Since the start of this year, insurance funds have intensified their investments in alternative assets, particularly commercial real estate and infrastructure. New China Life Insurance's funds have notably acquired Wanda Plazas, while numerous other insurance companies have also bolstered their real estate portfolios. Concurrently, the allocation to insurance fund REITs has surged significantly. These companies are directly investing in shopping centers via funds and diversifying their real estate holdings through various channels, including REITs and debt plans. Industry experts contend that, amid an "asset scarcity" environment, insurance firms are aiming to secure long-term, stable returns. Nevertheless, the risks associated with liquidity, valuation, and asset-liability matching cannot be overlooked.
