新规下首批浮动管理费产品申报【国信金工】

Market Review - The A-share market showed a mixed performance last week, with the ChiNext Index, CSI 300, and Shanghai Composite Index yielding returns of 1.38%, 1.12%, and 0.76% respectively, while the STAR 50, CSI 1000, and CSI 500 indices had negative returns of -1.10%, -0.23%, and -0.10% respectively [6][10] - The automotive, non-bank financial, and retail sectors performed well, with returns of 2.71%, 2.67%, and 2.23% respectively, while the defense, computer, and comprehensive finance sectors lagged with returns of -1.61%, -1.40%, and -0.79% respectively [16][17] Fund Performance - Last week, the median returns for active equity, flexible allocation, and balanced mixed funds were 0.34%, 0.17%, and 0.16% respectively. Year-to-date, alternative funds have performed the best with a median return of 4.85% [28][30] - The median excess return for index-enhanced funds was 0.14%, while quantitative hedging funds also had a median return of 0.14%. Year-to-date, the excess median return for index-enhanced funds was 1.50% [31][32] Fund Issuance - A total of 15 new funds were established last week, with a total issuance scale of 6.345 billion yuan, which is a decrease from the previous week. Additionally, 27 funds entered the issuance phase, and 31 funds are set to begin issuance this week [3][40] - The first batch of 26 new floating management fee products was submitted for approval, which will link management fees to fund performance for eligible investors [5] Bond Market - As of last Friday, the central bank's reverse repos netted a withdrawal of 350.1 billion yuan, with a total of 836.1 billion yuan maturing and a net open market injection of 486 billion yuan. The pledge-style repo rates increased, with the 1-day rate rising by 12.92 basis points [18][19] ETF Index Series - On May 14, the China Securities Index officially launched several new ETF index series, including the CSI A500 and CSI cash flow indices, providing diversified benchmarks and investment targets for fund companies [9]