在新成立的10只AAA科技创新公司债ETF助力下，截至7月11日全市场债券ETF的数量接近40只，总规 模突破了4000亿元关口。截至目前，一共有18家基金管理人发行过债券ETF，但产品种类和规模占比， 仍有待进一步提升。截至目前，债券ETF在整个ETF中的规模占比不足10%，而债券基金总规模则超过 了6.5万亿元，基础债券市场规模更是有上百万亿之大。(证券时报) ...

Core Viewpoint - The launch of the first batch of 10 Sci-Tech Bond ETFs on July 7 was met with overwhelming demand, indicating a strong market acceptance and recognition of these products, with total fundraising reaching 30 billion yuan per product, totaling 300 billion yuan across all products [1][2][3] Group 1: Market Performance - All 10 Sci-Tech Bond ETFs sold out in one day, with institutional investors being the primary contributors, while retail participation exceeded expectations, with some products attracting 200 million yuan in less than half a day [1][2] - The total scale of bond ETFs reached 390.67 billion yuan as of July 7, nearing the 400 billion yuan mark, and the addition of the new Sci-Tech Bond ETFs will push this total beyond that threshold [1][6] Group 2: Product Features and Advantages - Sci-Tech Bond ETFs offer advantages over traditional credit bond index funds, including better liquidity, lower investment thresholds, and reduced trading costs, making them more accessible to investors [3][5] - The ETFs track a basket of AAA-rated Sci-Tech bonds, effectively diversifying risk and enhancing liquidity compared to investing in single bonds [3][4] Group 3: Future Outlook - The bond market is expected to maintain a bullish trend due to low macro interest rates and supportive policies for Sci-Tech bonds, which could enhance the value of these bonds and the net asset value of the ETFs [7]

继长城基金后，ETF赛道再迎新入局者。 券商中国记者近日从业内获悉，兴证全球基金等数家大型公募正在准备布局ETF。相关公募不仅作出决策，还 就布局产品赛道展开了调研。 这些公募都是业内知名大机构，但为何在此前的ETF浪潮中没有行动，如今才后知后觉？从券商中国记者多方 采访来看，这与各家公司战略定位有关，此前坚守主动权益，如今才意识到了ETF"入场券"的重要性。 但也要看到，ETF虽是"头部游戏"，大公募之间同样存在较大差异。ETF的长足发展，要直面两个根本问题： 一是如何形成稳定持续的利润来源，二是如何找到差异化突围抓手。 "ETF是指数基金中的一种，基金公司布局会在原有基础上进行。无论是普通指数还是指数增强，基金公司会 把做得好的赛道，作为ETF业务的切入点。比如，有些基金公司此前在红利低波上做出了一些规模产品，未来 的ETF布局大概率会从红利低波ETF入手。"华南一家中型公募品牌营销人士对券商中国记者称。 为何现在才加入？ ETF是基金业发展大势所趋，上述提及的公募也都是业内知名公司。市场热议点在于，这些公募在此前的ETF 浪潮中没有行动，如今才后知后觉顶着白热化竞争压力加入？ 从券商中国记者统计情况来看 ...

作为股债联动服务科技创新的重要构成，科创债ETF主要通过跟踪科技创新公司债券指数的表现，为广 大投资者提供参与科创债市场的便捷工具。在同期发行的首批科创债ETF中，嘉实中证AAA科技创新公 司债ETF独具特色。 首先，跟踪跨市场优质指数，底层资产优越。 用指数化投资的ETF配置高评级优质科创债，会产生什么奇妙的投资体验？科创债ETF嘉实或许就是解 答。 7月7日，作为首批科创债ETF之一的嘉实中证AAA科技创新公司债ETF（基金代码：159600，场内简 称：科创债ETF嘉实）开启首发募集。 定期分红评估条款设置清晰。根据募集说明书，基金管理人将在每年3月15日、6月15日、9月15日、12 月15日对基金的可供分配利润进行评价，在符合有关基金收益分配条件的情形下，根据实际情况进行收 益分配。同时，收益分配采用现金分红方式，不仅和机构投资者债基投资习惯相契合，也能较好满足普 通投资者"收蛋"的新风潮。 此外，嘉实中证AAA科技创新公司债ETF也是当前市场上信用债投资低成本、高效率之选。产品合同显 示，产品管理费为0.15%，托管费0.05%，在低利率环境下有利于节约成本、提升收益；产品支持场内 T+0回转交易 ...

Group 1 - The first batch of Sci-Tech Innovation Bond ETFs, specifically the Harvest CSI AAA Sci-Tech Innovation Corporate Bond ETF, is set to begin its initial fundraising on July 7 [1] - The ETF tracks the CSI AAA Sci-Tech Corporate Bond Index, which includes bonds rated AAA and above from technology innovation companies listed on the Shanghai and Shenzhen stock exchanges [1] - The index aims to reflect the overall performance of AAA-rated technology innovation corporate bonds, primarily issued by state-owned enterprises, central enterprises, and high-quality private technology companies [1] Group 2 - As of June 29, the index has shown historical returns of 5.5% for 2023, 6.0% for 2024, and 3.81% for the past year, indicating relatively strong performance [1] - The proposed fund manager, Wang Zhe, has 11 years of financial industry experience, including 8 years in fixed income investment, and has managed various investment products [2] - Wang Zhe emphasizes that the current domestic economic transformation provides a rich and high-quality asset base for Sci-Tech bond investments, with the CSI AAA index having a stronger capacity for future development compared to similar indices [2]

Group 1 - The market has experienced significant structural trends in the first half of the year, driven by policy support and the rise of AI, with themes like humanoid robots, innovative drugs, and new consumption performing well [2] - The average return of 4,434 active equity funds was 6.89% in the first half of the year, excluding newly established funds [2] - Jiashi Fund ranked third among large companies in absolute return for equity funds over the past two years and one year, with over 50 of its products achieving returns exceeding 30% in the past year [2] Group 2 - Jiashi Fund's active equity product, Jiashi Huirong Selected A, achieved a return of 69.56% over the past two years, ranking first among 804 comparable active stock open-end funds [3] - Several Jiashi Fund products, including Jiashi Innovation Pioneer A/C and Jiashi Green Theme A/C, reported returns exceeding 50% in the past year, focusing on core sectors like technology, manufacturing, and new energy [3] Group 3 - Jiashi Fund's "Super ETF" products have performed well in the structural market, with the Sci-Tech Chip ETF (588200) showing a 66.51% increase over the past year [3] - Other ETFs, such as the Hang Seng Medical ETF and Internet ETF, also reported returns exceeding 60% in the same period [3] Group 4 - Jiashi Fund has developed a comprehensive "Sci-Tech Full Jiashi Barrel" series of ETFs targeting high-growth sectors, including various thematic ETFs in the technology industry [4] - The launch of the first batch of Sci-Tech Bond ETFs aims to broaden financing channels for innovative companies and provide a transparent and efficient investment tool for clients [4]

Core Viewpoint - The announcement reveals that the FuGuo CSI AAA Technology Innovation Corporate Bond ETF (159200) will be publicly offered from July 7, 2025, focusing on long-term pure bond investments with a management fee of 0.15% and a custody fee of 0.05% [1] Group 1: Fund Details - The investment objective of the FuGuo CSI AAA Technology Innovation Corporate Bond ETF is to closely track the underlying index while minimizing tracking deviation and error [1] - The fund's investment portfolio will allocate at least 80% of its assets to bond investments, with a minimum of 90% of the fund's net asset value and 80% of non-cash fund assets invested in the underlying index components and alternative components [1] Group 2: Fund Manager Profile - The proposed fund manager for the ETF is Zhang Yang, who holds a master's degree and has extensive experience in investment management, having worked at China Merchants Bank and Ping An Bank before joining FuGuo Fund Management in March 2020 [2] - Zhang Yang has managed multiple funds since joining FuGuo, including the FuGuo Yangtze River Economic Belt Pure Bond Fund and FuGuo Target Qili One-Year Pure Bond Fund [2] Group 3: Performance Metrics - As of now, Zhang Yang manages five funds, with varying performance metrics. For instance, the FuGuo Two-Year Wealth Management Bond A product has a return of 0.42% since January 21, 2025, compared to a peer average of 1.15% [3][4] - The FuGuo Yangtze River Economic Belt Pure Bond A product has achieved a return of 18.36% since August 31, 2020, outperforming the peer average of 16.37% [3][4] - The FuGuo Target Qili One-Year Pure Bond Fund has a return of 15.43% since December 8, 2020, slightly below the peer average of 15.89% [3][4]

业内人士认为，科创债ETF的推出具有重要的战略意义，一方面，将有效发挥公募基金在服务国家战略 和市场资金引导方面的积极作用，填补公募基金在"科技金融"债券基金领域的空白，助力科技强国建 设；另一方面，ETF具有交易成本低、流动性强等特点，科创债ETF通过其高度聚焦的投资主题设计， 吸引各类资金精准投向科创重点领域，为科创企业拓宽融资来源、降低融资成本并提高融资效率。 据悉，此次上交所6只科创债ETF跟踪的中证AAA科技创新公司债指数和上证AAA科技创新公司债指数 由中证指数公司于2023年8月发布，具有代表性强、信用风险低、收益稳健的特点，是优质的被动投资 跟踪标的，两条指数的国企债占比均为99%，债券主体评级均为AAA，信用风险低，近一年成交额分别 为10366亿元和8764亿元。在政策的大力支持下，科创债供给的将持续增加，指数空间有望继续扩容， 流动性将稳步提升。 近年来，指数化投资蓬勃发展，债券ETF作为一类风险低、收益稳的场内产品，较好满足了投资者稳健 型资产配置需求，是指数化投资的重要组成部分。2025年上半年全市场ETF净流入2974亿元，其中债券 ETF净流入1720亿元，9只债券ETF净流入均 ...

今年飞速发展的债券ETF市场，又将迎来重磅创新品类。7月2日，首批10只科创债ETF正式获批， 债券工具型产品市场再添生力军。据悉，鹏华上证AAA科技创新公司债ETF位列其中，后续将在上 交所上市交易。 据了解，此次获批的鹏华上证AAA科技创新公司债ETF主要跟踪上证AAA科技创新公司债指 数。从指数看，上证AAA科技创新公司债指数信用资质高、行业分散、流动性佳，是优质的 跟踪标的。根据中证公布的指数编制方案，该指数筛选所有在上交所上市的科技创新公司债， 要求债券为公募发行、主体评级AAA、隐含评级AA+及以上，不限制债券剩余期限、发行人 企业属性，每月定期调整一次样本，能够较准确地反映上交所AAA科技创新公司债的整体表 现。 近年来，科创债的品种日益丰富、发行规模明显扩容、发行人资质较优、发行结构趋于优化，债券 投资者对科创债的关注度日益提升。展望未来，金融支持科创领域的导向不变，受益于政策支持 +低利率环境+城投寻求融资破局+产业主体融资需求修复，科创债市场的广度和深度有望继续增 加，投资空间广阔。 作为中国公募基金行业的领军者，鹏华基金深度践行金融支持实体经济的使命，积极参与科创市 场的建设，持续加强对 ...

近日，包括嘉实中证AAA科技创新公司债ETF在内的首批科创债ETF产品正式获得证监会批准。这一产 品落地，标志着我国债券市场"科技板"建设取得实质性突破，为投资者参与科技创新领域投资提供了新 工具。 具体到科创债的投资机会，在当前国内经济转型升级的关键阶段，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，叠加国际环境复杂多变对出口的阶段性影响，嘉实基金表 示，未来利率水平或将总体保持低位运行，债券市场有望延续牛市格局；信用债整体呈现"利差优势 +票息保护"的双重特征，科创债作为国家战略支持品种，产品空间广阔，其投资价值进一步凸显。 嘉实基金深耕债券研究与投资，拥有全行业成立最早、覆盖最全的信用研究团队。20余位信用研究员采 用A/B角双评估机制，将信用债按风险划分为1-12级，建立了严谨的信评体系，力争为科创债ETF的稳 健运作提供有力保障。 MACD金叉信号形成，这些股涨势不错！ 责任编辑：石秀珍 SF183 据了解，嘉实中证AAA科技创新公司债ETF跟踪标的为中证AAA科创公司债指数。该指数采用严格筛 选标准，从沪深交易所上市的科技创新公司债中精选主体评级为AAA、隐含评级AA+及 ...