Core Insights - Central Huijin and other institutional investors have significantly increased their holdings in ETF funds, reaching 1.55 trillion yuan by the end of September, making them the largest value investors in the A-share market [1] - The flexibility and satisfactory return expectations of ETF funds are key reasons for Central Huijin's preference for this investment vehicle [1][2] Group 1: Investment Characteristics of ETFs - ETFs are suitable for large institutional investors like Central Huijin due to their massive capacity, allowing for the accommodation of over a trillion yuan in funds [1] - ETFs primarily hold large-cap blue-chip stocks, which are crucial in the overall market, ensuring that the investment value is generally above average [1] - The trading of ETFs in the secondary market resembles that of stocks, providing enhanced liquidity and convenience for institutional investors, especially during critical market stabilization moments [1][2] Group 2: Market Impact and Fairness - Buying ETFs minimizes market impact during transactions, as large purchases do not lead to significant price fluctuations compared to buying individual stocks [2] - The purchase of ETFs supports the principle of fairness in the market, as it avoids the biases associated with direct stock purchases [2] Group 3: Return Expectations and Risk Management - ETFs meet the return expectations of large institutional investors, who prioritize stability over high returns, making them a preferred choice [2] - Central Huijin's investment in ETFs allows for diversified exposure to leading companies across various industries, thereby reducing investment risk [2] Group 4: Promoting Value Investment - Central Huijin's sustained and large-scale investment in ETFs promotes the concept of value investing, encouraging a shift from a "money market" to a "value market" [3] - Smaller investors are encouraged to consider investing directly in ETFs, as this approach may yield better long-term returns compared to individual stock investments [3]
侃股：中央汇金缘何偏爱ETF
Bei Jing Shang Bao·2025-10-30 11:37