Various institutions to buy a large scale a hidden behind the prosperity of investment risks jkforum

Behind the various agencies buying heavily graded A hidden investment risk, prosperity reporter Wu Xiaojing Yu Yong, editor of "sensitive" funds is always good at finding opportunities. With the rise in the risk of default of credit debt, with bond properties and no default risk rating A, become the object of mutual funds sought after. Over the past six months, the insurance "Predators" become the biggest buyer of A grade. At the same time, all kinds of information management plan, private equity products, fund accounts and even quantitative hedge funds have generous layout of grade A, part of the classification of A is almost completely Kongpan institutional investors". With all kinds of continued influx of capital, grade A this year secondary market performance is very brisk, prices up sharply, the industry expected, new era of grade A or will enter the overall premium, which means that the share of A was "proud" fold down protection will become risk. In fact, in recent years, a number of industry insiders frequently prompted the risk of hidden A classification. Insurance is the largest "Predators" to buy furniture preparation grade A excellent risk benefit ratio, in the past six months, become a major products of various types of institutional investors to configure. According TX statistics, as many as 62 grade A at the end of the first half share of institutional investors accounted for more than 80%, among them, 29 grade A at the end of the first half of the share of institutional investors accounted for more than 90%. 800 Prudential Financial A, A and A commercial real estate fund classification by institutional investors "almost completely Kongpan, which accounted for as high as 98.93%, 98.55% and 97.62%. In addition, the largest brokerage A, in six months time, the proportion of institutional investors held further increased from 72.23% to 84.53%. The institutions to hold the highest proportion of Prudential Financial A 800 as an example, the top ten holders of funds, insurance funds accounted for 7 seats. Among them, ICBC AXA Life Insurance Company Limited shares held by the proportion of the total listed shares of up to 14.61%, in addition to the 3 venture capital shares held by the proportion of the total listed shares were more than 10%. The heavy hand of the insurance "Predators" apparently became the biggest buyer in grade A, CICC fixed income analyst, insurance funds also face serious asset shortage, reduce debt projects and have expired, the second half of the deposit agreement expires amount is larger, higher yielding assets is hard to find, and because the higher cost of capital holdings insurance institutions for A grade massive growth. According to the statistics, the insurance for holding the proportion of grade A far more than other institutions, occupy half of the country in the top ten holders. CICC solid analysts believe that, due to the cost of valuation, income tax exemption, grading A is still not low cost assets. According to the degree of participation of the current insurance agencies, there is still further increase the level of investment in A space. A massive influx of funds continued to "target" A grading the quality of assets is not only the insurance agency, it is reported that all kinds of information management plan, private equity products, fund accounts and even quantitative hedge funds have a large influx of grade A. Insiders said that the number of fund accounts, private equity products and behind the information management plan is from the bank’s outsourcing funds, these institutions pay more attention to the value of grade A "eat coupon". It is worth noting that the quantitative hedge.相关的主题文章: