After the National Day holiday, the Beijing Stock Exchange's public offering products were intensively updated, and funds with a 3-month holding period were issued one after another. According to the announcement, the “Wells Fargo Beijing Stock Exchange Selected 3-Month Holding Period Hybrid Securities Investment Fund” began fundraising on October 8 and ended on October 21. Starting next week, Huaxia Fund, Huaxia Fund, Harvest Fund, and Southern Fund will also start selling this themed fund one after another. They will all be on sale starting October 12 and ending at the end of this month. The maximum amount raised by each of the above funds is 500 million yuan. Earlier, E-Fangda began raising funds with a 3-month holding period in late September. The original public sale period was from September 14 to 24, and was eventually extended until September 30 due to overfunding. Prior to the introduction of the aforementioned fund products, active equity funds on the Beijing Stock Exchange market mainly used a two-year fixed opening model. “Compared to the lockdown period of the past two years of regular opening, the 3-month holding period has greatly reduced time costs and filled the product gap in the market.” Zhu Weiyi, vice president of Huaxing Certified Public Accountants, said. There are a total of 9 themed funds with a three-month holding period on the Beijing Stock Exchange that were reported earlier. In addition to the 6 fund managers mentioned above, they also involved Guangfa Securities, CITIC Construction Investment Fund, and Dongcai Fund. According to the industry, as themed funds are sold one after another, the Beijing Stock Exchange market will usher in important incremental capital. According to estimates by Open Source Securities, nine companies held funds for three months or brought 4.5 billion yuan to 13.5 billion yuan in incremental capital to the market.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.