Core Insights - The A-share core assets continue to show strong recovery momentum, with the CSI A500 Index reaching a new high since February 1, 2022, as of September 29, 2025 [1][2] - The Huatai-PB CSI A500 ETF (563360) has seen significant capital inflows, with a net subscription of 4.279 billion yuan over five trading days from September 23 to September 29, 2025 [1][2] - The fund's scale has reached 27.231 billion yuan, making it the only ETF tracking the CSI A500 Index to surpass 25 billion yuan in the market [2] Fund Performance and Features - The Huatai-PB CSI A500 ETF has achieved a cumulative unit net value of 1.2428 yuan, marking a new high since its inception [3] - The fund features a low fee structure, with management and custody fees at 0.15% and 0.05% per year, respectively, which are among the lowest in the A-share market [4][6] - The fund's performance since inception has yielded a return of 2.50%, compared to the benchmark CSI A500 Index's return of 19.18% [5] Market Context - The National Development and Reform Commission announced a new policy financial tool worth 500 billion yuan to support effective investment and enhance financial services for the real economy [2] - The CSI A500 Index is expected to attract more incremental capital due to the improving trend of the Chinese economy, with a balanced approach to core asset allocation [2]

Group 1 - The market sentiment showed slight improvement last week, with the CSI A500 index reaching its highest level since March 1, 2022, and a cumulative increase of 39.63% over the past year, outperforming other core indices like CSI A50 and CSI A100 [1] - The A500 ETF by Huatai-PB (563360) has seen continuous net inflows for four consecutive trading days, accumulating a total of 2.377 billion yuan in inflows, bringing its fund size to 25.166 billion yuan, marking a historical high since its inception [1][4] - The A500 ETF's trading volume reached a new monthly high of 5.015 billion yuan on September 26, 2025, highlighting its significant scale and liquidity advantages [1] Group 2 - Citic Securities noted that liquidity may contract before the National Day holiday, but this is expected to be a "sentimental contraction," with potential for a "post-holiday rally" that could sustain gains due to favorable events coinciding with the holiday [2][3] - The A500 ETF employs an "industry-neutral + market capitalization selection" method, focusing on leading companies in sub-sectors, which may provide a comprehensive representation of core assets in the A-share market [3][4] - The A500 ETF has a low fee structure, with management and custody fees at 0.15% and 0.05% per year, respectively, making it one of the lowest in the A-share market [5][6]

Core Insights - The A-share market has seen significant positive changes over the past year, with total market capitalization exceeding one trillion yuan and daily trading volumes frequently surpassing 3 trillion yuan, indicating increasing attractiveness of Chinese assets [1] - Standard Chartered Bank has expressed optimism about Chinese stocks, maintaining an "overweight" rating in its global market outlook report published on July 8, 2023 [1] - The CSI A500 Index, launched on September 23, 2024, has witnessed the growth and transformation of the A-share market over the past year, with the A500 ETF from Huatai-PB (563360) reaching a scale of 22.548 billion yuan, nearly at its historical peak [1] A500 ETF Overview - The A500 ETF closely tracks the CSI A500 Index, which employs an "industry-neutral + market capitalization selection" methodology, favoring leading companies across various sectors [1] - The A500 ETF has seen a remarkable growth of 1027% since its inception on September 25, 2024, with an average daily trading volume of 3.666 billion yuan since September 2025 [1] - The fund's management and custody fees are among the lowest in the A-share market, at 0.15% and 0.05% per year, respectively, which supports low-cost investment strategies for investors [2][3] Fund Performance and Management - As of September 23, 2025, the A500 ETF has a cumulative unit net value of 1.2129 yuan, making it one of the few ETFs tracking the CSI A500 Index to exceed this value [2] - Huatai-PB Fund Management, the manager of the A500 ETF, is one of the first ETF managers in China with over 18 years of experience, managing the largest ETF in the A-share market, the CSI 300 ETF [2] - The total scale of non-money market ETFs managed by Huatai-PB exceeds 565 billion yuan as of September 23, 2025 [2][3]

Group 1 - The core viewpoint of the article highlights the increasing attractiveness of Chinese assets for both domestic and foreign institutions amid the Federal Reserve's resumption of the interest rate cut cycle, which is seen as a "risk management" approach to support economic growth [1] - As of September 21, 2025, 729 foreign institutions have conducted a total of 6,923 investigations into A-share companies, with over 400 investigations occurring in September alone, indicating strong foreign interest in Chinese assets [1] - The CSI A500 Index, an important component of the A-share broad-based index system, is positioned as a key tool for capturing overall opportunities in Chinese assets, with the A500 ETF from Huatai-PB seeing a capital inflow of 1.033 billion yuan over the last ten trading days [1] Group 2 - The A500 ETF closely tracks the CSI A500 Index, which features broad coverage and balanced industry representation, focusing on leading companies in the third-tier industries, potentially benefiting from China's modernization process [2] - As of September 19, 2025, the top five industries represented in the index are electronics, power equipment, banking, pharmaceuticals, and non-bank financials, showcasing a balanced industry allocation with both growth and value attributes [2] - The A500 ETF and its linked funds have a low fee structure, with management and custody fees at 0.15% and 0.05% per year, respectively, making them among the lowest in the A-share market [2][3] Group 3 - The A500 ETF has a cumulative unit net value of 1.2101 yuan as of September 19, 2025, making it one of the few ETFs tracking the CSI A500 Index to exceed this value [2] - Huatai-PB Fund, the manager of the A500 ETF, is one of the first ETF managers in China with over 18 years of experience, and it manages the largest ETF in the A-share market, the CSI 300 ETF, with a scale exceeding 566 billion yuan [2][3]

Group 1 - The overall A-share market experienced fluctuations following the Federal Reserve's interest rate cut expectations, but trading activity remained robust, with a total trading volume exceeding 3.1 trillion yuan on September 18, 2025, marking a 763.6 billion yuan increase from the previous trading day, ranking as the fourth highest in history [1] - As of September 18, 2025, the total trading volume of A-shares for the year reached 283.59 trillion yuan, doubling compared to the same period in 2024, indicating a recovery in investor confidence and increased market participation [1] - Foreign capital is gradually increasing its allocation to Chinese assets, with Goldman Sachs maintaining an overweight rating on A-shares and H-shares, focusing on themes such as leading private enterprises, artificial intelligence, anti-involution, and shareholder returns [1] Group 2 - The CSI A500 Index, which covers a wide range of industries, has gained attention in the market, with a 14.44% increase over the past six months, outperforming other indices such as CSI 800 (13.95%), SSE 50 (6.39%), and CSI 1000 (13.46%) [1] - The A500 ETF by Huatai-PB (563360) is the only product with a scale exceeding 21 billion yuan among all ETFs tracking the CSI A500 Index, demonstrating significant size and liquidity [1] - The A500 ETF has seen net inflows of 710 million yuan over six trading days in the past ten days, bringing its latest share count to 18.329 billion and total scale to 22.182 billion yuan as of September 18, 2025 [1] Group 3 - The A500 ETF closely tracks the CSI A500 Index, which focuses on 500 large-cap, liquid stocks across various industries, with the top five sectors being electronics, power equipment, banking, pharmaceuticals, and non-bank financials, showcasing balanced industry allocation [1] - The A500 ETF and its linked funds have a low fee structure, with management and custody fees at 0.15% and 0.05% per year, respectively, which are among the lowest in the A-share market [2] - As of June 30, 2025, the A500 ETF has achieved a cumulative return of 1.55% for the first half of 2025 and 2.50% since inception, outperforming its benchmark, the CSI A500 Index, which had a return of 0.47% and 19.18% during the same periods [3]

Group 1 - The market has shown renewed strength, with the CSI A500 Index reaching its highest point in nearly three years as of September 11, leading to significant inflows into the Huatai-PB CSI A500 ETF, which saw a net inflow of 994 million yuan on that day, marking a new high since July 1 [1] - The enthusiasm for core asset allocation has been increasing, with the Huatai-PB CSI A500 ETF recording a total trading volume of 4.247 billion yuan over five consecutive trading days from September 5 to September 11, and a cumulative net inflow of 1.157 billion yuan over four consecutive days from September 8 to September 11 [1] - As of September 11, the Huatai-PB CSI A500 ETF's latest scale reached 22.558 billion yuan, making it the only ETF tracking the CSI A500 Index with a scale exceeding 22 billion yuan [1] Group 2 - Global funds are accelerating their return to Chinese assets, with Goldman Sachs reporting the highest net buying of Chinese stocks by global hedge funds since September 2024, and Morgan Stanley indicating that U.S. investors' interest in the Chinese market has reached its highest level since 2021 [2] - The recovery of the Chinese economy, the steady improvement of the technology sector's competitiveness, and the continuous implementation of structural policies are expected to enhance global market confidence in A-share investments [2] - The Huatai-PB CSI A500 Index is anticipated to attract more incremental capital, serving as an important tool for investors to capture opportunities in high-quality leading companies and new productive forces in China [2] Group 3 - The Huatai-PB CSI A500 ETF and its linked funds have adopted a comprehensive low-fee structure, with management and custody fees at 0.15% and 0.05% per year, respectively, which are among the lowest in the A-share market for equity index products [3] - The cumulative net asset value of the Huatai-PB CSI A500 ETF reached 1.2146 yuan, making it one of the few products tracking the CSI A500 Index with a cumulative net asset value exceeding 1.21 yuan [4] Group 4 - The Huatai-PB CSI A500 ETF was established on September 25, 2024, and has achieved a return of 1.55% since inception, outperforming its benchmark, the CSI A500 Index, which had a return of 0.47% during the same period [6] - The Huatai-PB fund management company is one of the first ETF managers in China, with over 18 years of experience in ETF operations, and its non-cash ETF scale exceeds 557 billion yuan, ranking it among the top in the industry [5]

Group 1 - A-shares have experienced a pullback after four months of continuous growth, with increased volatility during the market consolidation period [1] - The CSI A500 Index, which tracks core assets in A-shares, has shown resilience, leading to increased interest in fund allocation [1][2] - The A500 ETF by Huatai-PB has seen net inflows for two consecutive trading days and a significant increase in trading volume, with its latest scale exceeding 20.872 billion yuan [1][2] Group 2 - Recent adjustments in A-shares are attributed to market sentiment fluctuations and structural trading, but the driving forces behind the current upward trend remain intact [2] - Factors supporting the market include supply-side reforms, increased long-term capital inflows from insurance and pension funds, and a potential shift in household asset allocation towards equity assets [2] - The foreign investment in A-shares has also increased, with foreign holdings reaching 2.57 trillion yuan, accounting for 2% of the total market capitalization, indicating growing confidence in China's economic prospects [2] Group 3 - The A500 ETF by Huatai-PB selects 500 securities with large market capitalization and good liquidity, providing broad coverage of core sectors in the Chinese economy [3] - The fund features a low fee structure, with management and custody fees at 0.15% and 0.05% per year, respectively, making it one of the lowest in the A-share market [4][6] - As of September 9, 2025, the cumulative net asset value of the A500 ETF reached 1.1835 yuan, making it one of the few ETFs tracking the CSI A500 Index to exceed this value [5]