Research On Investment Management Of Chinese Enterprise Annuity

In recent years,China has gradually entered an aging society,resulting in an increasing social pension burden.There is a huge payment gap for basic old-age care in the future.As an important supplement to social pension,enterprise pension is an objective need to adapt to the changes of social population structure and promote fair distribution.In addition to the function of saving,the enterprise annuity can generate considerable investment income,which will increase the enthusiasm of the enterprise and employees to participate,increase the investment scale of the enterprise annuity,and gain scale effect.At the same time,higher investment income can not only improve the living standard of retired employees,but also enhance young employees' awareness of the enterprise and enhance the competitiveness of the enterprise.Therefore,it is of great practical significance to study the investment management of enterprise annuity in China.Based on the classic investment theory,this paper adopts the combination of qualitative analysis and quantitative analysis.Firstly,it compares and analyzes the differences in the management of enterprise annuity portfolios at home and abroad,and puts forward the problems existing in the process of portfolio management of Chinese enterprise annuities;Case study of China Aviation Group's annuity portfolio management,demonstrating the generality of China's enterprise annuity problem;learning from foreign advanced investment management experience and using the mean-variance model empirical analysis to sort out the reasons behind the problem;finally explore the optimizing enterprise annuity portfolio management.Through the research,this paper finds that the reasons for the problems of China's enterprise annuity investment management mainly include: immature asset allocation strategy,single portfolio return risk type,overly strict regulation on investment scope and proportion,uneven performance of investment managers.In the current state of our country,we can improve our portfolio management by optimizing asset allocation strategies,adding portfolio options,improving reviews and asset allocation mechanisms and loosing regulation to improve our enterprise annuity investment management.