Taiping Pension observes that the of ¡°value the act of investment, diversify risks and operate prudently at a steady pace¡±, places emphasis on commanding the trend of investment objects, pays attention to assets portfolio management and tactical allocation, seeks for a long- and medium-term return in excess of the performance comparison benchmark. On the premise of strict risk control, we provide first-class investment management services for occupational annuity customers. The investment management of occupational annuity funds is characterized by their long operating periods, high risk management and investment return requirements. Therefore there are very high professional demands for product design, management operation and risk control. According to the limitations stated in the Trial Measures for Occupational Annuity Fund Management in the context of investment of annuity funds, priority is given to fixed-income products, especially bond investments, while with its solid investment operation capabilities adopted from its parent company, especially its solid investment strength in bonds, Taiping Pension has an great advantage over other competitors.

• Stock Investment Philosophy

Our stock investment bases itself on research, persists in research-guided investment, and follows the of ¡°value the act of investment, diversify risks and operate prudently at a steady pace¡±. This investment philosophy is mainly shown as follows in terms of stock investment:

1. Seeking fundamental-based investing and making value judgments on the basis of corporate fundamentals.

2. Focusing on the profit growth of enterprises, and dynamically adjusting value expectations.

3. Paying attention to liquidity of assets income.

• Bond Investment Philosophy

Our bond investment philosophy is based on research, persists in research-guided investment, and follows the investment philosophy of ¡°value the act of investment, diversify risks and operate prudently at a steady pace¡±. This investment philosophy is mainly shown as follows in terms of bond investment:

1. Seeking fundamental-based value investing, and making value judgments on the basis of changes in the macroeconomic cycle.

2. Focusing on cycle changes and policy changes, and dynamically adjusting value expectations.

3. Paying attention to liquidity of assets income.