【金工】被动资金持续加仓港股ETF，医药主题基金净值优势显著——基金市场与ESG产品周报20250707（祁嫣然/马元心）

Market Performance Overview - The domestic equity market continued its upward trend, with the CSI 300 index rising by 1.54% during the week of June 30 to July 4, 2025. Gold prices also saw a significant increase. The steel, building materials, and banking sectors experienced the highest gains, while the computer, non-bank financial, and beauty care sectors faced the largest declines [3]. - All types of fund indices achieved positive returns, with ordinary equity funds rising by 1.60% [3]. Fund Product Issuance - The domestic new fund market saw a decrease in activity, with 23 new funds established, totaling 5.328 billion units issued. This included 13 equity funds, 4 bond funds, 5 mixed funds, and 1 fund of funds (FOF). In total, 36 new funds were issued across the market, comprising 25 equity funds, 6 bond funds, and 5 mixed funds [4]. Fund Product Performance Tracking - The long-term thematic fund indices continued to rise, with the pharmaceutical theme fund showing the highest increase of 5.70%. Other themes such as finance and real estate, industry rotation, and balanced industry funds also performed well, while TMT and national defense industry funds lagged behind [5]. ETF Market Tracking - Stock ETFs experienced a net outflow of 20.817 billion yuan, primarily from large-cap broad-based ETFs, while Hong Kong stock ETFs saw a significant inflow of 7.821 billion yuan. The median return for stock ETFs was 1.35%, while the median return for Hong Kong stock ETFs was -0.75% [7]. - The median return for cross-border ETFs was 1.32%, with a net inflow of 0.375 billion yuan. Commodity ETFs had a median return of 1.12% and a net inflow of 2.24 billion yuan. The Sci-Tech Innovation Board theme ETF saw a net inflow of 0.84 billion yuan, while other broad-based ETFs experienced net outflows totaling 23.298 billion yuan [7]. Fund Positioning Monitoring - The estimated equity positioning of actively managed funds decreased by 0.44 percentage points compared to the previous week. Increased allocations were observed in the pharmaceutical, national defense, and electronics sectors, while reductions were noted in non-ferrous metals, household appliances, and electric equipment sectors [8]. ESG Financial Product Tracking - Twelve new green bonds were issued this week, with a total issuance scale of 33.461 billion yuan. The domestic green bond market has steadily developed, with a cumulative issuance scale of 4.63 trillion yuan and a total of 3,954 bonds issued as of July 4, 2025 [9]. - In terms of fund performance, the median return for actively managed equity, passive equity index, and bond ESG funds was 1.22%, 1.89%, and 0.15%, respectively. Funds focused on low-carbon economy, carbon neutrality, and the Belt and Road Initiative showed significant performance advantages [9].