NPS to start more in-house management of alternatives and foreign bonds

Korea’s National Pension Service (NPS) is taking a more active approach to its fixed income and alternative investments by cutting the outsourced percentage of foreign bonds and establishing a dedicated investment team for private equity and debt. The pension fund revealed the initiative at end-August, at the same time as it disclosed that its assets under management (AUM) had reached W908.3 trillion ($780 billion) by the end of June, surpassing W900 trillion for the first time, a…