Group 1 - The bond ETF market has experienced rapid growth, with total scale surpassing 500 billion yuan, nearly doubling from the end of last year [1] - The newly launched Sci-Tech Bond ETFs have significantly contributed to this growth, with their scale increasing from approximately 29 billion yuan to nearly 100 billion yuan within just three trading days [1] - The first batch of 10 Sci-Tech Bond ETFs was established with a total issuance scale of 289.88 billion yuan, and by July 21, their combined scale reached 994.78 billion yuan [1] Group 2 - Trading enthusiasm in the market remains high, with the trading volume of Sci-Tech Bond ETFs reaching 185 billion yuan on July 22, ranking second among all ETFs [2] - The total trading volume of the 10 Sci-Tech Bond ETFs exceeded 800 billion yuan on their first trading day, with significant contributions from individual ETFs [2] - Overall, the bond index funds have seen rapid development, with total scale reaching a historical high of 1.53 trillion yuan by the end of June, marking a growth of 16.05% from the end of 2024 and 97.47% from the end of 2023 [3]

Core Viewpoint - The BoShi ZhongDai 3-5 Government Financial Bond Index A has experienced a decline of 0.05% on July 14, with a cumulative drop of 1.73% over five consecutive trading days [1] Group 1: Fund Performance - The latest net value of BoShi ZhongDai 3-5 Government Financial Bond Index A is 1.06 yuan [1] - Since its establishment in December 2019, the fund has achieved a cumulative return of 21.84% [1] - The fund's total scale is 116.22 billion yuan [1] Group 2: Holder Structure - As of the end of 2024, institutional investors hold 104.96 million shares, accounting for 99.73% of the total shares [1] - Individual investors hold 0.29 million shares, representing 0.27% of the total shares [1] Group 3: Fund Manager Background - The current fund manager, Wei Zhen, has extensive experience in fixed income and has held various positions at BoShi Fund since 2005 [2] - Wei Zhen has managed multiple bond funds and is currently the Managing Director and General Manager of Fixed Income Investment [2] Group 4: Portfolio Composition - As of March 31, 2025, the top five holdings of BoShi ZhongDai 3-5 Government Financial Bond Index A account for a total of 42.84% [3] - The top holdings include: 19 Agricultural Development (11.02%), 19 National Development (9.59%), 24 Agricultural Development (8.22%), 19 Exit and Entry (8.16%), and 23 Agricultural Development (5.85%) [3]

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].

Group 1 - The fund is named "浦银安盛 CFETS 0-5 Year Central Enterprise Bond Index Fund" and is managed by浦银安盛基金管理有限公司 with 南京银行股份有限公司 as the custodian [2][4][12] - The fund aims to achieve total returns similar to the underlying index before fees, using a passive index investment strategy and sampling replication method [2][5] - The fund's performance benchmark is defined as the CFETS 0-5 Year Central Enterprise Bond Index return multiplied by 95% plus the after-tax bank demand deposit rate multiplied by 5% [2][5] Group 2 - As of the end of the reporting period, the total fund shares amounted to 988,582,456.51 [2][4] - The fund reported a net profit of 45,585,088.0 for the period, with a net value growth rate of 4.24% for the past year [6][12] - The fund's annual profit distribution included a cash distribution of 0.6500 per 10 shares for Class A and 0.6000 for Class C [12][12] Group 3 - The fund management company,浦银安盛基金管理有限公司, was established in August 2007 and is primarily engaged in fund raising, sales, asset management, and other licensed activities [12][13] - The company manages a total of 107 funds, including various types of equity and bond funds [13][14] - The fund management team includes experienced professionals with backgrounds in finance and investment management [19][21]