社保基金股票投资组合的行业偏好初探

全国社会保障基金是价值型投资者，行业配置对其具有重要意义。通过考察2008年末全国社会保障基金的股票委托投资组合在行业配置上总体的分布情况，分析出该基金的受托人在股票市场处于周期性底部区域时偏好投资于周期型行业，尤其是传播与文化产业，交通运输与仓储业，电力、煤气及水的生产和供应业，以及房地产业，并得出了在这一时段受托人的行业配置风格与该基金的投资原则和该基金作为价值型机构投资者的定位相符的结论。

Research on the industrial preference of the social security fund stock investment portfolio

The national society guarantee fund is worth an investor, the profession install as to it＇s have the important meaning.Pass to investigate 2008 national society of year-endses to guarantee the fund of stock entrust the experienced industry of portfolio to install up distribute the circumstance totally, analyze a trustee of that fund at the stock market be placed in the periodic bottom district be partial to the sound investment in a profession of period, particularly dissemination and the euhural industry, transportation and the warehouse industry, electric power, coal gas and the production of the water and the supply industry, and the real estate industry, and get here at that time the profession of a trustee install the style with the investment principle of that fund and the conclusion that the fixed position of an organization of that fund conduct and actions value investor agree with.