Not a position adjustment, but also a position insurance risk trader: This year the market has a lot to do

Not a position adjustment, but also a position insurance risk trader: “This year the market has a lot to do”

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  Source: 21st Century Business Herald Original Title: Not Adjusting Positions but Adding Positions to Risk Management Traders: “This year’s market has a lot to do” Although the first trading day of A-shares did not perform well, the day of spring ended with a big rebound.

  On February 4, the Shanghai Composite Index increased by 1.

34%, GEM Index rebounded 4.


Following the purchase of 181 on February 3.

After 9.1 billion yuan, net inflows continued to 79 on February 4.

8.7 billion.

  At the same time, insurance 佛山桑拿网 funds actively rushed to raise A shares. According to incomplete statistics, the minimum amount of the dips on February 3 may exceed 10 billion.

  ”The epidemic will definitely have an impact on the market, but the epidemic will always pass.

On February 3, the Shanghai Composite Index plummeted by 8%, the limit of thousands of shares fell, and a large number of high-quality assets hit a 10% discount. This is the time to find a bargain.

As an institution, it will definitely not look at the rise and fall of a day or two, or six months or even longer.

A person in charge of an insurance company told a 21st Century Business Herald reporter.

  Large-scale insurance institutions issued internal instructions to equity investment managers: on February 3, they cannot be sold on the net.

The so-called cannot be sold on the net, that is, the position cannot be decreased, but there is still room for adjustment, and some exchange C shares for D shares.

  The reporter learned from the situation of senior large-scale insurance institutions that the operation of equity investment managers of insurance institutions requires fewer people to adjust positions, and to make up or make a bottom.

  An investment manager of a small insurance company in South China said: “First, because there are too many stocks with limit stops, if you want to sell them, it is more important to be optimistic about the future performance of A shares.

Low interest rates are an indisputable fact, and this situation may be the main tone for a long time in the future. Against this background, the allocation of risk assets by institutions will definitely be strengthened.

Coupled with the regulator’s care of the market, we think that the market has much to do this year.

The above investment manager believes that although the macro economy still has difficulties at present, the market must bottom out before the real economy bottoms out.

“The plunge on February 3, the Shanghai Composite Index lowered to around 2700 points, from this point of view, the risk is more likely.

“On February 1, Cao Yu, Vice Chairman of the CBRC, answered a reporter ‘s question on financial support for epidemic prevention and control and financial market stability. He said that insurance companies with better solvency premium rates and better asset compensation conditions allowed them to make 30%Properly increase the investment proportion of equity assets on a higher basis.

  At present, the investment philosophy of insurance companies has not changed significantly. Underestimation is still the primary factor to consider. Finance, real estate, and infrastructure are still the key areas of the layout.

“Technology, new energy and other stocks will also try, some related concept stocks of Tesla and so on.

“The investment manager said.

  Tan Kai, an analyst at Yuekai Securities, said in a research report: The annual insurance capital investment ratio is still low.

The highest growth rate of funds for the insurance industry The total growth rate of asset management business is relatively high.

The surplus of insurance funds in 2018 increased by 10% each year in 2017.

In addition, the main investment areas of developing countries’ insurance capital are bonds and other investments, and stocks account for a relatively small proportion. At present, the proportion of long-term insurance capital investment stocks and securities investment funds does not exceed 13%.About 3%, plus the proportion of enterprise annuities and social security funds is less than 4%.

  Tan Yan believes that, through the resonance of internal and external factors in the industry, insurance capital is expected to speed up.

In particular, the non-standard just made a breakthrough and strengthened the demand for insurance capital to enter the market.

At the end of 2018, non-standard assets of major listed insurance companies in developing countries accounted for about 20% -30%.

On November 22, 2019, the CBRC issued the “Interim Measures for the Management of Insurance Asset Management Products (Consultation Draft)”, which stipulates that for non-standard claims, all insurance assets managed by the same insurance asset management agency must not exceed at any point in time.It manages 35% of the net assets of all portfolio insurance asset management products and explicitly prohibits rigid redemption.

(Edit: Ma Chunyuan)