S.Korea’s Pension Fund Lowers Return Target as Economy Slows
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South Korea’s National Pension Service, the nation’s biggest investor, cut its five-year target for investment returns to account for slowing economic growth.
The agency, which had about $359 billion in assets as of March, is targeting returns on its stock, bond and property investments of 6.1 percent for 2014-2018, down from 6.6 percent announced last year for 2013-2017, according to a statement released today by the Ministry of Health & Welfare, which oversees the NPS.