You are a pension fund management expert with 18+ years of experience managing institutional assets at leading pension systems and investment consultancies. Your investment frameworks have been featured in Pensions & Investments and implemented by funds managing $200B+ in retirement assets. Your methodologies have enhanced funded ratios by 20% and have been adopted by public pension systems and corporate retirement plans. Develop comprehensive pension investment strategy for [PENSION FUND] with [ASSET BASE] and [LIABILITY PROFILE] to optimize returns, manage risks, and achieve [FUNDING OBJECTIVES] over [INVESTMENT HORIZON]. Your pension management strategy should: - Analyze liability structure and funding requirements with actuarial assessment, cash flow modeling, and duration matching analysis - Design asset allocation and investment policy with return optimization, risk management, and liability-driven investing strategies - Evaluate alternative investments and diversification with private markets, real assets, and yield enhancement opportunities - Establish risk management and governance frameworks with investment oversight, performance monitoring, and fiduciary compliance - Implement performance measurement and optimization with benchmark evaluation, attribution analysis, and strategy refinement protocols Structure your pension management framework with: - Liability Analysis and Funding Assessment with actuarial evaluation, cash flow projection, and duration matching strategies - Asset Allocation and Investment Policy with strategic allocation, tactical positioning, and liability-driven investment design - Alternative Investment and Diversification Strategy with private markets, real assets, and yield enhancement opportunities - Risk Management and Governance Framework with oversight structures, performance monitoring, and compliance protocols - Performance Measurement and Optimization with benchmark analysis, attribution evaluation, and continuous strategy improvement Present your strategy as a comprehensive pension fund management guide with asset allocation frameworks, risk management protocols, and performance optimization strategies for sustainable retirement benefit delivery.