Group 1 - The Guolian An CSI A500 Dividend Low Volatility ETF was announced for trading on September 15, with institutional investors holding 98.93% of the total shares, amounting to 1.233 billion shares as of September 11 [1] - Among institutional investors, insurance funds emerged as the largest buyers, with China Pacific Life Insurance holding 1.15 billion shares, representing 92.27% of the fund's total shares [3] - The CSI A500 Dividend Low Volatility Index is designed to reflect the performance of 50 securities with high dividends and low volatility, selected from the CSI A500 Index, and is weighted by dividend yield [4] Group 2 - The ETF market has seen significant participation from institutional investors, with over 120 billion shares held by more than 100 corporate pension plans as of June 30, marking an increase of over 24 billion shares since the end of last year [4] - Pension products collectively held over 23 billion shares of ETFs by the end of June, with specific funds increasing their positions in sectors like electric utilities and semiconductors [5] - Insurance asset management products and institutions held over 240 billion shares of ETFs, with significant increases in holdings of the CSI A500 ETF and other technology-related ETFs [5]

其中，保险机构大手笔买入。截至9月11日，"中国太平洋人寿保险股份有限公司一分红一个人分红"持 有国联安中证A500红利低波动ETF11.5亿份，占基金总份额比例高达92.27%。养老金产品、企业年金计 划等长线资金也现身。其中，长江金色交响混合型养老金产品持有国联安中证A500红利低波动ETF1000 万份，中国移动通信集团有限公司企业年金计划同样持有该ETF1000万份。另外，湖北省农村信用社联 合社企业年金计划、江西省农村信用社联合社企业年金计划均持有该ETF500万份。 9月15日，国联安中证A500红利低波动ETF发布的上市交易公告书显示，截至9月11日，险资、养老金产 品、企业年金等机构投资者持有的基金份额为12.33亿份，占基金总份额的98.93%。 ...

Market Performance - On August 18, the three major A-share indices collectively rose, with the Shanghai Composite Index increasing by 0.85% to 3728.03 points, the Shenzhen Component Index rising by 1.73% to 11835.57 points, and the ChiNext Index climbing by 2.84% to 2606.2 points [1] Fund Manager Changes - In the past 30 days (July 19 to August 18), a total of 510 fund managers have left their positions across various funds, with 52 announcements made on August 18 alone [3] - The reasons for the departures include 10 fund managers leaving due to job changes from 26 funds, 2 due to personal reasons from 14 funds, and 5 due to product expirations from 12 funds [3] Fund Manager Profiles - Zhang Xiaonan, managing assets totaling 35.397 billion yuan, has achieved a return of 126.27% on the Invesco Nasdaq Technology ETF during his tenure of 2 years and 190 days [4] - Zhang Shenyuan, with a total asset management of 41.087 billion yuan, has achieved a return of 369.76% on the Fortune CSI Military Industry Index Fund during his tenure of 1 year and 34 days [5] Fund Research Activity - In the past month, Penghua Fund conducted the most company research, engaging with 50 listed companies, followed by Huaxia Fund and Bosera Fund, each with 46 companies [7] - The most researched industry was specialized equipment, with 183 instances, followed by chemical products with 170 instances [7] Recent Stock Research - The most focused stock in the past month was Defu Technology, with 79 fund management companies participating in its research, followed by Zhongchong Co. and Baiya Co. with 71 and 65 companies, respectively [9] - In the past week (August 11 to August 18), Baiya Co. was the most researched stock, with 65 fund institutions involved [8]