世界银行：2026年国内外养老基金投资实用指南报告：通过可投资窗口将信托责任与公共目标相结合（英文版）

This paper helps pension fund professionals, board members, policymakers, and regulators make better decisions about the balance between domestic and international investments. It focuses on funded pension systems, where strategic asset allocation is both a tool for financial sustainability and a lever for national development. In many developing countries, pension assets are growing rapidly relative to domestic capital markets. This creates both opportunity and tension. Pension funds are exp