South Korea pension fund to boost stocks investment
SEOUL May 23 (Reuters) - South Korea's national pension fund, one of the world's five biggest, aims to boost stocks in its portfolio by some 5 percentage points by the end of 2019 while cutting holdings of bonds, the government said on Friday.
The National Pension Service will aim to boost the proportion of stocks in its total investment portfolio to more than 35 percent by the end of 2019 from 30.1 percent at the end of 2013, the welfare ministry said in a statement.
The pension fund, which had investment assets totalling 427 trillion won ($416.89 billion) at the end of last year, would cut bond holdings to less than 55 percent by the end of 2019 from 60.4 percent at the end of 2013, the ministry said.
The fund aims to earn 5.8 percent on its investment on average for the next five years, the ministry said, without giving comparable figures for other periods.
($1 = 1024.2500 Korean Won) (Reporting by Choonsik Yoo; Editing by Kenneth Maxwell)
- Obama condemns killing of reporter, U.S. hits militants in Iraq |
- Thai junta leader appointed PM by hand-picked parliament
- U.S. military failed in rescue attempt for journalist Foley |
- Afghanistan gives NYT reporter 24 hours to leave country
- Gaza war rages on, Hamas says Israel tried to kill its military chief |