Korea’s PMAA eyes new asset types, hires and outsourcing

South Korea's Police Mutual Aid Association is set to increase its exposure to foreign alternatives and stocks and to boost its manager research capabilities in a bid to raise its target return over time to 6% from its current 3.37%. The $1.74 billion savings fund is eyeing new types of assets such as overseas private equity funds, and would consider making direct investments in emerging-market securities, said chief investment officer Lee Doyoon, who joined in October 2016. PMA…