What Is an Indexed Annuity?

China Annuity Index was initiated and compiled by (originally: Beijing Laibo Social Security Technology Development Co., Ltd.). The relevant experts and scholars from 9 units including the Institute of Social Security of Renmin University of China and China Actuarial Research Institute of Central University of Finance and Economics joined the China Annuity Index Expert Committee to participate in the study. The discussion was officially released on March 18, 2008, with a base period of 2004 and a base period of 1,000 points. The index series is divided into nine indexes for each of the A and B groups.

China Annuity Index

Right!

China Annuity Index was initiated and established by (originally: Beijing Laibo Social Security Technology Development Co., Ltd.),

The calculation method uses a weighted weighting method, and the sample uses the ChinaBond Composite Index, the CSI 300 Index, and the money market according to different annuity fund asset allocation ratios. The China Annuity Index aims to formulate reasonable asset allocation ratios for the Chinese enterprise annuity fund investment market, and to provide a suitable performance evaluation benchmark for investment management in the Chinese annuity fund market. It promotes healthy competition in the annuity market and promotes compliance, safety, Steady development. The China Annuity Index Expert Committee has well-known experts and scholars from various fields at home and abroad to join in and propose reasonable and authoritative annuity investment strategies. In order to further deepen the authority of China's annuity index and promote the steady development of the annuity fund market, the China Annuity Index Expert Committee decided to convene an expert committee meeting every quarter.

The China Annuity Index is updated daily and the weights are adjusted quarterly.

The goal of the China Annuity Index is to provide suitable performance evaluation benchmarks for the investment management of the Chinese annuity fund market, and to promote investment management of the Chinese annuity fund market. Based on the principles of compliance, security and liquidity, performance evaluation standards From the emphasis on absolute profitability to the emphasis on relative profitability ^[1]

China Annuity Research Association

Institute of Social Security, Ministry of Human Resources and Social Security

China Social Security Research Center

Institute of Social Security, Renmin University of China

Financial Information Center of Renmin University of China

China Institute of Actuarial Science, Central University of Finance and Economics

China Enterprise Annuity Net Research Center

China Insurance and Social Security Research Center of Peking University

China Economic Index Evaluation Center

Research Center of State-owned Assets Supervision and Administration Commission of the State Council

China Securities Regulatory Commission

China Insurance Regulatory Commission

The compilation method of China's annuity index system is: ChinaBond Composite Index, Shanghai Stock Index, Shanghai and Shenzhen 300 Index, money market, according to different annuity fund asset allocation ratio, weighted calculation into a series of annuity index.

According to 2003 Order No. 20 of the Ministry of Labor and Social Security of China on the "Trial Measures for Enterprise Annuities". The China Banking Regulatory Commission, China Securities Regulatory Commission, China Insurance Regulatory Commission, and the Ministry of Labor and Social Security of China jointly issued Decree No. 23, "Trial Measures for the Management of Enterprise Annuity Funds". Effective from now on. Regarding the provisions on the scope of corporate annuity fund property investment, by 2013 China's annuity fund market conditions, a weighted combination of three types of asset ratios: fixed income, stock equity, and current assets will form an annuity index series of 18 Chinese annuity indexes. It is divided into 9 indexes of group A and 9 indexes of group B.

The main difference between Group A and Group B is the selection of the stock return sample index. Group A prefers the Shanghai Stock Index to the Chinese stock market, and Group B prefers the CSI 300 Index to the concentrated level.

Base period: April 30, 2004

Base point: 1000 points

The calculation method of China's annuity index system is weighted.

The annuity fund asset allocation proportion weight categories are fixed income, stock income, and money market.

The composition of the China Annuity Index System is based on the principles of data authority, feasibility, and openness. The sample indexes used are:

The ChinaBond Composite Index (Central Government Bonds Registration and Clearing Co., Ltd.) represents the change in the income of fixed income investment products;

The A-group Shanghai Securities Index (Shanghai Stock Exchange) represents the change in the income of equity investment products;

Group B uses the Shanghai and Shenzhen 300 Index (China Securities Index Co., Ltd.) (2004.04.30-2005.04.07 to adopt the Shanghai Stock Exchange Index and Shenzhen Stock Exchange Index) to represent the changes in the returns on equity equity investment products.

The 7-day repurchase fixed rate on the interbank market (National Interbank Funding Center) represents the change in the income of liquid asset investment products.

The China Annuity Index Expert Committee meets regularly. Study changes in national policies, regulations and markets, and study changes in weight. The fixed income, stock equity, and money market regulations have different boundaries and benefits, which cause the fixed income, stock equity, and current asset annuity fund asset allocation ratios in the annuity index to change. Therefore, the China Annual Conference Index should be based on the recommendations of the Expert Committee , Revise the ratio of the fund's asset allocation at the annual meeting. The expert committee should elaborate and report on amendments to compliance and investment strategies.

The Secretariat of the China Annuity Index Expert Committee accepts well-known experts and scholars from China and abroad, financial institution managers, social security workers, corporate finance human resources workers, investment managers, lawyers, accountants, auditors, experts from government management departments, etc. Recommendations for China's annuity index and applications to participate in expert committees or meetings.

China Annuity Index established the China Annuity Index Expert Committee. The expert committee is composed of nine units including the Institute of Social Security of the Renmin University of China, the China Actuarial Research Institute of the Central University of Finance and Economics, and well-known experts and scholars at home and abroad. It will be based on market development every quarter. Do research to consider whether weight adjustments are needed.

Invited consultants: Cheng Siwei, Liu Hongru, Wang Jianlun, Hu Xiaoyi

Gu Q: Shi Mingcai, Sun Jianyong, Li Fuan, Li Zhengqiang, Yao Hongjie, Zhou Daoxu

Invited Chairman: Chen Liang, Wang Wenling, Tang Maosong, Li Lianzhong, Bai Jinfu

Chairman : He Ping, Li Shaoguang, Wang Zhongming

Vice- Chairs: Stuart H. Leckie, Chris Daykin, Schuber

Expert consultants: Ba Shusong, Zheng Gongcheng, Deng Dasong, Zheng Bingwen, Yang Yansui, Yuan Zhigang, Lin Yi, Li Chaoying, Li Zongjian, Yan Bo, Zhang Hao, Gao Liangyu, Cheng Yuehui, Tao Jun, Zhang Liejun, Zhu Xianzhong, Zhang Houqi

Experts : Li Xiaolin, Wang Xian, Yang Jian, Guo Jianhua, Kong Fanxin, Cui Shaomin, Yu Xiaodong, Hu Jinsong, Liu Zhong, Zhan Long, Wei Ganing, Zhang Jianhua, Wang Zhigang

Financial institutions: Gao Songfan, Yang Fan, Chen Yuxiang, Zhao Weixing, Zhao Yue, Xiao Wei, Li Haihong, Ma Yun, Liu Yi, Geng Hong, Yang Xuelian, Lu Lingfei, Zhang Xuesong, Gao Jing, Liu Yongjun, Zhao Xuejun, Xia Ping, Meng Hu, Du Shuming, Kang Yan, Yan Jianhong, Chen Si, Han Peng, Jin Dan, Huang Juntao, Cheng Bin, Liu Ruixia

Intermediary agencies: Sun Fan, Wang Jingwen, Lin Yixiang, Wang Li, Mao Xiaoxun, Zeng Lingqiu, Mo Tianan An Bin, Li Shigang, Qian Weiqing

Secretary : Su Zhigang