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As the market launched the battle to defend 3,000 points, Central Huijin Investment, known as the "national team", continued to take action and aggressively subscribed to a number of "super-sized" ETFs such as the CSI 300 ETF in the second quarter.

The second quarter report shows that Central Huijin subscribed to multiple ETFs in the second quarter, including E Fund CSI 300, Harvest CSI 300, Hua Xia CSI 300, Huatai-PineBridge CSI 300, etc. According to the average transaction price, the subscription amount in the second quarter may be close to 15 billion yuan. At the end of the period, the scale of the above ETFs held exceeded 300 billion yuan.

Affected by the national team's "rescue of the market", the scale of the CSI 300 ETF products under E Fund, Huatai-PineBridge, Harvest, and China Asset Management has increased by more than 70 billion yuan this year, with the largest increase exceeding 100 billion yuan.

Funds are still flowing in, and on July 17, the trading volume of the four leading products of the CSI 300 ETF continued to increase.

Central Huijin holds over 300 billion yuan

On the evening of July 17, the second quarter reports of many ETFs were released, and Central Huijin's investment trends in the second quarter were exposed. The second quarter reports showed that after a large number of broad-based ETF purchases in the first quarter, Central Huijin continued to maintain a net purchase rhythm in the second quarter.

According to the second quarter report of E Fund CSI 300 ETF, an institutional investor subscribed 2.883 billion fund shares in the second quarter. If the average transaction price in the second quarter is used for estimation, the subscription amount of the institution in the second quarter may reach 5.019 billion yuan. According to the unit net value at the end of the period, the scale of the E Fund CSI 300 ETF held by the institution at the end of the second quarter exceeded 93.3 billion yuan.

Comparing the shares held in the first and second quarters, the institutional investor is Central Huijin Investment.

In addition to the E Fund CSI 300 ETF, Central Huijin also increased its holdings of the Harvest CSI 300 ETF, the Hua Xia CSI 300 ETF, and the Hua Xia SSE 50 ETF in the second quarter.

The second quarterly report of Harvest CSI 300 ETF disclosed the situation that the proportion of fund shares held by a single investor reached or exceeded 20% during the reporting period. The announcement showed that Central Huijin purchased 1.258 billion shares of Harvest CSI 300 ETF in the second quarter. According to the average transaction price in the second quarter, the subscription amount was about 4.662 billion yuan.

As of the end of the second quarter, Central Huijin's holdings in the Harvest CSI 300 ETF were RMB 70.811 billion.

Central Huijin also appeared in the second quarter reports of Huaxia CSI 300 ETF and Huaxia SSE 50 ETF. The second quarter report shows that Central Huijin subscribed 1.051 billion shares of Huaxia CSI 300 ETF and 564 million shares of Huaxia SSE 50 ETF in the second quarter. According to the average transaction price, the subscription amount was about 3.831 billion yuan and 1.400 billion yuan respectively.

Judging from the second quarter reports of the above-mentioned ETFs that have been disclosed so far, the amount of ETF subscriptions by Central Huijin in the second quarter may be close to 15 billion yuan, and the total size of the above-mentioned ETFs held at the end of the period reached 309.1 billion yuan.

As the most representative large-cap blue-chip index in the A-share market, the CSI 300 Index gathers the most core equity assets of A-shares and covers leading companies in various industries. The index performance is closely related to China's macroeconomic cycle and the overall profitability of leading listed companies in various industries, and is basically consistent with the trend of the A-share market.

The fund manager of E Fund CSI 300 ETF said that the current valuation of the A-share market is still at the historical bottom and is at a significantly lower level compared with the global market. It has good investment attractiveness both vertically and horizontally.

The trading volume of the leading ETF of CSI 300 continues to be high

In fact, the trading volume of the above four CSI 300 leading ETF products has remained high this year.

Choice data shows that so far this year, the annual trading volumes of the CSI 300 ETFs under Hua Xia, Huatai-PineBridge, E Fund and Harvest Fund have reached 162.389 billion yuan, 539.449 billion yuan, 207.947 billion yuan and 208.256 billion yuan respectively.

The trading volume of the above-mentioned products has shown an increasing trend in the near future.

Choice data shows that as of July 17, the total scale of 909 stock ETFs (including cross-border ETFs) in the market reached 2.05 trillion yuan. During the shock adjustment on the 17th, funds continued to flow in through stock ETFs, and the total market share of stock ETFs increased by 7.33 billion shares. According to the average transaction price in the range, the net inflow of funds was about 26.004 billion yuan.

Judging from the flow of funds, the CSI 300 ETF under Huatai-PineBridge, E Fund, Hua Xia and Harvest Fund attracted a total of 19.3 billion yuan, accounting for 74% of the total inflow of funds. It is still the main force for ETFs to attract funds in the volatile market.

Among them, the net inflow of funds of Huatai-PineBridge CSI 300 ETF and E Fund CSI 300 ETF on the day exceeded 5 billion yuan. The CSI 300 ETF under Hua Xia and Harvest Fund attracted 4.6 billion yuan and 3.8 billion yuan respectively.

In terms of trading volume, the trading volume of the four CSI 300 ETFs on the 17th also hit a peak since March 5 this year, with a total trading volume of nearly 23.5 billion yuan.

On the 18th, the trading volume of leading ETFs slowed down. The trading volumes of the CSI 300 ETFs under China Asset Management, Huatai-PineBridge, E Fund and Harvest Fund reached 2.339 billion yuan, 6.976 billion yuan, 3.975 billion yuan and 2.1 billion yuan respectively, with a total trading volume of 15.39 billion yuan.

In addition to the four major CSI 300 ETFs, CSI 1000 ETF and CSI 500 ETF also saw a large amount of net buying. CSI 1000 ETFs under Southern, Huaxia, GF, and Fortune had a total net buying of 5.8 billion yuan on the 17th; CSI 500 ETF under Southern Fund also attracted 2.2 billion yuan on the same day.

Industry insiders said that at the beginning of the year, Central Huijin announced the expansion of the scope of ETF holdings, and will continue to increase the intensity and scale of holdings. The entry of the "national team" has increased the attractiveness of A-share valuations and boosted the market's enthusiasm for "bottom-fishing". As representatives of broad-based indexes, leading ETFs that track indexes such as the CSI 300, CSI 500, and CSI 1000 have also received a large amount of capital purchases.

"In addition to the national team, various medium- and long-term funds including social security funds, insurance companies, corporate pensions, personal pensions, foreign capital, etc. are expected to become incremental funds to drive the growth of stock ETF scale." An equity fund manager in North China told the First Financial reporter that stock ETFs are still in a period of development opportunities, the penetration rate is still relatively low, and there is still a lot of room for long-term funds to enter the market.

A reporter from the First Financial Daily found that while funds were buying a large amount of the CSI 300 ETF, there was a net outflow of funds from the Science and Technology Innovation 50 ETF and the ChiNext ETF.

In terms of capital outflow, the Sci-Tech Innovation 50 ETF had a net outflow of 534 million yuan on the 17th, ranking first in the market. Among the broad-based indexes, the net outflow of funds from the ChiNext ETF and the Sci-Tech Innovation Board 50 ETF also ranked at the forefront of the market.

Among industry or theme ETFs, securities ETFs and pharmaceutical ETFs had net outflows of more than 200 million yuan on the 17th, and many ETFs such as chip ETFs, brokerage ETFs, and semiconductor ETFs had net outflows of more than 100 million yuan.

However, judging from the volume of capital outflows and fund size, the net outflows of the above-mentioned products are mostly below 600 million yuan. Compared with the fund size of tens of billions of yuan, the flow trend of funds is relatively smooth and still within the normal fluctuation range.