So far this year, insurance funds have been playing a "short" role. As the China Life Insurance (601,628, it shares) (601628.SH), China Ping An (601,318, it shares) (601318.SH) and China Pacific Insurance (601,601, it shares) (601601.SH) This 3 insurance premiums Income and the number of insurance funds can be used in the industry accounted for the vast majority of proportion, analysis of their behavior can be found throughout the general insurance funds.
Three of the Quarterly Bulletin of the three major insurance stocks have all announced that their profits are not a significant decline in the market than expected. On the whole, the China Life Insurance (601,628, it shares), Ping An of China (601,318, it shares) and the China Pacific Insurance (601,601, it shares) in the third quarter were 2,339,000,000 yuan of profits, losses and 7,807,000,000 yuan loss 1,636,000,000 Yuan, net profit fell by 46.91 percent, 315.9 percent and 184.9 percent. China Life Insurance has also become a 3 share in the last quarter only to make money. By comparing them to the public capital flows, the author found that "the rights and interests of reducing investment, increasing investment in fixed-income category," the strategy they become in the last quarter of a common ground.
However, after careful comparison was able to find three top 10 companies are Chong Canggu have taken place in no small change, or change in the proportion of investment, or investment in plant species. CITIC Securities (600,030, it shares), Minsheng Bank (600,016, it shares), the Industrial and Commercial Bank (601,398, it shares), China Construction Bank (601,939, it shares), China Shenhua (601,088, it shares) and other "large" blue-chip China Life still appear in the top 10 list of Chong Canggu, but the above-mentioned shares was to reduce the considerable range; while Baosteel and the Bank of China (601,988, it shares) to be simply "thrown" out of top 10. A similar situation occurred in China Ping An and China Pacific Insurance body, the former top 10 in the former Chong Canggu only retained the Minsheng Bank (600,016, it shares), Shanghai Pudong Development Bank (600,000, it shares) and Shenzhen Development Bank only A 3 Unit; the latter will be Haitong Securities (600,837, it shares), the development of deep-A, Industrial and Commercial Bank (601,398, it shares), China Unicom (600050, and it shares) made a reservation. It should be noted that because of Haitong Securities (600,837, it shares) in 2008 to implement a 2007 profit reserve Zhuanzengguben capital and the distribution of the program, although the result of the China Pacific Insurance Haitong Securities investment, but no increase in the shareholding The number of changes.
Through this analysis, we can see that in September the bank as a whole since the crash, but its three major insurance companies still "love" and the reduction appears to be adopted in order to sell out to lower the costs in order to ensure that the proceeds are, to sell Ping An of China Shanghai Pudong Development Bank (600,000, it shares) is a typical example.
3 If the reduction in insurance stocks and bank shares to retain part of the strategy there are still some similarities, their "support base" strategy on the different. They are from the Quarterly Bulletin published in the top 10 is not hard to see Chong Canggu, insurance companies in the third quarter increased fund allocation, and some have even accounted for more than half. The difference is that China Life Insurance as the largest institutional investors for index funds has shown considerable interest in selling part of the VISA and the reduction of bank shares and steel shares, Castrol 300, easy to up to 50 Index (price, net The Fund now), the Great Shanghai and Shenzhen 300 (prices, the net, let Fund), such as index funds appear in the top 10 list.
China's Ping An is a "replacement" strategy, the top 10 of the original will Chong Canggu SsgaCash-Fund, HSBCUSDL-Fund, JPMM-MKTFund and GoldmanUSDL-Fund, and other overseas funds to replace and replace it with some of the bond and money funds, show A safe investment style difficult to obtain. This may be related to China Ping An insurance for the full year profit can not be separated from that goal. In terms of investment in the first half of this year, performed well in the third quarter of China Pacific Insurance's "support base" a bit radical, which recently deployed China 50ETF, voted on Alpha, Warburg advanced growth of the Chinese growth advantage (market, the net, let Fund), Rich-day value of benefits (price, net, let Fund), Anshun Fund (market, the net, let Fund), and other more radical varieties of the Fund. The semi-annual report in the first three at the status of Chong Canggu Panzhihua Steel Vanadium (000,629, it shares) did not appear in the third quarter of the top ten list of major.
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