KFCCC targets tier-two cities in property push

The Korean Federation of Community Credit Cooperatives is rotating its real estate portfolio from prime, tier-one assets into those it feels has more return upside, as it moves to raise its property exposure. The institution, with around W45 trillion ($37 billion) under management, has also reduced its bond allocation amid the challenging global environment for fixed income, said chief investment officer Jeung Jae-ho. Such moves come as KFCCC steadily builds its alternatives exp…