三個皮匠報告
政策庫
new
付費
搜索

2006年以來GPIF投資收益與超額-行業數據

2006年以來GPIF投資收益與超額
2006年以來GPIF投資收益與超額
資風格相一致?；邶嫶蟮馁Y產管理規模，GPIF認為在保持風險不變的情況下，獲取超1%的超額收益非常困難，僅0.1%的超額也將帶來約2000億日元的可觀收益。
行業數據 下載Excel 下載圖片 原圖定位
圖片屬性
圖片格式：PNG 圖片大?。?54KB 圖片尺寸：1863*1140
同報告圖片
 / 65
2006年以來GPIF投資收益與超額_第1頁
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
2006年以來GPIF投資收益與超額_第2頁
2006年以來GPIF投資收益與超額_第3頁
2006年以來GPIF投資收益與超額_第4頁
fCDlubTku70gfCBpRGVjb+WPguS4juS6uuaVsO+8iOS4h+S6uu+8iSB8IGlEZWNv6LWE5Lqn566h55CG6KeE5qih77yI5LiH5Lq/5pel5YWD77yM5Y+z6L2077yJIHwKfCAtLS0gfCAtLS0gfCAtLS0gfAp8IDIwMTjlubQgfCAxMzAuMCB8IC0gfAp8IDIwMTnlubQgfCAxNTAuMCB8IC0gfAp8IDIwMjDlubQgfCAxODAuMCB8IC0gfAp8IDIwMjHlubQgfCAyMjAuMCB8IC0gfAp8IDIwMjLlubQgfCAzMDAuMCB8IC0gfAoK6LWE5paZ5p2l5rqQ77ya5Y6a55Sf5Yqz5Yqo55yB77yM5Zu95YWD6K+B5Yi456CU56m25omA
2006年以來GPIF投資收益與超額_第5頁
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
2006年以來GPIF投資收益與超額_第6頁
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
2006年以來GPIF投資收益與超額_第7頁
2006年以來GPIF投資收益與超額_第8頁
2006年以來GPIF投資收益與超額_第9頁
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
2006年以來GPIF投資收益與超額_第10頁
2006年以來GPIF投資收益與超額_第11頁
2006年以來GPIF投資收益與超額_第12頁
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
2006年以來GPIF投資收益與超額_第13頁
2006年以來GPIF投資收益與超額_第14頁
2006年以來GPIF投資收益與超額_第15頁
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
2006年以來GPIF投資收益與超額_第16頁
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
2006年以來GPIF投資收益與超額_第17頁
2006年以來GPIF投資收益與超額_第18頁
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
2006年以來GPIF投資收益與超額_第19頁
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
2006年以來GPIF投資收益與超額_第20頁
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
2006年以來GPIF投資收益與超額_第21頁
2006年以來GPIF投資收益與超額_第22頁
2006年以來GPIF投資收益與超額_第23頁
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
2006年以來GPIF投資收益與超額_第24頁
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
2006年以來GPIF投資收益與超額_第25頁
2006年以來GPIF投資收益與超額_第26頁
2006年以來GPIF投資收益與超額_第27頁
2006年以來GPIF投資收益與超額_第28頁
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
2006年以來GPIF投資收益與超額_第29頁
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
2006年以來GPIF投資收益與超額_第30頁
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
2006年以來GPIF投資收益與超額_第31頁
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
2006年以來GPIF投資收益與超額_第32頁
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
2006年以來GPIF投資收益與超額_第33頁
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
2006年以來GPIF投資收益與超額_第34頁
2006年以來GPIF投資收益與超額_第35頁
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
2006年以來GPIF投資收益與超額_第36頁
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
2006年以來GPIF投資收益與超額_第37頁
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
2006年以來GPIF投資收益與超額_第38頁
fCAgICAgIHwg5pS255uK5beu77yI5Y+z6L2077yJIHwgTm9tdXJhLUJQSSBFVEYgfCBHUElGLeWbveWGheWAuuWIuCB8CnwtLS0tLS18LS0tLS0tLS0tLS0tLS0tLS0tfC0tLS0tLS0tLS0tLS0tLS0tLS18LS0tLS0tLS0tLS0tLS0tfAp8IDIwMTdRMyB8IC0wLjAxICAgICAgICAgICAgfCAxLjAzICAgICAgICAgICAgICB8IDAuMzIgICAgICAgICAgfAp8IDIwMTdRNCB8IC0wLjAyICAgICAgICAgICAgfCAxLjA0ICAgICAgICAgICAgICB8IDAuMzMgICAgICAgICAgfAp8IDIwMThRMSB8IC0wLjA1ICAgICAgICAgICAgfCAxLjA2ICAgICAgICAgICAgICB8IDAuMzQgICAgICAgICAgfAp8IDIwMThRMiB8IDAuMDAgICAgICAgICAgICAgfCAxLjA3ICAgICAgICAgICAgICB8IDAuMzUgICAgICAgICAgfAp8IDIwMThRMyB8IDAuMDkgICAgICAgICAgICAgfCAxLjA4ICAgICAgICAgICAgICB8IDAuMzYgICAgICAgICAgfAp8IDIwMThRNCB8IDAuMTEgICAgICAgICAgICAgfCAxLjEwICAgICAgICAgICAgICB8IDAuMzcgICAgICAgICAgfAp8IDIwMTlRMSB8IDAuMTIgICAgICAgICAgICAgfCAxLjEzICAgICAgICAgICAgICB8IDAuMzggICAgICAgICAgfAp8IDIwMTlRMiB8IDAuMTQgICAgICAgICAgICAgfCAxLjE1ICAgICAgICAgICAgICB8IDAuMzkgICAgICAgICAgfAp8IDIwMTlRMyB8IDAuMTYgICAgICAgICAgICAgfCAxLjE3ICAgICAgICAgICAgICB8IDAuNDAgICAgICAgICAgfAp8IDIwMTlRNCB8IDAuMTggICAgICAgICAgICAgfCAxLjE5ICAgICAgICAgICAgICB8IDAuNDEgICAgICAgICAgfAp8IDIwMjBRMSB8IDAuMjAgICAgICAgICAgICAgfCAxLjIxICAgICAgICAgICAgICB8IDAuNDIgICAgICAgICAgfAp8IDIwMjBRMiB8IDAuMjIgICAgICAgICAgICAgfCAxLjIzICAgICAgICAgICAgICB8IDAuNDMgICAgICAgICAgfAp8IDIwMjBRMyB8IDAuMjQgICAgICAgICAgICAgfCAxLjI1ICAgICAgICAgICAgICB8IDAuNDQgICAgICAgICAgfAp8IDIwMjBRNCB8IDAuMjYgICAgICAgICAgICAgfCAxLjI3ICAgICAgICAgICAgICB8IDAuNDUgICAgICAgICAgfAp8IDIwMjFRMSB8IDAuMjggICAgICAgICAgICAgfCAxLjI5ICAgICAgICAgICAgICB8IDAuNDYgICAgICAgICAgfAp8IDIwMjFRMiB8IDAuMzAgICAgICAgICAgICAgfCAxLjMxICAgICAgICAgICAgICB8IDAuNDcgICAgICAgICAgfAp8IDIwMjFRMyB8IDAuMzIgICAgICAgICAgICAgfCAxLjMzICAgICAgICAgICAgICB8IDAuNDggICAgICAgICAgfAp8IDIwMjFRNCB8IDAuMzQgICAgICAgICAgICAgfCAxLjM1ICAgICAgICAgICAgICB8IDAuNDkgICAgICAgICAgfAp8IDIwMjJRMSB8IDAuMzYgICAgICAgICAgICAgfCAxLjM3ICAgICAgICAgICAgICB8IDAuNTAgICAgICAgICAgfAp8IDIwMjJRMiB8IDAuMzggICAgICAgICAgICAgfCAxLjM5ICAgICAgICAgICAgICB8IDAuNTEgICAgICAgICAgfAp8IDIwMjJRMyB8IDAuNDAgICAgICAgICAgICAgfCAxLjQxICAgICAgICAgICAgICB8IDAuNTIgICAgICAgICAgfAp8IDIwMjJRNCB8IDAuNDIgICAgICAgICAgICAgfCAxLjQzICAgICAgICAgICAgICB8IDAuNTMgICAgICAgICAgfAp8IDIwMjNRMSB8IDAuNDQgICAgICAgICAgICAgfCAxLjQ1ICAgICAgICAgICAgICB8IDAuNTQgICAgICAgICAgfAp8IDIwMjNRMiB8IDAuNDYgICAgICAgICAgICAgfCAxLjQ3ICAgICAgICAgICAgICB8IDAuNTUgICAgICAgICAgfAp8IDIwMjNRMyB8IDAuNDggICAgICAgICAgICAgfCAxLjQ5ICAgICAgICAgICAgICB8IDAuNTYgICAgICAgICAgfAp8IDIwMjNRNCB8IDAuNTAgICAgICAgICAgICAgfCAxLjUxICAgICAgICAgICAgICB8IDAuNTcgICAgICAgICAgfAp8IDIwMjRRMSB8IDAuNTIgICAgICAgICAgICAgfCAxLjUzICAgICAgICAgICAgICB8IDAuNTggICAgICAgICAgfAoK6LWE5paZ5p2l5rqQ77yaR1BJRiwgTkVYVCBGVU5EUywg5Zu95YWD6K+B5Yi456CU56m25omA
2006年以來GPIF投資收益與超額_第39頁
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
2006年以來GPIF投資收益與超額_第40頁
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
2006年以來GPIF投資收益與超額_第41頁
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
2006年以來GPIF投資收益與超額_第42頁
2006年以來GPIF投資收益與超額_第43頁
2006年以來GPIF投資收益與超額_第44頁
2006年以來GPIF投資收益與超額_第45頁
2006年以來GPIF投資收益與超額_第46頁
2006年以來GPIF投資收益與超額_第47頁
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
2006年以來GPIF投資收益與超額_第48頁
2006年以來GPIF投資收益與超額_第49頁
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
2006年以來GPIF投資收益與超額_第50頁
fCDmlK/mn7HojIPlm7QgfCDpobnnm67nsbvlnosgfCDotYTkuqfop4TmqKHvvIjkuIfkur/ml6XlhYPvvIkgfCDljaBHRFDmr5TkvosgfCDlj4LkuI7kurrmlbDvvIjkuIfkurrvvIkgfCDljaDlhajlm73lirPliqjkurrlj6Pmr5TkvosgfAp8IC0tLSB8IC0tLSB8IC0tLSB8IC0tLSB8IC0tLSB8IC0tLSB8Cnwg56ys5LiA5pSv5p+xIHwg5Zu95rCR5bm06YeRK+WOmueUn+W5tOmHkSB8IDI1MC41MCB8IDQ0LjIyJSB8IDY3NDQgfCA5Ny44NSUgfAp8IOesrOS6jOaUr+afsSB8IOS8geS4muW+hemBh+ehruWumuWeiyhEQikgfCA2Ni4wMCB8IDExLjY1JSB8IDkxMSB8IDEzLjIyJSB8Cnwg56ys5LqM5pSv5p+xIHwg5LyB5Lia57y06LS556Gu5a6a5Z6LKERDKSB8IDE4LjcwIHwgMy4zMCUgfCA4MDUgfCAxMS42OCUgfAp8IOesrOS6jOaUr+afsSB8IOWOmueUn+W5tOmHkeWfuumHkSjlt7LmmoLlgZwpIHwgMTQuNTAgfCAyLjU2JSB8IDEyIHwgMC4xNyUgfAp8IOesrOS6jOaUr+afsSB8IOS4reWwj+S8geS4mumAgOiBjOWFsea1juW5tOmHkSB8IDUuMzEgfCAwLjk0JSB8IDQ2MSB8IDYuNjklIHwKfCDnrKzkuInmlK/mn7EgfCDlm73msJHlubTph5Hln7rph5EgfCA0LjYwIHwgMC44MSUgfCAzNCB8IDAuNDklIHwKfCDnrKzkuInmlK/mn7EgfCDkuKrkurrnoa7lrprnvLTotLnlnosoaURlQ28pIHwgNC4zOCB8IDAuNzclIHwgMjkwIHwgNC4yMSUgfAoK6LWE5paZ5p2l5rqQ77yaV2luZOOAgeWOmueUn+WKs+WKqOecgeOAgUdQSUbjgIHml6XmnKzlhoXpmIHlupzjgIHkuK3lsI/kvIHkuJrpgIDogYzph5HlhbHmtY7kuovkuJrmnKzpg6jjgIHkvIHkuJrlubTph5Hkv6Hmga8=
2006年以來GPIF投資收益與超額_第51頁
2006年以來GPIF投資收益與超額_第52頁
fCDmjpLlkI0gfCDlm73lpJblgLrliLjotYTkuqcgfCDluILlgLzvvIjml6XlhYPvvIkgfCDljaDor6XnsbvotYTkuqfmr5TkvosgfAp8IC0tLSB8IC0tLSB8IC0tLSB8IC0tLSB8CnwgMSB8IFVTIFRSRUFTVVJZIE4vQiAzLjg3NSUgMDgvMTUvMjAzMyB8IDI4NSw3MzIsMDExLDYyOSB8IDAuNDc2NiUgfAp8IDIgfCBVUyBUUkVBU1VSWSBOL0IgMy4zNzUlIDA1LzE1LzIwMzMgfCAyNjksMjIyLDIzMywwMjMgfCAwLjQ0OTElIHwKfCAzIHwgVVMgVFJFQVNVUlkgTi9CIDAuNjI1JSAwOC8xNS8yMDMwIHwgMjY3LDE2Nyw2MTMsOTA4IHwgMC40NDU2JSB8CnwgNCB8IFVTIFRSRUFTVVJZIE4vQiAzLjUlIDAyLzE1LzIwMzMgfCAyNjQsOTk3LDM0OCwwNTYgfCAwLjQ0MjAlIHwKfCA1IHwgVVMgVFJFQVNVUlkgTi9CIDQuMTI1JSAxMS8xNS8yMDMyIHwgMjU5LDEzOSw5OTEsODU4IHwgMC40MzIyJSB8CnwgNiB8IFVTIFRSRUFTVVJZIE4vQiA0LjUlIDExLzE1LzIwMzMgfCAyNTMsMjg5LDkzNyw1NDggfCAwLjQyMjUlIHwKfCA3IHwgVVMgVFJFQVNVUlkgTi9CIDEuODc1JSAwMi8xNS8yMDMyIHwgMjUxLDAxMSw5OTIsNDMxIHwgMC40MTg3JSB8CnwgOCB8IFVTIFRSRUFTVVJZIE4vQiAyLjg3NSUgMDUvMTUvMjAzMiB8IDI0NiwxOTksNTI5LDk3NiB8IDAuNDEwNyUgfAp8IDkgfCBVUyBUUkVBU1VSWSBOL0IgMS4yNSUgMDgvMTUvMjAzMSB8IDI0NCwzMjQsMjQxLDQ0NyB8IDAuNDA3NSUgfAp8IDEwIHwgVVMgVFJFQVNVUlkgTi9CIDIuODc1JSAwOC8xNS8yMDI4IHwgMjQzLDg0Nyw1MTEsNTY2IHwgMC40MDY3JSB8CnwgMTEgfCBVUyBUUkVBU1VSWSBOL0IgMi44NzUlIDA1LzE1LzIwMjggfCAyNDIsMTY4LDgzMCwxNTYgfCAwLjQwMzklIHwKfCAxMiB8IFVTIFRSRUFTVVJZIE4vQiAxLjM3NSUgMTEvMTUvMjAzMSB8IDI0MSw0MTYsNTQxLDcyMSB8IDAuNDAyNyUgfAp8IDEzIHwgVVMgVFJFQVNVUlkgTi9CIDEuNjI1JSAwNS8xNS8yMDMxIHwgMjMxLDg0MywyNDksOTAzIHwgMC4zODY3JSB8CnwgMTQgfCBVUyBUUkVBU1VSWSBOL0IgMi43NSUgMDgvMTUvMjAzMiB8IDIyMiwxODEsMzQ3LDUzOSB8IDAuMzcwNiUgfAp8IDE1IHwgVVMgVFJFQVNVUlkgTi9CIDEuMjUlIDA1LzMxLzIwMjggfCAyMjEsNjgwLDk1OCwyNDIgfCAwLjM2OTglIHwKfCAxNiB8IFVTIFRSRUFTVVJZIE4vQiAxLjI1JSAwNi8zMC8yMDI4IHwgMjEwLDExMyw4OTksMjk2IHwgMC4zNTA1JSB8CnwgMTcgfCBVUyBUUkVBU1VSWSBOL0IgMC42MjUlIDA1LzE1LzIwMzAgfCAyMDcsNTcyLDMxMywwODggfCAwLjM0NjElIHwKfCAxOCB8IFVTIFRSRUFTVVJZIE4vQiAxLjUlIDAxLzMxLzIwMjcgfCAxOTcsMjgxLDAyMiw4MzUgfCAwLjMyOTElIHwKfCAxOSB8IFVTIFRSRUFTVVJZIE4vQiAyLjc1JSAwMi8xNS8yMDI4IHwgMTkyLDgzNSwwODEsMTUzIHwgMC4zMjE2JSB8CnwgMjAgfCBVUyBUUkVBU1VSWSBOL0IgMS41JSAwOC8xNS8yMDI2IHwgMTkyLDY1OSw5OTAsODg4IHwgMC4zMjE0JSB8CgrotYTmlpnmnaXmupDvvJogR1BJRjIwMjPlubTmiqXvvIzlm73lhYPor4HliLjnoJTnqbbmiYA=
2006年以來GPIF投資收益與超額_第53頁
fCDmjpLlkI0gfCAyMDE15bm0IHwgMjAxNuW5tCB8IDIwMTflubQgfCAyMDE45bm0IHwgMjAxOeW5tCB8IDIwMjDlubQgfCAyMDIx5bm0IHwgMjAyMuW5tCB8IDIwMjPlubQgfAp8LS0tLS0tfC0tLS0tLS0tfC0tLS0tLS0tfC0tLS0tLS0tfC0tLS0tLS0tfC0tLS0tLS0tfC0tLS0tLS0tfC0tLS0tLS0tfC0tLS0tLS0tfC0tLS0tLS0tfAp8IDEgICAgfCDoi7nmnpwgICB8IOiLueaenCAgIHwg6Iu55p6cICAgfCDlvq7ova8gICB8IOW+rui9ryAgIHwg6Iu55p6cICAgfCDoi7nmnpwgICB8IOiLueaenCAgIHwg5b6u6L2vICAgfAp8IDIgICAgfCDln4PlhYvmo67nvo7lrZogfCDlvq7ova8gICB8IOW+rui9ryAgIHwg6Iu55p6cICAgfCDoi7nmnpwgICB8IOW+rui9ryAgIHwg5b6u6L2vICAgfCDlvq7ova8gICB8IOiLueaenCAgIHwKfCAzICAgIHwg5b6u6L2vICAgfCDkuprpqazpgIogfCDkuprpqazpgIogfCDkuprpqazpgIogfCDkuprpqazpgIogfCDkuprpqazpgIogfCDkuprpqazpgIogfCDkuprpqazpgIogfCDoi7HkvJ/ovr4gfAp8IDQgICAgfCDlvLrnlJ8gICB8IE1ldGEgICB8IE1ldGEgICB8IE1ldGEgICB8IE1ldGEgICB8IE1ldGEgICB8IEFscGhhYmV0IEHnsbsgfCDoi7HkvJ/ovr4gfCDkuprpqazpgIogfAp8IDUgICAgfCDltJTlt6IgICB8IOW8uueUnyAgIHwg5pGp5qC55aSn6YCaIHwgQWxwaGFiZXQgQ+exuyB8IEFscGhhYmV0IEPnsbsgfCBBbHBoYWJldCBD57G7IHwg54m55pav5ouJIHwgQWxwaGFiZXQgQeexuyB8IE1ldGEgfAp8IDYgICAgfCDlr4zlm73pk7booYwgfCDln4PlhYvmo67nvo7lrZogfCDlvLrnlJ8gICB8IOW8uueUnyAgIHwgQWxwaGFiZXQgQeexuyB8IEFscGhhYmV0IEHnsbsgfCBBbHBoYWJldCBD57G7IHwgQWxwaGFiZXQgQ+exuyB8IEFscGhhYmV0IEHnsbsgfAp8IDcgICAgfCDor7rljY4gICB8IOaRqeagueWkp+mAmiB8IEFscGhhYmV0IEPnsbsgfCBBbHBoYWJldCBB57G7IHwg6Zi/6YeM5be05be0IHwg5Y+w56ev55S1IHwg6Iux5Lyf6L6+IHwg54m55pav5ouJIHwgQWxwaGFiZXQgQ+exuyB8CnwgOCAgICB8IOe+juWbvemAmueUqOeUteawlCB8IEFscGhhYmV0IEPnsbsgfCDnvo7lm73pk7booYwgfCDmkanmoLnlpKfpgJogfCDlvLrnlJ8gICB8IOmYv+mHjOW3tOW3tCB8IOWPsOenr+eUtSB8IE1ldGEgfCDnpLzmnaUgfAp8IDkgICAgfCDmkanmoLnlpKfpgJogfCDlr4zlm73pk7booYwgfCBBbHBoYWJldCBB57G7IHwg57u06JCoICAgfCDnu7TokKggICB8IOeJueaWr+aLiSB8IE1ldGEgfCDogZTlkIjlgaXlurcgfCDlj7Dnp6/nlLUgfAp8IDEwICAgfCDlrp3mtIEgICB8IEFscGhhYmV0IEHnsbsgfCDohb7orq8gICB8IOWfg+WFi+ajrue+juWtmiB8IOW0lOW3oiAgIHwg5pGp5qC55aSn6YCaIHwg6IGU5ZCI5YGl5bq3IHwg5Z+D5YWL5qOu576O5a2aIHwg5Y2a6YCaIHwKCui1hOaWmeadpea6kO+8miBHUElG5Y6G5bm05bm05oql77yM5Zu95YWD6K+B5Yi456CU56m25omA
2006年以來GPIF投資收益與超額_第54頁
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
2006年以來GPIF投資收益與超額_第55頁
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
2006年以來GPIF投資收益與超額_第56頁
fCDlubTku70gfCBHUElG6LaF6aKd5pS255uKIHwgR1BJRuaKlei1hOaUtuebiueOh++8iOW3pui9tO+8iSB8IOWfuuWHhuaUtuebiu+8iOW3pui9tO+8iSB8CnwtLS0tLS18LS0tLS0tLS0tLS0tLS18LS0tLS0tLS0tLS0tLS0tLS0tLS0tLS0tLS18LS0tLS0tLS0tLS0tLS0tLS0tfAp8IDIwMDbliY3ljYrotKLlubQgfCAtMC4xJSAgICAgICAgfCAyLjUlICAgICAgICAgICAgICAgICAgICAgfCAyLjQlICAgICAgICAgICAgIHwKfCAyMDA35YmN5Y2K6LSi5bm0IHwgMy45JSAgICAgICAgIHwgMTEuOCUgICAgICAgICAgICAgICAgICAgIHwgMTEuNyUgICAgICAgICAgICB8CnwgMjAwOOWJjeWNiui0ouW5tCB8IC0xMC42JSAgICAgICB8IC0xMi42JSAgICAgICAgICAgICAgICAgICB8IC0xMi41JSAgICAgICAgICAgfAp8IDIwMDnliY3ljYrotKLlubQgfCAxNy4xJSAgICAgICAgfCAxNi44JSAgICAgICAgICAgICAgICAgICAgfCAxNi43JSAgICAgICAgICAgIHwKfCAyMDEw5YmN5Y2K6LSi5bm0IHwgMy42JSAgICAgICAgIHwgMy41JSAgICAgICAgICAgICAgICAgICAgIHwgMy40JSAgICAgICAgICAgICB8CnwgMjAxMeWJjeWNiui0ouW5tCB8IC0zLjglICAgICAgICB8IC00LjAlICAgICAgICAgICAgICAgICAgICB8IC0zLjklICAgICAgICAgICAgfAp8IDIwMTLliY3ljYrotKLlubQgfCAyLjYlICAgICAgICAgfCAyLjUlICAgICAgICAgICAgICAgICAgICAgfCAyLjQlICAgICAgICAgICAgIHwKfCAyMDEz5YmN5Y2K6LSi5bm0IHwgMTMuMCUgICAgICAgIHwgMTIuOSUgICAgICAgICAgICAgICAgICAgIHwgMTIuOCUgICAgICAgICAgICB8CnwgMjAxNOWJjeWNiui0ouW5tCB8IC0xLjYlICAgICAgICB8IC0xLjclICAgICAgICAgICAgICAgICAgICB8IC0xLjYlICAgICAgICAgICAgfAp8IDIwMTXliY3ljYrotKLlubQgfCA3LjYlICAgICAgICAgfCA3LjUlICAgICAgICAgICAgICAgICAgICAgfCA3LjQlICAgICAgICAgICAgIHwKfCAyMDE25YmN5Y2K6LSi5bm0IHwgLTMuMSUgICAgICAgIHwgLTMuMiUgICAgICAgICAgICAgICAgICAgIHwgLTMuMSUgICAgICAgICAgICB8CnwgMjAxN+WJjeWNiui0ouW5tCB8IDUuNCUgICAgICAgICB8IDUuMyUgICAgICAgICAgICAgICAgICAgICB8IDUuMiUgICAgICAgICAgICAgfAp8IDIwMTjliY3ljYrotKLlubQgfCAtMS43JSAgICAgICAgfCAtMS44JSAgICAgICAgICAgICAgICAgICAgfCAtMS43JSAgICAgICAgICAgIHwKfCAyMDE55YmN5Y2K6LSi5bm0IHwgNS40JSAgICAgICAgIHwgNS4zJSAgICAgICAgICAgICAgICAgICAgIHwgNS4yJSAgICAgICAgICAgICB8CnwgMjAyMOWJjeWNiui0ouW5tCB8IC0wLjYlICAgICAgICB8IC0wLjclICAgICAgICAgICAgICAgICAgICB8IC0wLjYlICAgICAgICAgICAgfAp8IDIwMjHliY3ljYrotKLlubQgfCA1LjAlICAgICAgICAgfCA0LjklICAgICAgICAgICAgICAgICAgICAgfCA0LjglICAgICAgICAgICAgIHwKfCAyMDIy5YmN5Y2K6LSi5bm0IHwgMTQuNSUgICAgICAgIHwgMTQuNCUgICAgICAgICAgICAgICAgICAgIHwgMTQuMyUgICAgICAgICAgICB8CnwgMjAyM+WJjeWNiui0ouW5tCB8IDAuNSUgICAgICAgICB8IDAuNCUgICAgICAgICAgICAgICAgICAgICB8IDAuMyUgICAgICAgICAgICAgfAoK6LWE5paZ5p2l5rqQ77yaR1BJRjIwMjPlubTmiqXvvIzlm73lhYPor4HliLjnoJTnqbbmiYA=
2006年以來GPIF投資收益與超額_第57頁
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
2006年以來GPIF投資收益與超額_第58頁
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
2006年以來GPIF投資收益與超額_第59頁
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
2006年以來GPIF投資收益與超額_第60頁
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
2006年以來GPIF投資收益與超額_第61頁
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
2006年以來GPIF投資收益與超額_第62頁
2006年以來GPIF投資收益與超額_第63頁
2006年以來GPIF投資收益與超額_第64頁
2006年以來GPIF投資收益與超額_第65頁
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
2006年以來GPIF投資收益與超額_第66頁
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
所屬報告： “中長期資金”研究系列之一：日本養老金體系洞察：GPIF引領的資產配置與全球投資-241023.pdf
打包全文圖表

相關數據

最新數據
聯系我們
  • 0731-84720580
  • sgpjbg002
  • 工作日 9:30 - 18:00
關于我們
侵權處理
關于我們

三個皮匠報告專業的行業報告下載站，每日更新，歡迎大家關注！

copyright@2008-2013 長沙景略智創信息技術有限公司版權所有
網站備案/許可證號：湘B2-20190120

客服
商務合作
小程序
服務號
折疊
午夜网日韩中文字幕,日韩Av中文字幕久久,亚洲中文字幕在线一区二区,最新中文字幕在线视频网站