South Korea's public pension fund, the world’s third-largest, posted a negative return last year. But it's not the whole story; there's an alternative(s) angle.
South Korea’s sovereign wealth fund is keen to further develop its investment capabilities, which is likely to give a fillip to its co-operation pact with Korea Post.
The insurers are looking to boost their returns by investing more in alternatives but also doing so with an eye to the rigorous capital rules still to come.
The huge pension fund has finally found a chief investment officer after much speculation, and is seen as being more active in seeking asset managers for new portfolios.
Korea's National Pension Service has posted a good set of annual results in 2017, despite losing a string of senior investment executives. Its luck could run out this year.
The new appointment comes after Cho In-sik steps down from his role amid other changes, as the Korean state pension fund seeks a permanent investment chief.