路透社10日的报道称，一份来自美国总统特朗普的最新行政令指示监管机构允许私募股权、房地产、加 密货币和其他"替代资产"加入美国人的 401(k)退休储蓄计划，为这些行业打开约12.5万亿美元退休账户 的大门。这意味着美国人的养老金投资将向更多高风险资产敞开大门，此举立刻受到了华尔街投资巨头 的欢迎。同时很多批评者认为，高风险资产的进入可能会使美国人失去大量退休储蓄。 401(k)退休储蓄计划是指一项主要面对美国工薪阶层的养老金计划，是美国养老金体系的重要支柱，该 计划允许工作者将部分工资以免税的形式投资于资本市场。英国《金融时报》10日报道称，长期以来， 该退休储蓄计划主要对接股票和债券等风险较低的资产。特朗普向私募股权和加密货币行业开放美国退 休储蓄计划的巨额资金，这可能重塑9000万美国人的金融未来。 报道称，白宫这一决策的背后是阿波罗全球管理公司和贝莱德等私人资本集团的长期大力游说。阿波罗 全球管理公司首席执行官马克·罗文声称，当前美国的退休金投资过度集中于英伟达等科技股，如果接 入私募，相关资产可以得到"更加优化的配置"。 《金融时报》援引的投资行业数据显示，2007年以来，401(k)退休储蓄计划掌 ...

Group 1 - The core viewpoint of the news is that a new executive order from President Trump allows alternative assets such as private equity, real estate, and cryptocurrencies to be included in Americans' 401(k) retirement savings plans, potentially opening up about $12.5 trillion in retirement accounts to higher-risk investments [1] - The 401(k) retirement savings plan is a significant pillar of the U.S. pension system, primarily allowing workers to invest part of their wages in lower-risk assets like stocks and bonds [1] - The decision is influenced by lobbying from private capital groups like Apollo Global Management and BlackRock, indicating a shift in investment strategy for approximately 90 million Americans [1] Group 2 - Since 2007, the funds managed under the 401(k) retirement savings plan have tripled, reaching several trillion dollars, with large private capital groups betting on future growth from Washington's opening of retirement assets [2] - Experts express concerns that while the theoretical benefits include broader investment opportunities for ordinary Americans, the risks associated with higher volatility and lower transparency in private markets could lead to significant losses in retirement savings [2][3] - The fees associated with private assets are notably higher than traditional 401(k) investments, with management fees for private funds reaching 1% to 2% and performance fees up to 20%, compared to 0.3% for target-date mutual funds [2]