The $5 billion Government Employees Pension Service is looking to allocate up to $200 million to three external managers this year as part of drive to revitalise returns.
Choi Young-Gwon, who joined the retirement fund last week, aims to substantially boost its international exposure due to unsatisfactory returns.
Even the mighty National Pension Service lacks the internal capacity required as it and local peers expand international investments.
The Government Employees Pension Service appoints Yoo Seung Rok, who speaks about overseas opportunities. He joins after his predecessor’s contract was not renewed.
Ahn Yang Ho takes up a three-year term with the Government Employees Pension Service and vows to improve communication to inspire confidence in the fund.
The Government Employees Pension Service is preparing to expand its allocation to international equities and alternative investments, while also boosting cash levels.