Group 1 - The central political bureau meeting emphasized the need for a stable and active capital market, leading insurance companies to plan for increased equity asset allocation [1] - Since the approval of the second batch of long-term stock investment trials by the financial regulatory authority, the scale has reached over 100 billion, with more insurance institutions looking to participate [1][2] - Insurance funds are increasingly focusing on core A-share assets, particularly those close to the Shanghai Stock Exchange 50 Index, while also paying attention to sectors like banking, transportation, public utilities, telecommunications, and pharmaceuticals [1][3] Group 2 - In the first quarter, insurance funds increased their holdings in sectors such as pharmaceuticals, steel, home appliances, and defense, indicating a shift in investment strategy [2] - Insurance institutions maintain an optimistic outlook for the market, with a focus on stable dividend strategies and a continued emphasis on the pharmaceutical sector due to its favorable mid-term performance [3] - The expected influx of several hundred billion yuan in new capital into the market is driven by the need for insurance funds to seek absolute returns in a low-interest-rate environment [3][4] Group 3 - Regulatory measures to raise the equity allocation limits for insurance companies reflect a commitment to stabilize the market and boost confidence [4] - The current environment of low interest rates and asset scarcity makes high-dividend stocks a necessary choice for insurance companies, positioning them as a key focus for future equity allocations [4]

截至2025年3月31日，招商基金旗下招商瑞恒一年持有期混合C(009378)期末净资产2.52亿元，比上期减 少12.55%，该基金经理为余芽芳。 | 日期 | 期间申购(亿份) | 期间赎回(亿份) | 期末总份额(亿份) | 期末净资产(亿元) | 净资产变动率 | | --- | --- | --- | --- | --- | --- | | 2025-03-31 | 0.00 | 0.00 | 0.02 | 0.02 | -2.54% | | 2024-12-31 | 0.00 | 0.02 | 0.02 | 0.02 | -47.96% | | 2024-09-30 | 0.00 | 0.02 | 0.04 | 0.04 | -27.77% | | 2024-06-30 | 0.29 | 0.35 | 0.06 | 0.06 | -49.10% | 数据显示，该基金近3个月收益率-0.67%，近一年收益率0.16%，成立以来收益率为12.21%。其股票持 仓前十分别为：渝农商行（601077）、格力电器（000651）、四川路桥（600039）、歌尔股份 （002241）、迪威尔、云铝股份（000 ...