【导读】银行股遭遇大面积调整 中国基金报记者 泰勒 兄弟姐妹们啊，周末好！简单回顾下周五市场发生了什么。 银行股暴跌 6月27日，市场全天冲高回落，三大指数涨跌互现。截至 收盘沪指跌0.7%，深成指涨0.34%，创业板指涨0.47%。 那么为什么银行股突然大面积杀跌呢？据报道，某大型保险机构的 高管在股东会上透露：过去一年该公司持续加大高分红股 票配置比例，高分红OCI资产配置比例已占二级权益投资总持仓30%左右。此外，投资团队正在持续加大深度研究和投资科创 板企业。而市场对此的解读为： 险资"爆买"银行股的行为暂告一段落。 今天就简单分析到这，祝大家周末愉快！ 两市共3381只个股上涨，60只个股涨停，1772只个股下跌。 | 880005 涨跌家数 | | | --- | --- | | 其中 涨停 | 50 | | 涨幅 > 7% | 105 | | 涨幅 5-7% | 78 | | 涨幅 3-5% | 228 | | 涨幅 0-3% | 2970 | | 跌幅 0-3% | 1567 | | 跌幅 3-5% | 138 | | 跌幅 5-7% | 45 | | 跌幅 > 7% | 22 | | 其中 ...

非银行业周报 20250517 公募费率改革深化，险资配置优化提速 2025 年 05 月 17 日 ➢ 公募基金高质量发展《行动方案》发布后首批浮动管理费产品上报，基金费 率改革深化有望持续提升入市意愿。5 月 7 日证监会发布《推动公募基金高质量 发展行动方案》，其中明确要求优化基金运营模式，建立健全基金公司收入报酬 与投资者回报绑定机制，建立与基金业绩表现挂钩的浮动管理费收取机制。据证 券时报统计，5 月 16 日证监会官网发布首批上报的新模式浮动管理费产品，首 批 26 家机构包括易方达基金、富国基金、广发基金、华夏基金、南方基金等基 金管理人。《行动方案》要求在未来一年内，引导管理规模居前的行业头部机构发 行此类基金数量不低于其主动管理权益类基金发行数量的 60%；试行一年后及 时开展评估并予以优化完善，逐步全面推开。我们认为浮动管理费率公募基金产 品逐步推广，有助于绑定基金投资者与基金管理人利益，鼓励基金管理人重视业 绩基准并积极获得超额收益，具备投研优势的头部基金与证券公司或更加受益。 资管费率调降叠加费率浮动调整，财富管理向"买方投顾"模型转型，有助于提 高基金投资者获得感，持续提升各类资金入 ...

Group 1 - The financial regulatory authority plans to expand the long-term investment pilot program for insurance funds by approving an additional 60 billion yuan to inject more incremental capital into the market [1] - Adjustments to solvency regulation rules will lower the risk factor for stock investments by 10%, encouraging insurance companies to increase their market participation [1] - Analysts suggest that insurance funds are likely to focus on high dividend, high ROE, and counter-cyclical assets, with a gradual increase in allocation to the CSI A500 index, benefiting from macroeconomic stabilization [1] Group 2 - The CSI A500 ETF (563800) closely tracks the CSI A500 index, selecting 500 stocks that represent industry leaders while balancing large-cap coverage across various sectors [2] - The CSI A500 ETF has seen a growth of 275 million yuan in the past two weeks, indicating strong inflows into core leading broad-based assets [2] - As of May 15, the CSI A500 ETF's latest scale exceeds 19 billion yuan, with an average daily trading volume of over 2.1 billion yuan, ranking it among the top in its category [2]

Core Viewpoint - The A500 index has shown mixed performance with a slight decline, while the A500 ETF fund has seen significant trading activity and inflows, indicating a potential shift in investment strategies towards long-term holdings in high-dividend and high-ROE assets [3][4]. Group 1: A500 Index Performance - As of May 15, 2025, the A500 index (000510) decreased by 0.72%, with notable gainers including COSCO SHIPPING Development (601866) up 9.96% and Shenghe Resources (600392) up 7.89% [3]. - The A500 ETF fund (512050) also fell by 0.73%, priced at 0.95 yuan, with a trading volume of 18.94 billion yuan and a turnover rate of 10.89% [3]. Group 2: Investment Trends and Regulatory Changes - The head of the Financial Regulatory Bureau announced plans to expand the long-term investment pilot for insurance funds by an additional 60 billion yuan, aiming to inject more capital into the market [3]. - Adjustments to solvency regulations will lower the risk factors for stock investments by 10%, encouraging insurance companies to increase their market participation [3]. Group 3: A500 ETF Fund Details - The A500 ETF fund has reached a new high in scale at 17.496 billion yuan, with a significant increase in shares by 3.66 million over the past week, ranking first among comparable funds [4]. - The fund has seen a net inflow of 458 million yuan recently, with three out of the last five trading days recording net inflows totaling 557 million yuan [4]. Group 4: Top Holdings in A500 Index - As of April 30, 2025, the top ten weighted stocks in the A500 index include Kweichow Moutai (600519), CATL (300750), and Ping An Insurance (601318), collectively accounting for 20.8% of the index [5]. - The weightings of the top stocks are as follows: Kweichow Moutai at 4.28%, CATL at 2.96%, and Ping An at 2.46% [7].

5月7日，港股红利ETF基金（513820）放量收涨0.82%，喜提两连阳，资金连续5日增仓超9500万元！当前港股红利ETF基金（513820）指数最新达8.88%， 领先市场主流红利指数。 银行板块大象起舞。银行ETF龙头（512820）放量收涨1.42%，终结三连阴！成交额超5400万元，环比激增39%。资金连续2日小幅增仓。 【回溯过往，险资偏好银行等红利资产】 从去年全年来看，险资掀起新一轮"举牌潮"，共有8家险企合计举牌20次。从被举牌公司来看，红利资产特征非常明显。典型标的当属工商银行H股，工商 银行H股低估值高股息的特征非常明显。从其他被举牌公司来看，去年险资举牌的18只个股最新滚动市盈率中位数为9倍左右，股息率中位数为3.7%。 | 保险名称 | 交易日期 | | 上市公司代码 上市公司名称 申万行业 | ETE | 最新股息率 | 变动后持股比例 | 股数比例口径 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | TTM (%) | (%) | | | 瑞众人寿 2024/12/20 | | 0916.HK | ...