Korea military fund to boost overseas exposure

Korea's Military Mutual Aid Association (MMAA) is keen to increase its securities portfolio during the second half of 2011. Local real-estate markets, to which it is heavily exposed, have not lived up to performance expectations, nor provided the breadth of investment opportunities for the growing $7.6 billion fund. Established in 1984 to ensure more stable livelihoods and welfare for Korean military service personnel and related civilian members, MMAA currently serves more than…