NPS to insource more international equities

The National Pension Service, the $311 billion state pension fund of South Korea, intends to expand its outsourcing programme for external managers in several asset classes, but will begin to increase the portion of international equities it manages internally. Officials at NPS say that, in general, the fast pace of asset growth necessitates adding third-party fund managers. Only this month NPS revealed that it had been awarded a qualified foreign institutional investor (QFII) lic…