Core Viewpoint - The insurance asset management industry in China shows a significant rebound in investment confidence for equity investments, with the confidence index rising from 50.12 in Q2 to 56.11 in Q3 2025, indicating a more optimistic outlook for the market [1][2]. Investment Confidence Index - The confidence index for equity investments among insurance institutions is reported at 56.11, a notable increase from 50.12 in the previous quarter [2]. - Predictions for equity investment styles indicate a slight increase or stability in growth style (51% and 31%), value style (51% and 41%), large-cap style (49% and 42%), and small-cap style (40% and 35%) [2]. Factors Influencing Confidence - The deepening of the long-cycle assessment mechanism for insurance funds is a crucial factor in the increased confidence, as highlighted by industry experts [2]. - The Ministry of Finance's recent notification adjusts performance evaluation indicators for state-owned commercial insurance companies, enhancing the tolerance for market fluctuations and boosting confidence in equity investments [2]. Market Conditions and Trends - The continuous decline in market interest rates poses challenges to traditional investment models for insurance companies, making equity assets more attractive for stable long-term returns [3]. - As of the end of Q1, the stock holdings of life insurance companies reached a market value of 2.65 trillion yuan, with long-term equity investments around 2.60 trillion yuan, both exceeding 8% of their total assets [3]. Investment Focus Areas - High dividend and high-tech sectors are identified as key areas for equity investment by insurance funds, driven by the nature of liability funds and the current policy direction [4]. - Insurance funds have shown a preference for stable dividend-paying stocks, particularly in the banking sector, where holdings reached approximately 265.8 billion yuan by the end of Q1 [4]. Policy Support for Technology Investments - Recent policies encourage insurance funds to increase support for technology sectors, including artificial intelligence and semiconductors, with investment limits raised for venture capital funds [5]. - The strategic focus on high dividend and technology growth sectors is reflected in the extensive research conducted by insurance institutions on over 1,400 A-share listed companies [5].
险资三季度权益投资信心指数回升 重点布局高股息、高科技板块
Zheng Quan Ri Bao·2025-07-18 16:10