保本基金的投资组合保险策略运用与建议 源海摘要：保本基金的运作核心是投资组合保险策略，我国保本基金均采纳简单参数的组合保险策略
在国零息债券缺乏、股市波动大的情况下，如何设定最低保险额度、合理的风险放大倍数以与动态调整风险资产比例成为保本基金运作的难题
本文首先简要介绍了投资组合保险策略原理，在此基础上分析了国保本基金的组合保险策略，然后结合运作原理提出改进建议
关键词：保本基金；投资组合；保险策略作者简介：源海，同济大学经济与管理学院博士生
中图分类号：F830
9 文献标识码：AAbstract: Investment Portfolio Insurance Strategy is the core of the operation of Principal Guaranteed Fund
At home, all of 5 Principal Guaranteed Funds adopt the Parameter-based Portfolio Insurance Strategy
It is the dilemma for Principal Guaranteed Fund to establish the Floor, Multiplier, and dynamicallyadjust the proportion of risky asset under the circumstance of the lack of zero-bond and the fluctuation of stock market
This paper first briefly introduces the principle of Investment Portfolio Insurance Strategy, and then analyzes the operation
