作为市场上重要的长期资本力量，险资正在悄然重塑其投资格局。11月16日，北京商报记者注意到，金 融监管总局日前公布了2025年三季度保险公司资金运用情况，截至今年三季度末，保险公司资金运用余 额突破37万亿元，达到37.46万亿元，较年初增长12.6%。 保险资金稳步增长的同时，延续多年的"固收为主"配置格局出现微妙变化，债券投资占比微降，股票投 资占比持续攀升，险资股票投资规模超3.6万亿元，凸显险资在低利率环境下寻求收益突破的主动调 整。 固收类资产占比降低 金融监管总局发布的数据显示，保险业资金运用余额稳步增长。截至三季度末，保险资金运用余额 37.46万亿元，较年初增长12.6%。 在险资大类资产配置中，债券是"压舱石"。过往10年中，险资对债券的配置占比一直超过30%，债券成 为稳定险资投资收益率的核心资产。 不过，北京商报记者注意到，截至今年三季度末，人身险公司对债券投资配置比例有所降低，具体来 说，人身险公司资金运用余额中，债券投资占比已经从二季度的51.9%降低至51.02%。 除了债券，险资对银行存款的投资也在减少。从环比数据来看，财产险公司银行存款占比从二季度末的 17.24%降低至三季度 ...

Core Insights - Fixed income products have become essential investment tools, with performance differences reflecting the strength of fund companies [1] - The absolute return rankings for fixed income funds have been released by Guotai Haitong Securities, highlighting top performers over various time frames [1] 10-Year Performance - Western Asset Management and Everbright Pramerica lead the 10-year performance rankings, with returns of 91.87% and 88.73% respectively [3] - Other notable performers include Xinda Australia and Qianhai Kaiyuan, with returns of 77.57% and 74.25% [3] - Large fund companies have a significant advantage, with an average return of 53.99% over the past 10 years, compared to 45.05% for medium-sized and 45.11% for small-sized companies [3] 5-Year Performance - Huashang Fund tops the 5-year performance rankings with a net value growth rate of 57.09% [5] - Everbright Pramerica and Hongtu Innovation follow with returns of 28.94% and 28.26% respectively [5] - The average return for large fund companies over the past 5 years is 19.17%, while medium and small companies have returns of 17.75% and 16.61% [5] 3-Year Performance - Everbright Pramerica leads the 3-year performance with a return of 16.79% [8] - Huashang Fund and Huatai Bosheng follow with returns of 16.22% and 15.15% respectively [8] - The average return for large fund companies over the past 3 years is 9.75%, with medium and small companies at 8.86% and 8.49% respectively [9] Year-to-Date Performance (2025) - Everbright Pramerica and Ruiyuan have shown strong performance in 2025, with returns of 7.34% and 6.90% respectively [10] - A total of 146 out of 166 fund managers reported positive returns in the fixed income sector for 2025 [10] - Large fund companies such as Yifangda, Huitianfu, and Penghua are among those with strong performance in 2025 [12]