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论文编号：	13281
作者编号：	2320190528
上传时间：	2022/6/9 22:02:27
中文题目：	X职业年金投资组合管理问题及优化研究
英文题目：	Research on Portfolio Management and Optimization of Occupational Pension X
指导老师：	王永进教授
中文关键字：	职业年金；投资组合管理；投资风险管理
英文关键字：	Occupational annuity; Portfolio management; Investment risk management
中文摘要：	职业年金基金，主要指政府和机关事业单位的职工，应当在就职单位已缴纳职工基本养老保险的基础上，建立的补充型养老保险机制。职业年金基金与其他形式养老金相比，既存在有专家投资管理的优势、又能够保持良好的风险收益能力以及较低的交易成本。同时，作为当前我国社会养老第二大支柱的重要构成部分，短短几年时间职业年金从某种程度上缓解了目前社会老龄化的巨大压力，也逐渐成为我国资本市场的重要资金来源。 职业年金基金投资组合管理的目的是通过其长期稳健的保值增值为机关事业单位职工提供有效的养老保障。职业年金计划的运营包含代理人、受托人、托管人、投资管理人等机构。受托人作为年金计划运营的核心机构，在其发起与运作生涯中起着至关重要的作用。同时，多方服务机构的合作又使职业年金产生了多重的委托代理关系，这大大增加了职业年金在运作过程中的管理难度。为科学合理地进行年金资金分配，防范和化解管理风险，加强对投资管理人的监督管理、督促其提升职业年金基金的运作规范性和保值增值的能力，根据《职业年金基金管理办法》(试行)、《职业年金基金投资管理合同及运营流程规范》等相关法规，由受托机构负责对计划下投资管理人的日常监管工作，并制定相关投资组合管理办法。 本文主要针对X职业年金基金受托人对投资组合的管理评价体系，包括投资组合管理、投资风险管理、投资服务管理、投资收益管理等进行一系列研究分析；针对目前X职业年金基金在运营过程中常见的考核指标，如收益率、夏普比率、索提诺比率、波动率、最大回撤等指标进行相应阐释；以及对目前管理办法的相关问题进行列示与分析；针对问题结合理论与实际总结经验并提出相关整改建议。
英文摘要：	Occupational pension fund mainly refers to the supplementary pension insurance mechanism established by the employees of government and social institutions and institutions on the basis that the employees of the working unit have paid the basic pension insurance. Compared with other forms of pension funds, occupational pension funds not only have the advantages of expert investment management, but also can maintain good risk return ability and low transaction cost. At the same time, as an important part of the second pillar of social pension in China, occupational pension alleviates the great pressure of social aging to some extent. The purpose of occupational pension fund investment management is to provide effective old-age security for employees of organs and institutions through its long-term stable value preservation and appreciation. The operation of occupational pension plan includes agents, trustees, custodians, investment managers and other institutions. As the core organization of occupational pension plan operation, trustees play a vital role in its initiation and operation career. At the same time, the cooperation of multi-party service organizations has created multiple principal-agent relationships for occupational pension, which greatly increases the difficulty of supervision in the operation of occupational pension. In order to strengthen the supervision and management of investment managers, scientifically and reasonably allocate annuity funds, prevent and resolve the management risks of occupational annuity funds, and urge investment managers to improve the operation standardization and the ability to maintain and increase the value of occupational annuity funds, according to the measures for the administration of occupational annuity funds (for Trial Implementation), the specifications for investment management contracts and operation processes of occupational annuity funds and other relevant laws and regulations, The trustee institution is responsible for formulating the investment management evaluation scheme and scoring rules. This paper mainly studies and analyzes the management and evaluation system of the trustee of X occupational pension fund on the investment portfolio, including investment portfolio management, investment risk management, investment service management, investment income management and so on; This paper explains the common assessment indicators in the operation of X occupational pension fund, such as yield, sharp ratio, sotino ratio, volatility, maximum pullback and so on; And list and analyze the relevant problems of the current management methods; In view of the problems, combined with theory and practice, summarize the experience and put forward relevant rectification suggestions.
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