The new benchmark approach allows the South Korean pension scheme to flexibly invest in new assets, provided they meet the preset risk-return requirements, rebalancing its portfolio overweight in private equity.“With the introduction of the new benchmark portfolio, we will be able to invest more flexibly and swiftly in products that were previously excluded from our predefined asset class categories,” Kim said in a keynote speech at the global investment conference ASK 2025.
GP SELECTION CRITERIATo enhance the performance of private equity, the top-performing asset class for the pension fund, the NPS will add a consideration of how investment firms can contribute to portfolio company growth to its selection criteria for general partners.“We want to distinguish between returns driven primarily by asset sales and those generated through sustainable growth such as revenue increase in portfolio companies,” Kim said.
The National Pension Service (NPS), the world’s third-largest pension fund, has been further diversifying its portfolio through increased exposure to direct lending and secondary deals since introducing a new benchmark portfolio framework this year, its Chairman Kim Tae-hyun said on Wednesday.
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