保险行业:险资红利策略2.0

华泰证券股份有...
Oct 24

战略上坚持,战术上灵活1H25 险资加速配置红利股,上市公司增配红利股近3200 亿元,超过去年全年增配规模。由于现金收益持续下降,险资仍不得不倚重红利投资,但红利股估值抬升和股息率下降对险资红利策略形成挑战。险资红利策略可能已经告别“买买买”的1.0 阶段,进入精挑细选、左右平衡的2.0 阶段,需要在获取稳定现金收益的同时降低资本亏损概率,同时需要考虑是否止盈以及跌价风险。在估值已经明显抬升之后...

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