科创债ETF鹏华(551030)最新规模突破173亿，央行呵护跨季资金面态度明显

Core Viewpoint - The current bond market is experiencing a complex situation with mixed signals, where a stabilizing funding environment supports bullish sentiment, while the impact of new public bond fund redemption regulations remains uncertain, leading to persistent bearish sentiment [1] Group 1: Market Performance - As of September 22, the Penghua Sci-Tech Bond ETF (551030) reached a new high in scale at 173.54 billion, with a trading volume of 45.62 billion and a turnover rate of 26.31% [1] - The ETF tracks the Shanghai Stock Exchange AAA Sci-Tech Innovation Company Bond Index, which includes bonds rated AAA and above, with nearly 70% of the bonds rated AAA- or higher [1] Group 2: Investment Strategy - The company suggests a defensive strategy, waiting for central bank bond purchases and the implementation of new public fund sales regulations to identify potential trading opportunities after market adjustments [1] - The Penghua Sci-Tech Bond ETF offers advantages such as low fees, low trading costs, high transparency, high diversification, and efficient "T+0" redemption, which helps mitigate investment portfolio risks and improve capital efficiency [1] Group 3: Industry Outlook - Huaxi Securities believes that the policy dividends will create a broad market space for Sci-Tech bonds, with the ETF expected to continue demonstrating long-term allocation value and market influence [2] - Penghua Fund has established a long-term strategy for fixed-income tools since the second half of 2018, actively developing various bond index products and aiming to become a domestic expert in fixed-income indices [2] - The total scale of bond ETFs has surpassed 22 billion, with Penghua Fund also managing significant local government bond ETFs, indicating strong market positioning and liquidity [2]