Xin Lang Cai Jing·2025-09-01 12:20Core Viewpoint - The article highlights the performance and investment strategy of the Honghu Fund, managed by Xinhua Insurance, which has shown significant growth and strategic positioning in the market through long-term investments in high-dividend stocks [1][2][3]. Group 1: Fund Performance - As of June 30, 2025, the total assets of Honghu Fund reached 57.112 billion yuan, with net assets of 55.684 billion yuan and a total comprehensive income of 5.684 billion yuan [1][3]. - The Honghu Fund has fully invested its initial capital of 50 billion yuan, achieving a performance that is lower in risk and higher in returns compared to benchmarks [3][9]. - The fund's operating income for the period was 1.203 billion yuan, with a net profit of 968 million yuan [3]. Group 2: Investment Holdings - The Honghu Fund is among the top ten shareholders of Yili Group, Shaanxi Coal, and China Telecom, with a combined market value of 12.04 billion yuan as of the end of Q2 2025 [1][5]. - The fund increased its holdings in Yili Group from 1.88% to 2.42%, ranking 7th among its top shareholders, and in Shaanxi Coal from 1.04% to 1.2%, ranking 5th [5][7]. - The Honghu Fund's second phase has entered the top ten shareholders of China National Petroleum and China Shenhua, while the third phase has acquired shares in Sinopec [1][8]. Group 3: Investment Strategy - The Honghu Fund's investment strategy focuses on long-term holdings and low-frequency trading to achieve stable dividend income [2][8]. - The fund targets large listed companies that are constituents of the CSI A500 index, aligning with the insurance industry's need for stable, high-dividend assets [2][7]. - The trend indicates that insurance capital is increasingly utilizing private equity as a significant channel for investment, particularly in high-dividend stocks, which are seen as a safety net in the current market environment [9][10].