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澳门赌博场网址:Haifutong pushes the market's first local government debt ETF

时间:2018/6/29 18:52:15  作者:  来源:  浏览:0  评论:0
内容摘要:Fortis Haitongwhole market this week began issuing permits 10-year local government bonds on the ETF's first local government bonds ETF-- Fo...

Fortis Haitong whole market this week began issuing permits 10-year local government bonds on the ETF's first local government bonds ETF-- Fortis, will fill the gaps in the market, many local government debt will be combined into a subject, there Help solve the problem of scattered local government debt and provide investors with a basket of local government bond investment opportunities.


For a long time, the decentralization of local government bonds in China has been relatively poor, which has brought difficulties to investors' portfolio management. Various market players have explored how to further promote the development of local government bonds. They are issued in the sea Fortis SSE 10 ETF-year local government bonds will contribute to the integration of local government debt, the formation of the main market. Compared to direct investment in local government bonds, the fund can provide a basket of investment opportunities in local government bonds to investors to avoid the difficult subject of screening and the bond liquidity shortage and other issues, it is a good choice for investors in these bonds investments.


According to Hai Futong's ten-year local government debt ETF proposed fund manager Chen Yuping, this ETF product also has the following six advantages: First, will announce the position information through the daily redemption list, the positions open and transparent; Second, the index Investment can diversify the risks of vouchers and regional valuations, which is conducive to the organization of risk exposure management. Third, the bond ETF transaction is exempted from stamp duty and the transaction cost is low. IV. It is possible to carry out T+0 transactions. The trading mechanism is flexible and diversified. High turnover efficiency; Fifth, the fund is expected to be included in the Zhongdeng pledge warehouse in the future, becoming the pledged repurchase target of the exchange; VI. The current purchase certificate can be used for subscription purchase mode, which is conducive to revitalizing stock bonds assets.


In particular, during the subscription stage, the Shanghai Fortis 10-Year Local Government Debt ETF adopts a cash or cash coupon subscription model. Investors can use any one of the index constituent vouchers they hold to participate in the subscription, which facilitates the holding of zero coupons. Coupons can be converted into fund shares. At the same time, liquidity can also be reduced by repurchasing stock bonds with poor liquidity into fund shares. It can be expected that for investors holding related bonds, the attractiveness of this product is very prominent, or it will become an effective attempt by investment institutions to change the bond investment model.


Haifutong Fund owns Shanghai Fortis Shanghai Pledging ETF and Haifutong Securities Industrial ETF of the Shanghai Stock Exchange, and is the pioneer of domestic bond ETF products. Both of these products have created a precedent for the industry. Among them, Shanghai Fortis Securities Co., Ltd.'s pledged city bond ETF has been operating for three and a half years, and transactions in the secondary market have been more active. Hai Futong, the 10-year local government bond SSE ETF fund manager Chen Yuping, is the deputy director of fixed income investment of Hai Fu Tong Fund. He has extensive experience in the management of passive and passive bond products. According to him, Haifutong's 10-year local government bond ETF will closely follow the target index and seek to minimize the tracking deviation and tracking error.





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