이 기사는 2021년 03월 26일 08:06 thebell 에 표출된 기사입니다.

The National Pension Service of South Korea (NPS) has announced a restructuring of its investment strategy division to align its organization with the pension fund’s long-term strategy of boosting investments abroad.

A draft revision of the pension fund’s operational rules, which was recently released, said that one of the teams under its investment strategy division will be responsible for management of the fund’s tactical asset allocation, with the team’s name also changed to TAA Management.

The revision comes after NPS set criteria for selecting asset managers for its multi-asset strategy earlier this year, a move seen as a step toward diversifying the pension scheme’s exposure to alternative investments and overseas securities.

The pension fund has also created provisions that clarify tactical options, such as derivatives, to manage currency risk arising from overseas investments.

“The purpose of the restructuring is to align the fund’s organization with our overseas investment plan,” said the NPS. “We are also adopting a tactical management policy in order to be prepared for an increase in exposure to assets abroad in the future.”

NPS announced its five-year plan last summer to expand investments abroad in an effort to improve efficiency of asset management and enhance returns.

The pension fund had 833.7 trillion won ($734.8 billion) in assets under management at the end of 2020, with overseas investments accounting for 303.9 trillion won, or 36.5%, of the total assets. It plans to boost its allocation to foreign assets to 50% by 2024. (Reporting by Hee-yeon Han)