China Fund News reporter Li Shuchao
"The sound of firecrackers marks the end of the year." As 2021 officially comes to an end, Xu Qi will be celebrating the new year in 2022.
Among various types of funds in 2021, the scale of equity ETFs has expanded rapidly, with the total scale jumping to 1 trillion. China , E Fund, and Huatai-PineBridge Fund are among the top three. The company's equity ETF management scale has exceeded At the 100 billion mark, China Southern and Cathay Fund are also just "on the brink" of reaching the 100 billion mark.
Among the ETF products, the China Concept Internet ETF is the most popular in 2021. The size of the fund has surged by 26.9 billion against the market. The phenomenon of "the more funds fall, the more they buy" is obvious. The number and scale of new funds have also hit a record high, becoming an equity ETF. The “main force” of market expansion. However, compared with mature market countries, my country's ETF market is still in its early stages of development, and its future development prospects are still optimistic by industry insiders.
1.06 trillion!
The total scale of equity ETFs has reached a new high in the past years
With the update of the net value on December 31, 2021, the scale of the latest equity ETF products has been released.
Wind data shows that as of the end of 2021, there were 575 equity ETFs in the market (statistical stock ETFs and cross-border ETFs), with a total management scale of 1.06 trillion yuan, a record high.
1.06 trillion market size, a surge of 287 billion yuan compared with 2020, a scale increase of nearly 37%; during the same period, the number of products also increased from 298 to 575, a 93% increase in the number of products, and investors have a better layout of the ETF market Rich investment tools.
In fact, since the establishment of my country's first stock ETF product, China Securities SSE 50 ETF, in 2004, the domestic equity ETF market has continued to develop and grow, reaching the 100 billion mark for the first time in 2012. However, the scale of equity ETFs has grown overall. It will be affected by the fluctuations of the stock market. For example, during the huge stock market earthquakes in 2008 and 2015, the scale of this type of product shrank for a time.
However, during the bear market in 2018, equity ETFs were bucked by investors who "buy more as they fell". The scale of such products increased by 66% that year despite the market trend. Then in 2019, regulators vigorously advocated the development of equity funds, including equity funds. Equity bases including ETFs Jin ushered in great development, and reached three major steps in the following three years from 2019 to 2021: in 2019, the scale exceeded 500 billion yuan, in 2020, it exceeded 770 billion yuan, and in 2021, it stood firmly at the 1 trillion mark, achieving this goal A milestone and leap-forward development of similar products.
ChinaAMC, E Fund, and Huatai-PineBridge are among the top three
Southern China and Cathay Fund are aiming for 100 billion
In the 1.06 trillion equity ETF market, the market shares of various fund managers have shown significant differentiation. According to
data, as of the end of 2021, China Asset Management has 57 equity funds, with a total management scale of 245.3 billion yuan and a market share of 23%, ranking first in the market. E Fund ranked second, with a scale of 128.6 billion yuan during the same period, and its development momentum was also very rapid; the scale of Huatai-PineBridge Fund's equity ETF products also exceeded the 100 billion yuan mark, reaching 104.4 billion yuan, ranking first in the entire market Three.
In addition to the above three billion-dollar giants, the scale of equity ETFs under Southern China and Cathay Fund also exceeds 90 billion yuan, and they will launch a sprint to the "100-billion club".
In addition, the total scale of equity ETFs under Huabao, Guangfa, Tianhong , Harvest , and Huaan Fund also exceeds 36 billion yuan, and they are also among the top ten in the industry.
While the equity ETF market has developed greatly and strongly exceeded the trillion mark, the polarization of the market has become increasingly obvious. The top ten fund managers currently manage equity ETFs with a total scale of 877.9 billion yuan, accounting for 83% of the market. In sharp contrast, there are 26 fund managers whose total management scale of similar products is less than 10 billion, 14 managers even have less than 200 million, and the development of this market is relatively lagging behind.
The number of tens of billions of funds has increased to 24.
Tens of billions of funds are expected to continue to expand.
With the total scale exceeding the historical threshold of one trillion, the number of equity ETF tens of billions of funds is also expanding. Data from
shows that as of the end of 2021, the number of tens of billions of funds in the equity ETF market has reached 24, an increase of 6 from the end of 2020.
Among them, the latest scale of China Securities SSE 50 ETF reached 69.2 billion yuan, approaching the 70 billion yuan mark, ranking first in the entire market. Huatai-PineBridge Shanghai-Shenzhen 300 ETF and Southern China Securities 500 ETF followed closely, and their scales also stood at the 50 billion yuan mark.
In addition to the broad market broad-based index, industry ETFs are also rising rapidly. Cathay Fund's securities ETF and E Fund China Concept Internet ETF both exceeded 30 billion yuan in the same period, and they also gained the favor of funds.
Looking at fund companies, China Asset Management is the biggest winner among the tens of billions of funds. Among the 24 tens of billions of funds, China Asset Management has 8 exclusive seats, reaching one-third of the market share. Among them, SSE 50ETF, Hang Seng ETF, 5GETF, chip ETF, China A50 ETF, etc. are all tens of billions flagship products of China Asset Management.
E Fund also has 4 public offerings that have entered the ranks of tens of billions of funds, namely China Concept Internet ETF, GEM ETF E Fund, Science and Technology Innovation Board 50 ETF, and Shanghai and Shenzhen 300 ETF E Fund.
Huatai-PineBridge and Cathay Fund each have three products that are tens of billions of funds. The brokerage ETFs and medical ETFs of Huabao Fund are also among the tens of billions of products.
In addition, in addition to the above-mentioned tens of billions of funds, the latest management scale of Guolian Semiconductor ETF, Huabao Bank ETF, Huaxia New Energy Vehicle ETF, E Fund China A50 ETF and other products has exceeded 9 billion yuan. As the future equity ETF market continues Expansion, investment opportunities in sub-sectors continue to emerge, and the number of tens of billions of funds is expected to continue to expand.
China Concept Internet ETF is the most popular
Against the market, the scale surged by 26.9 billion yuan
Judging from the scale changes in the past year, 2 In 2021, the equity ETF with the largest increase in scale was the China Concept Internet ETF, which increased by 26.9 billion yuan in one year. Although the fund fell by nearly 40% that year, the funds were "the more they fell, the more they bought." This product also From a fund of 5.5 billion yuan, it exceeded 30 billion yuan in one fell swoop.
Similar to this fund, there are also medical ETFs, consumer ETFs, wine ETFs, Hang Seng ETFs, etc. in 2021. The more they fall, the more they buy. There are obvious signs of funds going against the trend to buy the bottom , although the above sectors currently lack obvious funds. rebounded, but funds accumulated more chips at the relative bottom of the price.
Another type of product that is growing more is the CSI 500 ETF, dividend ETF, photovoltaic ETF, coal ETF, etc., which have a money-making effect. These products have emerged from an independent trend in the structural market and have achieved good money-making effects. Product scale has also experienced significant growth.
In addition, under the expectation that the market will switch between large and small cap styles at the end of 2021, Shanghai 50, Shanghai and Shenzhen 300ETF and other large-cap products have also received net purchases of funds, and are also at the forefront of the scale growth list.
Contrary to the above-mentioned scale growth list, most of the products that will shrink in scale in 2021 are the top-growing varieties. Data from
shows that China Asset Management Fund's 5GETF and chip ETF, and Boshi Fund's centrally regulated ETF are all at the top of the capital outflow list, and the above-mentioned funds have all achieved good positive returns in the volatile market.
In addition, products such as the central enterprise reform ETF, chip ETF, GEM ETF E Fund, etc. also have the phenomenon of fund increase among the top, but the net redemptions also increase. The trading characteristics of "the more they rise, the more they sell" are more obvious.
In response to the above changes, a medium-sized public fundraiser in Beijing said that as an instrumental product for investors to lay out the market, equity ETFs have the trading characteristics of "the more they rise, the more they sell, and the more they fall, the more they buy." This is a manifestation of investors' rational investment. , you can be safe at the high point of the market or industry segment, and increase investment at the low point, which can increase the chance of investment profit. The trading feature of equity ETFs also helps to calm market fluctuations and plays an important role as a "stabilizer" in the capital market.
The total scale of new funds is 185.7 billion yuan
It has also hit a record high in history
In the great development of equity funds in recent years, new funds have played an important role, and 2021 is no exception.
As of the end of 2021, 268 equity ETF products were newly launched that year, with a total fundraising amount of 185.699 billion yuan. Both the number of new funds and the scale of fundraising are the highest ever.
Judging from the proportion of the new scale, among the 287 billion yuan added to the equity ETF market in 2021, new funds accounted for as high as 64.7%. New funds seem to be the "main force" in the growth of this type of product.
Talking about the surge in the scale of new ETFs in my country, a head of the quantitative investment department in Beijing said that first, guided by the policy of vigorously developing equity funds, the domestic ETF market declaration, issuance and establishment are becoming faster and more convenient; Second, the structural market situation in the past two years has been highlighted, and various innovative indexes and industry ETF products can be deployed accordingly; third, ETF tools Equipped with an efficient and convenient trading mechanism, its acceptance among investors continues to increase. By using this investment tool, investors can quickly keep up with the market; finally, the number of stocks currently exceeds 4,600, making stock selection much more difficult. By allocating industry ETFs You can quickly obtain investment opportunities in subdivided tracks. The "stock trading alternative" function of this type of product will also attract funds to buy and invest.
"Compared with the equity ETF market of nearly 5 trillion U.S. dollars in the U.S. market, the share of about 16% in the mutual fund market, and the largest size of a single equity ETF product of more than 350 billion U.S. dollars, my country's equity The scale, proportion and fund size of ETFs are all in the initial stage of development, and there is still a lot of room for development, and the development prospects of the domestic ETF market are still broad,” said the person in charge of the quantitative investment department.
