Risk capital hand 1.5 trillion a32unition band operation

"We are not the people's Liberation Army, currently impossible under the background big gallon. "June 16, in Lujiazui (600,663, unit) in a cafe near the central Greenland, Zhang Dacheng (aliased) against journalists smiled, looked looked fairly easily. Zhang Dacheng is currently in a State-owned insurance asset management companies as investment Director, management of tens of billions of investment funds in his hand. Successful escape top "earlier this year we did successfully escape the, which is fortunately. "Zhang Dacheng admitted to jiancang shares in the first quarter of the company. 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According to reported, insurance funds in the jiancang range maximum of is Chinese life (601,628, unit 's), its a quarter holding market reduced has 10.942 billion yuan, accounted for its total holding market about 20%; second is Taikang life, reduced has 1.227 billion yuan, accounted for total market about 30%; Taiping life reduced has 300 million Yuan, accounted for its total market of 70%; China peace (601,318, unit 's) more is from last year end began on appears has substantially redemption Fund and reduce stock positions of action, scale up billions of of giant, a quarter also has small jiancang. "Overall insurance fund is to outperform the index, excess profits exists, so shorting blameless, after all, insurance funds are generally conservative. "Zhang Dacheng said," but also great pressure. "Statistics show that 4 months before the investment of insurance funds for the $ 2.8 trillion, total assets had reached to $ 4.3 trillion, 1.52% the average rate of return for insurance money douzeng the pressure in the coming months. China insurance regulatory Commission Chairman Wu dingfu pointed out at the 2010 insurance information now "is expected to have more than $ 1.5 trillion insurance funds required to reconfigure". "Analysis and discussion on meet every day, sleep is sleeping well. "He said. This year new shares break, insurance funds also folded plume many of the new shares. It is learnt that, due to offline purchase, have a limited period of 3 months, once the market has changed, new money through selling stock fled, so insurance companies prefer the band operation through the secondary market to buy these stocks to help themselves. -Band operation in fact, not only to buy new shares self-help, in late May in a few trading days, insurance funds on the market actions. "At the point at around 2,600, has dropped 20%, while fundamentals more and not very obvious deterioration in early, part of the company's valuation has also been very attractive, risk capital gallon is normal. "Zhang Dacheng recognized companies when purchasing some Fund," but not as big as China. "" Relatively early point in the market at the time much greater margin of safety ", he explained that the monthly inflow of insurance agencies, need to be configured, so purchase funds more actively. "From a valuation perspective, we have no reason to future too pessimistic. "He said," let alone from the economic environment is also not so bad. "He accepted" full year GDP growth of about 9.9% "is expected as well as" listed company results for the year is expected to keep growing around 25% "point of view. In addition, the regulatory levels passed out some brought some encouraging information but also to insurance companies. It is learnt that the China insurance regulatory Commission departments May have held a number of special meetings at the end, discuss adjustment insurance fund investment policies, including stock and fund investment ratio, ratio of investment in debt plan, bond investments and many other aspects. Which interest class investment aspects, insurance regulatory Commission previously provisions stock and fund investment total does not over company total assets of 20%, are intended raised for 25%; stock and stock type fund investment balance adjustment for 20%, total consider, no longer separate for stock and the stock type Fund set limited; single stock of investment proportion ceiling for listed company total equity of 10%, does not over insurance company Shang quarter total assets of 1%; over listed company total equity 10% and insurance company Shang quarter total assets 1% of, required also approval; investment lock period over 3 months of balance, does not over can investment stock assets of 30%. "The ratio of investment in China insurance regulatory Commission to relax, just make our operations more flexible, we can point full gallon as it thinks fit, to get the investment of excess profits. Is proportional to the potential benefits and the risks are, however, relaxation of investment restrictions is a double-edged sword, hidden in high returns in the high risk. "Zhang Dacheng said. "The stock market is at the end of which point to build and can not copied to the end is hard to say, we are currently only looking for some hot points-band operations, see empty but not short. "He said, a share valuation is relatively low at present, China insurance regulatory Commission considering the relaxation of risk capital investment in the stock market restrictions this node also has security side. But Zhang Dacheng recognition of low-carbon economy and new sources of energy is a hot spot of the market today, insurance company investment staff attention more. "In-band operation any time, any fields you can, for example, we sold some property stocks in the near future, but does not mean total abandonment of property stocks, which only investment used a manual, after all, making money is King. "He said. Industry analysis, low value blue chip is likely to become the focus of risk capital next direction. Judging from the industry, mainly to increase its stake in electronic components, three major industries such as pharmaceutical, biotechnology and chemical class a shares. Static brake even though small, Zhang Dacheng admitted in times of stock market turbulence following, his day more sad. "The market is still not found direction. Recently a few trading days to poor, weak hard to change, coupled with the line, repression, some market who was completely empty, and the optimists have begun to return to cautious wait-and-see State. We recognized the bottom at the same time, also maintained a rational. "Perhaps IPO may boost the investment climate in the market? "In macroeconomic regulation and control, before the master has not changed its policy of monetary tightening, the market is still difficult to have a big rally in the short term. "Zhang Dacheng shook, drove seemed to slip to the pessimistic atmosphere. "Clearly, the market has fallen over, if all valuation basis, certain areas ofStocks could have bought. "He changed after a more comfortable position went on to say," but now macroeconomic trends remain uncertain, decision of 6 July is the sensitive period, everything after macro-data. "" Recently, I was watching CCTV hit of the three countries, before the market hasn't been clear the smartest approach is based on the static brake. "He ends up drink in the glass has cooled the coffee, and then look into the window. He air reminded reporters of calm good keep Sima Yi.