Core Viewpoint - The issuance of the first batch of 10 Sci-Tech Bond ETFs marks a significant development in the public fund sector, providing new channels for both individual and institutional investors to efficiently invest in Sci-Tech bonds, thereby supporting China's technological innovation efforts [1][2]. Group 1: Issuance Details - The first batch of Sci-Tech Bond ETFs, including those from GF Fund Management, was issued on July 7, with the fundraising completed in one day, indicating strong market interest [1]. - The rapid approval and issuance of these products, from approval on July 2 to issuance on July 7, reflect the high regard market participants have for this innovative product [1]. Group 2: Investment Focus - The first batch of Sci-Tech Bond ETFs tracks indices such as the Shanghai AAA Sci-Tech Innovation Company Bond Index, which includes bonds rated AAA and above, ensuring high credit quality [2]. - As of June 30, the Shanghai AAA Sci-Tech Company Bond Index had a total scale exceeding 850 billion, with state-owned enterprises accounting for over 99% of the index [2]. - The index has shown strong performance, with a net value increase of 14.20% since its base date, outperforming the 9.93% increase of the Wind Medium to Long-term Pure Bond Index during the same period [2]. Group 3: Characteristics of Sci-Tech Bond ETFs - The ETFs have three main characteristics: low fees and thresholds, allowing small investments in the high-threshold Sci-Tech bond market, thus reducing trading costs [3]. - They provide risk diversification by tracking a basket of AAA-rated Sci-Tech bonds, mitigating the potential impact of any single bond's default on the fund's net value [3]. - The ETFs offer liquidity advantages, as they can be traded on the secondary market like stocks, with market makers providing two-way quotes to enhance trading efficiency [3].

公告显示，广发基金旗下科创债ETF广发（认购代码：511123，场内代码：511120）今日（7月7日）正 式发售，首次募集规模上限30亿元，超额认购将启动"末日比例确认"机制。作为资本市场服务科技创新 的重磅工具，该产品填补了场内科技金融债券基金的空白，为个人和机构投资者提供高效布局科创债的 新通道。 该ETF跟踪上证AAA科技创新公司债指数，从沪市科创债中筛选主体评级AAA、隐含评级AA+及以上 的债券。截至6月30日，指数成分券规模超8500亿元，央国企占比99%以上，信用资质优异，策略容量 大且具备持续扩容空间。 Wind数据显示，截止2025年7月3日，自2022年6月30日基日起，该指数净值增长14.39%，显著跑赢同期 万得中长期纯债型指数（10.02%），展现较强收益弹性。 科创债是落实"金融五篇大文章"的核心工具。2025年5月，央行与证监会联合发文支持科创债发行，6月 陆家嘴论坛上证监会明确要求"加快推出科创债ETF"，政策红利持续释放。Wind数据显示，截至5月 末，科创债存量规模达1.13万亿元，较2024年末增长24%，其中AAA评级占比97%，央国企发行主体占 98%。 国泰海通证 ...