...........................................................................................................................................1
...........................................................................................................................................1
...............................................................................................................................5
.............................................................................................................................14
.........................................................................................................................18
.............................................................................................29
.............................................................................................30
.............................................................................................................................37
.............................................................................................................................48
.............................................................................................................................48
.................................................................................................................49
.............................................................................................................55
.............................................................................................................56
.............................................................................................................58
.................................................................................................................58
.............................................................................................................................62
.....................................................................65
.........................................................................................................67
.................................................................................................82
.................................................................................................89
.....................................................................................90
.............................................................................................................90
.........................................................................................................................91
1
1.
2.
3.
4.
2
5.
6.
7.
8.
9. 2003 10 28 2004 6 1
10. 2004 6 25 7 1
11. 2004 6 8 7 1
12. 2004 6 29 7 1
13.
14. /
15.
16.
17.
18.
19.
3
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32. 3
33.
4
34.
35.T
36.T+n T n ( T )
37.
38.
39.
40.
41.
42.
43.
44.
45.
46. ( ) 10%
47.
48.
5
49.
50.
51.
52.
53.
54.
6
7
8
9
10
1 2 3 4
11
5 6 7 8
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
1.
2.
90
90
1.
31
2.
(T ) T+1 T T+2 ( )
3.
T 7 ( )
32
33
25% 10. ( )
1.
2.
34
3.
4.
5.
6.
1.
2.
3.
4.
5.
20
1.
(
35
) 10%
2.
(1)
(2) 10
(3) 2 ( ) 20
3.
3
1.
2. 1 1
36
3. 1 2 2 1
4. 2 2 1 2 1
( )
37
( )
A
A 60%
95% 5-40% 5% 80%
A A 70%
38
,
“ ” “ ”
1
1
39
1 2
2
1
GDP
2
40
3
PEG
PSG
2
/
/
3
1
41
2
3
4 /
4
5
,
Barra Aegis
(Active Risk) (Total Risk) (Value at Risk) (Return at
42
Risk)
40%× +40%× + 20%×
1.
(1) 10
(2) 3
(3) 10
(4) 10
(5) 40
43
(6) 60% 95% 5-40%
(7) 80%
(8) 10
(9) 20
(10) ( ) 10
(11) 10
(12) BBB ( BBB) 3
(13)
(14) 0.5
(15) 5
(16)
10
6
44
2.
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
1.
2.
3.
4.
( )
1. 2009 12 31
45
1,482,027,795.03 1.530 1.530
1,383,694,426.45 91.68
29,490,000.00 1.95
--
--
90,187,062.32 5.98
5,953,057.83 0.39
1,509,324,546.60 100.00
41,667,330.23 2.81
114,058,262.60 7.70
733,654,032.08 49.50
164,736,055.69 11.12
--
--
19,249,768.32 1.30
91,488,887.55 6.17
19,353,219.38 1.31
171,739,304.32 11.59
154,443,956.15 10.42
112,642,840.67 7.60
--
46
--
10,965,732.87 0.74
--
30,801,938.47 2.08
119,020,750.57 8.03
223,390,648.10 15.07
41,135,048.20 2.78
11,565,000.00 0.78
1,098,012.87 0.07
56,337,670.46 3.80
1,383,694,426.45 93.36
2,446,15398,604,427.43 6.65
3,239,89562,659,569.30 4.23
1,358,91356,530,780.80 3.81
1,096,03548,663,954.00 3.28
1,780,89446,908,747.96 3.17
1,189,96046,456,038.40 3.13
3,535,44646,031,506.92 3.11
1,379,90045,398,710.00 3.06
3,381,11944,461,714.85 3.00
2,562,86441,133,967.20 2.78
47
- - - - - - - - 29,490,000.00 1.99 29,490,000.00 1.99 29,490,000.00 1.99
2,453,140.73
2,255,455.72
-
230,644.57
1,013,816.81
-
-
48
-
5,953,057.83
-2009/12/31
53.00% 1.87% 70.47% 1.70% -17.47% 0.17%
( )
( )
( )
49
( )
50
51
52
53
54
55
( )
1.
2.
3.
4.
5.
( )
( )
1.
2.
3. , 10%,
56
4. 3
5.
6.
7.
8
9.
( )
( )
1.
2.
( )
1.
2.
3.
4.
5.
6.
7.
8.
( )
57
( )
1.
1.5%
H E× ÷
H
E
3
2.
0.25%
H E× ÷
H
E
3
3.
( )
( ) 2
58
( )
( )
1.
2. 1 1 12 31
3.
4.
5.
6.
7.
( )
1.
2.
3. ( ) ( )
59
( “ ”) ( “ ”)
1.
2.
3.
4.
5.
6.
( )
3 6 45 15 6 1
( )
3
60
( )
( )
( )
1.
2.
3.
( )
( )
1. 90
2. 60
3. 15
4. 2
61
5.
( )
2 1.
2.
3.
4.
5.
6.
7.
8.
9. 50%
10. 30%
11.
12.
13.
14.
15.
16.
17. 0.5%
18.
62
19.
20.
21.
22.
23.
24.
25.
26.
( )
( )
( )
( )
63
64
65
( )
1.
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(1)
(2)
(3)
(4)
(5)
(6)
2. 2
( )
66
1.
2. 6
3. 6
4.
( )
1.
(1)
(2)
(3)
2.
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
67
3.
4.
(1)
(2)
(3)
(4)
(1) (3)
5.
5
6.
15
1
2
3
4
5
6
68
7
8
9
1
2
3
4
5
6
7
1
2
3
4
5
6
69
7
8
9
10
11
12
13 .
14
1
2
3
4
5
6 .
7 .
8
9
10
70
11
12
13
14 .
15
16
17
18
19
20
21 .
22
23
24
25
26
27
71
1
2
3
4
5
6
7
8
1
2
3
4
5
6
7
8
9
72
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
1 . 10% ( 10% ) ( )
73
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
2
(1)
(2)
(3)
(4)
(5)
(6)
3
1
2 10 60
74
3 10% 10 60 10% 10 60
4 10% 10% 30
5
4
1 ( “ ”) 30
(1)
(2)
(3)
(4)
(5)
(6) ( )
(7)
(8)
(9)
(10)
75
2
3
5
1
(1)
(2)
(3)
(4)
2
(1)
A 50% ( 50% )
B
(2)
76
A 2
B / ( “ ”)
C
D 50%
E
6
1
(1)
(2) 10%
(3)
77
(4) 10 6
(5) 30 30
2
(1)
50%
( ) ( )
(2)
30 2
3
7
78
1
2
(1)
( ) 50%
(2)
(2)
( ) ( )
3
4
5
6
8
1
(1)
79
(2)
(3)
2
3
9
1 5 ( ) (1)-(8) ( ) (9) (10)
2
3 2
10
1
80
1
2 6
3 6
4
2
1
(1)
(2)
(3)
2
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
3
81
4
(1)
(2)
(3)
(4)
(1) (3)
5
5
6
15
82
99 20
99 20
200120
2004 5 12
[2004]56
2.5
( )
25
1 1
100140
2004 09 17
[1998]12
1
83
1
A 60%
95% 5-40% 5% 80%
,
2
(1) 10
(2) 3
(3) 10
(4) 10
(5) 40
(6) 60% 95% 5-40%
(7) 80%
8 10
(9) 20
(10) ( ) 10
(11) 10
(12) BBB ( BBB)
84
3
(13)
(14) 0.5
(15) 5
(16)
10
6
3
4 3
85
5
6
7
8
9
10
86
2
1
2
3
1
1
2
3
4
5
6
7
87
2
1 “ ”
2 2 2
3
3
1
2
3
4
4
1
2
3
4
5
5
88
6
1
2
7
/
8
15
1.
0.001
2.
3.
89
15
1
2
1
2
3
4
90
91
