科创债ETF上新！科创债ETF国泰（551803）今日重磅发行

Core Points - The new batch of Sci-Tech Innovation Bond ETFs is being launched, with the Guotai CSI AAA Sci-Tech Innovation Corporate Bond ETF starting its issuance period from September 12 to 16, aiming to raise up to 3 billion RMB [1] - Sci-Tech bonds are issued by institutions in the technology innovation sector, serving as a new financing tool to support the development of technology innovation, aligning with the needs of new productive forces [1] - The ETF tracks the CSI AAA Sci-Tech Innovation Corporate Bond Index, covering over 66% of the exchange-traded Sci-Tech bonds, with a total bond capacity of 1.26 trillion RMB as of September 1 [1][2] Index Performance - As of September 1, the index has a duration of 3.6 years, with over half of the bonds having a duration between 2 to 5 years, and a static yield of 1.92% based on the China Bond valuation [2] - The annualized return of the index since its inception on June 30, 2022, is 4.41%, outperforming the Shanghai and Shenzhen corporate bonds [2] Fund Management - The Guotai Sci-Tech Bond ETF employs a "dual fund manager" model, with experienced managers Wang Yu and Wang Zhenyang overseeing the investment [3] - The managers anticipate an influx of funds into Sci-Tech bonds, with potential for credit spread compression due to supportive policies and a longer duration aligning with the needs of long-term capital [3] Market Outlook - The managers note that recent asset price fluctuations due to anti-involution policies may present opportunities for bond allocation, despite pressures on domestic and external demand [3]