As the hottest broad-based track currently, the shares and scale of the CSI A500ETF have been soaring all the way, attracting more than 60 mutual fund institutions to "participate in the battle", and all kinds of funds are also accelerating their entry. Among them, there are also private equity institutions actively scrambling for positions. Recently, with the successive listing of the CSI A500ETF, many private equity funds have appeared in the top ten shareholders list of the products. In the latest prospectus of the BOE CSI A500ETF, there are three private equity products among the top ten shareholders, holding a total of over 60 million shares. Previously listed A500ETFs under fund companies such as Huaan, Huaxia, E Fund, Jiashi, Yinhe, Jingshun Changcheng, Morgan, Nanfang, and Guotai also include private equity funds in their top ten shareholders list. According to incomplete statistics, the private equity holdings of the CSI A500ETF fund shares have exceeded 500 million. "From the current situation, the scale of private equity funds in the CSI A500ETF series of products is far more than this. Moreover, as the scale of various CSI A500ETFs continues to grow, private equity participation in the ETF market-making process is also increasing in breadth and depth, and the corresponding holdings and shares are also growing." A head of a major mutual fund institution revealed that currently, some fund companies and private equity institutions have formed close cooperation in the ETF market-making process, which is an indispensable part of their ETF business model, not only in the CSI A500ETF but also in other products. Private equity buying into the CSI A500ETF The CSI A500ETF, which has been sought after by various funds, is now a "hot potato" in the eyes of many private equity firms. In the recent prospectuses of various CSI A500ETFs released successively, the presence of private equity funds has been revealed in the top ten shareholders list of many products. For example, in the prospectus of the BOE CSI A500ETF released on November 25th, two products under Shanghai Binghao, "Binghao Qiandong 1" and "Binghao Balanced Allocation 1", and "Hezheng Tonghe 6" under Beijing Hezheng have all advanced into the top ten shareholders list of the product, holding a total of over 60 million shares, accounting for a total of 3% of the total shares. From the shareholder structure, the BOE CSI A500ETF is not a product dominated by institutions. As of November 21st, institutional investors of the product held 25.81% of the total shares, while individual investors held 74.19% of the total shares. Similarly, the Huaan CSI A500ETF also has a similar situation. As of November 8th, the well-known private equity company Panjing Investment's "Panjing Tongkui 2nd Period", as well as three private equity funds under Shenzhen Yingfuhui Zhi, "Yingfuhui Zengxin Tianli 19 1st Period", "Yingfuhui Zengxin Tianli 19" held a total of 1.04% of the Huaan A500ETF. Looking at previous data, the CSI A500ETF has been highly sought after by private equity funds this year. According to incomplete statistics, the top ten shareholders disclosed in the prospectuses of the E Fund, Jiashi, Yinhe, Jingshun Changcheng, Morgan, Nanfang, and Guotai A500ETFs listed this year have private equity holding shares totaling over 500 million. According to the details of the top ten shareholders disclosed in the Yinhe CSI A500ETF prospectus, several private equity firms collectively hold 106 million shares of the product, while the Jiashi CSI A500ETF and Jingshun CSI A500ETF are also held by private equity firms with 59.12 million shares and 50.94 million shares respectively. At the same time, the Morgan CSI A500ETF and Nanfang CSI A500ETF are held by private equity firms with more than 40 million shares each, while the Guotai CSI A500ETF and E Fund CSI A500ETF are held by private equity firms with more than 30 million shares each, and the Huitianfu CSI A500ETF, Fuguo CSI A500ETF, and GF CSI A500ETF are all held by private equity firms with more than 10 million shares each. "From the current situation, the scale of private equity funds holding the CSI A500ETF series of products is far more than this. Moreover, as the scale of various CSI A500ETFs continues to grow, private equity participation in the ETF market-making process is also increasing in breadth and depth, and the corresponding holdings and shares are also growing." A head of a leading mutual fund institution in North China revealed that currently, some fund companies and private equity institutions have formed close cooperation in the ETF market-making process, which is an indispensable part of their ETF business model, not only in the CSI A500ETF but also in other products, and some mutual funds are exploring cooperation models with these institutions. In addition, many private equity firms engage in arbitrage operations using ETFs. Private equity buys nearly 3 billion shares of ETFs listed this year Overall, as of November 22nd, a total of 126 private fund managers have entered the top ten shareholders list of 107 ETFs listed this year, with a total holding of 2.957 billion shares. Small private equity is the main holder of ETFs. Data from the Private Fund Ranking Network shows that 24 privately owned funds with a total size of 5-10 billion hold the most shares of ETFs listed this year, totaling 819 million shares. In addition, 48 privately owned funds with a total size of 0-5 billion hold a total of 438 million shares of ETFs, accounting for a total proportion of 42.51%. Large-scale private equity holds the most shares on average. 10 private funds with a size of over 10 billion hold a total of 483 million shares of ETFs listed this year, with an average of 0.48 million shares per fund. Specifically, there are 68 private equity firms holding at least 10 million shares of ETFs listed this year, with 55 holding between 10 million and 50 million shares.7 companies hold ETF shares ranging from 50 million to 100 million shares, while 6 companies hold ETF shares of no less than 100 million shares.Among them, Shanghai Hexi Private Equity, with a management scale of 50-100 billion yuan, holds 2.99 billion shares of listed ETFs, ranking first in the year; in addition, private equity firms such as Hengtai Rongan, Xuanyuan Investment, Shanghai Chorui Private Equity, Shandong Tianbao, and Hengde Capital hold ETF shares of no less than 100 million shares. Among private equity managers holding ETF shares of no less than 50 million shares, there are 3 private equity firms with a scale of over 100 billion yuan, namely Xuanyuan Investment, Hengde Capital, and Yingshui Investment, holding ETF shares of 200 million shares, 125 million shares, and 58 million shares respectively. This article is reprinted from "Cailianshe". GMTEight Editor: Li Fo.