KIC's alternatives strategy pays off despite 2022 losses
A tough year in public markets has taken its toll on the performance of Korea’s sovereign wealth fund, but an increasing allocation to alternatives has counterbalanced some of the losses.
Sovereign wealth fund Korea Investment Corporation (KIC)'s annual loss in 2022 was its largest since the global financial crisis of 2007-2008, according to its annual report.
However, its alternatives portfolio managed to outperform.
The fund posted a 14.36% loss for 2022, equivalent to a loss of $29.7 billion. The steepest loss for the fund was in 2008, when it suffered a 17.5% fall in return, a spokesperson told AsianInvestor.
Assets under management (AUM) in 2022 totalled …
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