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the a-share shanghai composite index has been falling for four months, almost unilaterally to around 2,750 points. shuipi, a million-dollar v, reported that it turned out that the csi 300 etf under the top public fund e fund management was still smashing the market through the transfer and financing and shorting a-shares. even if the national team has been buying the csi 300 etf, it is useless.

recently, shuipi, the former editor-in-chief of china times and a douyin celebrity with millions of followers, released a video to report that the e fund csi 300 etf fund, under the top domestic public offering company with a management scale of nearly 2 trillion yuan, is still shorting a shares through the transfer and financing connect.

in the first half of 2024, the total size of funds under management of e fund management reached 1,913.415 billion yuan, and is about to reach 2 trillion yuan. while the scale of management has expanded, e fund management has also made a lot of money. regardless of the losses of investors, it will still collect management fees. in the first half of the year, it achieved a net profit of 1.516 billion yuan, becoming the most profitable fund company.

shuipi reported that the e fund csi 300 etf fund actually lent out 35 million shares of gree electric appliances through transfer and financing, causing the share price of gree electric appliances to come under pressure. at this time, the national team was actively buying the csi 300 etf, intending to boost the market through this broad-based index product and curb the downward momentum of a-shares.

however, as a public fund, e fund went short, which undoubtedly brought great irony and disharmony to the market.

this scene in the stock market is really ridiculous. the national team has tried its best to support the market, but the public funds are sabotaging it behind the scenes. this is tantamount to the left hand giving money to the right hand, but the right hand throws the money away. this situation makes the majority of investors sweat for the national team.

from a data perspective, the volatility of the stock market is even more astonishing. since the beginning of this year, the csi 300 index has fallen by about 15%, and many stockholders have suffered heavy losses.

in order to stabilize the market, the national team invested heavily in the market, investing more than 100 billion yuan in etfs in june alone. however, this operation by e fund is undoubtedly a heavy blow to the efforts of the national team.

in-depth analysis of the logic behind this shows that as a professional investment institution, public funds should have taken on the responsibility of being responsible for investors. however, the current situation is that they collect fees from investors while damaging their interests behind their backs.

this behavior is undoubtedly a typical case of "eating from within and betraying one's own company." moreover, as a leading company in the a-share market, gree electric appliances has a market value of more than 300 billion yuan. this behavior of crashing the market not only damaged gree's stock price, but also severely hit investors' confidence.

in addition, this incident also exposed loopholes in supervision and defects in the market mechanism. as an important participant in the market, public funds were able to operate in this way at the critical moment when the national team rescued the market, which clearly reflects the lack of supervision. at the same time, there are also defects in the market mechanism. all parties should have cooperated, but now they are hindering each other, forming an embarrassing situation of "one hand cannot clap".

in terms of impact, in the short term, this incident has undoubtedly dealt a heavy blow to market confidence. even the national team is unable to reverse the situation, which makes retail investors feel desperate. in the long run, if this behavior is not effectively stopped, it is likely to trigger a vicious cycle, leading to the deterioration of market atmosphere, and ultimately the majority of investors will suffer.