In 2016, following the publication of the Interim Measures for Management of Occupational Annuity Funds by the Ministry of Human Resources and Social Security, Southern Asset Management had the qualifications to manage enterprise annuity funds and was, thus, able to develop its occupational annuity fund management business. In 2018, in the tender for investment manager of the Xinjiang occupational annuity, for the first time in the market eight trustees made a comprehensive scoring of investment management firms, Southern Asset Management was ranked second in the comprehensive scoring, which ranked the first of the fund management firms. This result is ample recognition of Southern Asset Management’s comprehensive strength and investment management level by the trustees.
In the same year, following the publication of the Interim Measures for Management of Occupational Annuity Funds by the Ministry of Human Resources and Social Security, Southern Asset Management has had the qualifications to manage enterprise annuity and has been thus able to develop its occupational annuity management business.
On August 23, 2015, the State Council issued the Measures for the Administration of Investment in Basic Old-age Insurance Fund Insurance Funds, marking the official start of the marketization of investment operations for Basic Old-age Insurance Fund insurance funds. On December 6, 2016, Southern Asset Management was among the first selected securities investment companies for the Basic Old-age Insurance Fund. In 2017, Southern Asset Management's first Basic Old-age Insurance Fund investment portfolio officially embarked operation.
Southern Asset Management will continue to invest more in talent reserve, investment and research construction and service support to continuously improve the investment management capacity of pension assets, promote the healthy development of China's Basic Old-age Insurance Fund market and contribute to the cause of pension in China.
In August 2005, Southern Asset Management became one of the first investment managers of national enterprise annuity fund investment. In April 2006, Southern Asset Management signed the first contract of single-plan enterprise annuity investment management and in July 2006, the first investment portfolio was put into operation.
In December 2004, Southern Asset Management became one of the first batch of investment managers to set up the business unit dedicated to pensions, mainly responsible for the annuity business marketing, daily servicing and general management. In the area of annuity investment management, during the early start of annuity business, Southern Asset Management established an investment decision-making framework that separates public and private placement. In May 2017, Southern Asset Management became one of the first batch of investment managers to establish a specialized annuity investment management department. The equity investment account department and fixed income investment account department are charged with managing investment of annuity equity and fixed income assets respectively. Southern Asset Management also established a special annuity and separate account investment decision-making committee, charged with formulating a unified large-asset allocation strategy and risk budgeting targets for annuity investments.
In July 2020, Southern Asset Management adjusted its organizational structure. To better integrate company resources and to make the synergy effects in asset allocation, Southern Asset Management newly established a mixed asset investment department for annuity asset investment.
In 2016, according to the Interim Measures for the Management of Occupational Annuity Funds issued by the Ministry of Human Resources and Social Security, Southern Asset Management was able to carry out the investment management business of occupational annuity fund because it has the qualification of managing enterprise pension fund.
Southern Asset Management has always regarded occupational annuity as one of its most important strategic businesses. Up to now, the company has been qualified as an investment manager in all 33 regions nationwide where occupational annuity funds have been established.
Looking ahead, Southern Asset Management will continue to create value for every employee participating in the occupational annuity plan with its professional asset management capabilities and design customized investment and service solutions.