On August 4, China Europe International Fund (CEIF) submitted its first exchange-traded fund (ETF) product, the CEIF CSI Robot ETF, marking a significant milestone for the firm. With this move, all of the top 20 fund management companies by non-money market fund scale have now established a presence in the ETF market, a rapidly expanding sector with assets under management nearing the 5 trillion yuan mark.
The ETF, which tracks the CSI Robot Index (H30590.CSI), will include securities from system integrators, digital workshop and production line solution providers, automation equipment makers, and automation parts suppliers, as well as other robot-related listed companies. This index aims to reflect the overall performance of the robot industry within China's listed market.
Industry insiders view this development as a strategic step for CEIF, a firm traditionally strong in active management, to potentially pave the way for launching active ETFs. As of the end of the second quarter of 2026, CEIF's active equity management scale reached 272.477 billion yuan, ranking third in the industry. According to Guotai Junan Securities research, the firm's performance over the past decade places it second among 12 major equity-focused asset managers, highlighting its robust active investment capabilities.
On June 17, during the Lujiazui Forum, China Securities Regulatory Commission (CSRC) Chairman Wu Qing explicitly supported the introduction of active ETFs. On the same day, the Shanghai and Shenzhen stock exchanges released business guidelines requiring ETF managers to possess extensive active management experience, stable ETF operation teams, and reliable technical systems. This signals a shift for the ETF market from a "passive tool-based" era to a "strategy-diversified" phase.
With CEIF's entry, competition in the 5 trillion yuan ETF market is intensifying. On one front, a clear oligopoly has formed, with internal rankings shifting. For example, E Fund briefly surpassed China Asset Management in scale, while Guotai Asset Management has climbed to third place after overtaking Southern Asset Management, GF Fund Management, and China Asset Management. On another front, several active equity-focused firms have been entering the ETF space for the first time or after long absences. Aegon-Industrial Fund Management launched its first ETF last year, the 300 Quality ETF, and recently filed for the Guozheng Value 100 ETF. Bank of Communications Schroder Fund Management issued its first ETF in 14 years, the CSI Wise Select Shanghai-Hong Kong-Shenzhen Tech 50 ETF. Orient Securities Asset Management and ABC-CA Fund Management have also recently filed for their inaugural ETF products.
In mid-July, the first batch of 18 active ETFs was submitted for approval. As active ETFs approach launch, the A-share ETF market is transitioning from a "passive tool-based" phase to a "strategy-diversified" one. Beyond active ETFs, innovative products like equity-bond constant ETFs, REITs ETFs, and commodity futures ETFs are also highly anticipated. Many asset managers believe that future product innovation will increasingly revolve around ETFs, which will evolve into the "infrastructure" for novel investment vehicles, drawing more firms into the space.
Industry experts note that while ETFs have historically been viewed as tools for asset growth and risk management, they now serve a more critical role. In the landscape of upcoming innovative products, ETFs have become a crucial "ticket" for fund companies to compete in new product development.