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Sign in Sign up for a FREE subscriptionKorea’s NPS records annual total return of –8.2% in 2022
The National Pension Service Investment Management, a dedicated fund management arm of South Korea’s National Pension Service (NPS), recorded a return of –8.22 percent for the fiscal year ending Dec. 31, 2022.
The pension fund also had a preliminary value of KRW 890.5 trillion ($700 billion).
NPS said the negative return reflected tighter global financial conditions driven by major central banks’ monetary tightening and Russia’s invasion of Ukraine. However, some losses were offset by expanded allocations to alternative assets and foreign exchange gains from the strengthening of the U.S. dollar.
The alternatives asset class, which includes real estate and infrastructure assets, returned 8.94 percent. NPS said alternatives achieved higher returns than traditional assets did on the back of capital appreciation and realized gains from real estate and infrastructure assets.
In other news, NPS will undergo a management reshuffle on April 10, as part of
