Seo, formerly CIO of the Government Employees Pension Service (GEPS), said the new benchmark portfolio will initially be applied to alternative investments that offer relatively lower risk and higher returns, before expanding to equities and bonds over time.“With the rapid growth of the NPS fund, a fundamental change in our investment approach is necessary,” he said, signaling broader changes in the fund's management strategy.
The National Pension Service (NPS), South Korea’s state-run pension fund and the country’s largest institutional investor, plans to introduce a new benchmark portfolio framework to improve gains from its alternative investment – a move that aims to increase flexibility and efficiency amid rapidly evolving market conditions.
NPS OUTPERFORMS GLOBAL PEERSSeo said the NPS’ performance compares favorably to global peers such as Norway’s Government Pension Fund Global (GPFG) and the Netherlands’ ABP.“Last year’s investment gain is nearly four times the 44 trillion won paid annually to seven million pension recipients and amounts to 24% of the government’s 2024 budget of 657 trillion won,” he said.
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