易方达、华泰柏瑞、永赢、摩根、景顺长城、鹏华、工银瑞信首批7只双创人工智能ETF定档 新一轮发行热潮来袭

Core Viewpoint - The launch of the first batch of seven innovative AI ETFs by various fund companies is set to take place on November 28, 2023, following their approval on November 21, 2023, indicating a significant opportunity for investors to engage in the "hard technology" sector and potentially attract new capital to the market [1][2]. Fund Issuance Details - The first batch of seven innovative AI ETFs will have varying fundraising periods, with most companies opting for one to two weeks. Notably, Yongying's ETF will have a rapid three-day fundraising period, ending on December 2, while others will conclude between December 5 and December 12 [3]. - Six out of the seven fund companies have set fundraising caps, with E Fund, Morgan Fund, and Invesco Great Wall each having a cap of 8 billion yuan, while Huatai-PB's cap is set at 5 billion yuan, and Penghua and Yongying have caps of 2 billion yuan and 1 billion yuan, respectively [3]. Market Interest - Institutional investors have shown significant interest in the issuance of these ETFs, indicating a potential surge in demand and a possible issuance boom [4]. Index Tracking - The ETFs will track a new index, the CSI Innovation and Entrepreneurship AI Index, which includes stocks from the Sci-Tech Innovation Board and the ChiNext that meet specific criteria, such as a listing time of over six months and a ranking in the top 30 by average daily market capitalization [5]. - The index aims to represent companies involved in three categories of AI business: foundational resources, technology, and applications, ultimately selecting the top 50 stocks based on market capitalization [5]. Comparative Analysis of AI Indices - Morgan Fund conducted a comparative analysis of four major AI indices, highlighting that the CSI Innovation and Entrepreneurship AI Index includes 50 stocks, with the top three being Zhongji Xuchuang, Xinyisheng, and Hanwujing [6]. - The index has shown a year-to-date increase of over 75%, indicating strong performance and resilience [6]. Strategic Significance - The launch of these ETFs is significant as it aligns with national strategies for AI development, aiming to capture the growth potential of the AI industry while providing a diversified investment tool for investors [8]. - The dual attributes of the index, covering both the Sci-Tech Innovation Board and the ChiNext, enhance its uniqueness and representativeness, making it a valuable tool for investors looking to mitigate individual stock risks [8]. Market Dynamics - Current AI investments are supported by large, cash-rich companies, contrasting with the 1990s tech bubble, suggesting a more stable foundation for growth and commercial viability in the AI sector [9]. - The ongoing demand for AI capabilities, coupled with high data center utilization rates, indicates a robust market environment with limited risks of overcapacity in the short term [9].