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“长钱”入市步伐提速 保险机构积极参与长期投资试点
Zhong Guo Zheng Quan Bao·2025-06-04 20:35

Core Viewpoint - The long-term investment pilot program for insurance funds is progressing, with several insurance companies launching new private equity funds to enhance capital market participation and optimize asset allocation [1][2][5]. Group 1: Investment Fund Developments - China Pacific Insurance has launched the Tai Bao Zhi Yuan No. 1 private equity fund with a target size of 20 billion yuan, marking it as one of the second batch of long-term investment pilot funds [1][2]. - The total approved and proposed pilot scale for the long-term investment program has reached 222 billion yuan across three batches [2]. - Other insurance companies, including China Life and New China Life, have also received approval for new funds, with China Life and New China Life establishing the Hong Hu Fund Phase II with a size of 20 billion yuan [2][3]. Group 2: Stock Investment Growth - As of the end of Q1 2025, the stock investment balance for life insurance companies reached 2.65 trillion yuan, an increase of 377.5 billion yuan from the end of 2024, representing 8.43% of their total investment [4]. - Property insurance companies reported a stock investment balance of 171.9 billion yuan, up 11.8 billion yuan from the end of 2024, accounting for 7.56% of their total investment [4]. - Insurance companies have been actively increasing their positions in high-dividend and technology innovation stocks, with a notable rise in equity investments [4]. Group 3: Long-term Performance Assessment - The shift towards long-term performance assessment mechanisms is expected to enhance the investment enthusiasm of insurance funds, allowing for a greater focus on equity investments [5][6]. - Many insurance institutions are optimizing their assessment mechanisms to emphasize long-term performance, which is anticipated to support the stable operation of capital markets [5][6]. - Insurance companies have conducted extensive research on over 1,300 A-share listed companies, focusing on sectors such as electronics, pharmaceuticals, and machinery [6].