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在养老基金投资监管中,存在两类具有代表性的监管模式,它们是:“数量限制”规则模式和“谨慎人”规则模式。由于“数量限制”规则存在诸多缺陷,该规则的实施明显不利于养老基金资产有效配置,并影响养老基金的投资收益水平,因此,从长期看,随着养老金市场和资本市场发展,我国养老金投资监管应该逐渐由“数量限制”规则向“谨慎人”规则过渡。
There are two kinds of representative regulatory models in the regulation of pension fund investment: “quantitative restrictions” and “cautious” rules. Due to the flaws in “quantity limit ” rule, the implementation of this rule is obviously not conducive to the effective allocation of pension fund assets and the level of return on investment of pension funds. Therefore, in the long run, with the development of pension and capital markets, The regulation of pension investment in our country should be gradually shifted from the rule of “quantity restriction” to the regulation of “cautious person”.