Jinjiwo: What is Yingfu Fund? Is Yingfu Fund reliable?

With the development of the fund market, nowadaysETFFunds have already occupied a large market and play a crucial role. Recently, the first landmark in the development of the capital market in Hong Kong has been achievedETFYingfu Fund has been issued20Years have passed, do investors know what Yingfu Fund is?Today, Jinjiwo is here to explain to investors.

Yingfu Fund is the first fund in the Hong Kong marketETFThe fund is also the most prestigious fund in the Hong Kong capital market, with the securities code02800, on1999year11month12Listed on the Hong Kong Stock Exchange. Its tracking index is the Hang Seng Index, and when investors buy TraHK, they are equivalent to buying a portfolio of securities representing the Hang Seng Index. When buying and selling on the exchange, every500Stocks are in one hand.


20Years have passed, but Yingfu Fund remains the most active trading platform in Hong KongETFone of. Jinjiwo pointed out that Yingfu Fund was not warmly welcomed by investors from the beginning. On the contrary, it repeatedly fell below its net asset value during the offering process, and even went unnoticed until2002year10month15On that day, the last batch of sold fund units by Yingfu Fund finally completed the acquisition. Why is there such a gap?


Actually, this starts with the birth of Yingfu Fund.


I believe every investor is right1998Having gained some understanding of the Asian financial crisis, Soros led the Quantum Fund to speculate and attack the Hong Kong stock market. International funds sold a large number of stocks, causing a huge impact on the Hong Kong stock market. So, the Hong Kong government took the initiative to intervene in the market, usingforeign exchangeFunds buy a large number of Hang Seng Index constituent stocks to maintain stock market stability.


We all know the final result, the Hong Kong stock market has remained stable, but the stocks bought by the Hong Kong government account for a certain percentage of the total market value7%If so many stocks are sold in the market all at once, it will inevitably cause market chaos. So what should we do?Jinjiwo pointed out that after the financial market regained stability, the Hong Kong government1999year11Yue established Yingfu Fund to sell a basket of stocks in an orderly manner, minimizing the impact on the market.


However, at the beginning of the issuance of Yingfu Fund, many investors were still worried that selling so many stocks before would have an impact on the market, so it was not very popular at the beginning of Yingfu Fund's issuance. To this end, the government has provided discounts, bonus shares, and other measures, coupled with many institutional investors buying in, gradually leading to active trading in Yingfu Fund.


At present, the fund manager of Yingfu Fund is State Street Global Investment Management Asia Limited, and the fund custodian is State Street Bank in the United States. The total market value of the fund is as high as825One billion Hong Kong dollars.