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养老基金积累了庞大的资金规模,大量的养老基金进入金融市场进行投资管理,实现养老基金的保值增值。养老基金投资收益绩效评价,是客观科学评价养老基金政策效率、投资运营、委托人权益保护、社会监督效果的前提。根据养老基金投资的风险收益特征,在构建养老基金投资组合选择理论模型及其资产定价理论模型基础上,可以系统构建养老基金投资绩效评价有关的基金分类方法和标准、业绩基准、风险调整收益分析模型、归因分析模型,形成相对完整的养老基金投资绩效评价体系。
Pension funds have accumulated a huge amount of funds, a large number of pension funds into the financial markets for investment management, pension funds to achieve the preservation and added value. The performance evaluation of pension fund investment income is an objective and scientific prerequisite for evaluating the efficiency of pension fund policy, investment operation, protection of client’s rights and interests, and social supervision. According to the characteristics of risk and return of pension fund investment, we can establish the fund classification method and standard, performance benchmark and risk adjustment benefit analysis of pension fund investment performance evaluation systematically on the basis of constructing theoretical model of pension fund portfolio selection and its asset pricing theory model Model, attribution analysis model to form a relatively complete pension fund investment performance evaluation system.