Korea’s National Pension Fund Rebounds With 13.6% Return in 2023, Grows to $780B
A strong performance from equities spurred a sharp turnaround from the previous year’s 8.2% loss.
A strong performance from equities spurred a sharp turnaround from the previous year’s 8.2% loss.
The $750 billion National Pension Service’s investment provides it with an undisclosed minority interest in San Francisco-based Stockbridge Capital.
The gambit is designed to help the nation’s currency in a deal engineered by its central bank.
Despite downturn, the $684.5 billion fund’s losses were offset by an increased allocation to alts.
The $635.5 billion fund was aided by being overweight in fixed income and underweight in equities.
Pension tops 700 trillion won for first time in 31-year history.
Group says Korean equities have ‘chronically underperformed’ for seven years.
Ahn Hyo-joon, 55, will lead the investment strategy of the world’s third-largest pension fund.
Cho In-Sik departs amid search for permanent successor at No. 3 biggest public pension program.
Samsung investigating internal systems and controls, promises to compensate investors.
Third-largest pension fund has been without permanent CIO since July.
In the aftermath of a scandal, South Korea’s National Pension Service loses CIO Myoun-Wook Kang.
Ex-health minister sentenced to 2 ½ years for leaning on national pension to approve controversial Samsung merger.