智通财经9月30日讯（记者 闫军）时隔14年，交银施罗德重启ETF。 9月29日，证监会网站显示，交银施罗德基金上报中证智选沪深港科技50ETF，当前处于已接收材料，等待监管批复。 和首次布局ETF的兴证全球基金类似，交银施罗德重启ETF业务也没有选择宽基指数，而是从小赛道切入，定制了中 证智选沪深港科技50ETF，港股与科技的buff叠满。 "主动"烙印明显 在经历了多次传闻之后，上海滩的主动权益大厂们直接明牌了，加入ETF大战。国庆节前夕，交银施罗德上报了中证 智选沪深港科技50ETF，等待监管批复。 交银施罗德是否布局ETF一事备受市场关注，原因在于谢卫时代的交银施罗德"主动"烙印明显，公司旗下绩优基金经 理频出，从昔日的王崇、何帅、杨浩"交银三剑客"，到如今的杨金金等人。因此，面对连中小基金公司都已加入鏖战 的ETF大时代，交银施罗德始终不为所动。 今年以来，关于"传统主动权益大厂要不要加入ETF"的传闻渐多，面对大趋势，当事基金公司的对外口径也出现了松 动，从此前"没有计划"变成了"正在讨论与研究"。 率先破冰的是兴证全球基金，今年6月，兴证全球基金采购了深圳市赢时胜信息技术股份有限公司开发的赢时胜 ...

智通财经记者 | 韩理 债券ETF市场迎来"新成员"。 7月7日，富国、景顺长城、南方、嘉实、招商、广发、易方达、鹏华、华夏、博时基金等10家公募齐齐首发科创债ETF，其中有7家公司确认当天结束募 集，另有三家的募集期在2-3天不等。 智通财经从渠道人士处获悉，截至发稿，全部10家公司都已经结束募集。 作为债券ETF的又一创新型产品，10只产品齐发并没有展现出浓重的"火药味"，相较于股票型ETF发行时的激烈竞争，基金公司在这个新品种上的营销显得 更为克制。 华南某公募人士告诉智通财经，一方面科创债ETF的募集资金多来自机构，一般是提前已经谈好的。另一方面，多数公司都只设置了一天募集时间，也是为 了能够早点上市在持营上抢跑。 嘉实科创债ETF拟任基金经理王喆表示，当前国内经济转型升级正处于关键阶段，传统产业通过技术改造和结构优化迈向高质量发展，战略性新兴产业加速 成长，为科创债投资提供了丰富且优质的底层资产来源，相比单一市场选样的同类指数，中证AAA科技创新公司债指数跨市场选样，后期发展容量优势更 强。 智通财经注意到，今年债券型ETF发展迅猛。在今年2月突破2000亿大关后，截至6月30日，债券型ETF规模已 ...

Core Viewpoint - The rise of ETF-FOF products is becoming a new trend in investment allocation, driven by the efficiency and advantages they offer compared to traditional FOF products [3][4][5]. Group 1: ETF-FOF Product Development - Several fund companies, including China Europe Fund and Ping An Fund, have reported new ETF-FOF products this year, indicating a renewed interest in this investment vehicle [3]. - The ETF-FOF market has evolved since its introduction in 2021, with a significant slowdown in growth observed in 2023, but is expected to regain traction by 2025 [3][5]. - By the end of 2024, over 90% of public FOFs had allocated to ETFs, with ETF allocations accounting for 16.69% of total FOF assets, surpassing the 11.93% of ETFs in the overall public fund market [4]. Group 2: Advantages of ETF-FOF - ETF-FOF products offer higher capital efficiency, timely asset allocation adjustments, and lower total fees compared to traditional FOFs, enhancing the investment experience for investors [4][5]. - The core design of ETF-FOF is to diversify investments across various ETFs, balancing risk and return while maintaining the advantages of ETFs such as low fees and transparency [5][11]. - The increasing popularity of passive investment strategies has led public FOFs to utilize index funds more frequently, which helps reduce costs and improve investment efficiency [9][11]. Group 3: Market Trends and Statistics - In Q1 2025, the issuance of new public FOFs saw a significant increase, with 16 products totaling approximately 14.15 billion yuan, marking a substantial rise from the previous quarter [7]. - The overall scale of public FOFs reached approximately 1510.79 billion yuan by the end of Q1 2025, reflecting a 13.46% increase from the previous quarter [7]. - The ranking of FOF managers has shifted significantly from 2019 to 2024, with notable changes in market share among the top ten managers [8]. Group 4: Popular Investment Themes - The most favored themes among FOFs include technology and dividend ETFs, indicating a preference for a "barbell strategy" that combines growth and defensive investments [9][10]. - By the end of Q4 2024, the number of FOFs holding specific ETFs, such as the Huatai-PB Dividend Low Volatility ETF, has increased significantly, showcasing the growing interest in these investment vehicles [10]. Group 5: Asset Allocation Strategies - Public FOFs are increasingly adopting a multi-asset allocation framework, incorporating various asset classes such as stocks, bonds, commodities, and overseas assets [11][12]. - The allocation to commodity ETFs, particularly gold, has seen a notable increase, driven by factors such as central bank purchases and geopolitical uncertainties [12][13].

Group 1 - The core viewpoint of the articles highlights the increasing preference of investors for diversified asset allocation to seek relative certainty and mitigate risks, with over 80% of FOF products achieving positive returns as of May 16, 2025 [1][3] - The unique advantage of FOF is its diversified allocation strategy, which includes a selection of actively managed funds, passive index funds, QDII funds, and alternative funds, enhancing the diversity of income sources [1] - In the first quarter, FOF fund managers actively utilized their allocation advantages by investing in equity ETFs, increasing exposure to Hong Kong and overseas markets, and positioning in popular sectors such as gold, technology, and pharmaceuticals [1] Group 2 - According to CITIC Securities, two major trends in FOF asset allocation are emerging: diversification, with a significant increase in the proportion of commodity funds, QDII funds, and mutual recognition funds; and passive investment, with a growing reliance on index funds to lower investment costs and improve efficiency [1] - The FOF product managed by GF Fund's asset allocation department exemplifies the characteristics of diversification and passive investment, holding a variety of ETFs and maintaining a low concentration with no single fund exceeding 4% of the total [3] - As the advantages of FOF allocation become more prominent, FOF funds are gaining recognition from an increasing number of investors, with the total market size of public FOF products reaching 151.1 billion yuan, an increase of 17.9 billion yuan from the previous quarter, marking a new high in nearly a year [3]

昨天说过，今晚要继续加更一篇，主要是想解读一下本周三个很有热度的新闻。 一是周五晚上，金融监管总局发布的通知， 允许保险公司对万能险产品，调整最低保证利率 ，这对保险行业，有很深远的影响； 二是上周，交易商协会发布的， 债券估值业务自律指引 ，对银行理财、信用债、以及整个资管市场，都会有很明确的连锁反应； 三是这两天，媒体在炒的，全球最大的主权基金—— 挪威养老基金，一季度炒股"巨亏"的消息 ，我们还原一下新闻背后的实际逻辑，并谈谈对 投资的启发。 废话不多说，直接步入主题。 另外，提醒一下， 昨晚的文章里有抽奖 ，抽价值200多块的星巴克杯子，一共20个，现在是600多条评论，中奖概率在3%左右，明天一早9点截止，现在 还能去留个言，做大分母。 ...... 一、保险行业要变天了吗？ 新闻是这样的，我直接贴一下图。 我们不是专门聊保险的账号，之前也说过，这个账号不会向大家推销任何的保险产品，所以，这个通知，对大家销售或者购买具体的保险，有什么影响， 不是我们要聊的重点， 主要和大家谈一些，更加宏观的事实 ，分以下几点。 1、"万能险"这个名字，一开始就是翻译错的 。万能险的英文名，叫"Universal L ...