信用债ETF博时（159396）规模破百亿背后：资金为何聚焦这一赛道？

Core Viewpoint - The article highlights the rapid growth of bond ETFs in China, particularly the BoShi Credit Bond ETF (159396), which has surpassed 10 billion yuan in scale within six months of its launch, driven by favorable market conditions and increasing investor interest [2][4][5]. Group 1: Market Growth and ETF Performance - The total scale of bond ETFs in China has exceeded 300 billion yuan as of June 6, marking a historical high, attributed to both new fund launches and continuous inflows into existing bond ETFs [2]. - The BoShi Credit Bond ETF (159396) has become a significant player, being the first credit bond ETF from BoShi and the tenth product in its bond index toolbox, aimed at providing investors with a convenient and transparent trading channel for mid-to-high-grade bonds [2][4]. Group 2: Factors Driving Popularity - The bond index fund market in China is relatively underdeveloped, with a market share of around 10%, compared to 40% in mature markets like the U.S., indicating substantial growth potential [4]. - The limited number of existing credit bond index funds presents an opportunity for growth in this segment [5]. - The low management fee of 0.15% per year and custody fee of 0.05% per year for BoShi's bond ETFs cater to diverse needs of institutional and individual investors [5]. Group 3: Product Advantages and Recent Developments - The BoShi Credit Bond ETF tracks a benchmark index composed of mid-to-high-grade bonds listed on the Shenzhen Stock Exchange, all rated AAA, offering good liquidity and low credit risk [5]. - The product was recently included in the general pledged repo market, enhancing its liquidity and attractiveness as a collateralized asset [7][10]. - The ability to use the ETF for repo transactions allows investors to enhance returns through leveraged financing, making it a more appealing option compared to traditional liquidity management tools [10].