百亿级ETF数量突破100只【国信金工】

Market Review - The A-share market saw all major indices rise last week, with the Sci-Tech 50, ChiNext, and SME indices leading with returns of 13.31%, 5.85%, and 4.64% respectively, while the CSI 1000, SSE Composite, and CSI 500 indices lagged with returns of 3.45%, 3.49%, and 3.87% respectively [5][17] - The total trading volume of major indices increased, with the communication, electronics, and computer sectors performing best, yielding returns of 10.47%, 9.00%, and 7.80% respectively, while real estate, pharmaceuticals, and coal sectors lagged with returns of 0.98%, 1.17%, and 1.23% respectively [5][22] Fund Issuance - A total of 39 new funds were established last week, with a combined issuance scale of 233.14 billion yuan, showing an increase from the previous week. Additionally, 45 funds entered the issuance phase, with 28 funds set to begin issuance this week [3][4] - The China Securities Regulatory Commission (CSRC) reported 63 fund applications last week, including 4 FOFs and 1 REITs, along with various ETFs focused on technology and artificial intelligence [4][7] Fund Performance - Active equity, flexible allocation, and balanced mixed funds reported returns of 3.15%, 2.74%, and 1.81% respectively last week. Year-to-date, active equity funds have performed best with a median return of 21.88% [5][37] - The median excess return for index-enhanced funds was -0.25%, while quantitative hedge funds had a median return of 0.07%. Year-to-date, the median excess return for index-enhanced funds was 3.63% [39][40] ETF Market - As of August 22, 2025, the number of ETFs with assets exceeding 100 billion yuan has surpassed 100, totaling 101, with stock ETFs leading in both quantity (50) and total assets (2.5 trillion yuan) [14] - Seven ETFs have doubled their returns this year, all related to innovative pharmaceuticals, reflecting strong market sentiment towards the sector due to supportive policies and improved fundamentals of leading pharmaceutical companies [12][13] Bond Market - The People's Bank of China conducted a net injection of 13,652 billion yuan through reverse repos last week, with a total market injection of 20,770 billion yuan. Interest rates for government bonds have risen, with spreads widening by 3.11 basis points [25][30] - The median premium rate for convertible bonds was 27.20%, a decrease of 0.27% from the previous week, while the median pure bond premium rate increased by 3.33% to 28.67% [32]