Group 1 - The core viewpoint of the news highlights the rapid development of China's scientific research and innovation capabilities, with significant growth in high-end manufacturing sectors such as smart devices, electronic components, industrial robots, and new energy vehicles, many of which have growth rates exceeding 20% [3] - The latest scale of the Science and Technology Innovation Bond ETF managed by Bosera reached 10.023 billion yuan [3] - The Science and Technology Innovation Bond ETF closely tracks the Shanghai Stock Exchange AAA Technology Innovation Company Bond Index, which reflects the overall performance of technology innovation company bonds listed on the exchange [4] Group 2 - The liquidity of the Science and Technology Innovation Bond ETF is indicated by a turnover rate of 0.83% and a transaction volume of 82.9437 million yuan during the trading session [3] - Over the past month, the average daily transaction volume of the Science and Technology Innovation Bond ETF was 2.735 billion yuan [3] - Institutional research suggests that the future of Science and Technology Innovation Bonds remains promising, as they can balance traditional bank lending and emerging capital markets, thereby supporting technological innovation [3]

Core Viewpoint - The article highlights the significant rise of the Shanghai Composite Index, surpassing 3800 points, marking a historical high since August 2015, which injects strong confidence into the market [1] Group 1: Technology Sector Dynamics - The hard technology sector, including artificial intelligence, chips, and large model computing power, has become the core engine of the current market rally, with notable companies like Cambricon Technologies reaching a market value of over 580 billion yuan [2] - The current phase is characterized by a shift from "early layout" to "explosive realization," indicating a significant improvement in industry maturity and a transition from a "catch-up" phase to a "leading" phase in China's technology industry [2] - The core drivers for the technology sector's growth by 2025 are identified as "policy precision, technological independence, and visible profitability," suggesting a stronger and more differentiated market compared to previous cycles [2] Group 2: Fund Management Strategies - Fund managers are focusing on solid internal capabilities to navigate the complex investment opportunities in the booming technology sector, with BoShi Fund leveraging its strong research platform and quantitative team to capture market trends [3] - BoShi Fund has proactively launched a series of flagship products, including AI ETFs and technology indices, to create a comprehensive investment product matrix covering the entire technology industry chain [3][4] Group 3: Investment Performance and Growth - Since the establishment of the Science and Technology Innovation Board in 2019, it has nurtured 586 hard technology companies, raising 925.7 billion yuan, with a total market value of 74,217.35 billion yuan [4] - BoShi Fund's technology-related equity products have seen a significant increase, with the number of products growing by 218% since 2019, now accounting for over 50% of the company's total equity products [7] - The performance of BoShi's technology-focused funds has been strong, with the Science and Technology Chip ETF showing a net value growth of 62.19% since its inception, outperforming its benchmark [11] Group 4: AI Integration in Investment Research - BoShi Fund has initiated an "AI + Investment Research" strategy to enhance research efficiency and decision-making accuracy, establishing an AI laboratory to integrate AI technology into various aspects of investment management [12][13] - The investment research team has adopted a tiered research mechanism to track rapid changes in the technology sector, ensuring comprehensive coverage of key technology stocks [12] - The introduction of AI in investment decision-making has improved information aggregation and risk management, enhancing the overall operational compliance of the fund [13][14]

Core Viewpoint - In a low-interest-rate environment, bond ETFs have gained popularity among investors due to their relatively low volatility, with the total scale of bond ETFs exceeding 500 billion yuan as of August 21, 2025 [2][3]. Group 1: Performance of Bond ETFs - The total scale of five bond ETFs under Bosera Fund has surpassed 100 billion yuan, with the convertible bond ETF exceeding 57 billion yuan [4][6]. - The Bosera Convertible Bond ETF (511380) has achieved a cumulative return of 24.02% since its inception until Q2 2025, outperforming its benchmark return of 22.79% and the CSI Convertible Bond Index's 21.29% [6]. - The 30-Year National Bond ETF (511130) has seen its scale grow to over 170 billion yuan, a remarkable increase of over 450% from 29.87 billion yuan at the beginning of the year, with a cumulative return of 15.52% [8]. Group 2: Diverse Product Offerings - Bosera Fund offers a diverse range of bond ETFs, including the 30-Year National Bond ETF, Credit Bond ETF, and Sci-Tech Bond ETF, all of which have surpassed 100 billion yuan in scale [4][8]. - The Credit Bond ETF (159396) focuses on medium to high-grade bonds listed on the Shenzhen Stock Exchange, achieving a scale of over 114 billion yuan and a return of 12.01% since its inception [9]. - The National Development Bank ETF (159650) has shown a cumulative return of over 36.34% over the past decade, outperforming the comprehensive bond index by 12.76% [10]. Group 3: Strategic Innovations and Market Position - Bosera Fund has continuously innovated to capture market opportunities, with its products being recognized as qualified collateral for general pledged repurchase, enhancing liquidity [9]. - The bond ETFs are designed to provide low credit risk and good liquidity, making them attractive to investors seeking stable returns in a volatile market [12]. - The management fees for Bosera's bond ETFs are as low as 0.15% per year, and the custody fees are as low as 0.05% per year, which helps investors save on transaction costs [12].

Core Viewpoint - The bond ETF market is experiencing significant growth, with BoShi Fund's bond ETFs reaching a total scale of over 100 billion yuan, providing diverse investment tools for investors in a low-interest-rate environment [1][2]. Group 1: BoShi Fund's Bond ETFs - BoShi Fund has five bond ETFs, including convertible bond ETF, 30-year government bond ETF, credit bond ETF, sci-tech bond ETF, and national development bond ETF, with a total scale exceeding 100 billion yuan [1][2]. - The convertible bond ETF has a scale surpassing 570 billion yuan, showcasing rapid growth due to effective management and broad industry coverage [1][2]. - The 30-year government bond ETF has also seen substantial growth, with its scale increasing from 29.87 billion yuan at the beginning of the year to over 170 billion yuan, reflecting a growth rate of over 450% [2]. Group 2: Performance Metrics - The convertible bond ETF has achieved a cumulative return of 24.02% since its inception, outperforming its benchmark return of 22.79% and the performance of the CSI Convertible Bond Index and Shanghai Composite Index [1][2]. - The 30-year government bond ETF has a cumulative return of 15.52%, slightly above its benchmark of 15.38% [2]. - The sci-tech bond ETF has a yield of 14.48%, significantly higher than the Shanghai Composite Index and the CSI 300 Index [3]. Group 3: Market Trends and Investor Preferences - In recent years, the demand for low-risk investment products has increased, leading to a favorable environment for bond ETFs, which offer lower volatility and stable returns [4][5]. - The national development bond ETF has shown a cumulative return of over 36.34% over the past decade, outperforming the comprehensive bond index [4]. - BoShi Fund's bond ETFs are designed to provide investors with a diversified asset allocation strategy, enhancing their investment experience [5].

Group 1 - The core viewpoint of the news highlights the performance and market activity of the Science and Technology Innovation Bond ETF (科创债ETF博时), indicating a strong trading volume and significant growth in fund size [2][3] - As of August 17, the total scale of the first batch of 10 Science and Technology Innovation Bond ETFs reached 1161.25 billion yuan, marking it as the second category of bond ETFs to exceed 1000 billion yuan after the benchmark market credit bond ETFs [2] - The latest scale of the Science and Technology Innovation Bond ETF (博时) is reported to be 99.96 billion yuan, with a notable increase in shares by 26.47 million in the past month, ranking it in the top third among comparable funds [2][3] Group 2 - The fund has demonstrated a weekly profit percentage of 60.00% since its inception, with a maximum drawdown of 0.53%, which is relatively low compared to the benchmark [3] - The management fee for the Science and Technology Innovation Bond ETF is 0.15%, and the custody fee is 0.05%, making it the lowest among comparable funds [3] - The fund closely tracks the Shanghai Stock Exchange AAA Technology Innovation Company Bond Index, which reflects the overall performance of eligible bonds listed on the exchange [3]

Group 1 - The core viewpoint of the news is the positive policy direction conveyed at the Lujiazui Forum, focusing on the development of the sci-tech bond market and the introduction of a sci-tech bond ETF to support technological innovation in the capital market [1][3] - The launch of the sci-tech bond ETF by Bosera Fund is a significant step in filling the gap in the bond ETF category, with the bond ETF market experiencing substantial growth, reaching a total scale of 218.13 billion yuan as of the first quarter, a quarter-on-quarter increase of over 20% [3][4] - The sci-tech bond ETF closely tracks the CSI AAA Sci-Tech Innovation Company Bond Index, which has a market value exceeding 800 billion yuan as of June 23, indicating good liquidity and a diversified sample of bonds [4][6] Group 2 - The cumulative return of the CSI AAA Sci-Tech Innovation Company Bond Index reached 14.11% from its base date of June 30, 2022, outperforming the long-term pure bond fund index return of 10.22% [4][6] - The sci-tech bond ETF is expected to attract long-term funds from institutional investors such as social security funds and pension funds, aligning with the increasing liquidity of the underlying bonds [3][6] - Bosera Fund emphasizes the high configuration value of the sci-tech bond ETF, which offers lower investment thresholds and advantages in liquidity, trading convenience, and fee structure compared to direct investment in sci-tech bonds [4][6] Group 3 - The introduction of the sci-tech bond ETF marks Bosera Fund's second bond ETF launched this year, following the credit bond ETF that recently surpassed a scale of 10 billion yuan, showcasing the company's capability in product development [7][8] - Bosera Fund has established a comprehensive bond index product system covering various types of bonds, with a total of 11 products, providing investors with a panoramic investment tool [7][8] - The company is committed to supporting the rise of technology in China, continuously developing sci-tech themed fund products to enhance the financing tools for sci-tech enterprises and contribute to high-quality financial development [6][7]

Group 1 - The core viewpoint of the news highlights the performance and liquidity of the Kexin Bond ETF Boshi, which has seen an increase of 0.18% to a latest price of 99.68 yuan as of July 31, 2025 [3] - The Kexin Bond ETF Boshi has experienced a significant trading volume with a turnover rate of 39.02% and a transaction value of 3.724 billion yuan, indicating active market participation [3] - As of July 30, 2025, the Kexin Bond ETF Boshi has achieved an average daily transaction volume of 2.206 billion yuan over the past year, reflecting strong investor interest [3] Group 2 - The central budget investment of 735 billion yuan for the year has been largely allocated, focusing on projects in modern industrial systems, infrastructure, urbanization, and green development, which may boost physical demand in the third and fourth quarters [3] - The Kexin Bond ETF Boshi has seen a notable scale increase of 3.982 billion yuan over the past two weeks, ranking it in the top third among comparable funds [4] - The latest share count for the Kexin Bond ETF Boshi reached 95.7541 million, marking a new high since its inception [4] Group 3 - The Kexin Bond ETF Boshi has recorded a net inflow of 994,600 yuan recently, with a total of 6 out of the last 10 trading days showing net inflows, amounting to 6.583 billion yuan in total [4] - The maximum drawdown since inception for the Kexin Bond ETF Boshi is 0.39%, with a relative benchmark drawdown of 0.08% [4] - The management fee for the Kexin Bond ETF Boshi is 0.15%, and the custody fee is 0.05%, which are the lowest among comparable funds [4] Group 4 - The tracking error for the Kexin Bond ETF Boshi this year is 0.026%, indicating high tracking precision compared to similar funds [5] - The ETF closely tracks the Shanghai Stock Exchange AAA Technology Innovation Company Bond Index, which reflects the overall performance of eligible bonds from technology innovation companies listed on the exchange [5]

Core Viewpoint - The recent statistics indicate a significant increase in the underwriting of Sci-Tech bonds, with a notable rise in participation from securities firms and a substantial growth in the total underwriting amount, reflecting a shift in investment preferences towards high-grade credit bonds amid a low-interest-rate environment [3][4]. Group 1: Market Performance - As of July 28, 2025, the Sci-Tech Bond ETF by Bosera (551000) rose by 0.03%, with the latest price at 99.65 yuan [3]. - The trading volume for the Sci-Tech Bond ETF reached 91.29 million yuan, with a turnover rate of 0.96% [3]. - The average daily trading volume over the past year was 2.643 billion yuan [3]. Group 2: Underwriting Statistics - In the first half of 2025, 68 securities firms participated in the underwriting of Sci-Tech bonds, an increase of 23 firms year-on-year [3]. - The total underwriting amount for Sci-Tech bonds was 381.391 billion yuan, representing a year-on-year increase of over 50% [3]. Group 3: Investment Trends - The current low-interest-rate environment has led to a scarcity of high-grade credit bonds, creating an "asset shortage" for institutional funds [3]. - The Sci-Tech Bond ETF is viewed as a premium choice for institutional investors due to its policy support and higher coupon yields [3]. - The ETF's tool-like characteristics cater to the needs of patient capital such as social security and pension funds for efficient portfolio adjustments [3]. Group 4: Fund Characteristics - The latest scale of the Sci-Tech Bond ETF by Bosera is 9.556 billion yuan [3]. - The fund experienced a net outflow of 199,300 yuan recently, but had a total inflow of 2.191 billion yuan over the past five trading days [4]. - The maximum drawdown since inception is 0.36%, with a relative benchmark drawdown of 0.08% [4]. - The management fee is 0.15% and the custody fee is 0.05%, making it one of the lowest in its category [4]. - The tracking error for the year to date is 0.029%, indicating high tracking precision compared to similar funds [4].

Summary of ETF Fund Flows Core Insights - On July 21, 2025, a total of 263 ETFs experienced net inflows, while 458 ETFs saw net outflows, indicating a significant disparity in investor sentiment towards different funds [1][3]. Net Inflows - 34 ETFs had net inflows exceeding 100 million yuan, with notable inflows into the following funds: - Kexin Bond ETF by Bosera: 2.183 billion yuan - Hong Kong Stock Connect Internet ETF by Fuguo: 965 million yuan - Hong Kong Securities ETF by E Fund: 624 million yuan - Infrastructure 50 ETF by GF: 592 million yuan - Hong Kong Stock Connect Non-bank ETF by GF: 577 million yuan [1][3]. Net Outflows - 23 ETFs experienced net outflows exceeding 100 million yuan, with significant outflows from: - CSI 1000 ETF: 433 million yuan - Gold ETF: 270 million yuan - CSI A500 ETF by Invesco: 258 million yuan - Huashang Tianyi ETF: 229 million yuan - CSI 300 ETF: 202 million yuan [1][5]. Continuous Inflows - 122 ETFs have seen continuous net inflows, with the top performers being: - CSI 2000 Enhanced ETF: 211 million yuan over 16 days - Hong Kong Dividend Low Volatility ETF: 384 million yuan over 14 days - Hang Seng Dividend Low Volatility ETF: 913 million yuan over 14 days - Hong Kong Stock Connect Non-bank ETF: 3.651 billion yuan over 14 days - Trading Money Market ETF: 20.83 million yuan over 14 days [1][7]. Continuous Outflows - 285 ETFs have experienced continuous net outflows, with the largest outflows from: - CSI A50 Index ETF: 826 million yuan over 28 days - CSI A500 ETF: 1.534 billion yuan over 25 days - CSI A50 ETF: 912 million yuan over 25 days - A500 ETF Index: 610 million yuan over 24 days - Digital Economy ETF by ICBC: 389 million yuan over 24 days [1][9]. Recent Trends - Over the past 5 days, 97 ETFs have seen cumulative net inflows exceeding 100 million yuan, with the top inflows from various Kexin Bond ETFs totaling 1.132 billion yuan, 1.105 billion yuan, and others [1][10]. - Conversely, 102 ETFs have experienced cumulative net outflows exceeding 100 million yuan, with the largest outflows from the ChiNext ETF totaling 2.592 billion yuan [1][10].

Group 1 - The first batch of 10 Sci-Tech Bond ETFs was listed on July 17, 2025, indicating strong market interest in this product [2] - The latest price of the Sci-Tech Bond ETF Bosera is reported at 100.1 yuan, with a trading volume of 1.189 billion yuan and a turnover rate of 39.58% [2] - The current scale of the Sci-Tech Bond ETF Bosera reached a new high of 3 billion yuan, ranking in the top third among comparable funds [2] Group 2 - The management has encouraged the issuance of long-term bonds, with the People's Bank of China and the China Securities Regulatory Commission creating a risk-sharing tool for long-term bond issuance [2] - The daily profit percentage of the Sci-Tech Bond ETF Bosera since its inception is 60.00% as of July 16, 2025 [2] - The management fee for the Sci-Tech Bond ETF Bosera is 0.15%, and the custody fee is 0.05%, making it the lowest among comparable funds [2]