The Portfolio Management of Pension Funds faced with the Crisis' Challenges*

摘要

Even though it doesn't bring any remarkable news regarding the portfolio management of the pension funds, the crisis compels the administrators of these funds to reconsider the optimization instruments of the risk-benefits ratio. In the present study there are analyzed both the portfolio's diversification tendency based on the investments in the listed private equity and the security increase which can be reached by using the pension reserve and guarantee funds. On the background of a boosting liquidity preference, there are also examined other effects of the modifications registered in the monetary politics.