"CN100 Index Renamed to CNA100, Expansion of CN 'A Series' Indices"

Following the CSI 300 Index and the CSI 500 Index, the CSI "A Series" of indices has welcomed a new member. On October 11th, CSI Index Co., Ltd. announced that the core asset broad-based index of A-shares, the CSI 100 Index, will be renamed to the CSI A100 Index on October 28th. After the adjustment takes effect, ETFs, ETF Connect, and other products currently tracking the CSI 100 Index will modify and adjust fund names, trading abbreviations, and other product information in accordance with relevant regulatory arrangements.

In the recent strong market performance of A-shares, CSI 100 ETF products have attracted a significant amount of capital. Industry insiders have indicated that the constituent stocks of the CSI A100 Index gather the top 100 industry leaders in A-shares, comprehensively representing the core assets of A-shares, with characteristics such as high new economy content and balanced industry allocation.

The CSI A100 Index is coming

The CSI 100 Index was launched in May 2006 and was optimized in June 2022. On October 11th, to better highlight the positioning of the index and enrich the characteristic broad-based index system, CSI Index Co., Ltd. announced that the name and abbreviation of the CSI 100 Index will be adjusted to "CSI A100 Index" and "CSI A100" respectively on October 28th; after the renaming, the compilation method of the CSI A100 Index remains unchanged.

It is reported that the CSI A100 Index has strong industry representativeness and balance. The latest sample covers about 30% of the free float market value of each CSI primary industry, with the combined weight of the industrial, information technology, communication services, and healthcare industries being approximately 48%. The index samples perform well in terms of fundamentals and ESG practices, with an average return on equity of 11% and a revenue growth rate of 8.8% over the past five years, both higher than the market average. Nearly 70% of the samples have paid dividends for more than ten consecutive years, and nearly 80% of the samples have a CSI ESG rating of A or above. As of September 2024, the total market value of the index samples is about 23 trillion yuan, with a median market value of 120 billion yuan.

CSI Index Co., Ltd. stated that the CSI "A Series" characteristic broad-based index system has preliminarily taken shape, including indices such as the CSI A50, CSI A100, and CSI A500, reflecting the performance of representative companies in various industries of A-shares from an industry balance perspective, depicting the structural changes in the capital market and macro industrial transformation from multiple dimensions, and providing tools for investors to allocate representative companies in A-shares.

Huabao CSI 100 ETF fund manager Chen Jianhua said that the CSI A100 Index is one of the most representative blue-chip broad-based indices in China. The CSI A100 Index has a stronger industry representativeness in the A-share market, with an industry distribution basically consistent with the overall A-share industry distribution. Compared to other core broad-based indices, the CSI A100 Index has a higher weight in the new economy industry; the CSI A100 Index focuses on the core assets of A-shares, selecting large and strong companies, with industry leaders included; the CSI A100 Index is the first core broad-based index in China to include ESG in its consideration range.

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It is reported that after the renaming, ETFs and their connected funds tracking the CSI 100 Index will also modify and adjust fund names, trading abbreviations, and other product information in accordance with relevant regulatory arrangements.

CSI "A Series" ETFs continue to attract funds

With the official renaming of the CSI 100 Index to the CSI A100 Index, the fund products tracking the CSI "A Series" indices have also expanded.Wind data indicates that as of October 11th, there are a total of 10 ETFs tracking the China A100 Index across the market, with major fund companies such as Easy Fund and China AMC having their own strategies, with a combined scale approaching 4 billion yuan. Among them, the scale of Huabang China A100 ETF is 2.639 billion yuan, which is currently the largest ETF tracking the China A100 Index, accounting for a high proportion of 66.19% of the total scale of all China A100 ETFs.

In addition to ETFs, there are also 7 linked funds, 3 index enhancement funds, and 6 ordinary OTC index funds tracking the China A100 Index, with a combined scale of 2.634 billion yuan.

Recently, the A-share market has been soaring rapidly, and global funds have been using ETFs to layout core assets in the A-share market, with the China "A Series" broad-based index receiving much attention from the market. In addition to the first batch of China A500 ETFs with a first offering of 20 billion yuan, the China A100 ETF and China A50 ETF that have been listed have also attracted a large amount of capital inflow.

Wind data shows that as of October 10th, since September, the total share of China A100 ETF has increased by 121 million, and the net inflow of funds is about 105 million yuan, calculated according to the transaction average price during the period. Among them, the net inflow of funds for Huabang China A100 ETF exceeded 100 million yuan. At the same time, the total share of China A50 ETF increased by 2.281 billion, and the net inflow of funds was as high as 2.371 billion yuan, estimated according to the transaction average price during the period. Among them, the net inflow of funds for Easy Fund China A50 ETF exceeded 1 billion yuan, and the net inflow of funds for Dacheng China A50 ETF exceeded 900 million yuan.

Industry insiders said that at the beginning of this year, the China A50 Index was released, and 10 fund companies reported the China A50 ETF, which started to be issued on February 19th. In September, the first batch of 10 China A500 ETFs set off a wave of issuance, all of which ended the fundraising in advance and completed the top-grade fundraising of 20 billion yuan. Now, with the renaming of the China A100 Index, the China "A Series" broad-based index is expected to continue to attract market attention and become the "new business card" representing China's core assets.