公募基金重磅改革方案落地 公募基金迎来重大行业变革。5月7日，《推动公募基金高质量发展行动方案》正式发布。《方案》以25 条举措直击行业痛点，通过优化主动管理权益类基金收费模式、强化基金公司与投资者的利益绑定、提 升行业服务投资者的能力、提高公募基金权益投资的规模和稳定性等重点内容，着力督促基金公司、基 金销售机构等行业机构从"重规模"向"重回报"转变，形成行业高质量发展的"拐点"。在《方案》发布 后，证券时报记者第一时间采访了多家基金公司，对《方案》带来的行业意义进行解读。受访基金公司 表示，《方案》的出台为公募基金改革提供了明确的行动指引，未来基金公司与投资者利益更加紧密绑 定，投资者回报、基金公司报酬和投研人员激励将更为统一。公募基金行业将更加突出投资人利益导 向，以更合理的收费机制与更多的创新产品为投资者带来更好的投资体验，切实提升投资者的"获得 感"和"安全感"。（人民财讯） 公募基金行业2024年业绩全景透视：头部机构韧性凸显 随着上市公司2024年年报披露收官，公募基金行业整体经营画像清晰呈现。在资本市场深化改革、费率 调整和国际金融市场动荡的背景下，行业呈现出"强者恒强、特色突围"的发展态势。 ...

Core Insights - The insurance asset management industry has shown overall growth in revenue and net profit for 2024, with 34 institutions reporting a total revenue of 41.6 billion yuan, an increase of 14.4%, and a net profit of 18.4 billion yuan, up by 18.1% [1][3] Group 1: Performance of Major Institutions - China Life Asset Management remains the leader in both revenue and net profit for 2024, achieving a revenue of 6.703 billion yuan, a year-on-year increase of 27.5%, and a net profit of 3.857 billion yuan, up by 34.1% [3][4] - TaiKang Asset ranks second in both revenue and net profit, with a revenue of 6.282 billion yuan, a growth of 23.1%, and a net profit of 2.843 billion yuan, increasing by 36.6% [3][4] - Ping An Asset's revenue and net profit have declined, with figures of 4.045 billion yuan and 2.451 billion yuan respectively, leading to a drop in rankings [3][4] Group 2: Industry Trends and Challenges - The total asset management scale of the top three insurance asset management companies exceeds 16 trillion yuan, with at least eight companies managing over 1 trillion yuan [2][6] - The majority of institutions have reported growth, but some, like Zhongying Yili Asset, have seen significant declines, with revenues and profits dropping by approximately 40% and 80% respectively [5][6] - The industry faces challenges in alternative asset management, particularly in debt investment plans and equity investment business, which are struggling due to low withdrawal rates and a cooling primary market [5][6] Group 3: Asset Management Scale - As of the end of 2023, eight insurance asset management institutions have surpassed a management scale of 1 trillion yuan, including China Life Asset, Ping An Asset, and TaiKang Asset [6][7] - The median asset management scale among 35 institutions is 326.8 billion yuan, indicating that half of the companies manage less than this amount [7][8]

Group 1 - The core viewpoint of the news is that the performance of 34 insurance asset management companies in 2024 shows significant growth in both revenue and net profit, with a notable disparity among companies [1][3][6] - The total operating revenue of these companies reached 41.6 billion yuan, representing a year-on-year increase of 14.41%, while the total net profit was 18.507 billion yuan, up 17.4% year-on-year [1][6] - A total of 21 companies reported increases in both revenue and net profit, while 9 companies experienced declines in these metrics [1][3] Group 2 - Leading companies such as China Life Asset Management, Taikang Asset Management, and Ping An Asset Management reported net profits exceeding 2 billion yuan, with China Life Asset Management achieving a net profit of 3.857 billion yuan, up 34.08% [6][7] - The average return on equity (ROE) for the 34 companies reached 30%, an increase of 14 percentage points compared to the previous year, indicating improved shareholder returns [2][8] - The highest ROE was recorded at 71% for Minsheng Tonghui Asset Management, while the lowest was -12% for Allianz Asset Management, highlighting significant differences in performance among companies [9][10] Group 3 - Revenue growth was particularly strong for China Life Asset Management, which reported 6.703 billion yuan in revenue, a 27.5% increase, and Taikang Asset Management with 6.282 billion yuan, up 23.11% [3][5] - Conversely, Ping An Asset Management saw a decline in revenue, reporting 4.045 billion yuan, down 5.39% [3][5] - Among the 34 companies, 25 experienced revenue growth, while 9 reported declines, with the latter group including companies like Minsheng Tonghui Asset Management and Ping An Asset Management [4][6]

Core Insights - The article discusses the development of patient capital in China, emphasizing the need to enhance long-term capital supply in the capital market and optimize assessment mechanisms for patient capital [1][3][4]. Group 1: Patient Capital Development - The environment for patient capital, primarily focused on equity investment, has changed significantly in recent years, leading to rapid industry growth. However, private equity institutions in China face bottlenecks in fundraising, investment, management, and exit processes, which hinder the generation and expansion of patient equity capital [3][4]. - In 2024, the total amount pledged by national institutional LPs reached 1.27 trillion yuan, with 6,863 contributions made. Government funds played a crucial role, contributing 669.2 billion yuan, while financial institutions and social security funds contributed a total of 224.5 billion yuan, marking a 0.9 percentage point increase from 2023 [4][5]. Group 2: Investment Trends - There is a notable trend towards early-stage investments, with seed and startup project investment cases accounting for 41% in 2024, a 4 percentage point increase from 2021. Investments in angel, Pre-A, and A rounds collectively represent 66% of total investment cases [5][6]. - The focus of equity investment has shifted towards hard technology sectors, with IT, semiconductors, biotechnology/healthcare, and machinery manufacturing leading in both the number of investment cases and investment amounts, accounting for 74% and 63% respectively in 2024 [6]. Group 3: Policy Recommendations - To strengthen patient capital and increase long-term capital supply in the capital market, it is recommended to enhance the role of state-owned capital in equity investments. This includes optimizing the governance of government industry investment funds and integrating local government industry funds [7][8]. - Encouraging banks, insurance companies, and social security funds to enter the equity investment market is essential. This involves clarifying the usage scope and methods for these funds, simplifying investment decision-making processes, and enhancing risk management systems tailored to equity investment characteristics [8].

继今年1月划归上海管理后，近日中保投资有限责任公司（下称"中保投"）新任董事长和总裁正式落定。 上海市人民政府4月10日发布消息显示，市人民政府同意贾飙任中保投董事长，免去其中保投总裁职务； 李军任中保投总裁。 贾飙升任中保投董事长 中保投于2015年12月成立，注册资本12亿元，由27家保险公司、15家保险资产管理公司以及4家社会资 本共46家股东单位出资设立。 2015年6月，国务院批复同意《中国保险投资基金设立方案》，设立中国保险投资基金。中保投担任中国 保险投资基金的普通合伙人，负责基金设立、募集和管理工作。 中保投曾是原银保监会管委会统筹管理的会管单位之一，后归国家金融监督管理总局管理。今年1月，中 保投划归上海管理。 2月27日，上海市委组织部发布上海市市管干部任职前公示，其中提及，现任中保投总裁、党委副书记贾 飙，拟任市管企业党委书记，并提名任董事长。 贾飙是一位专家型管理干部，见证了保险行业和保险资金运用的发展壮大历程，组织修订了重大疾病定义 和发生率表等，近年来围绕保险投资进行了深入的管理实践。 资料显示，贾飙出生于1971年12月，毕业于南开大学经济学院金融学专业，经济学博士研究生。曾任原 ...

中保投资有限责任公司（下称"中保投"）总裁贾飙拟任上海市管企业党委书记，并提名任董事长。 2月27日，上海市委组织部发布上海市市管干部任职前公示，其中提及，现任中保投资有限责任公司总裁、党委副书 记贾飙，拟任市管企业党委书记，并提名任董事长。 据券商中国记者了解，该市管企业很大可能即为中保投。中保投前一任董事长为任春生，任2021年7月调离后，中保 投董事长之职空缺至今。 中保投于2015年12月成立，注册资本12亿元，由27家保险公司、15家保险资产管理公司以及4家社会资本共46家股东 单位出资设立。 根据《国务院关于中国保险投资基金设立方案》（下称《方案》），中国保险投资基金主要由保险机构依法设立， 并发挥保险行业长期资金优势的战略性、主动性、综合性投资平台。中保投资担任中国保险投资基金的普通合伙 人，负责基金设立、募集和管理。 中保投曾是原银保监会管委会统筹管理的会管单位之一，后归国家金融监督管理总局管理。今年1月，中保投划归上 海管理。 据上海市国资委官微消息，1月7日，上海市国资委党委书记、主任贺青带队赴中保投调研并主持召开座谈会。贺青 指出，根据机构改革有关要求，中保投划归上海管理，由上海市国资委 ...