Steady growth of occupational annuity is expected to promote market structure optimization

Steady growth of occupational annuity is expected to promote market structure optimization
A few days ago, a person in charge of a large-scale professional annuity investment management agency told a reporter from China Securities Journal that professional annuity investment has been operating at a fast pace. There have been professional annuity funds in 15 places to start investment operations. It is conservatively estimated that the actual accounted capital has exceeded 300 billion yuan.There may be another wave of growth before the first quarter.  Initial sources said that the progress of institutionalization represented by pensions is a general trend.In the long run, “long money” including pensions is expected to increase the allocation of equity markets and promote the optimization of the A-share market structure.  Occupational annuity investment operations have progressed more rapidly. Occupational annuity investment operations have started one after another, and progress is currently fast.The head of the first-level professional annuity investment management agency told the reporter of China Securities Journal that including the central state organs and institutions, provinces, autonomous regions, municipalities and the Xinjiang Production and Construction Corps, 15 local professional annuities have started investment operations, and conservative estimates have been made.The scale has exceeded 300 billion yuan.  ”The current concentration of professional annuities is likely to usher in a wave of growth from the end of this year to the first quarter of next year, and the total scale will reach another level.”A person in charge of a pension investment management agency said that in the future, professional annuities will grow rapidly and become very explosive.The enterprise annuity scale is about 1.At 6 trillion yuan, if the annual growth rate of the enterprise annuity is about 15%, it is estimated that after three to four years, the scale of professional annuity is expected to catch up with or even exceed the enterprise annuity.  According to the “Interim Measures for the Management of Occupational Annuity Funds”, occupational annuity funds involve multiple roles: beneficiaries, clients, agents, trustees, custodians, investment managers, etc.For related institutions, the promising professional annuity fund is “a battleground for soldiers.”  ”It is understood that the scale of the management of some enterprise annuities is currently comparable to that of enterprise annuities, and even exceeds that of enterprise annuities.”Some pension investment management experts said this reflected the explosive power of this business from one aspect.  The experience of the A-share market structure or optimization of mature markets shows that the institutionalization process represented by pensions is the general trend.Industrial Securities Research believes that in the development of overseas markets, the increase in institutionalization is a major feature of the market’s maturity, and the role of long-term funds represented by pensions cannot be ignored.  Industrial Securities analysis, real estate absorption of long-term funds, the property attributes of real estate in the future will be reduced, the wealth of local residents will increase the allocation of pensions.The “long money” in the future real estate market is expected to gradually shift to the equity market.  Including the investment preferences of pensions within occupational annuities. From past experience, pension investment styles have been stable for a long time, focusing on investing in industries or stocks with stable operations, excellent performance, underestimates, and high dividends. Blue-chip stocks are more favored.  An annuity manager of a large insurance company 苏州桑拿网 weighed. At the beginning, most investment managers adopted a relatively balanced strategy with a small degree of differentiation. After subsequent historical performance, dynamic management will be carried out.  Looking at the style preferences of professional annuities, the director of the pension business of another large institution also pointed out that this part of the funds will be more cautious in terms of stock investment, which is expected to benefit real high-quality, alternative companies in the market.He is outstanding. The market should see more optimization of the future market structure, rather than a significant increase in capital supply in the short term.  What the bank’s wealth management subsidiaries plan to enter is that the bank’s wealth management subsidiaries that have been established one after another are 重庆耍耍网 paying close attention to the pension market.  Pan Dong, general manager of China Everbright Bank’s asset management department, wrote a few days ago that if the wealth management subsidiary supplements the pension system and becomes the investment manager of the pension system, and the wealth management subsidiary products supplement the investment scope of the pension fund, it will open up banking channels and provide pensionsThe key breakthroughs of Jinjin funds and capital markets can achieve the effect of “one stone, three birds”: first, promote the conversion of savings to the third pillar through bank channels, reduce the high savings rate and increase the size of the third segment; second,Transforming into direct investment funds can greatly promote the development of direct financing, improve the efficiency of capital allocation, and reduce the debt rate of their companies. Third, they can date long-term and stable funds for the capital market, support innovative corporate financing development, and promote economic growth from a high speed.Growth turned to breakthrough development.  ”We will certainly actively communicate and obtain relevant qualifications.”” A person from a bank wealth management subsidiary said.Regarding the staffing of bank wealth management subsidiaries of market officials, the above person said, “We are forming a relevant team.”The above-mentioned pension investment management experts also said that in the pension investment management market, it is a good thing for various types of institutions to initiate competition. An open ecology is always better than a closed ecology.It is important to try to ensure fair policies in this competition.