国内首只千亿级黄金ETF诞生【国信金工】

Market Review - The A-share market showed a mixed performance last week, with the CSI 300, Shanghai Composite Index, and ChiNext Index yielding returns of 2.58%, 2.18%, and 1.55% respectively, while the same indices had negative returns of -0.57%, -0.45%, and 1.00% in the previous week [7][12]. - The computer, electronics, and media sectors performed well, with returns of 4.31%, 3.64%, and 3.34% respectively, while the defense, agriculture, and coal sectors lagged with returns of -5.66%, -3.49%, and -3.34% [19][20]. - The central bank's net reverse repurchase was 812.8 billion yuan, with a total market liquidity injection of 951.5 billion yuan [21]. Fund Performance - Last week, active equity, flexible allocation, and balanced mixed funds achieved returns of 1.27%, 0.67%, and 1.06% respectively. Year-to-date, the median return for active equity funds is 5.84% [33][35]. - The median excess return for index-enhanced funds was 0.25%, while quantitative hedge funds had a median return of 0.19%. Year-to-date, both types of funds showed a median excess return of -0.03% [36][37]. Fund Issuance - A total of 23 new funds were established last week, with a total issuance scale of 19.294 billion yuan, an increase from the previous week. The majority of the new funds were passive index funds (8 funds) and equity mixed funds (7 funds) [3][45][46]. - There were 43 funds reported for issuance last week, including various ETFs and FOFs [4][7]. Bond Market - The central bank's net reverse repurchase was 812.8 billion yuan, with a total market liquidity injection of 951.5 billion yuan. The pledge-style repo rates increased, with the 1-month rate rising by 5.01 basis points [21][22]. - The yield spread for different-rated credit bonds has widened, with the yield for various maturities showing a downward trend [23][25][26]. ETF Development - The Huaan Gold ETF reached a scale of 101.528 billion yuan, becoming the first gold ETF in China to exceed 100 billion yuan, reflecting strong investor demand for gold assets amid a favorable international gold price environment [10].