With the unique "money-making effect" during the year,hot news the gold ETF, which was once "neglected" by the market, was once again favored.
Due to the bright performance of gold prices during the year, many gold funds have not only hit record highs in net value, but also greatly increased in scale. In addition, various institutions have also poured in. Fund companies have also seized the few hot opportunities during the year and actively laid out them. At present, many fund companies such as Huaxia, Guangfa, Fuguo and ICBC Credit Suisse have launched a new round of gold layout.
Some insiders said that the volatility of gold is low and the investment is more stable, so investors should pay attention to its value in asset allocation.
Gold ETFs are issued together.
Since September, 10 Public Offering of Fund companies, including Huaxia, Guangfa, Fuguo and ICBC Credit Suisse, have reported 12 gold-related products, including QDII products that track the peripheral gold index and ETF products that track the China gold index.
Specifically, the Standard & Poor's gold producer ETF under Wells Fargo Fund is a QDII product that follows the external market gold index, while the gold new funds of other fund companies focus on the ETF that tracks the CSI Shanghai-Shenzhen-Hong Kong gold industry stock index (hereinafter referred to as "Shanghai-Shenzhen-Hong Kong gold stock index ETF"). Judging from the texture of constituent stocks, the CSI Shanghai-Shenzhen-Hong Kong Gold Industry Stock Index is highly focused on gold mining stocks.
Up to now, among the ETFs of the Shanghai-Shenzhen-Hong Kong Gold Stock Index, the products of Yongying Fund were established at the end of October, and the products of Huaxia Fund are currently being issued. The other ETFs of Guangfa, Jiashi, ICBC Credit Suisse and Huaan have been declared for approval. As one of the few hot-selling products, the Win-Win Gold ETF mentioned above completed the fundraising in only four days, and raised about 339 million yuan, of which individual investors held more than 80% of the shares.
The Nuoan Fund pointed out that the price of gold has risen significantly recently due to geopolitical conflicts and rising market risk aversion. It is suggested that investors actively pay attention to the price trend of gold and gradually increase the proportion of gold allocation on dips to seize the investment opportunities of gold.
Due to the bright performance of gold price, many gold-related products have successively hit record highs. For example, the latest unit net value of Huaan Gold Easy ETF reported 4.5895 yuan, which remained near the highest value in 10 years. The latest asset scale reached 12.378 billion yuan, making it the largest gold ETF at present. The scale of Boss Gold ETF followed closely, with the latest net asset value of about 7.51 billion yuan, and the unit net value also reached the highest value in history, reaching 45,849 yuan.
According to the data of Tianxiang Investment, among the top ten commodity funds with net subscription in the third quarter of 2023, the products linked to gold occupied nine seats, including Huaan Gold Easy (ETF Connection) C, Yifangda Gold ETF Connection C, Boss Gold ETF Connection C and many other products with net subscription exceeding 500 million.
Various funds pursue gold assets.
It is worth mentioning that most of the fund companies that declare gold products have already laid out gold ETFs or Shanghai gold ETFs before, but the products managed by some companies have not been recognized by the market. For example, Ping An Fund issued Shanghai Gold ETF in March 2022. In March 2023, due to its small scale, the products went into liquidation, and the listing period was only one year. In addition, harvest fund's Shanghai Gold ETF is on the verge of liquidation. Facts have proved that the unsatisfactory performance of the stock products of the same theme ETF does not prevent the fund companies from re-arranging.
The bright performance of gold price not only attracted fund companies to compete for layout, but also caused various institutions to flood in. On November 29th, Yintai Gold announced that from November 22nd to November 29th, Shandong Gold Mining Co., Ltd. increased its holding of 29,290,100 shares through centralized trading on the stock exchange, accounting for 1.05% of the company's total share capital. This increase uses its own funds and is part of the previous increase plan. As of the announcement date, Shandong Gold has accumulated 62.192 million shares of the company, accounting for 2.24% of the company's total share capital. After the increase, the total number of shares held by Shandong Gold reached 704 million shares, accounting for 25.34%. The amount of the holding plan is not less than RMB 1.288 billion and not more than RMB 2.576 billion, and the upper limit of the holding price is RMB 19.04 per share.
Central banks also actively increased their positions in gold during the year. Earlier, the latest Global Gold Demand Trend Report released by the World Gold Council showed that in the third quarter of 2023, the global central bank purchased 337 tons of gold net, which was the third highest quarterly net gold purchase in history. In the first three quarters of 2023, the demand for gold purchases by global central banks increased by 14% year-on-year, reaching a record 800 tons.
Among them, China has increased its holdings of gold for 11 consecutive months, becoming the largest gold buyer, and accumulated 181 tons in the first nine months, setting a record high. Poland and Turkey are the second and third largest buyers, and eight other central banks have purchased more than one ton.
The main reasons for global central banks to snap up gold are: on the one hand, when global inflation rises, gold is often a good tool to resist inflation; On the other hand, central banks are getting rid of their dependence on the dollar. The demand of global central banks has helped gold resist the pressure brought by the soaring yield of US bonds and the strength of the US dollar. At present, its price hovers around slightly below $2,000 per ounce.