Aspect 1: tracking index and constituent stocks
1, both of which are semiconductor index funds, Cathay Pacific CES Semiconductor ETF tracks the China trading service semiconductor industry index; Guolian' an CSI Quan Zhi Semiconductor ETF tracks CSI Quan Zhi Semiconductor Index. In addition, the Huaxia Guozhen semiconductor chip ETF being issued tracks the Guozhen semiconductor index. The constituent stocks of the above three semiconductor index funds are mainly distributed in semiconductor and semiconductor production equipment, materials, technical hardware and equipment, capital goods and other industries, among which the proportion of semiconductor and semiconductor production equipment is 78%, 83% and 86% respectively.
2. Zhao Zongting, the proposed fund manager of Huaxia Chip ETF, introduced that the number of constituent stocks of three semiconductor indexes, namely, China Trading Service Semiconductor Industry Index, CSI All-Index Semiconductor Products and Equipment Index and CSI Semiconductor Chip Index, is quite different. At present, there are 50 and 32 constituent stocks in the first two indexes, while there are only 25 constituent stocks in the CSI Semiconductor Chip Index.
Aspect 2: New products emerge one after another.
The higher the performance of 1., the stronger the "gold absorption effect" of the two products. The latest share of Guotai CES Semiconductor ETF is19190,000, which is nearly 6 times higher than the initial issuance. According to the latest estimate of the net fund value, the scale of Cathay Pacific CES semiconductor ETF has exceeded 3 billion yuan, and the scale of Guolian's CSI reference semiconductor ETF is about 750 million yuan. While the semiconductor industry has become a new outlet, head fund companies have also begun to gather together to lay out related ETF products. As far as the funds being raised are concerned, besides Huaxia Guozhen Semiconductor Chip ETF, Guangfa Guozhen Semiconductor Chip ETF is also being issued. The materials of CITIC Jiantou semiconductor chip ETF products submitted by Penghua Fund last year1the end of October 165438+ were also accepted in February last year.
2. Behind the semiconductor industry's public offering of fund products, it mainly stems from the market's optimistic development prospects for this industry. First of all, the demand for semiconductor equipment has exploded. 5G drives the demand for advanced process equipment to explode, and will generate massive data through terminal applications in the near future, stimulating the market demand for mature process equipment and memory chip process equipment; Second, local fabs have accelerated their production expansion. Since the third quarter of 20 19, domestic fabs have entered a new round of intensive procurement of process equipment; Third, the localization rate of equipment will increase: high-quality domestic equipment will continue to achieve import substitution, and the localization rate will continue to increase.