China Fund News reporter Tianxin
Due to the hot market of the Beijing Stock Exchange, the Beijing Stock Exchange 50 index funds of many companies began to limit the purchase of large amounts, and some simply "closed the door" because the scale reached the upper limit.
A number of BSE 50 index funds are restricted from purchasing or closed their doors
On October 9, Harvest Fund announced that according to the "Announcement on the Opening of Daily Subscription, Redemption, Conversion and Regular Investment Business of Harvest BSE 50 Component Index Securities Investment Fund" issued on January 3, 2023 and the "Announcement on the Scale Control of Harvest BSE 50 Component Index Securities Investment Fund" issued on January 5, 2023, the upper limit of the current scale of Harvest BSE 50 Component Index Fund is 500 million.
As of October 8, 2024, the fund has reached the upper limit of 500 million shares, and the valid subscription applications on October 8, 2024 will be partially confirmed by the principle of "subscription application proportion confirmation", and the proportion confirmation and results will be announced separately.
At the same time, in order to ensure the smooth operation of the fund and protect the interests of fund unit holders, the subscription (including switching and transfer-in and regular fixed investment) business of the fund will be suspended from October 9, 2024.
On the same day, Wells Fargo Fund issued an announcement on the scale control of the Wells Fargo Beijing Stock Exchange 50 Component Index, stating that as of October 8, 2024, after all the valid subscription applications of the fund were confirmed on that day, the total share of the fund had exceeded the upper limit of 500 million shares, so the effective subscription application on October 8, 2024 was partially confirmed by the principle of "subscription application proportion confirmation", and the confirmation ratio of valid subscription applications was 95.12238%.
Wells Fargo Fund also stated that in order to ensure that the total share of the fund is capped at 500 million, the company may still adopt the principle of "confirmation of subscription application ratio" to partially confirm valid subscription applications after October 8, 2024.
Following the large-scale purchase restriction a few days ago, China Merchants BSE 50 Component Index Fund issued a scale control announcement on October 8 and suspended the subscription business from now on.
The ICBC Credit Suisse BSE 50 Component Index Scale Control Announcement issued by ICBC Credit Suisse also shows that because the total share of the fund is capped at 500 million shares at this stage, the fund will control the scale of the fund from October 9, and if the total share of the fund exceeds 500 million after all the valid subscription and redemption applications of various fund shares on T day are confirmed, the principle of "proportional confirmation" will be adopted for the effective subscription application on T day.
In addition, Bosera Fund, GF Fund and China Southern Asset Management issued announcements on the large-amount purchase restrictions of their BSE 50 products, and the upper limits of large-amount subscriptions were set at 10,000 yuan, 50,000 yuan and 100,000 yuan respectively.
The rebound market is hot, and the theme fund of the Beijing Stock Exchange has made a strong comeback
With the rebound of the A-share market, the Beijing Stock Exchange also ushered in an explosive market.
As of October 9, the Beijing Stock Exchange 50 Index has risen by more than 60% since September 24, and the maximum increase in the range is more than 85%, and the related theme funds of the Beijing Stock Exchange have also rebounded strongly during the period.
Wind statistics show that as of October 8, in terms of passive index funds, 16 BSE 50 index funds have all risen by more than 50% since the rebound on September 24. Among them, the A range of GF Beijing Stock Exchange 50 Component Fund rose by 80.78%, the Beijing Stock Exchange 50 Component Index Fund under CEIBS and E Fund rose by 78.55% and 77.96% respectively, and similar products under China Merchants, Bosera and Chuangjin Hexin all rose by more than 70%.
The overall performance of active funds is not as good as that of index varieties. The 11 BSE thematic funds all returned more than 20% during the period, and only 6 returned more than 50% during the period. Among them, the Huaxia Beijing Stock Exchange has the highest income of innovative small and medium-sized enterprises, with 60.31%, and the selection of GF Beijing Stock Exchange, China Securities Construction Investment Beijing Stock Exchange, Invesco Great Wall Beijing Stock Exchange, China Universal Beijing Stock Exchange Innovation Selection, and Southern Beijing Stock Exchange Selection also rose by more than 50%.
It is worth mentioning that in order to catch up with the market of the Beijing Stock Exchange, Tianhong Fund issued an announcement on October 8 that Tianhong Beijing Stock Exchange 50 Component Index Fund ended its fundraising ahead of schedule.
According to the announcement, the fund began to raise funds on September 13, and the original fundraising deadline was December 12, 2024, in order to better safeguard the interests of fund holders, according to relevant regulations, it was decided to end the fundraising in advance, and the fundraising deadline was advanced to October 9, and the effective subscription on that day will be fully confirmed, and subscription applications will no longer be accepted from October 10.
In addition to the Tianhong BSE 50 Component Index Fund, since the beginning of this year, there are also CSI BSE 50 Component Index, Dongcai BSE 50 Index, and Huaan BSE 50 Component Index have been established, of which the first two are initiated, and several products have well grasped the rebound market.
Editor: Joey
Review: Chen Siyang