The third-largest pension fund in the world is planning a large hiring push within three years as it aims to boost overseas assets in its portfolio. The National Pension Service of South Korea, a $400 billion pension fund, is also aiming to hire foreigners for the first time, according to a recent report from Bloomberg.
The pension recently started a new team to manage foreign-exchange risk. It is also studying investments in hedge funds, with plans to lift overseas holdings to 30% of assets within five years, up from the current 20% of assets.
The National Pension Service was established in 1988 to manage pensions for private sector workers and the self-employed. Its chief executive officer Choi Kwang told Bloomberg that the fund will likely grow to $2.2 trillion within 30 years, with a need to invest more in overseas markets to avoid “roiling local financial markets” in the future.
Learn more about the National Pension Service’s plans online from Bloomberg.