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安联投资risklab全球负责人 ,最新发声!
Zhong Guo Ji Jin Bao· 2025-05-21 15:56
Group 1 - The core viewpoint emphasizes that asset allocation is crucial for pension investments, as market timing is unreliable, especially for long-term investments like pensions [1][9][17] - Tim Friederich highlights that pension preservation and growth is a significant challenge for the current generation, and that customized and diversified asset allocation can be powerful tools in pension investment [3][17] - The comparison between European and Chinese pension systems reveals many similarities, particularly in the reliance on public pension systems and the need for reform due to aging populations [6][7][17] Group 2 - The framework for pension investment asset allocation consists of three core components: Strategic Asset Allocation (SAA), Dynamic Asset Allocation (DAA), and Tactical Asset Allocation (TAA) [10][11] - The importance of providing customized pension services is emphasized, as different investors have varying retirement income expectations, investment horizons, and risk tolerances [12][13] - The need for clear communication of complex investment strategies to retail investors is highlighted, ensuring that they can make informed decisions about their pension investments [15][16] Group 3 - The article stresses that appropriate return expectations are essential for maintaining investor engagement in pension plans, and that incorporating global asset classes can enhance diversification and improve risk-adjusted returns [18][17] - The mission of the company is to assist investors in achieving their goals, particularly in the context of developing a diverse pension financial system in China, drawing lessons from European experiences [19][17]
戴相龙:中国养老金投资回报高于发达国家,社保基金六成收益来自股票
Di Yi Cai Jing· 2025-04-25 05:24
Core Insights - The article emphasizes the need for expanding the scale and improving the investment returns of China's pension system in response to the rapidly aging population [1][2][3] Group 1: Pension System Structure - China has established a "one fund, three pillars" pension system, which includes the National Social Security Fund, urban employee basic pension insurance, enterprise annuities, and personal pensions [2][3] - As of the end of 2024, the total balance of the "one fund, three pillars" pension system is projected to reach 19.5 trillion yuan, accounting for 13.1% of the national GDP [2] Group 2: Growth Projections - The balance of the "one fund, three pillars" pension system has grown at an average annual rate of 13.4% from 2013 to 2024, with a conservative estimate suggesting it could reach 66 trillion yuan by 2035 [3] - If China's economic growth remains around 5% over the next five years, the pension system's share of GDP could rise to 28% by 2035 [3] Group 3: Investment Returns - China's pension investment return rates are relatively high, with the National Social Security Fund achieving an average annual investment return rate of 7.36% from 2000 to 2023 [7] - The average return rate for urban employee basic pension insurance is 5.06%, while enterprise annuities have a return rate of 6.26% [7][8] Group 4: Recommendations for Improvement - To enhance the pension system, it is recommended to increase the scale of the National Social Security Fund and improve the national coordination of urban employee basic pension insurance [3][4] - Suggestions include allowing enterprises that do not participate in basic pensions to establish enterprise annuities and modifying regulations to ease the burden on employers and employees [4][5] - The development of the third pillar of pension insurance is crucial, with proposals for significant tax exemptions to encourage participation [6][8]
汇添富基金2024实现营业收入48.28亿元 净利润15.47亿元
Cai Jing Wang· 2025-03-28 12:43
Core Insights - Oriental Securities released its 2024 annual report, highlighting the performance of its affiliate, Huatai Fund, which achieved operating revenue of 4.828 billion yuan, main business profit of 2.047 billion yuan, and net profit of 1.547 billion yuan for the year [1] - As of December 31, 2024, Huatai Fund reported total assets of 14.353 billion yuan and net assets of 10.778 billion yuan [1] - Huatai Fund aims to enhance its business quality in 2024, adhering to a long-term operational philosophy and prioritizing customer value [1] Business Performance - Huatai Fund's total asset management scale reached approximately 1.16 trillion yuan, growing over 9% from the beginning of the year, with public fund scale (excluding money market funds) at around 500 billion yuan, increasing by about 10% [2] - The fund launched 32 new public funds during the reporting period and received approval for the first medical warehousing logistics REIT in the country [2] Strategic Initiatives - The company plans to deepen the construction of a rule-based investment system, enhance customer service and operations, and innovate in personal pension services, public REITs, and international business [3] - Huatai Fund is committed to improving compliance risk management, business digitalization, and team effectiveness to drive high-quality development [3]
又埋了一批
猫笔刀· 2024-12-10 14:18
今天又是一个墓碑线,开盘几乎就是日内最高点,然后收盘差不多是日内最低点,这种走势是最伤市场情绪的,最勇敢的股民亏的最多,砸盘的人人获 利,持仓坚守的人均冤种。 我去看了一眼a50期货的30分钟k线,差不多是昨天a股收盘后出了消息,立刻拉升5%,然后在今天上午a股开盘前突然跳水,几乎把涨幅又都跌了回去。 类似的情况过去几年已经发生过很多次了,即收盘后利好拉升,开盘前再跌回来。有人说这是外资故意不想给a股抬轿子,可能吧,确实这方面的意图很 明显,但换一个角度也可以解读为外资对a股没信心,有利好半夜玩一下,天亮前很自觉的完璧归赵, 不然真扛到了开盘,a股上万亿的抛盘砸下来,日成交额只有几百亿的a50扛的住吗? 很多人收盘后骂骂咧咧都是谁在砸,其实不用问,肯定有公募有私募,也有游资大户,包括散户也不少。a股那么多次的高开低走,早就有示范效应,包 括一些今天没跑的,后悔的,可能下一次高开也会加入砸盘大军。 因为砸盘的总是获得奖励,留守的总是被惩罚,长此以往市场的风气导向可想而知。想要改变这种局面就必须有几波强势拉升,不回调的那种,让卖出的 人承受20-30%的逼空,承受一次痛入骨髓的经历,可是你们看目前的a股具备这种能 ...