A number of insurance companies have increased their positions in financial stocks, and the positions of individual head companies have been increased

category:Finance
 A number of insurance companies have increased their positions in financial stocks, and the positions of individual head companies have been increased


After communicating with a number of insurance institutions, the reporter learned that the main logic for insurance companies to continue to increase their positions in recent days is: they predict that the pro cyclical market will continue until next spring. Therefore, they followed the trend and mainly increased the undervalued and warmer fundamentals of the financial sector.

The power of adding positions comes from their optimistic anticipation of the market. A number of directors of equity Department of insurance institutions interviewed believe that under the expectation of gradual economic recovery, compared with the bond market where credit risk has not yet completely dissipated, the stock market has better liquidity and clearer trend, and the medium-term trend is worth looking forward to.

The above investment managers said that in an environment of stable liquidity and warmer fundamentals, the value and rotation strategy is better than the growth strategy. Therefore, until next spring, the main logic of the market will be Macroeconomic recovery and gradual normalization of policies.

The reasons why these insurance companies allocate the financial sector are as follows:

First, with the strengthening of the expectation of economic recovery, the quality level of financial assets is gradually restored, which is especially conducive to the quality of financial assets of lending business.

Third, from the perspective of business cycle in the medium-term dimension, the financial industry has a high degree of certainty. Combined with the current valuation, both horizontal and vertical comparison, the financial sector has a strong attraction.

Among them, a person in charge of the equity Department of an insurance company disclosed that in the financial sector, they oversupplied the insurance sector. The reason is that there is certain certainty in the positive trend of the medium-term prosperity of the insurance industry, which will bring a wave of valuation repair market.

It is mainly reflected in the following aspects: the premium income of listed insurance companies has a high growth trend, and the core indicators of the year-on-year growth rate of new policy premium income and the year-on-year growth rate of new business value are highly deterministic. In addition, interest rates have stabilized and recovered, and the pressure on insurance companies reserves and asset reallocation has been suspended; the current valuation of the insurance sector is at a historical low, and the significant allocation value is also an important reason.

For yesterdays high opening and low going of the financial sector, the insurance institutions interviewed generally said that this shows that there are still differences between capitals. A number of institutions insist that the valuation repair of the financial sector will continue; others believe that the process of valuation repair is not accomplished overnight, and there may be repeated shocks during the period. In addition to financial stocks, the cyclical industry benefiting from the improvement of economic fundamentals is also another key sector for insurance institutions to increase their positions. According to the information that many insurance institutions have focused on recently, their favorite targets are mainly concentrated in: the leading cyclical stocks led by the energy and chemical industry industry, such as some sub industries of nonferrous metals, coal, chemical industry and machinery; and some industries with upward trend of science and technology or high-end manufacturing, especially new energy and military industries; and some optional consumer stocks, such as short-term stock prices The auto and home appliances sector has been adjusted. Source of this article: Yang Bin, editor in charge of Shanghai Securities News_ NF4368

For yesterdays high opening and low going of the financial sector, the insurance institutions interviewed generally said that this shows that there are still differences between capitals. A number of institutions insist that the valuation repair of the financial sector will continue; others believe that the process of valuation repair is not accomplished overnight, and there may be repeated shocks during the period.

In addition to financial stocks, the cyclical industry benefiting from the improvement of economic fundamentals is also another key sector for insurance institutions to increase their positions. According to the information that many insurance institutions have focused on recently, their favorite targets are mainly concentrated in: the leading cyclical stocks led by the energy and chemical industry industry, such as some sub industries of nonferrous metals, coal, chemical industry and machinery; and some industries with upward trend of science and technology or high-end manufacturing, especially new energy and military industries; and some optional consumer stocks, such as short-term stock prices The auto and home appliances sector has been adjusted.