投资中国！养老金巨头出手

Core Viewpoint - The article highlights the increasing interest of European institutional investors in diversifying their portfolios by investing in China, as evidenced by KZVK's recent investment delegation to a Hong Kong asset management firm [1][3][6]. Group 1: Investment Delegation - KZVK, a German pension fund managing €34.1 billion, has entrusted $50 million to Fuqua Asset Management (Hong Kong) for investments in Chinese stocks, covering Hong Kong, mainland China, and US-listed Chinese companies [1]. - Fuqua Asset Management (Hong Kong) is a wholly-owned subsidiary of Fuqua Fund, established in 2012, and holds multiple licenses from the Hong Kong Securities and Futures Commission [1]. Group 2: Institutional Investor Trends - There has been a general slowdown in new investment mandates from overseas institutional investors towards China, with most activity being renewals rather than new allocations [3]. - Some institutions from the UK, Spain, and Italy are preparing to issue tenders for investment mandates in China, indicating a potential shift in interest [3]. Group 3: Global Investment Sentiment - Global investors are seeking more resilient and diversified sources of returns due to concerns over US trade policies, persistent inflation, and rising debt levels [4]. - Wellington Management, a major US asset manager, suggests that despite a decline in US stock dominance, there is significant untapped potential in Chinese equities, with current allocations down 53% from 2020 highs [6]. Group 4: Reasons for Investing in China - The article outlines several reasons for considering investments in China, including attractive market valuations, improving fundamentals, and supportive policies for the private sector [6][7]. - The stabilization of the real estate market and increased fiscal support from local governments are also seen as positive indicators for investment [7].