As an important part of the “second pillar” of China’s pension system and the long-term funds of A-shares, the operation of enterprise annuities has received much attention.
At the third quarter press conference held by the Ministry of Human Resources and Social Security recently, Lu Aihong, a spokesperson for the Ministry of Human Resources and Social Security, said that the Ministry of Human Resources and Social Security is currently organizing local implementation of the central adjustment system for basic endowment insurance funds for enterprise employees and deploying specific fund allocation work. .
According to the report of the National Enterprise Annuity Fund Business Data released by the Ministry of Human Resources and Social Security, in the first half of the year, the total size of national enterprise annuity accumulation funds increased by more than 80 billion yuan from the end of 2017, and the cumulative total scale reached 136.767 billion yuan, and the overall income was stable.
According to the "Administrative Measures for Enterprise Annuity Funds", the proportion of equity products such as enterprise annuity investment stocks and equity funds, hybrid funds, and investment-linked insurance products (the proportion of stock investment is higher than or equal to 30%) shall not be higher than that of investment portfolio enterprises. 30% of the net value of the annuity fund.
Some insiders said that with the gradual expansion of the enterprise annuity scale, if 30% of the funds enter the stock market, then there will be more than 400 billion yuan into the market.
Shang Zhenyu, managing director of China Post Securities, said in an interview with Securities Daily that the enterprise annuity is a supplement to the pension. The entry into the market is not fundamentally different from the pension, but the management institution is different from the pension. Pensions are usually administered by the National Social Security Fund Council, while enterprise annuities are managed by fund companies and insurance companies. In terms of investment style, both are stable. In terms of investment target selection, most of them are mainly debts. The scale of equity products is 30%, and stocks prefer blue chips, high scores, and value growth.
The "Securities Daily" reporter learned from the China Settlement Statistics Monthly that as of the end of October this year, the number of A-share accounts opened by enterprise annuities was 7,256. Among them, the number of newly opened stock accounts since this year is 449.
Fu Lichun, research director of Northeast Securities, told the Securities Daily reporter yesterday that according to overseas investment experience, the enterprise annuity market helps to improve the investor structure by optimizing the investor structure, thereby promoting the formation of value investment concepts and enhancing market stability. Sexuality further promotes the healthy and orderly development of China's capital market.
(Article source: Securities Daily)