Ping An posts positive 2023 returns amid China market slump
The insurer believes the Chinese market is bottoming out. It will also continue to add exposure to high-dividend stocks, which contributed to its positive return last year.
Ping An Insurance Group recorded a 3% total investment return in 2023, amid an economic slowdown in China coupled with falling interest rates and a slumping stock market.
This is mainly due to a balanced asset allocation strategy and a year-on-year improvement in the performance of equity assets, according to the insurer's annual report released on March 21.
“We have a balanced allocation between fixed income and equity, and between growth stocks and value stocks, which enabled…
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