入市重点投向，长钱长投制度优化……多家险资巨头发声

Core Viewpoint - The necessity and feasibility of increasing equity asset allocation by insurance funds are emphasized, alongside the importance of optimizing equity asset allocation capabilities and fostering a healthy capital market development environment [1]. Group 1: Value Investment Essence - The essence of equity investment for insurance funds is highlighted as a return to value investment principles, focusing on acquiring assets at reasonable prices for long-term growth [3][4]. - Insurance funds should prioritize investing in "good companies" to achieve "good returns," thereby promoting a shift towards long-term and value investment philosophies in the market [3]. Group 2: Selection Criteria for Investment Targets - Key indicators for selecting investment targets include long-term competitive advantage, sustainable profitability (with metrics like ROE, ROIC, EBITDA, and FCFF), operational stability, and shareholder return capabilities [4]. - These criteria form a framework for ensuring that investment targets meet the long-term and stable appreciation needs of insurance funds [4]. Group 3: Focus Areas for Investment Opportunities - Investment opportunities are identified in new productive forces, new economy sectors, high-dividend low-volatility assets, and overseas expansion of manufacturing and consumer brands [5][6]. - Specific sectors of interest include technology growth areas like AI and robotics, stable traditional industries, and industries with potential for domestic substitution and growth, such as pharmaceuticals and high-value consumables [7]. Group 4: Global Value Chain Core Assets - The importance of increasing allocation to global value chain core assets is stressed, with a focus on leading manufacturing companies that have shown strong performance and stability [8]. - The ongoing global economic restructuring and geopolitical factors are seen as catalysts for investment opportunities in strategic industries and resources [8]. Group 5: Enhancing the Investment Environment - Suggestions for improving the environment for long-term capital investment include cultivating a value investment ecosystem, enhancing the institutional framework for long-term investments, and improving the investment capabilities of insurance funds [10][11]. - Recommendations include optimizing market structures, enhancing investor protection, and providing a wider range of investment products suitable for long-term investors [10][11].