投连险基金选择技术研究

A study on the fund selection techniques of variable fife insurance providers

2007年以来投连险迅速成为保险业特别是银行保险渠道重要的产品类型,这类产品在投资账户运作的过程中主要基于基金选择技术,与资本市场具有高关联性。随着投连险的热销和股市自2008年初开始的长期震荡调整,关于投连险净值表现的评论和质疑也陆续出现。本文论述了投连险所依赖的基金选择技术的发展概况、评价体系和技术指标,探讨了投连险发展中所需要的市场环境和技术支持,进而从行为金融学的角度对投连险的合理性做出了评价。

Variable life insurance grew rapidly into one of the most important life insurance lines in 2007 in China. A key factor for success of variable life insurance is the fitness of fund selection techniques, since the performance of this kind of insurance products is highly related to the capital market. The boom of variable life insurance and the turbulence in China＇s stock market started at the beginning of 2008 brings critiques and questions to the net value of variable life insurance products. This article examines the available fund selection techniques and indicator systems and discusses the desirable market environment and technical support system for healthy development of variable life insurance. An assessment on the appropriateness of variable life insurance from the perspective of behavior finance follows.