Research on the Immigrant Capital Investment Portfolio Based on the Mean-Variance Model.

Hydropower development is an important strategic measure for the reform of our country's energy supply side structure, but its development often brings a large number of population migrations. Whether the resettlement funds can be used to properly resettle the reservoir resettlement is related to the sustainable development of the region and the harmony and stability of the society. The use of resettlement funds at this stage is mainly based on compensation standards and experience, without considering the efficiency of fund use. This paper introduces the principles of market economy, and considers the use of immigration funds as an investment from the perspective of immigration fund planners. According to our country's current land acquisition compensation resettlement policy, the use of funds is divided into land acquisition compensation, resettlement and follow-up livelihood assistance, and a judgment matrix is constructed according to the benefits of the resettlers to quantify the benefits and risks of different investment directions. On the premise that the three types of investment can meet the minimum needs of immigrants, the Sharpe ratio is used as a measure to calculate the fund use plan with the greatest benefit when the risk level is certain, which provides a new research paradigm for improving the efficiency of the use of immigration funds. Case analysis shows that the investment direction of the resettlement funds of the GB water conservancy project is generally in line with the resettlement wishes, but the follow-up livelihood assistance is low, and the direction of the use of funds should be adjusted to ensure the resettlement's livelihood recovery and follow-up development. [ABSTRACT FROM AUTHOR]