NPS enjoys 9.2% return as of Q3 on bullish US stocks

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NPS enjoys 9.2% return as of Q3 on bullish US stocks - Korea Economic Daily

Quick Summary:

The National Pension Service (NPS), South Korea’s largest institutional investor, reported a preliminary 9.18% return from investments, equivalent to 97 trillion won ($70 billion), during the first nine months of this year thanks to the robust performance of its foreign equity holdings, its report showed on Friday.

The gain was largely driven by the stellar performance of its global equity, especially US tech stocks, which returned 21.35%, amid high expectations for the US Federal Reserve’s rate cuts to bolster the economy.The US dollar’s 2.34% appreciation against the Korean won since the start of this year also helped improve the return on global asset investment, the NPS said.

Because the return on alternative assets, including real estate, private equity and infrastructure, mainly reflects interest income, dividend income and foreign exchange gains from a strong greenback, changes in the valuation of investment assets are not reflected.