【Financial Str. Release】Second batch of funds tracking the BSE 50 Index gradually established since late April

This photo taken on Feb. 17, 2023 shows a view of the Beijing Stock Exchange in Beijing, capital of China. (Xinhua/Wang Quanchao)

BEIJING, May 25 (Xinhua) -- The second batch of funds tracking the Beijing Stock Exchange50 Index (BSE 50 Index) gradually approached investors in the past month by May 23, reported Xinhua-run China Securities Journal on Thursday.

The four fund products raised in total 1.096 billion yuan of fund to invest in the constituents of the BSE 50 Index, which are 50 large and liquid stocks traded on the BSE dedicated to serving innovative small- and medium-sized enterprises (SME).

They come respectively from Bosera Asset Management Co., Ltd., ICBC Credit Suisse Asset Management Co. Ltd., Wanjia Asset Management Co., Ltd. and Pengyang Asset Management Co., Ltd.

Currently, more and more publicly-offered funds have been participating in stock trading on BSE, which helps lower the investment threshold and brings more capital to improve the liquidity of the stock exchange.  

On May 23, Bosera Asset Management Co., Ltd. announced establishment of its fund product tracking the BSE 50 Index, with the initial fund to be raised at around 300 million yuan.

Previously since November 21, 2022, information releasing for real-time market trend of the BSE 50 Index kicked off in a bid to spur investment in stocks on the Beijing-based bourse.

By November 25, 2022, the first batch of eight funds tracking the BSE 50 Index had been approved and related sales started only in four days later.

Since May this year, the BSE 50 Index has been recovering. On Wednesday, turnover of all stocks traded on BSE exceeded two billion yuan and the indicator has been above one billion yuan for more than one month since April 24.

Market watchers said that valuation of stocks listed on the BSE might embrace more rebounding opportunities in future under multiple positive factors such as related rules optimization, improvement in quality of listed companies, increases of listed companies and investors, and inclusion of BSE stocks into the cross-market indices system of certain securities investment index makers in China. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)