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Zhongyuan Securities Huang Xiang
According to the latest report of Xinhua News Agency, the reporter learned from many interviews that the CIRC has indeed approved an internal resolution to allow the adjustment of the proportion of insurance funds entering the market in the form of an internal resolution, in response to the recently focused issue of "the CIRC to increase the proportion of insurance funds entering the market". These include: the proportion of direct investment in the stock market has increased from 5% of the total assets at the end of last year to 10%, while the proportion of accessing the market through the purchase of funds has decreased from 15% to 10%, and the total upper limit of equity investment has remained unchanged at 20%. According to the statistics of the CIRC, as of the end of March this year, the balance of insurance fund utilization was 2.04 trillion yuan, including 373.26 billion yuan of stock investment and fund investment, accounting for 18.3%. By the end of May, the balance of insurance fund utilization had risen to 2.21 trillion yuan. According to the proportion of increasing investment in A-shares from 5% to 10%, the new investment in A-shares could reach 100 billion yuan, which naturally has an impact on the current market. Then, how much will the increase in the proportion of insurance funds entering the market directly affect the current market? We believe that this is undoubtedly a great benefit for the heavy position stocks of insurance funds! Among them, those with outstanding growth and significant year-on-year growth in performance in the first quarter of this year Jinyu Group (600201), it is very likely to get a large increase in the holding of insurance funds! It seems that the investment value of the stock has been very prominent, and the short-term blowout market is about to start!
For a long time, the reinvestment of insurance funds, which is related to the national economy and the people's livelihood, has been in a dilemma: in the past, the total amount of insurance funds was not large. It not only had to guard against risks to ensure the need for normal claims payment, but also focused on sustainable development, and directly invested some insurance funds in certain financial fields to achieve value-added. For well-known reasons, China's stock market, which has been in a bear market for several years, has a high risk. Therefore, it is a very necessary and responsible attitude to limit the proportion of insurance funds directly investing in A-shares. With the growth of the total amount of insurance funds and the establishment of the long-term bull market trend in China's A-share market, increasing the proportion of insurance funds entering the market is not only the need to maximize the profit of insurance funds, but also provides a reliable guarantee for the sustainable development of insurance funds.
Benefiting from the bull market, the use of insurance funds last year achieved the best level of return in the past three years. Since this year, the wealth effect brought by the stock market has continued. According to the latest statistics of the CIRC, in the first half of this year, the income from the use of insurance funds reached 137.4 billion yuan, up 260% year on year shares And unlisted equity investment accounted for 72.9% of the total income.
It is reported that while the proportion of insurance funds directly investing in A-shares has been raised from 5% to 10%, the proportion of insurance funds investing in securities investment funds (excluding money market funds) will be reduced from 15% to 10%. In other words, the upper limit of equity investment of insurance funds is still 20%. Such policy changes have adapted to market changes.
Data shows that by the end of 2006, insurance funds had invested 92.924 billion yuan in stocks, up 484.86% from the beginning of 2006; Investment in securities investment funds was 91.208 billion yuan, down 17.61% from the beginning of the year. Increasing the proportion of investment stocks and reducing the proportion of investment funds meet the needs of insurance fund application for a period of time, and can improve the flexibility of insurance fund investment, so as to control risks from the overall allocation ratio.
As for what kind of stocks insurance funds will buy, this is undoubtedly the focus of investors' attention at present. I believe that insurance funds will continue to adhere to the basic principles of sound investment, and that those blue chips and other blue chips with good fundamentals, performance support, and stable returns will undoubtedly become the first choice for insurance fund investment, Especially for the varieties that have been heavily held before, the insurance funds will undoubtedly further increase their holdings.
Among them, Jinyu Group (600201), with outstanding growth and substantial year-on-year growth in its performance in the first quarter of this year, is very likely to get a substantial increase in insurance funds!
Jinyu Group (600201) focuses on bio pharmaceutical and real estate Develop diversified industrial groups as leading industries. There are Inner Mongolia Biological Medicine Factory, Inner Mongolia Jinyu Land Co., Ltd., Inner Mongolia Shandan Cashmere Products Co., Ltd. and other enterprises under it. The company's net profit in the first quarter of this year has increased by more than 100% compared with the same period last year, and there is no doubt that the medium-term performance of this year will increase significantly!
According to public data, as of the end of the first quarter of this year, China Pacific Life Insurance Co., Ltd. and China Pacific Property Insurance Co., Ltd. held 3.907 million shares and 1.035 million shares of Jinyu Group (600201) respectively, both of which were among the top 10 circulating shareholders of the company.
Obviously, after the CIRC has decided to increase the proportion of direct investment of insurance funds in the stock market from the original 5% of the total assets at the end of last year to 10%, such excellent varieties as Jinyu Group (600201), which had been heavily held by insurance funds before, will undoubtedly become the best choice for insurance funds to increase their positions! It seems that the investment value of the stock has been very prominent, and the short-term blowout market is about to start!
Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.
