On June 28, the first batch of ETF products in China to track the CSI Shanghai Environmental Exchange Carbon Neutral Index (hereinafter referred to as the "Carbon Neutral Index") was officially approved.Eight fund companies with leading passive investment management capabilities, including E Fund Fund, GF Fund, and China Universal Fund, will have a taste of the "head to eat soup", and the Shanghai and Shenzhen exchanges will each have four carbon-neutral ETF products listed.This also means that in the future, investors can participate in carbon-neutral investment through public funds, and "share with one click" the long-term dividends of outstanding industries.
The Shenzhen Stock Exchange stated that the approval of the first batch of carbon-neutral ETFs in the Shenzhen Stock Exchange will help to further enrich the "dual-carbon" fund sector in Shenzhen and guide the flow of market funds to the low-carbon sustainable development field.
On June 29, a reporter from Securities Daily learned from a number of public fundraisers and channel people that after the first batch of carbon-neutral ETFs was approved, various companies have quickly started the sale of relevant carbon-neutral ETF products, or will be finalized. It will be issued on July 4th (next Monday). The fundraising period is three days or five days. The specific issue time is subject to the fund company's offering announcement.
Product settings
showing four characteristics
During the "14th Five-Year Plan" period, ecological environment construction has entered a critical period in which carbon reduction is the key strategic direction, the synergy of pollution reduction and carbon reduction is promoted, and the quality of the ecological environment is changed from quantitative to qualitative.On January 20 this year, the Shanghai Stock Exchange, Shanghai Environment and Energy Exchange and China Securities Index Co., Ltd. jointly released the "China Securities Shanghai Environmental Exchange Carbon Neutral Index".The index realizes the effective combination of the carbon market evaluation system and the capital market, which is conducive to guiding the flow of social capital to low-carbon transformation enterprises.
Since then, many fund companies have intensively declared ETFs related to carbon neutrality.On June 28, 8 fund companies including E Fund Fund, GF Fund, China Universal Fund, Wells Fargo Fund, China Southern Asset Management, China Merchants Fund, ICBC Credit Suisse Fund, Dacheng Fund and other eight fund companies officially obtained the carbon neutral ETF of China Securities and Shanghai Environmental Exchange. "Birth Certificate", the first batch of carbon-neutral ETF products has entered the countdown.
According to the reporter's understanding, after the product was approved, 8 fund companies have quickly started the sale of carbon-neutral ETF products."Investing in the general direction of the era, grasping opportunities for carbon neutrality", "Investing in a high-prosperity long-term track to meet the 'carbon' future", "Embrace the energy revolution, and brave the double-carbon wave", "One-click layout of carbon neutral investment outlets" Such keywords point to the selling point of carbon-neutral ETFs.
Judging from the current product settings disclosed by the fund company, these 8 products have four characteristics: first, they are all named after "China Securities Shanghai Environmental Exchange Carbon Neutral ETF"; second, the products belong to stock funds, which are passive The expected return and expected risk level of invested stock index funds are higher than those of bond funds and money market funds; thirdly, in terms of investment scope, the proportion of assets invested by the fund in the underlying index constituent bonds and alternative constituent bonds shall not be lower than the net asset value of the fund 90% of the assets of the non-cash fund, and no less than 80% of the non-cash fund assets; Fourth, the fund operation method is open-ended transaction.
Carbon Neutrality Index
A cumulative increase of 129.5% in the past three years
For the first batch of carbon neutral ETF products, Luo Guoqing, head of the index investment department of GF Fund, told the Securities Daily reporter, "The CSI Shanghai Environmental Exchange Carbon Neutral Index is based on two areas of deep low carbon and high carbon emission reduction. Select the companies that have contributed to the realization of the "dual carbon" goal to form an index sample, and assign the number and weight of stocks in the two fields according to the carbon neutral industry emission reduction model, reflecting the listed companies in the Shanghai and Shenzhen markets that have made greater contributions to carbon neutrality the overall performance of the securities.”
After calculation, the CSI Shanghai Environmental Exchange Carbon Neutral Index has increased by 129.5% in the past three years, the annualized rate of return is 31.9%, and the annualized volatility is 23.6%, showing the characteristics of high rate of return and high Sharpe ratio. .
"The CSI Shanghai Environmental Exchange Carbon Neutrality Index is highly representative, covering all areas related to carbon neutrality. The issuance of relevant funds that track the index will lead green investment and help introduce and cultivate a focus on carbon neutrality. Domestic and foreign professional investment institutions with investment themes." Industry insiders told the "Securities Daily" reporter.
"Fund products tracking the index have been wholesaled, providing new investment targets for investors who are interested in green investment, and will further enhance the ability of the capital market to serve the green transition, helping to guide institutional investors and ordinary investors to make green investments. Investment." Luo Guoqing told the "Securities Daily" reporter.
Regarding the investment and research team for carbon neutral ETF products, the reporter learned that the proposed fund manager of China Merchants Fund is Xu Rongman, who currently manages many index products such as China Merchants China Securities Biomedical Index LOF and China Merchants China Securities Battery Theme ETF.
In fact, in recent years, fund companies have attached great importance to investment opportunities under the "dual carbon" strategic goal.For example, GF Fund has successively deployed "Carbon Neutral Leading ETF", "Battery ETF" and "Electricity ETF"; and China Universal CSI New Energy Automobile Industry Index LOF has become a product with greater influence in the field of new energy.According to the reporter's statistics, there are at least 115 themed fund products in the whole market fund that contain words such as "green", "environmental protection", "ESG" and "low carbon".
A reporter from Securities Daily learned from the Shenzhen Stock Exchange that the Shenzhen Stock Exchange will promote the construction of a green financial service system in an orderly manner, continue to expand the low-carbon enterprise service chain, further enrich investment varieties such as low-carbon fund products and green bond product sequences, and guide financial resources to green Concentrate in low-carbon fields, establish a sustainable exchange brand, and make positive contributions to the realization of the goal of "carbon peaking and carbon neutrality".
Our reporter Wang Siwen
