券商中国·2025-06-28 13:18Core Viewpoint - The second batch of insurance fund long-term investment pilot projects has officially commenced, with TaiKang Asset being the first institution to announce its investment activities [1][3]. Group 1: Investment Initiatives - TaiKang Asset has completed its first investment transaction through its wholly-owned private equity fund management company, TaiKang Stable [2][3]. - The long-term investment pilot allows insurance companies to invest in private equity funds, primarily targeting the secondary market for stocks and holding them long-term [3]. - TaiKang Life and TaiKang Asset were approved by the financial regulatory authority in January to participate in the long-term investment pilot, with an approved amount of 12 billion yuan [3]. Group 2: Investment Strategy - TaiKang Stable's investment strategy focuses on three main directions: high dividend assets, industrial upgrades, and counter-cyclical buying [4]. - The strategy emphasizes fundamental analysis to achieve medium to long-term stable asset appreciation, supporting high-quality economic development and stable capital market operations [4]. - The investment will prioritize sectors with stable operations and consistent dividends, as well as areas aligned with national development strategies, such as high-end manufacturing, artificial intelligence, and biomedicine [4]. Group 3: Pilot Program Expansion - The second and third batches of insurance fund pilot projects are being progressively implemented, with a total of 222 billion yuan approved across three batches [5][7]. - Eight insurance companies have been approved in the second batch, with a total scale of 112 billion yuan, while the third batch has a scale of 60 billion yuan [5][7]. - The pilot program aims to facilitate long-term investments by insurance companies, addressing previous barriers and enhancing their equity investment capabilities [7].