CPIC to seek better yields from investments
By Zhang Fengming |
April 21, 2010, Wednesday
|
Print Edition
Print Edition
CHINA Pacific Insurance (Group) Co will deepen its investment in fixed income and infrastructure to seek better returns, senior executives of the firm said yesterday.
"We'll raise our fixed-income asset allocation," Yu Yeming, chief executive officer of Pacific Asset Management Co, the asset management arm of China Pacific, said yesterday during a media briefing.
The insurer's fixed-income investment portfolio fell from 86.8 percent to 74.4 percent last year. It will also expand its investment in the infrastructure sector.
"The tighter monetary policy this year will offer insurers ample capital opportunities in the infrastructure segment," Yu said.
The insurer's infrastructure investment rose to 18.4 billion yuan (US$2.7 billion) at the end of last year, a jump of 181 percent from a year ago.
The third-biggest insurer in China will closely monitor macroeconomic developments and tap the equities market to earn bigger returns, said Yu. Its equities investment rose from 4.8 percent to 12.3 percent last year.
China Pacific, partly owned by Carlyle Group, said its net earnings almost tripled last year to 7.36 billion yuan from a restated 2.57 billion yuan in 2008.
"We'll raise our fixed-income asset allocation," Yu Yeming, chief executive officer of Pacific Asset Management Co, the asset management arm of China Pacific, said yesterday during a media briefing.
The insurer's fixed-income investment portfolio fell from 86.8 percent to 74.4 percent last year. It will also expand its investment in the infrastructure sector.
"The tighter monetary policy this year will offer insurers ample capital opportunities in the infrastructure segment," Yu said.
The insurer's infrastructure investment rose to 18.4 billion yuan (US$2.7 billion) at the end of last year, a jump of 181 percent from a year ago.
The third-biggest insurer in China will closely monitor macroeconomic developments and tap the equities market to earn bigger returns, said Yu. Its equities investment rose from 4.8 percent to 12.3 percent last year.
China Pacific, partly owned by Carlyle Group, said its net earnings almost tripled last year to 7.36 billion yuan from a restated 2.57 billion yuan in 2008.
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