中文摘要：

我国资本市场尚不完善，与世界成熟的养老基金运营相比，在投资品种和投资收益上存在较大的距离。本文通过对美国401K基金、韩国NPS基金以及中国香港强积金的管理投资运营进行比较，并结合我国资本市场的实际情况，对我国养老金入市的投资管理提出合理的政策建议。

英文摘要：

China's capital market has not been perfect compared with the international pension fund operators. China has a long way to go for perfecting investment products and increasing investment income. By comparing the investment management modes of the 401k fund (U. S. ) , the NPs fund (South Korea) and the MPF ( Hong Kong) and analyzing the situation of china's capital market, the title of thesis puts forward some reasonable policy recommendations for china's investment manage-ment of listing pension.