职业年金投资策略与借鉴：基于养老保障类基金角度

Occupational Pension Investment Strategy and Reference:Based on the Perspective of Pension Funds

2016年9月发布的《职业年金基金管理暂行办法》意味着职业年金的投资运营之路正式开始。职业年金作为社会养老保障队伍的新成员,在投资运营方面可以借鉴社保基金、企业年金的投资经验。本文从量和质两方面分析了社保基金和企业年金的投资规模发展状况,介绍和区分二者在信托项目、实业投资项目、股票投资项目上的收益差异,总结了年金投资战略资产配置的经验,并结合职业年金强制性特点,提出了扩大基金投资范围、优化战略资产配置、提升机构专业素养及鼓励个人投资等职业年金的投资策略。

The ＂ interim measures for the management of occupational pension fund＂ issued in September 2016 meant the investment and operation of occupational pension funds had officially started. Occupational annuity can learn the investment experience from social security funds and enterprise annuity in investment operation as a new member of the social pension security team. This paper analyzed the development of investment scale of social security funds and enterprise annuity from quantitative and qualitative perspectives. This paper introduced and distinguished the difference in investment return among the trust project,industrial investment and stock investment and it summarized the experience of strategic assets allocation for annuity investment. By combining the compulsory characteristics of occupational annuity,it proposed investment strategies by expanding the scope of investment of the fund,optimizing the allocation of strategic assets,upgrading professional qualities of institutions,and encouraging personal investment and other occupational annuity.