Ping An to add managers, boost foreign, property assets

China’s Ping An Insurance plans to add external managers for equity and bond investments and boost its allocation to asset classes such as overseas allocation, preferred shares and warehouse property this year. Chief investment officer Timothy Chan expects to have an additional Rmb250 billion ($38.3 billion) to invest this year. Meanwhile, the second biggest mainland insurer is taking a cautious view in light of the economic downturn and asset quality deterioration in China, so ha…