© Reuters.
In a recent development, eight Chinese Exchange-Traded Funds (ETFs) tracking the newly launched CSI 2000 index have shown disappointing performance. Despite the anticipation that the index would stimulate domestic equities, these ETFs managed to raise an average of RMB574 million ($78.5 million) each in their initial public offerings (IPOs), falling short of the RMB668 million September average for all ETFs.
Leading the pack were China Universal Asset Management, E Fund, and Guotai Asset Management with RMB1.2 billion, RMB812 million, and RMB600 million, respectively. However, Huatai-PineBridge, Harvest Fund Management, and GF Fund Management lagged behind. Other underperformers included China Asset Management, China Southern Fund Management, and Fullgoal Asset Management.
The CSI 2000 index was introduced with the intention of incorporating smaller market-cap securities that are not covered by the CSI 300 Index, CSI 500 Index, or CSI 1000 Index. However, since its inception, the index has seen a decline of 3%.
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