今年3月，500亿元鸿鹄基金完成投资落地，实现了风险低于基准、收益高于基准的良好业绩表现。Wind数据显示，截 至2025年一季度末，鸿鹄基金重仓持有中国电信、伊利股份、陕西煤业，合计持股数量超10亿股，合计持股市值超百 亿元。 在今年二期试点开启后，中国人寿再度入选试点名单，并于3月再度获得国家金融监督管理总局批准出资100亿元认购 鸿鹄二期资金，计划近期投资入市，主要聚焦大市值、流动性好和较高市场影响力的优质上市公司，通过长期持有此 类资产，进一步发挥长期资本、耐心资本作用。 保险资金长期投资改革试点迎来新进展，鸿鹄基金三期获批。 近期，由中国人寿方面获悉，国家金融监督管理总局近日批复同意中国人寿资产管理有限公司（以下简称"国寿资 产"）参与第三批保险资金长期投资改革试点。 公开信息显示，鸿鹄基金设立于2023年。当年10月，金融监管总局批复中国人寿和新华保险两家保险公司试点发起设 立鸿鹄基金，规模为500亿元，两家公司各自出资250亿元。这也是保险资金长期投资改革试点开启后，首家获批成立 的险资系私募证券投资基金。 作为中长期资金的典型代表，险资迎来更多机遇。从行业影响看，国寿资产认为，保险行业资产端将 ...

Group 1 - The Ministry of Industry and Information Technology and other departments issued an implementation opinion to promote the high-quality development of the technology service industry, focusing on research and development, technology transfer, and enterprise incubation [1] - The State Administration of Foreign Exchange reported a continued positive trend in foreign investment in RMB assets, with a net increase of $10.9 billion in domestic bonds in April, and a shift to net buying in domestic stocks by foreign investors in late April [1] - TSMC plans to increase prices for its advanced process nodes, with a 10% price hike for 2nm wafers and a potential increase of up to 30% for its 4nm manufacturing node [1] - The National Financial Supervision and Administration Bureau approved Xinhua Insurance's participation in the third batch of long-term investment reform pilot projects, aiming to expedite the entry of long-term funds into the market [1] Group 2 - Kweichow Moutai's shareholders' meeting approved a profit distribution plan for 2024, proposing a dividend of 276.24 yuan per share [2] - Liren Lizhuang reported a cumulative transaction amount (GMV) of only 4.006 million yuan for its product in Q1 2025 [2] - Zhongyida stated that its production capacity remains stable with no new construction plans [2] - Weir Shares plans to change its stock name from "Weir Shares" to "Haowei Group" [2] - Wan'an Technology confirmed there are no significant undisclosed matters [2] - Ningbo Shipping's stock price has been highly volatile recently, indicating a high risk of speculation [2] - Lianyungang reported that its production and operational activities are normal, with no significant changes in industry policies [2]

Core Viewpoint - The article discusses the recent developments in the long-term investment reform pilot program for insurance funds in China, highlighting the initiation of the second batch of investment funds and the upcoming third batch, which aims to inject more capital into the market [1][6]. Group 1: Second Batch of Insurance Fund Pilot - The second batch of insurance funds for long-term investment reform includes the Honghu Fund Phase II, which has a scale of 20 billion yuan, co-funded by China Life and Xinhua Insurance [3][4]. - The fund focuses on investing in large-cap, liquid, and high-impact listed companies, aiming for long-term holdings to leverage the benefits of patient capital [3][4]. - The second batch has a total scale of 112 billion yuan, with eight insurance companies participating, including China Life and Xinhua Insurance, which have been approved for a combined investment of 60 billion yuan [4][9]. Group 2: Third Batch of Insurance Fund Pilot - The third batch of the pilot program has been initiated, with an additional 60 billion yuan expected to be approved, bringing the total scale of the pilot program to 222 billion yuan [6][9]. - The Honghu Fund Phase III has been approved and is set to focus on high-quality, stable companies with good governance and dividend returns, further stabilizing the financial performance of insurance companies [8][9]. - The long-term investment pilot aims to alleviate the volatility of insurance companies' profits and enhance their equity investments, contributing to a stable capital market [9].

资本市场近期将迎来第二批保险资金长期投资改革试点的增量长钱。 券商中国记者从中国人寿集团获悉，鸿鹄基金二期计划近期投资入市，这是第二批保险资金长期投资改革试点 的私募证券基金。与此同时，第三批试点也已启动，近日，国寿资产和相关机构获批鸿鹄基金三期。 第二批试点险资长钱将入市 鸿鹄基金二期于今年3月获批，规模200亿元，由中国人寿和新华保险各出资100亿元。 中国人寿资产管理有限公司（简称"国寿资产"）相关人士介绍，3月5日，金融监管总局正式批复鸿鹄基金二 期，计划近期投资入市，主要聚焦大市值、流动性好和较高市场影响力的优质上市公司，通过长期持有此类资 产，进一步发挥长期资本、耐心资本作用。 三批试点启动，规模将增至2220亿元 保险资金长期投资改革试点，指的是保险公司出资设立私募证券基金，主要投向二级市场股票，并长期持有。 首批试点于2023年10月获批。中国人寿和新华保险作为首批试点机构，各出资250亿元，设立规模500亿元的公 司制基金，即鸿鹄志远（上海）私募证券投资基金有限公司（简称"鸿鹄基金"）。鸿鹄基金于2024年3月4日正 式启动投资，截至2025年3月初，500亿元已悉数投资落地。 目前，在第二 ...

保险资金长期投资改革试点按下加速键，在第二批试点批复仅过去两个月，第三批试点就传来了新消 息。 近日，国家金融监督管理总局批复同意中国人寿资产管理有限公司（以下简称"国寿资产"）参与第三批 保险资金长期投资改革试点。 第二批试点批复规模超最初拟定 保险资金长期投资改革试点始于2023年，是指由保险公司出资设立私募证券基金，主要投向二级市场股 票，并长期持有。 2023年10月，国家金融监管总局批复同意中国人寿和新华保险通过募集保险资金试点发起设立证券投资 基金鸿鹄志远（上海）私募证券投资基金有限公司（以下简称"鸿鹄基金"），投资股市并长期持有，规 模500亿元，两家公司各出资250亿元。 南方财经全媒体记者 林汉垚 北京报道 最终，第二批保险资金长期股票投资试点批复规模达1120亿元，高于监管部门最初拟定的1000亿元。 鸿鹄基金三期正式获批 第二批保险资金长期股票投资试点批复完成仅过去两个月，国家金融监管总局局长李云泽就在国新 办"一揽子金融政策支持稳市场稳预期"有关情况新闻发布会上表示，要进一步扩大保险资金长期投资的 试点范围，拟再批复600亿元，为市场注入更多增量资金。 国寿资产于4月9日向国家金融监督 ...

Group 1: Fund Manager Dynamics - 11 new fund managers were appointed today, involving 22 funds, primarily from Bosera Fund and Huaan Fund, while 3 fund managers left their positions [1] Group 2: Market Reactions and Adjustments - Multiple public fund industry insiders stated that recent analyses attributing market adjustments to changes in public fund performance benchmarks are inaccurate and unprofessional, indicating no large-scale repositioning among public funds [2] - The Hang Seng Index has added Midea Group and ZTO Express, while the Hang Seng Tech Index has included BYD Company [3] Group 3: Hedge Fund Activities - Michael Burry's Scion Asset Management cleared almost its entire stock portfolio in Q1, establishing new short positions on Nvidia and several Chinese stocks, including Alibaba and JD.com [4] - Soros Capital Management has re-entered Chinese assets, with new positions in Alibaba, Yum China, and iShares China Large-Cap ETF, ranking 5th, 7th, and 8th in their holdings respectively [5] - Soros Fund has heavily invested in AST SpaceMobile and Nvidia while selling shares in AMD and other large tech companies [6] - Bill Ackman's Pershing Square Capital Management bought Uber and completely sold its Nike holdings in Q1 [6] Group 4: Investment Trends and Strategies - PGIM's chairman noted that President Trump's trade war has created uncertainty, leading institutional investors to pause asset allocation decisions regarding investments in the U.S. [7] - The Honghu Fund Phase II, with a scale of 20 billion yuan, is set to invest in the market, focusing on large-cap, liquid, and high-impact quality listed companies [9] - China Life Asset Management has been approved to participate in the third batch of insurance fund long-term investment reform trials [10] Group 5: Fund Market Dynamics - Several money market funds have recently imposed purchase limits to prevent arbitrage impacts and ensure stable operations [11] - Qatar Investment Authority plans to invest $500 billion in the U.S. over the next decade, with current assets totaling $524 billion [12] - Global funds continued to net buy Indian stocks, purchasing 9.3 billion rupees worth of shares [13] Group 6: ETF Market Overview - A-shares saw a collective decline, with the Shanghai Composite Index down 0.4% and total market turnover at 1.1241 trillion yuan, a decrease of 66.3 billion yuan from the previous day [13] - Notable ETF performances included a 3.65% increase in the Invesco S&P Consumer ETF and a 2.37% rise in the Huaan Fund Germany ETF [13] - The engineering machinery ETF experienced a 10% drop, while the financial sector ETFs also saw declines [16]

记者从中国人寿（601628）集团获悉，鸿鹄基金二期计划近期投资入市，主要聚焦大市值、流动性好和 较高市场影响力的优质上市公司，通过长期持有此类资产，进一步发挥长期资本、耐心资本作用。鸿鹄 基金二期于今年3月获批，规模200亿元，由中国人寿和新华保险（601336）各出资100亿元发起设立， 是第二批保险资金长期投资改革试点的私募证券基金。(人民财讯) ...

中国保险行业协会披露，截至5月9日，今年以来险资已有13次举牌，其中6次为举牌银行股，包括平安 人寿举牌农业银行、招商银行，瑞众人寿举牌中信银行，新华保险举牌杭州银行等。 除了银行股外，险资对交通运输、房地产、通信、公用事业等行业公司的持股数量也较为靠前。Wind 数据显示，2025年一季度，险资对超220只个股进行加仓，对京沪高铁、大秦铁路、兴业银行、华菱高 铁等个股的加仓数量较为靠前。 广州日报讯（全媒体记者赵冬芹）日前，平安人寿和中邮保险分别宣布增持招商银行H股和东航物流。 2025年以来，保险资金作为长期资金入市步伐加快。截至5月9日，今年以来已有13次险资举牌。在国新 办日前举行的新闻发布会上，国家金融监管总局局长李云泽再度提及保险资金长期投资改革试点，宣布 近期拟再批复600亿元。官方资料汇总显示，险资长期投资试点的资金规模将达到2220亿元。 今年以来险资已举牌13次 5月9日，港交所披露的信息显示，平安人寿于5月6日增持招商银行347.55万股H股，持股比例由11.92% 增至12%。平安人寿曾于今年1月、3月两次举牌招商银行H股。5月7日，中邮保险公告称，公司与珠海 普东股权投资有限公司签署 ...

Core Viewpoint - Recent significant actions by insurance capital, including investments by Xinhua Insurance and China Life, indicate that the second batch of long-term investment reforms for insurance funds is accelerating and entering a substantive implementation phase [1][5] Group 1: Investment Initiatives - Xinhua Insurance and China Life plan to jointly invest 200 billion yuan in a private fund named "Honghu Erqi Fund," focusing on A+H share listed companies [2][5] - The investment strategy of the Honghu Erqi Fund emphasizes long-term investment through low-frequency trading and stable dividend yields from large, well-governed companies [2][3] - The first phase of the Honghu Fund, established with a total investment of 500 billion yuan, has successfully invested in key industries related to national interests, achieving a net profit of 9.17 billion yuan in 2024 [3][4] Group 2: Expansion of Insurance Fund Participation - The scale of the long-term investment pilot for insurance funds has expanded from 500 billion yuan to 1.62 trillion yuan, with the number of participating insurance companies increasing from 2 to 8 [5][6] - The second batch of pilot approvals includes 520 billion yuan for companies like Taikang Life and Sunshine Life, with additional approvals for 600 billion yuan for other major insurers [5][7] Group 3: Regulatory Support and Market Impact - Continuous policy support from regulatory bodies has facilitated the long-term investment pilot, with recent initiatives aimed at increasing the actual investment ratio of insurance funds [6][7] - Despite the growth in pilot scale, the long-term investment pilot's 1.62 trillion yuan still represents a small fraction of the total insurance fund investment in the stock market, which stood at 33.26 trillion yuan by the end of 2024 [7][8]

金十数据5月7日讯，5月7日，金融监管总局局长李云泽在国新办新闻发布会上介绍，近期拟再批复600 亿元，为市场注入更多的增量资金。此前，金融监管总局批复的两批保险资金长期投资改革试点已达 1620亿元，共有8家保险公司参与。记者从相关渠道独家获悉，此次批复新增了数家试点机构，新增试 点规模600亿元。由此，金融监管总局合计批复总额将达2220亿元。 （上证报） 新增数家试点机构 保险资金长期投资改革试点将合计达2220亿元 ...