China’s Largest AI-Themed ETF Hits Milestone, Reflecting Promising Global Trend and Growing Investor Interest

HONG KONG, Dec. 18, 2023 /PRNewswire/ — As of December 13th, the E Fund CSI Artificial Intelligence Thematic ETF, the largest of its category, reached a milestone with AUM approaching US$617 million. Managed by E Fund Management (“E Fund” or “the Company”), the largest fund management company with offices in mainland China and Hong Kong, this ETF tracks the CSI Artificial Intelligence Index, which composed of 50 leading companies across artificial intelligence value chain in China.

The recent AI hype has sparked a sense of excitement among investors and the E Fund CSI Artificial Intelligence Thematic ETF recorded a remarkable weekly inflow of US$14 million in December.

Globally, the growing momentum of AI was mainly driven by rapid advancement in large language models and expanded hardware opportunities. On November 6th, OpenAI released the new GPT-4 Turbo model which is more capable, supporting a 128K context window, and has knowledge of world events up to April 2023. To help developers scale applications, GPT-4 Turbo demonstrated improvement in lower prices and higher rate limits.

Meanwhile, major breakthrough in hardware devices was observed with the launch of the AI pin, a digital personal assistant housed in a tiny piece of hardware that can clip to a wearer’s clothes. Powered by large language AI models from OpenAI and a Qualcomm Snapdragon processor, the gadget can serve as a smartphone alternative, to send text, take photos and interact with ChatGPT-like virtual assistant.

In China, the trajectory of AI development, particularly regarding self-developed large language models and computing power, is ramping up. The domestic industry’s full potential is yet to be tapped. As supportive policy incentives take shape, fostering an enabling environment for AI-led innovation, it is believed that investors can unlock opportunities with AI-themed ETFs to gain exposure to companies at the forefront of artificial intelligence revolution.

About E Fund

Established in 2001, E Fund Management Co., Ltd. (“E Fund”) is a leading comprehensive fund manager in China with over RMB 3 trillion (USD 420 billion) under management.* It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. E Fund’s clients include both individuals and institutions, ranging from central banks, sovereign wealth funds, social security funds, pension funds, insurance and reinsurance companies, to corporates and banks. Long-term oriented, it has been focusing on the investment management business since inception and believes in the power of in-depth research and time in investing. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers.

Data as of Sep 30, 2023. FX rate is sourced from PBoC as at end of September, 2023.

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