UPDATED: Korea’s NPS lags on returns, replaces equity head
The $427 billion pension fund has named a new head of domestic equities amid changes under its new leadership, following underperformance against a range of overseas peers. (The update corrects an error in the ninth paragraph regarding the performance of the MSCI All Country World Index (ex-Korea).)
Korea’s National Pension Service (NPS) has posted significantly lower returns than many other large public pension funds, with local media reports suggesting the state retirement fund needs to improve the efficiency of its fund management.
One reason for NPS’s lacklustre performance last year was the underperformance by its domestic equity portfolio. The fund has subsequently appointed former head of risk management Cho In-Sik to replace head of domestic equity investment Han Jun…
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