In the eyes of the industry, the approval of the above products indicates that investors have a new tool to directly invest in high-quality enterprises of the North Exchange, and it also indicates that the North Exchange has ushered in a new stage of indexed investment, which is conducive to investors' participation in the North Exchange market, better grasping the investment opportunities of "specialized and innovative" SMEs, and introducing incremental funds and diversified investors to the market.
The first batch of 8 Beizheng 50 index funds were approved.
Since 202 1,1,1and 15, the North Exchange has been running smoothly for more than a year. 165438+1October 2 1, the first index of the North Stock Exchange-Beizheng 50 Component Index officially released the real-time market. In this regard, the market has long called for. On the same day, eight companies including E Fund, Huaxia Fund, Guangfa Fund, Guo Fu Fund, Huitianfu Fund, southern fund, China Merchants Fund and harvest fund reported the 50-component index fund of Beizheng.
After only four days, the above eight products have been quickly approved.
As the first index launched by the North Exchange, the positioning of the 50-component index of the North Exchange reflects the overall performance of the 50 most representative stocks in the North Exchange market. By selecting 50 stocks with large scale, good liquidity and high recognition through market value, liquidity and other indicators, it can timely, objectively and accurately reflect the market situation of the North Stock Exchange and the stock price performance of core listed companies, which is convenient for investors to understand the overall performance of listed securities in the North Stock Exchange and meet the needs of indexed investment.
China Merchants Fund pointed out that the launch of the Beizheng 50 Index Fund is of positive significance for improving the investment reference system of the North Stock Exchange, enhancing market attractiveness, enriching the product types of the North Stock Exchange and introducing incremental funds. "On the one hand, the release of the North Exchange 50 Index provides an effective reference for investors to track the overall operation of the North Exchange market, enhances investors'' visibility'' of the operation of the North Exchange market, facilitates investors' horizontal cross-sector investment comparison, and helps investors make decisions. On the other hand, the release of the Beizheng 50 Index provides a tracking target and income comparison benchmark for the index investment products of Beizheng. The index products linked to the North Exchange 50 Index are expected to be further enriched, and the diversified investment channels of the North Exchange are expected to be further broadened. In turn, it will inject more capital and more diversified investors into the North Exchange and enhance the attractiveness and liquidity of the North Exchange. "
Liu Jie, assistant general manager of the index investment department of GF Fund, said that the Beizheng 50 Index is the first important broad-based index representing the overall trend of Beizheng in the whole market. The approval of related products will, on the one hand, introduce more long-term passive investment funds for the North Stock Exchange market, improve market liquidity and create a good environment conducive to the growth of small and medium-sized science and technology enterprises; On the other hand, it is also possible to provide convenience for ordinary investors to share the dividend of the accelerated growth of innovative SMEs in China through index funds.
Harvest fund also believes that the approval of the 50-related index products of the North Stock Exchange will help to further introduce long-term funds such as passive investment for the North Stock Exchange, which is expected to bring brand-new indexed investment opportunities for the North Stock Exchange, further enrich investors' investment choices, and bring investors a new tool with one-click access to the new "little giant" with high quality and specialization.
"The launch of the index is expected to attract more financial institutions to develop corresponding index products, introduce incremental funds to enhance market liquidity, broaden the investment channels of the North Exchange and lower the investment threshold of the North Exchange." Yan Yang, fund manager of Huitianfu Fund, said that derivatives such as index funds linked to the North Stock Exchange 50 are expected to be launched one after another in the future, bringing more living water to the North Stock Exchange market.
Before the above products were approved, there were 10 theme funds in the whole market. They are 8 funds established in June last year 1 1 and 2 funds established in August this year, with management fees of around 1.5%. According to the analysis of Huaxia Fund, compared with the existing actively managed funds of Beijing Stock Exchange, the index products of Beijing Stock Exchange have the advantages of low rate, flexible redemption, transparent positions and risk diversification.
Beizheng 50: The content of "specialization and innovation" is high, and it has long-term investment value.
As the core broad-based index of the North Exchange, the 50-component index of the North Exchange is both representative and growing. As of 2022 10/0/4/kloc-0, the total market value of the index was131600 million yuan, accounting for 7 1% of the total market value of the North Stock Exchange. The operating income, net profit and R&D expenditure of the index account for more than 65% of the whole market of the North Stock Exchange, covering 65,438.
"The content of' specialized and new' enterprises in the constituent stocks of the North Securities 50 Index is higher than other comparable indexes. The company's R&D investment is high, and related enterprises are widely distributed in key industrial chains of high-end equipment manufacturing, biomedicine, new chemical materials and other industries, gathering more high-quality scarce targets. " According to the analysis of GF Fund, from the past data, the index has the characteristics of high growth, high profit and reasonable valuation, and the investment cost performance is worthy of attention.
According to Li Jun, director of the quantitative investment department of Huaxia Fund, the release of the Beizheng 50 Index is of great significance, which can play the role of the financial market in serving the real economy, guide social funds such as public offering, insurance and banking to flow to innovative small and medium-sized enterprises such as "specialized and innovative", and solve the development dilemma of financing difficulties for small and medium-sized enterprises.
"The emergence of the North Stock Exchange 50 indicates that the whole market has an important broad-based index for measuring and observing the overall trend of the North Stock Exchange for the first time, and has a clearer reference benchmark for the funds invested in the North Stock Exchange. It also means that the whole market of the North Stock Exchange has gradually entered a more mature state and is expected to enter a new stage of development." Harvest fund said.
Southern fund said that the release of the 50-component index of the North Exchange is beneficial to investors' research on the North Exchange, and the index is also expected to enhance the visibility of the North Exchange, provide a more objective benchmark for product establishment, and help expand the theme products of the North Exchange. "In the future, the establishment of the North Securities 50 constituent stock index fund can be expected, which will bring more incremental funds to the North Stock Exchange."
"Due to factors such as market size, liquidity or time to market, some' little giant' enterprises with specialization and novelty have not been included in the index stocks. With more' specialized and new' enterprises listed on the North Stock Exchange in the future, more' specialized and new' enterprises will be absorbed into sample stocks, reflecting their plate characteristics and positioning, which will better promote the development of the North Stock Exchange market. " Southern fund further analysis.
It is worth mentioning that at present, the stock prices of the constituent stocks of the North Exchange Index have been adjusted to some extent. "On the one hand, this is due to the correction of the entire capital market sector in the previous period. On the other hand, most of the companies listed on the North Exchange are innovative small and medium-sized enterprises, and macro-environmental changes are more likely to cause fluctuations. " Huaxia Fund said.
The company believes that in the long run, the current North Exchange Index has good investment value. On the one hand, the valuation has fallen to a relatively low level, and on the other hand, the "little giant" enterprises that are specialized and cutting-edge, which are served by Beijing Stock Exchange, meet the strategic direction of China's need for manufacturing upgrading, get extensive policy support, and have long-term high growth.