Sold out in less than two days! Sold more than 10 billion yuan!
At the noon of April 26, the AAA index of China Merchants Securities interbank certificates of deposit issued for less than two days has been sold for more than 10 billion yuan in seven days, becoming a rare explosion fund in the market.
Since this year, the issuance of new funds has shown the trend of “ice and fire”. Industry insiders said that investors’ risk appetite has declined recently, and they all want to find a margin of safety from certainty. Equity products are generally difficult to sell. In comparison, the acceptance of robust products is higher.
see explosion fund again
Recently, there are market rumors that China Merchants Securities interbank certificate of deposit AAA index held for seven days (hereinafter referred to as “the fund”) sold more than 10 billion yuan in two days.
On April 26, the China Securities Journal China Securities Taurus reporter asked for confirmation from the main marketing channel of China Merchants Fund and learned that the fund had sold more than 10 billion yuan at noon on April 26, which is likely to start the proportional placement. It is reported that the fund was originally raised from April 25 to May 6, 2022.
On April 26, China Merchants Fund announced that the AAA index of China Merchants Securities interbank certificates of deposit held for 7 days ended the raising ahead of schedule on April 26. According to the fund offering announcement, if the cumulative effective subscription application amount of fund units (excluding interest) exceeds 10 billion yuan after the deadline for raising, the fund manager will adopt the method of confirmation of doomsday proportion to effectively control the scale, and the unconfirmed subscription amount will be returned to investors after the end of the raising periodP align = “center” source: Fund announcement
inter bank certificate of deposit Index Fund sought after
In addition to the second batch of inter-bank certificate of deposit funds being sought after, the first batch of inter-bank certificate of deposit index funds have also frequently suspended subscription and purchase restrictions.
In terms of the operation of the first six fund companies, as of April 25, the first batch of inter-bank certificate of deposit index funds have achieved positive returns since its establishment in December last year. According to the data, the average yield of the first six inter-bank certificate of deposit index funds was 1.04%, of which the yield of Wells Fargo inter-bank certificate of deposit index held for seven days was the highest, 1.17%. The average yield of the Monetary Fund in the same period was 0.73% – 0.76%P align = “center” list of the first six inter-bank certificate of deposit index funds
At present, the application for inter-bank certificate of deposit index funds of Penghua Fund, Wells Fargo fund and AVIC fund has been suspended. The maximum subscription limit of Huafu interbank certificate of deposit index fund is 50000 yuan, while the maximum subscription limit of interbank certificate of deposit Index Fund under Huisheng fund and South Fund is 1 million yuan. On April 20, the southern interbank certificate of deposit index fund also announced that it would make a proportional placement of the effective subscription amount on April 15, and the confirmed proportion was 98152115%.
After the approval of the second batch of inter-bank certificate of deposit index funds on April 20, they quickly entered the issuance period. The interbank certificate of deposit index funds of China Merchants Fund and Huaxia Fund were officially sold on April 25. The same batch also includes interbank certificate of deposit index funds of Ping An, CICC, Chunhou and xingyin fund companies.
As can be seen from the product name, the fund tracks the performance of the AAA index of China Securities interbank certificates of deposit and sets a 7-day holding period. “From the risk return characteristics of the index, the inter-bank certificate of deposit AAA index has a short duration and low interest rate risk, showing a better risk return ratio.” Introduction to China Merchants Fund.
capital pursues stability
Since this year, the issuance of new funds has shown a situation of ice and fire. On the one hand, the pace of fund issuance slowed down, and investors’ enthusiasm for the purchase of equity funds continued to decline; On the other hand, stable funds such as REITs and interbank certificate of deposit index funds are popular with the foundation.
“It’s mainly the decline of investors’ risk appetite. They all look for the margin of safety from certainty.” A relevant person of a fund company said that equity products are more difficult to sell. In comparison, the acceptance of stable products is higher. “Strictly control the withdrawal first, and then strive for excess return” is the criterion of many investors.
Meanwhile, Huaxia China Communications Construction Company Limited(601800) reit issued in April sold out one day, attracting more than 80 billion yuan of funds, and the effective subscription of offline inquiry reached 38 times. Some inter-bank certificate of deposit index funds frequently “thank customers” and issued announcements of suspension and restriction of purchase.
“Interbank certificates of deposit and other money market assets benefit from the loose monetary environment. They are expected to have a stable trend and relatively higher income certainty.” Insiders said that the certificate of deposit fund mainly invests in interbank certificates of deposit within one year. At the current time point, on the one hand, it is expected to obtain relatively stable coupon income, on the other hand, the volatility and pullback are relatively controllable, so it can meet the needs of investors for low-risk and high liquidity financial instruments.
