[Epoch Times, December 06, 2021]Affected by the continuous volatility of the Chinese market, since November, many funds have announced an extension of the fundraising period, including many trading open-end index funds (ETFs).
According to a recent report by the Financial Associated Press, at the beginning of December, there have been four extensions of the fundraising period. Among them, three funds issued an announcement on the extension of the fundraising period on the same day on December 2.
BOC Core Select A will extend the original collection deadline from December 17 to December 24; China Merchants China Securities Internet of Things themed ETF will extend the fundraising deadline to December 9; China Smart Win Pioneer A will raise the deadline Extend to December 17. Changjiang Zhihui’s 30-day rolling holding of short-term debt A also announced an extension of the fundraising period at the beginning of the month.
Ping An Fund announced on December 3 that it will change the fundraising period of its Ping An China Securities Hong Kong Stock Connect Medical and Health Integrated ETF from September 30 to December 3 to September 30 to December 10. From the time point of view, it is equivalent to extending the recruitment period by one week. On the same day, Penghua Hong Kong Stock Connect Technology ETF extended the offer period to December 7.
“China Fund News” reported on the 5th that industry analysts said that the increasing difficulty of ETF issuance is on the one hand affected by the continuous market turbulence, and on the other hand, it is related to product design and the pace of issuance.
A public offering person in South China said, “The main sales channel of ETF products is brokerage, so they are more sensitive to the market. When the market is good, ETF products can be sold out in one day, and positions will be quickly established and listed. However, once the market sentiment changes Cooling down, this kind of fund sales end close to the market will soon cool down. In fact, since the fourth quarter, many ETF fund managers have been very cautious in opening positions, and even short positions have been listed. This also reflects that ETF funds are’not easy to sell’. , The pressure on fund managers and channels is relatively high.”
Wind data shows that since November, a total of 32 new fund products have announced an extension of the fundraising period. In addition, the data also shows that the number of funds that have recently extended the fundraising period is also gradually increasing, with 29 funds in October, 28 funds in September, and 18 funds in August.
From the perspective of the types of funds that have issued extension announcements. Since November, among the 32 funds that have extended the offering period, there are 3 pure debt funds, 4 partial debt hybrid funds, 8 index funds, and 12 active equity funds (partial stock hybrid, common stock, Balanced mixed type, flexible configuration type), 5 other types of funds.
From the perspective of the fund companies to which the Extended Offering Fund belongs, 8 are the top ten companies (ranked by the scale of non-monetary funds at the end of the third quarter), 15 are “waist” companies with a scale of more than 100 billion yuan in non-monetary funds, and 9 Only belongs to small and medium companies.
Editor in charge: Li Bing#
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