Korea's NPS CIO talks with GPIF, GIC execs on asset allocation

Quick Summary:

NPS, the world’s third-largest pension fund managing 1101.3 trillion won ($793.5 billion) in assets as of the end of the first quarter, pledged in March it will actively support the government’s policy to buoy the anemic domestic stock market by buying up to 11 trillion won worth of local stocks.

South Korea’s National Pension Service (NPS) Chief Investment Officer Seo Won-joo has visited Japan and Singapore on his first overseas business trip this year to share the countries’ know-how on buoying domestic stocks and asset allocation.

The CIO had meetings with executives of Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, and sovereign wealth fund Government of Singapore Investment Corporation (GIC) and some alternative investment firms in the Southeast Asian city-state from June 9 to 13, NPS said on Monday.

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Category: Economy

Markets: South KoreaJapanSingapore

Topics: Pension Investment Visited Market Local Singapore Stocks Assets Asset Allocation Fund

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-24 @ 18:02:07 (3 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 380 words

Reading Time: 3 minutes read

Sentences: 18 lines

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Copyright Owner: © Korea Economic Daily

News ID: 21364697

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