News from the Financial Associated Press on January 24 (Reporter Liu Chaofeng)In recent years, the ETF market has developed rapidly, and more than 30 “big Mac” ETFs with a scale of tens of billions have emerged. As an instrumental investment product for deploying A-shares, the ETF track has long slopes and thick snows, and has attracted more and more attention from institutional investors and fund managers.
As of the end of 2022, there are a total of 284 ETFs in Shenzhen, with a total market value of 354.674 billion yuan, accounting for 90.13% of the total fund size of the Shenzhen Stock Exchange. Among them, the largest ETFs in the Shenzhen market with more than 10 billion yuan are the Shanghai and Shenzhen 300 ETFs, ChiNext ETFs, and chip ETFs.
Compared with the heavy volume of transactions in November, December contracted month-on-month, and funds frequently traded bond ETFs, especially ETFs that track the CDB Bond Index. In December, the net subscription shares of Nasdaq ETFs and Hong Kong Stock Connect Internet ETFs ranked the top two among Shenzhen ETFs.
Shanghai-based investors trade ETFs most often. In terms of individual customers, the Xiangcai Securities business department took the lead. In December, the ETF turnover of individual customers was far ahead, ranking first in Shanghai; in terms of institutional customers, the ETF turnover of the Orient Securities business department was the highest.
From the perspective of securities companies, in December, the top three ETFs held by brokerage business in Shenzhen are Guotai Junan Securities, GF Securities and CITIC Securities; The transaction volume of the year ranked first, and the number of accounts trading Shenzhen ETFs was also the largest.
Funds frequently trade bond ETFs
In December, the scale of Shenzhen ETFs grew steadily. According to the data of the Shenzhen Stock Exchange, as of the end of December 2022, there are a total of 585 fund products on the Shenzhen Stock Exchange, with a total asset management scale of 393.514 billion yuan. Among them, there are 284 ETFs with a total market value of 354.674 billion yuan and a total share of 314.652 billion shares.
As for the ETF itself, different from the month-on-month increase in the size and turnover of ETFs in November, it gradually stabilized and was relatively differentiated in December, with the scale rising and falling.
As of the end of December, the total size of the Shanghai-Shenzhen 300 ETF was 20.997 billion yuan, ranking first in the Shenzhen Stock Exchange; the scale of ChiNext ETFs has dropped since breaking the historical record last month, and the ranking has fallen to second; the scale of chip ETFs has also increased month-on-month, ranking No. third.These three ETF products all exceed 20 billion, and there are 8 ETFs with a scale of more than 10 billion in Shenzhen.
After experiencing a heavy volume of transactions last month, the turnover of Shenzhen ETFs shrank in December. In December, the total turnover of Shenzhen ETFs reached 586.847 billion yuan, a slight decrease of 3.24% from November, and the main transaction contribution came from stock ETFs. In December, the turnover of stock ETFs reached 433.01 billion yuan, a decrease of 13.92% from the previous month. The scale of stock ETFs also accounts for as high as 90% of the Shenzhen ETFs.
Specific to a single ETF, funds frantically poured into bond ETFs in December. The turnover of CDB bond ETFs reached 73.309 billion yuan in the month, ranking first in the turnover of ETFs in Shenzhen. CDB Bond enjoys the title of “quasi-government bond” and has the advantages of high credit rating, large volume, and good liquidity. The CDB Bond ETF is tracking the China Bond-1-5 Year CDB Bond Index. The index constituent bonds include Policy bank bonds with a maturity of 0.5 to 5 years (including 0.5 years and 5 years) publicly issued by China Development Bank and listed on the market. In addition, the CDB ETF also ranked third with a turnover of 44.347 billion yuan in December; the China Internet ETF, which had the largest turnover last month, fell to the second place, with a turnover of only 46.946 billion yuan in December, a slight decline from the previous month. .
In addition, ETFs that track broad-based indexes are still very popular among investors. In December, the turnover of 1000 ETFs, CSI 1000 ETFs, CSI 1000 Index ETFs, and ChiNext ETFs all exceeded 20 billion yuan.
From the perspective of net subscription amount, the net subscription amount of Nasdaq ETF in December reached 3.197 billion yuan, the net subscription amount of Hong Kong Stock Connect Internet ETF was 1.817 billion yuan, and the net subscription amount of chip ETF was 1.56 billion yuan. Only the above three ETFs had a net subscription of more than 1 billion yuan in the month.
Xiangcai Securities has the highest ETF turnover for individual clients
The Shenzhen Stock Exchange has calculated the proportion of ETF turnover of each securities business department (divided into individual and institutional customers), and the proportion of turnover is the proportion of the total ETF turnover of individual clients of all securities brokerage business. In other words, the higher the proportion of ETF turnover in a sales department in the current month, it also means the higher the ETF turnover in the current month.
In terms of individual customers, the Shenzhen Stock Exchange has ranked the turnover of individual customers in the ETF brokerage business in major cities in December, and Shanghai, Beijing, Shenzhen, and Lhasa are far ahead.
From the perspective of the ETF turnover of individual clients of the brokerage business of the sales department of securities companies, in December, the ETF turnover of individual clients of the sales departments of Shanghai, Lhasa, and Foshan was the highest, and these three cities have long been ranked among the top three in the country. In addition, Meizhou, Beijing, Shannan, Guangzhou, Chongqing, Hangzhou, Fuzhou and many other places were on the list.
Specific to each securities business department, the Xiangcai Securities business department in Shanghai is still far ahead in terms of ETF turnover for individual clients; the business departments with the highest ETF turnover for individual clients in Lhasa and Foshan are from Orient Fortune Securities and Orient Securities respectively.
According to statistics from the Shenzhen Stock Exchange, in December, Xiangcai Securities, Orient Fortune Securities, Huabao Securities, Orient Securities, GF Securities, Galaxy Securities and other brokerage business departments accounted for a relatively high proportion of ETF turnover among individual customers.
From the perspective of institutional customers, the Shenzhen Stock Exchange has compiled statistics on the turnover of ETF brokerage institutional customers in major cities in December, among which Shanghai, Shenzhen, Ningbo, and Beijing are far ahead.
From the perspective of the ETF turnover of brokerage business individual clients of the securities business department, in December, the three cities with the highest ETF turnover of institutional clients of the securities business department were Shanghai, Shenzhen, and Ningbo. There are many institutional investors in ETFs, including insurance, banks, brokerages, public and private equity, and so on. Shanghai, Shenzhen, and Ningbo are all important cities for private placement. According to the data from the China Foundation Association, as of the end of December last year, Shanghai, Shenzhen, and Ningbo had a management scale of 5.05 trillion yuan, 2.2 trillion yuan, and 748.9 billion yuan respectively, ranking first, third, and fourth in the country ( Ranking of cities, excluding provinces).
Specific to the securities business department, in December, the ETF turnover of institutional clients of the Orient Securities business department in Shanghai was far ahead; the business departments with the highest ETF turnover of individual clients in Shenzhen and Ningbo came from the Huatai Securities and Cinda Securities business departments respectively. In addition, the ETF turnover of institutional clients of brokerage business departments such as Orient Fortune Securities, CITIC Securities, Great Wall Securities, Guosen Securities, and China Merchants Securities ranks relatively high in the country.
Huatai Securities Brokerage Customers Most Frequently Trade ETFs
According to the data of the Shenzhen Stock Exchange, as of the end of December 2022, the top three securities companies in the brokerage business of securities companies holding Shenzhen ETFs are Guotai Junan Securities, GF Securities and CITIC Securities, with market share of 9.74% and 9.03% respectively. %, 7.85%.
In addition, Haitong Securities, Huatai Securities, Shenwan Hongyuan, Galaxy Securities, China Merchants Securities, Guosen Securities, and China Securities all rank among the top ten ETFs held in Shenzhen, which is consistent with the previous month.
Although the scale is not the first, Huatai Securities’ clients love to trade ETFs. The brokerage business of Huatai Securities ranks only fifth in the scale of ETF holdings on the Shenzhen Stock Exchange, but it ranks first in terms of turnover both in the current month and in the current year. In December, the ETF turnover of Huatai Securities (Shenzhen Stock Exchange) far exceeded the second place (China Merchants Securities); the ETF turnover gap between China Merchants Securities and Huabao Securities, Orient Securities, Orient Fortune, and CITIC Securities was not large.
In 2022, the ETF turnover of Huatai Securities Brokerage (Shenzhen Stock Exchange) is far ahead, far surpassing the second-ranked Orient Fortune Securities. CITIC Securities, Orient Securities, and Guotai Junan Securities rank in the top five, and the ranking remains unchanged.
From the perspective of the number of trading accounts, Huatai Securities has the largest number of accounts trading Shenzhen ETFs in 2022, accounting for the first market share; followed by Orient Fortune Securities and Ping An Securities, ranking second and third. The number of clients of the brokerage business of these three securities companies is also in the forefront of the industry. In addition, China Merchants Securities, GF Securities, Galaxy Securities, Haitong Securities, China Securities, Guotai Junan, and Guosen Securities ranked among the top ten in the industry in terms of the number of ETF trading accounts in Shenzhen last year.
China Asset Management still maintains the number and scale of ETFs held in Shenzhen Stock Exchange No. 1
From the perspective of fund managers, as of the end of December 2022, a total of 39 fund companies have issued and listed non-monetary ETFs on the Shenzhen Stock Exchange. Among them, 13 fund companies managed more than 10 billion Shenzhen ETFs, and 6 Shenzhen ETFs managed more than 20 billion yuan.
Specifically, China AMC has a total of 28 non-monetary (the same below) ETF products in Shenzhen, with a cumulative asset scale of 63.217 billion yuan, a slight increase from the previous month. Both the number of products and the scale of management rank first in the industry; The total size of ETFs in the city is as high as 47.131 billion yuan, and the average size of each ETF is 3.142 billion yuan, ranking first in the industry on average. The ETF scales of Harvest Fund, GF Fund, and Tianhong Fund are 35.485 billion yuan, 33.491 billion yuan, and 27.394 billion yuan, respectively.
In December last year, Invesco Great Wall Fund issued and established a ChiNext 50 ETF, raising a total scale of 7.12 billion yuan. In the whole of last year, Bosera Fund newly issued the largest ETF in Shenzhen, reaching 11.059 billion yuan; followed by Huaan Fund, with a newly issued ETF scale of 10.208 billion yuan. In addition, the newly issued ETF scales of Wells Fargo Fund and E Fund are 9.009 billion yuan and 8.747 billion yuan respectively. At the end of the year, Invesco Great Wall Fund overtook Harvest Fund and ranked fifth in the industry.
The number of CITIC, GF and Huatai service funds increased month-on-month
As of the end of December 2022, there were 21 liquidity service providers in the Shenzhen Stock Exchange fund market, providing liquidity services for 275 ETF products, accounting for 96.8% of all ETFs, covering stock ETFs (single market, cross-market, cross-border), Various types of bond ETFs, commodity ETFs, currency ETFs, etc.
Among the many liquidity service providers, CITIC Securities surpassed Founder Securities and became the liquidity service provider with the largest number of funds (210) last year. GF Securities and Huatai Securities also ranked among the top three in the industry, serving 191 and 190 products respectively, and Founder Securities ranked fourth in the industry with 172 products served. In addition, China Merchants Securities, Haitong Securities, and China Securities have served hundreds of products.
Compared with the previous month, CITIC Securities, GF Securities, and Huatai Securities have grown rapidly, and the number and ranking of service fund products have both increased.