Pension Fund Investment Operation Research Of China

With the sustainable development of social economy and human life prolonged, global inevitable appeared the trend of population aging, the rising China’s aging population has become one of the most serious challenges facing our society. As the aging population rising, the pension fund has a close connection with people’s livelihood, especially old people vital interest "Survival Money", gradually exposed its sustainable development in revenues, and the dynamic balance of spending of internal contradictions. With the gradually payment crisis in the pension fund, recessive debt gap widening, the ease of pension fund balance of payments imbalance and other methods, is becoming more and more meaningful.This article from the perspective of investment operations to alleviate the inherent contradictions of pension fund, and fund investment income as the entry point, contrast analysis in the use of different investment vehicles under the condition of the portfolio, the possibilities of pension fund investment operating income and risk of loss, and finally gives specific suggestions on pension fund investment operation. The article adopts the method of combining qualitative analysis with quantitative analysis, mainly on quantitative analysis. In qualitative analysis, firstly this article introduces the definition of pension fund, the characteristics of pension fund in China, and the two theories of investment operations. Second, through to our country pension fund investment, the investment structure and investment returns, now reveals the present situation of our country pension fund investment operation tools too little variety, investment profit is low, the problem such as slow development of individual deposit pension fund. In the view of these problems, this article has carried on the sample and model selection, the comparison of risk and return of investment tools and its combination on the basis of using the capital asset pricing model to our country pension fund investment operation for empirical research, to get an effective investment operating equation and provide a reference basis for pension fund investment operations.In the process of the feasibility of operation yields increase investment, the article also introduced the United States, Canada, Chile and Singapore and other countries in the aspect of pension fund investment operation experience and brought us the enlightenment, and ultimately trying to find suitable investment strategy and operations for China and give some specific investment advices. First of all, broaden the investment channels, in the field of financial investment outside consider introducing industrial investment, especially the construction of infrastructure investment and investment channels, scattered in the field of financial investment risk; Reference to QFII funds overseas fund investment of capital market in China, such as experience, moderate investment in overseas markets, distracting domestic capital market risk; Secondly, varieties rich investment tools, with good liquidity, security, money market funds instead of part of the high bank deposits; Introduction of fixed-income products, insist on earnings tools, such as stock, equity open-end fund investment, reduce portfolio correlation; Third, reform the existing investment management mode, the quantitative restrictions rules investment management mode gradually to the prudent man rule management mode change; At last but not least, strengthen the supervision of fund investment, ensure the safety of the funds to various, reduce the risk of fund investment losses, improve the operating efficiency of investment.