The Research Of Investment Combination On Pension Fund Of China

The pension fund is a special social security fund. Its form has something with a country's endowment insurance system. The pension fund is the hard-core of the endowment insurance system, and it is the important support of the endowment insurance's standing development. Internationally, agedness salvation existed as an ethic concept and a practical activity early five hundred BC. In China, the endowment insurance system also comes through the evolvement process becoming mature. In the background of the aged trend, the pay-as-you-go system doesn't apply in our country's concrete fact any more. So how to reform the endowment insurance system, which is becoming the important conditions whether the pension fund is in the working order or not.In views of the present movement of pension fund, it merely invests in the public debt and banking house. Although it can ensure the security of fund in a certain extent in the short term, the change of interest rate will be not maintain in a certain lesser range in the long term with the increasingly consummation and maturation and the gradually open of the money market, and then it will lose the stable state which possesses at one time. Because of the threaten of pension fund's value and increment which causes by the exist and more widen of interest rate change risk, it is provided with most significant practical meaning to how to achieve the value and increment of pension fund which scales is increasingly increscent in the development of dynamic economic through managing it.This paper constructs the choosing model on the practical yield of pension fund investment combination firstly, and makes positive research on this model applying the statistic software SPSS12.0. It makes a conclusion that the actual pension fund investment combination cannot achieve its value and increment through deep analysis, which educes the following research of pension fund entering the capital market. In the next place, this paper concentrates on the foundation of the investment combination on pension fund entering the capital market started with the endowment insurance system. In the end, basing on the basic principle and rule of pension fund investment, this paper makes a theoretical analysis on the investment combination of pension fund entering the capital market through the construction of pension fund's investment risk-yield mode.The detailed structure of this paper is as follows: the first part is used to identify...