How Does Enterprise Annuity Choose the Mutual Fund Company as Its Investment Manager
基于随机占优和VaR原则，结合风险、绩效和员工年龄结构，提出选择共同基金公司管理企业年金的新方法，发现合格公司整体优于不合格者，且行业特征影响选择。
Mutual fund company is the majority of the institute qualified for managing enterprise annuity.How to choose the appropriate mutual fund company as the manager is of importance for the enterprise annuity.We initiate novel idea and method to select mutual fund company based on the principles of stochastic dominance and VaR,incorporating the risk,performance,and staff age structure of annuity enterprise.We find that most mutual fund companies qualified for managing enterprise annuity,with few exceptions,dominate the ones not qualified from the views of enterprise annuity.Furthermore,we analyze the industry of electricity,and thermal power. The pension payment and scenario setting have great effect on the selection of fund company for annuity in this industry.This provides reference for the selection of mutual fund company by enterprise annuity,and the management of qualification of mutual fund company.