Net Value Of ETF Fund Manager

On July 27, gold prices rose again, breaking a nine-year high.

Since July 24, the international gold price broke through the US $1900 barrier in one fell swoop. On July 27, the international gold price surpassed the record high of US $1921.15/oz in 2011 and reached a new high again. As of the time of publication, the highest international gold price has exceeded US $1940.

Gold prices continue to rise, gold ETF earnings also continued to rise and continue to be popular. According to wind data statistics, as of July 26 this year, all four gold ETFs in the whole market (excluding the newly established products this year) have achieved 22% returns.

"Previously, we also expected that, in the absence of the stimulus of landmark events, the rise of gold price may be more stable, although the certainty is high, but the rate may be relatively slow. Last week, there was an emergency, international relations tend to be tense, and the current epidemic situation is still tense, the uncertainty and even pessimistic expectation of the global economy is more obvious, which is the source of gold certainty." On July 27, Wang Xiang, manager of Boshi gold ETF fund, told the reporter of 21st century economic report.

Gold ETF turnover soared

At the same time of gold price soaring, gold ETF also set a recent turnover high.

On July 27, the turnover of Hua'an gold ETF and e-fonda gold ETF ranked among the top ten ETFs in the whole market. Among them, the turnover of Hua'an gold ETF reached 3.627 billion yuan, second only to Huabao Tianyi ETF and Yinhua Rili ETF, exceeding the turnover of securities ETF, gem 50ETF and Hushen 300etf.

Compared with the turnover data on July 24, the turnover of Huaan gold ETF on July 27 increased by more than 1 billion, or more than 55%.

On the whole, on July 27, the seven gold ETFs in the whole market rose by more than 2.2%, of which ICBC gold ETF rose the highest, reaching 2.69%, followed by Boshi gold ETF and Qianhai Kaiyuan gold ETF, with the increases of 2.58% and 2.57% respectively.

In fact, gold has also been one of the performing assets this year. The returns of the four gold ETFs established before this year have exceeded 22% as of July 26 this year. Among them, e fund gold ETF has the highest return of 22.24%.

The returns of the three gold ETFs newly established in April this year have all exceeded 7% as of July 26. Among them, ICBC gold ETF established on April 24 this year has the highest return of 8.07%.

"After the gold price broke through the record high of US $1910 per ounce this time, the future market will be fully open up, and it will not be long before the gold price breaks through the integer level of US $2000 per ounce in the future. In fact, the investment logic for gold is very clear, including the devaluation of paper money brought about by the global central bank's water release, and the highlighted value of gold as a safe haven after the global economic recession. From the investment point of view, gold ETF should be a good choice, with good liquidity, in addition, it can avoid individual stock risk Yang Delong, chief economist of Qianhai open source fund, said in an interview.

"In the short term, the pricing logic of gold mainly relies on inflation expectations. At the end of the month, we need to focus on the game of the US Congress on the fiscal relief plan. If the fiscal relief plan fails to be implemented before the recess of the US Congress, inflation expectations may be harmed, and there is a possibility of gold price correction." Cathay Pacific Fund pointed out in an interview.

Synchronous expansion of the market

Although the market is booming, some institutions have also raised the risk of fluctuations in the current allocation.

"The international gold price has now challenged the historical peak. However, historically, the short-term geopolitical events have limited sustainability in boosting the gold price, which generally comes from the concentrated catharsis of market sentiment and hedging demands. Chasing high investors also need to do a good job in short-term volatility aggravating risk considerations. " Wang Xiang said.

As a matter of fact, since this year, gold ETF has been in hot demand for funds. At the same time, with the support of Shanghai Gold ETF, the market has further expanded.

Data show that by the end of June this year, the largest ETF scale of Hua'an gold has exceeded 10 billion yuan, reaching 10.906 billion yuan, an increase of 56% compared with the data of 6.995 billion yuan at the end of last year. In addition, the scale of Boshi gold ETF and e fund gold ETF at the end of June this year also increased by more than 1 billion compared with that at the end of last year.

In addition, the first batch of Shanghai Gold ETF products approved since July have also been launched and announced to be established.

In March of this year, the first batch of fund-raising products of China Construction Fund Co., Ltd. were formally submitted to the fund supervision departments of China Construction Bank and China Securities and Technology Corporation Limited, and were approved by the fund supervision departments of Shanghai Guangfa in March of this year.

Among them, Fuguo Shanghai Gold ETF and Guangfa Shanghai Gold ETF were established on June 6 and 8, respectively, while CCB Shanghai Gold ETF and BOC Shanghai Gold ETF were launched on January 13 and 17, respectively.

"In the case of frequent global risk events, the hedging value of gold may be highlighted, and adding gold to the portfolio can effectively reduce the volatility of the portfolio. Domestic gold can effectively hedge against the depreciation of RMB against the US dollar. In the medium and long term, the risk of global economic recession is gradually increasing. The Federal Reserve has officially turned to Dove school. The scale of global negative interest rate bonds continues to rise, and gold may gradually usher in a large cycle of opportunities. " Beijing a public fund investment director that. (Editor: Wu Yanling)