Our reporter Wang Siwen
At the opening of the Beijing Stock Exchange, the first batch of eight Beijing Stock Exchange theme funds was officially approved.
Fund companies such as E Fund, GF, China Huitianfu, China Southern, Harvest, Wanjia, Dacheng and other fund companies received the first batch of Beijing Stock Exchange theme fund approvals.
"Securities Daily" reporters learned from industry insiders that the first batch of Beijing Stock Exchange's theme funds may have a single initial placement limit of 500 million yuan, raising a total of 4 billion yuan, and the products are expected to be launched as soon as possible this week.
This also means that ordinary investors can participate in the Beijing Stock Exchange through the Beijing Stock Exchange theme fund from only 1 yuan.
Wu Yuanyi, fund manager of the Growth Investment Department of GF Fund, said in an interview with a reporter from the Securities Daily, "This provides a convenient channel for investors to participate in the sector, and gives investors the opportunity to share the benefits of new economic growth."
Eight funds were reported at the same time on October 18. From the product settings disclosed by the fund company, the following characteristics were presented: First, the eight products are partial-equity hybrid funds; It operates in a two-year closed period; third, the products are agreed to invest in Beijing Stock Exchange stocks at a ratio of not less than 80% of non-cash fund assets, and other holding positions can still be invested in the main board, small and medium-sized boards, and entrepreneurial Stocks in other sectors, such as the Shanghai Stock Exchange and the Science and Technology Innovation Board.
At present, public equity funds invest in the stocks of the Beijing Stock Exchange mainly in the following ways: secondary market purchases, new launches, strategic IPO placements and private placements.
Dacheng Science and Technology Innovation Board three-year fund manager Xie Jiale told the "Securities Daily" reporter, "In terms of investment in the secondary market, Dacheng Foundation focuses on large market capitalization, industry leaders and companies with advantages in the industrial chain. Companies listed on the Beijing Stock Exchange are based on " "Specialization, special innovation" is the main feature. Many companies are leaders in subdivisions and have strong competitiveness in the division of labor in the industrial chain. When the prosperity of the industry chain rises, companies with leading positions in the subdivisions can all Benefit."
Regarding the subscription of new shares, Wu Yuanyi revealed to a reporter from the Securities Daily that “Stocks listed on the Beijing Stock Exchange have the characteristics of high investment thresholds, large fluctuations, and unlimited sales of old stocks, which are quite different from those of other A-shares. Requires rational inquiry."
Regarding the investment and research team equipment and system support of the first batch of Beijing Stock Exchange funds, Wanjia Fund told the Securities Daily reporter, “The IT system used by Wanjia Funds to support the investment of Beijing Stock Exchange is now ready. On the one hand, we are already actively researching CBEX companies, and all CBEX companies will be included in the existing company’s overall equity investment research system, followed by researchers according to industry divisions."
Wu Yuanyi told reporters: “The company is equipped with sufficient and experienced researchers in related industries, covering the existing selected tiers. Researchers have already begun research and research. Investment researchers have also participated in Beijing Stock Exchange related topics many times. Training, in-depth understanding of trading rules and related laws and policies."
Dacheng Fund told reporters that it has created an investment research team specifically for the Beijing Stock Exchange, and more than ten senior investment researchers closely follow information technology, communications, semiconductors, high-end equipment, new energy, new materials, innovative drugs, and energy saving. Environmental protection and other industrial chains have achieved full coverage of the Beijing Stock Exchange.
For public funds, can companies listed on the Beijing Stock Exchange meet the daily liquidity needs of the funds?
The fund manager of Wanjia Fund, Ye Yong, told a reporter from the Securities Daily, “The future liquidity level of the Beijing Stock Exchange will be greatly improved. At the same level, the number of investor accounts will increase substantially, creating conditions for improving liquidity. On the other hand, unlike the select layer, the Beijing Stock Exchange will clearly be a'listed company' and institutional investors can invest. Therefore, It is expected that in the near future, the liquidity of the Beijing Stock Exchange can support the demand for redemption of public funds. In addition, the first batch of Beijing Stock Exchange themed public funds are all two-year fixed-open product forms, and the two-year closed period is set up, which will affect liquidity. The tolerance is high, and fund managers can focus on selecting individual stocks and holding them in the medium and long term."
Wu Yuanyi also said, "From the fact that the selection layer has been in operation for more than a year, most of the selection layer companies have continued to improve their liquidity conditions. The daily turnover of relevant leading companies is 100 million to 200 million yuan, and liquidity is expected to increase in the future. In addition, the total number of investors who can participate in transactions on the Beijing Stock Exchange exceeds 4 million after the market opens."
"Overall, the investment strategy of Beijing Stock Exchange cannot simply apply the investment strategy of A shares." Ye Yong emphasized.
Consistent with the investment opportunities that the market is paying attention to, the first batch of Beijing Stock Exchange fund products will also focus on the top quality companies of the Beijing Stock Exchange and innovative small and medium-sized enterprises with high growth potential and specialised and new enterprises.
"In terms of industry, we prefer two major industries, mid-to-high-end manufacturing and information technology industries. Among them, we will focus on selecting specialized and new enterprises with high thresholds and high growth. Because this is the selected layer, that is, the future The best asset of the stock exchange." Ye Yong said.
In the selection of companies and risk control, Wu Yuanyi believes that “before investing in a company, it is necessary to do a multi-dimensional analysis and in-depth study of the company’s fundamentals, conduct multiple rounds of research and verification on the industry and company conditions, and examine the company’s fundamentals and Do an in-depth and comprehensive analysis of possible risks."
Regarding the attitude of public offering to participate in the investment of the Beijing Stock Exchange, many fund sources revealed to reporters that, compared with the previous overly cautious attitude, most institutional investors pay much more attention to the Beijing Stock Exchange.
In the future, we will continue to research and develop related innovative products, and strive to bring more liquidity to the market and improve the financing efficiency of SMEs.
(Securities Daily)