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传统上,养老基金投资的大类资产是股票、债券和现金资产,典型的养老基金投资组合是60%的股票,40%的债券和现金资产。20世纪80年代以后,随着金融市场的发展和政府对养老基金投资约束的放松,养老基金的投资渠道逐步拓宽,股权投资基金成为养老基金投资的重要工具,为养老基金稳定收益分散风险发挥了积极作用。
Traditionally, the broad categories of assets that pension funds invest in are stocks, bonds and cash assets. The typical pension fund portfolio is 60% of stock, 40% of bonds and cash assets. Since the 1980s, with the development of financial markets and government relaxation of investment restrictions on pension funds, investment channels for pension funds have been gradually broadened. Equity investment funds have become an important tool for the investment of pension funds and have played a role in the diversification of pension funds’ steady returns. positive effects.