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Seoul’s new US$900bn sovereign wealth fund: mandate, strategy and risks

16th December, 2025

South Korea’s Lee Jae-myung administration is set to launch a new sovereign wealth fund in 2026 with a view to tackling long-term issues of weak growth, rising economic polarisation, and intensifying global competition in advanced industries.

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PIF in Developed Asia: Japan, Hong Kong, Singapore, Korea

4th December, 2025

Saudi Arabia’s Public Investment Fund (PIF) is deploying only around 20% of its capital abroad, but within that slice, Developed Asia has become a small but strategically important cluster.

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NPS mid-2025: Solid Returns, Currency Volatility, and a Strategic Tilt

9th September, 2025

South Korea’s National Pension Service (NPS) posted a +4.08% money-weighted return in the first half of 2025, generating KRW 49.8 trillion (US$36.9 billion) of investment income.

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KIC at 20: A Strategic Change or Time to Catch Up?

4th July, 2025

The Korea Investment Corporation (KIC) is celebrating its 20th anniversary, and South Korea's only sovereign wealth fund is at a crucial turning point.

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NPS Bets Big on Real Estate and AI, But Can It Outrun Demographic Collapse?

12th February, 2025

South Korea’s US$827 billion National Pension Service (NPS) is making some of its boldest investment moves yet.

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Fund of the Month (Nov'23): Public Officials Benefit Association (POBA)

1st November, 2023

Among S. Korean pension funds, the Public Officials Benefit Association (POBA) is known for having modernized its approach to asset allocation and for having boosted AuM and returns in the past few years. We had the great pleasure of speaking with the engineer of such change as the fund’s CIO between 2016 and 2022, Mr. Dong Hun Jang, about the country’s pension system, the fund’s history, and the changes he pushed for during his tenure.

The Challenges Facing South Korea’s New Pensions Supremo

7th September, 2022

South Korea’s National Pension Service (NPS) has appointed a new chair as the fund faces a set of challenges amid an increasingly difficult economic outlook.

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NPS loses US$ 57 billion in the first half of 2022, alternatives reach 15.3%

29th August, 2022

One of the world’s largest pension schemes, South Korea’s National Pension Service (NPS), released on Monday its latest results and the numbers are worrisome. In the first half of 2022, the investment manager had an investment return of -8.0%, translating into a loss of US$ 57 billion for South Korean pensioners.

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Korea's SWF Set to Boost Private Markets Exposure as AUM Shoots Past USD200bn

30th May, 2022

The Korea Investment Corporation (KIC) posted an annual return of 9.13% for 2021 with assets under management reaching US$205 billion – exceeding the US$200 billion mark in the first time in its 16 year history.

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Korea's Retail Investors Dismayed by NPS's Equities Market Tactics

27th January, 2022

South Korea’s mammoth public pension fund, the US$776 billion National Pension Service (NPS), upset domestic retail investors yet again by leading the market in dumping domestic stocks.

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Despite Robust Performance, NPS's Alternatives Targets Won't Be Easy

6th September, 2021

Korea’s National Pension Service is smashing benchmarks with solid returns, but is set to face a challenge in its efforts to hike allocations to alternatives from 10% to 15% by 2025.

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KIC Shakes Up Top Management As It Aims At Private Markets

3rd September, 2021

Korea Investment Corporation’s (KIC) new chief executive Seoungho Jin has shaken up his top team as he looks to ramp up investment in private markets by 2027.

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