wipeouttelevisionshow| The scale of public funds exceeded the 30 trillion yuan mark for the first time
editor 2024-05-24 08:34:16 Nature 22
Zhao Mengqiao, a reporter from the Securities Times
The latest data showWipeouttelevisionshowThe management scale of public offering funds in China has reached a new high and has made a breakthrough.WipeouttelevisionshowPassed the 30 trillion yuan mark.
On May 23, the latest data of the China Foundation Association showed that as of the end of April 2024, there were 148 mutual fund management companies in China. Among them, 51 foreign-invested fund management companies (including Sino-foreign joint ventures and wholly foreign-owned), 97 domestic fund management companies, 13 securities companies or asset management subsidiaries of securities companies qualified for public offering fund management, and 1 insurance asset management company. The total net asset value of public funds managed by the above institutions is 30%Wipeouttelevisionshow78 trillion yuan, it is worth mentioning that this is also the first time that the scale of public offering fund management has reached the 30 trillion yuan mark.
In terms of the number of funds, 112 new fund products were added in April, and the increase in share and net worth mainly depends on the "purchase" of various products and the recovery of the market.
In terms of the amount of net worth growth, the goods base played the main role in the growth in April, and the net value increased from 12% to 12% without any change in the number of funds.Wipeouttelevisionshow48 trillion yuan increased to 13.44 trillion yuan, an increase of nearly 1 trillion yuan in a single month. With regard to this phenomenon, some industry insiders said that significant changes have taken place in the debt side of financial institutions recently, that is, the release of deposits, or the transfer of deposits to the goods base, debt base and financial management.
The above people said that behind this phenomenon is the suspension of manual interest rates and the impact of a series of previous policies to guide the downward interest rates on deposits, as well as the widening gap between deposit yields and yields such as goods base, debt base and financial management.
There are brokerage research reports that financial management for "high-interest" deposits, non-standard and other assets availability decline, may have to passively increase the proportion of bond allocation, especially short-term bonds. The allocation pressure of financial management will also be transmitted to the base and short-term debt funds, bringing short-term allocation demand.
Therefore, the size of the debt base also increased significantly in April, from 5.68 trillion yuan to 6.14 trillion yuan, an increase of 8.19% compared with the previous month. Recently, the market once again staged a "stock and bond seesaw" market-the stock market ushered in a rebound, but the bond market continued to pull back. However, this phenomenon did not prevent bond funds from issuing in April, with a share of 117.916 billion shares, and the amount of money raised by a number of popular products quickly reached the upper limit.
However, under the background of the rapid growth of debt base and goods base, the scale growth of equity products is relatively slow. In April, A shares showed a good trend, with the Prev rising 2.09% in a single month and the Shenzhen Index up 1.98%. In this context, the share of equity funds increased by 0.75%, while ETF (exchange traded funds) once again "performed meritorious service".
According to statistics, as of the end of April, there were 947 mutual funds in the ETF market, with a total size of 2.48 trillion yuan, up 3.41% from the previous month. From the perspective of a single product, the share of six ETF funds increased by more than 1 billion during the month, of which the share of Shanghai and Shenzhen 300ETF increased most significantly, reaching 2.116 billion, with a net inflow of more than 7.5 billion yuan. This was followed by Medical ETF and Hang Seng Medical ETF, with a share increase of 1.961 billion and 1.538 billion respectively, with net inflows of 626 million yuan and 531 million yuan respectively.
In addition, although the number of hybrid funds has increased, their share in the recovery market has decreased slightly, from 3.72 trillion to 3.41 trillion, a drop of about 0.63 per cent, but the net worth is still up 1.86 per cent.
In terms of QDII (qualified domestic Institutional investors), the Hong Kong stock market, the largest destination for QDII funds, led the world's gains in April, with the Hang Seng Index rising more than 7 per cent in a single month. However, markets such as the US, the UK and France have experienced a pullback, with some funds taking profits in the rebound in Hong Kong stocks and other factors, and the overall share of QDII funds has also fallen by 0.67 per cent. By the end of April, the total assets of QDII has reached 479.535 billion yuan, and some QDII funds which can hold a large proportion of US stocks within the scope of the fund contract continue to allocate Chinese assets. At present, half of the QDII funds are in a state of purchase restrictions.
A public offering person in Shanghai said that one of the key considerations for some QDII funds to adjust their purchase quota is that their foreign exchange investment quotas may be tight with the influx of large amounts of money. When the fund company's foreign exchange investment quota is fully occupied, if investors want to continue to apply for fund shares, they can only wait for the quota released after redemption by other holders.