把握科技时代机遇 机构人士共探长期投资之道

Core Insights - The event highlighted the increasing importance of asset allocation in the context of a changing global economic landscape and heightened market volatility, with a focus on integrating technology investments for long-term stable returns [1][2] Group 1: Technology Investment Trends - The innovative pharmaceutical sector is experiencing a significant revaluation globally, driven by mergers and acquisitions (M&A) and licensing deals, with major international companies lagging behind Chinese firms in certain advanced therapeutic areas [2] - The AI sector is also gaining traction, with expectations of a complete supply chain emerging in China, similar to Apple's model, and embodied intelligence being identified as a transformative force in addressing global aging issues [2][3] Group 2: Asset Allocation Strategies - Effective asset allocation requires understanding the covariance relationships between different assets, particularly in the technology sector, where traditional historical data may not apply [3] - Insurance funds are increasing their allocation to technology assets due to their long investment horizons, which align well with the long cycles of technological innovation, and the need for matching long-duration returns [3][4] Group 3: Market Outlook - The technology sector is expected to remain a core focus for capital markets, with private equity funds poised to capture structural opportunities in niche areas [4] - Despite the volatility in the innovative drug sector, there is a belief that the industry trend will persist for 2 to 3 years, making it a point of interest for investors [4] - In the commodity market, there are signs of recovery in CTA strategies, with expectations for continued opportunities in sectors such as electricity, black metals, non-ferrous metals, and crude oil [5]