New China Life Insurance and China Life jointly invested 50 billion yuan to set up a private equity fund to invest in high-quality shares of listed companies.
New China Life Insurance announced on the evening of November 29th that the company and China Life respectively invested 25 billion yuan to jointly set up Private Equity Investment Fund Co.,爆炸资讯 Ltd. (hereinafter referred to as "Private Equity Fund"). Xinhua Assets and China Life Assets respectively invested 5 million yuan to jointly set up a fund manager to serve as the manager of the above private equity fund.
Shanghai securities news learned from China Life Insurance that the private equity fund intends to invest in the stocks of high-quality listed companies with good corporate governance and stable operation, and conduct investment and operation according to the principle of marketization, grasp the opportunity of opening positions according to the market situation, and dynamically optimize the strategy.
According to the announcement of New China Life Insurance, the name of the private equity fund is Honghu Private Equity Investment Fund Co., Ltd. (tentative name, subject to the approval and registration of the administrative department for industry and commerce), and the name of the fund manager is Guofeng Xinghua Private Equity Fund Management Co., Ltd. (tentative name, subject to the approval and registration of the administrative department for industry and commerce).
The announcement issued by China Life Insurance shows that the term of the pilot fund is 10+N years, and the initial filing period of the fund is 10 years. After the expiration of the 10-year period, it can be extended by changing the filing method.
China Life said that the company and New China Life Insurance, as large life insurance companies, can give full play to their investment advantages by jointly setting up funds to invest in high-quality listed companies for a long time, which is an innovation and attempt to further improve asset-liability management and optimize investment methods. At the same time, it is also conducive to giving full play to the positive role of insurance institutional investors, expanding the breadth and depth of insurance funds participating in the capital market, and realizing the benign interaction and common development between insurance funds and the capital market.
New China Life Insurance said that this investment is in line with the relevant national policies and the overall strategic development direction of the company in the future. Further increasing the long-term investment assets in line with the company's investment strategy, optimizing the asset-liability matching of insurance funds, and improving the efficiency of fund use will not affect the company's normal production and operation activities, and will not have a major adverse impact on the company's normal production and operation, and there is no harm to the interests of the company and all shareholders.
In the eyes of the industry, it is very rare for listed insurance companies to jointly set up private equity funds. The establishment of private equity funds by the above two insurance companies may give full play to their differentiated advantages in management and resources, jointly find suitable high-quality assets, and continuously increase investment income.
Some market participants believe that the cooperation between New China Life Insurance and China Life Insurance may be aimed at responding to the regulatory call and supporting the steady development of the capital market.