1.Today's fund news quick

Private equity firms such as Hangzhou Yuyao and Shenzhen Huisheng were investigated by the Securities Regulatory Commission

An announcement issued by the Securities Regulatory Commission on its official website shows that recently, after investment risks such as Beijing Huasoft New Power Private Equity Fund Management Co., Ltd. exploded, the public paid close attention. Preliminary judgment is that relevant personnel control various agencies such as Hangzhou Yuyao and Shenzhen Huisheng, and have multiple layers of nested investments. There are situations such as false publicity, false information submission, and illegal credit disclosure, etc., and they may also be suspected of illegal and criminal acts. The Securities Regulatory Commission decided to open a case for investigation and strictly handle illegal and irregularities.

Overdue payment of Xianheng International's 90 million yuan trust product

According to Xianheng International's announcement on the evening of the 28th, the two Zhongrong Trust products purchased by the company were overdue for payment. As of the disclosure date of this announcement, the company has received a total investment principal of RMB 0.0 million from Rongrui No. 1, investment income of RMB 0.0 million, investment capital of trust products of RMB 50 million and investment income that has not yet been recovered; it has received a cumulative subsidy of RMB 0.0 million in investment capital of RMB 222, investment income of RMB 0.0 million, investment income of RMB 40 million in trust products and investment income that have not yet been recovered.

The fund recently surveyed 19 companies

On November 28, a total of 34 companies were surveyed by institutions. According to the type of research institution, the fund participated in the research activities of 19 companies. Among them, 5 or more funds piled up to research 4 companies. BOE A received the most attention, with 83 funds participating in the survey; Beautiful Healthcare and Vitec were collectively surveyed by 51 and 8 funds respectively.

144 listed companies participated in industrial funds during the year

As of November 28, 144 A-share listed companies have participated in private equity and other industrial funds. On the one hand, most companies form a synergistic effect with the development of their main business through equity investment; on the other hand, some companies invest in equity across borders to cultivate new profit points.

The size of private equity funds at the end of October was 20.59 trillion yuan

On November 28, data released by the China Securities Investment Fund Industry Association showed that as of the end of October 2023, there were 153,387 surviving private equity funds, with a surviving fund size of 20.59 trillion yuan. As of the end of October 2023, there were 21,720 private equity fund managers, 8,479 private equity investment fund managers, 12,970 private equity and venture capital fund managers, 9 private equity asset allocation fund managers, and 262 other private equity fund managers. In October 2023, the number of newly registered private equity funds was 821, with a new filing scale of 27.222 billion yuan.

China Galaxy and others set up private equity firms with 1 billion yuan

Recently, Fengrui Equity Investment Partnership (Limited Partnership) in Deqing County was established. The executive partner is Xu Ang, with a registered capital of 1 billion yuan. The scope of business includes: equity investment; private equity investment fund management, and venture capital fund management services. The company is co-owned by Galaxy Innovation Capital Management Co., Ltd., a wholly-owned subsidiary of China Galaxy.

Hedge fund boss Ackman bets that the Fed will cut interest rates in the first quarter as soon as possible

Ackman, founder of hedge fund Pershing Square Capital Management, said the Fed is likely to cut interest rates in the first quarter as soon as possible. According to swap market data, traders have fully absorbed the expectations of interest rate cuts in June. Among them, the possibility of cutting interest rates in May is about 80%.

Saudi sovereign fund PIF is financing for the first time in the form of export credits

For the first time, the Saudi sovereign wealth fund, the Public Investment Fund (PIF), was funded in the form of export credits. Recently, PIF received a loan of 5 billion US dollars from a consortium of nine international lenders, underwritten by the Korea Trade Insurance Company (K-SURE). The term of this loan was 13 years, initially set at US$3 billion (nearly 11.2 billion Saudi riyals), then increased to US$5 billion (nearly 18.7 billion Saudi riyals).

II.Today's ETF market resumed

The three major A-share indices closed down collectively today. By the close, the Shanghai Index was down 0.55%, the Shenzhen Index was down 0.91%, the Beijing Stock Exchange 50 was down 7.32%, the GEM Index fell 1.06%, and the turnover of the Shanghai and Shenzhen markets was 775.1 billion yuan. More than 3,900 individual stocks in the two markets fell. The net sales of capital to the north were 5.08 billion yuan. On the market, sectors such as precious metals, Pinduoduo concept stocks, and high-pressure fast charging registered the highest gains; sectors such as real estate development and traditional Chinese medicine were shining green.

In terms of ETFs, Hong Kong consumer stocks declined across the board, while the Hong Kong Consumer 50 ETF and H Share ETFs both fell 3.8%. Real estate stocks weakened, and real estate ETFs fell 3%. Healthcare stocks pulled back, and Hang Seng Pharma ETF fell 3.1%.

The performance of gold stocks was active, and Yongying Fund's gold stock ETF rose 1.96%. Education stocks generally rose, and the Bosch Education ETF rose 1.13%. Coal stocks rose, and Cathay Pacific's coal ETF rose 0.98%.

III. Today's ETF trading situation

Today, 75 ETF funds in the entire market rose; only 3 rose more than 1%, and a total of 755 fell.

In terms of turnover, the total turnover of ETF funds in the entire market today was 109.214 billion yuan, an increase of 16.724 billion yuan over the previous trading day. There were 15 ETFs with a turnover of more than 1 billion yuan, and 105 ETFs with a turnover of more than 100 million yuan.

Among stock ETFs, Huaxia Fund's Shanghai Stock Exchange 50 ETF topped the trading list, with a turnover of over 3 billion yuan. Huaxia Fund's Hang Seng Technology Index ETF has a turnover of nearly 3 billion yuan, ranking second. Today, 2 Shanghai and Shenzhen 300 ETFs and 3 science and innovation 100 ETFs are on the list.

Looking back at the changes in the size of ETFs on the previous trading day, among the non-currency ETFs on November 28, the three products that increased the most shares were:

The Huaxia Shanghai Stock Exchange 50 ETF increased fund shares by 344 million shares, and the net inflow reached 826 million yuan; the share exceeded 28 billion shares, reaching a new high for listing.

The Huaxia Shanghai Securities Science and Technology Innovation Board 100 ETF increased fund shares by 265 million shares, with a net inflow of 260 million yuan.

The Huaxia Hang Seng Internet Technology ETF increased its fund share by 160 million shares, with a net inflow of 62 million yuan.

The three ETFs with the most obvious decline in share are:

Yifangda's Shanghai-Shenzhen 300 medical and health ETF reduced fund shares by 252 million shares, with a net outflow of 109 million yuan.

The fund share of the Huaxia National Securities Semiconductor Chip ETF was reduced by 105 million shares, and the net outflow was 102 million yuan.

The Huaxia Venture Capital Growth ETF reduced fund shares by 92 million shares and a net outflow of 38 million yuan.

IV. Review of today's market

Today, the A-share market fluctuated and weakened throughout the day, and the three major indices collectively closed down. By the close, the Shanghai Index fell 0.55% to 3021 points, the Shenzhen Stock Exchange Index fell 0.91%, and the GEM Index fell 1.06%. More than 3,900 individual stocks in the two markets fell.

Quantitative energy increased slightly. The turnover of the two markets was 775 billion yuan, up 2.2 billion dollars from the previous trading day. The net sales of capital to the north were 5.08 billion yuan throughout the day.

On the market, the Beijing Stock Exchange 50 Index plummeted 7.32%, and more than 120 individual stocks on the Beijing Stock Exchange fell by more than 10%.

Pinduoduo concept stocks bucked the trend and became active, with Tianyin Holdings, Ruohanchen, and Jiacheng International rising and halting. According to the news, Pinduoduo's performance in the third quarter of 2023 far exceeded market expectations, boosting the company's stock price by more than 18%, and its market value approaching Ali.

Third-generation semiconductor concept stocks rose, while Minde Electronics, Ganhua Science and Technology, and Tianfu Energy rose and stopped. According to the news, Yu Chengdong said that all Zhijie S7 series are equipped with 800V silicon carbide high-pressure platforms.

Charging pile concept stocks opened higher, and Yonggui Electric, Li Hexing, and Taiyong Changzheng rose and stopped. According to the news, on November 28, Yu Chengdong said that in terms of Hongmeng Zhixing's charging service, the country has covered more than 340 cities, 4,500 high-speed charging stations, and 700,000 public charging guns.

On the downside, the real estate sector continues to adjust, and the development of urban construction is close to falling to a standstill.

Today, the general decline in the market has been repeated. Volume capacity has not been effectively amplified, and the short-term game on the Beijing Stock Exchange has also cooled down somewhat. Guosheng Securities believes thatFrom a strategic point of view, trading volume is a key factor in the current market differentiation between strength and weakness; only a market with moderate volume can bring about a virtuous cycle. If short-term market turnover remains sluggish, the lack of profit effect will trigger market adjustments, and the index may once again seek support downward.

5. Latest developments in fund products