]. - Southern Fund's self-purchase plan is particularly notable, targeting specific equity funds such as the Southern CSI A500 ETF and the Southern S&P China A-Share Large Cap Dividend Low Volatility ETF [2][3]. Group 2: Market Sentiment and Valuation - The self-purchase actions by multiple fund companies signal their recognition of the current market valuation's reasonableness and their confidence in the medium to long-term investment value [4][8]. - According to Wind data, as of August 6, the price-to-earnings ratios of the CSI 300 Index and the Hang Seng Index are 13.93 and 11.83, respectively, both lower than major mature market indices, indicating that the Chinese stock market is in a "valuation pit" [3][4]. Group 3: Implications for Investors - Fund companies' self-purchases are seen as a way to enhance trust and stabilize investor sentiment, as they align their interests with those of investors [4][9]. - While self-purchase can be a positive signal, it should not be the sole criterion for investment decisions; investors are advised to consider other factors such as fund manager capability and investment strategy [8][9]. - The trend of self-purchases has been ongoing, with over 100 fund management companies having implemented self-purchases this year, reflecting a regulatory push to encourage such actions [6][7].