Korean pension eyes move into long-only

A Korean pension fund that already has overseas alternative exposures is looking to add long-only mandates in global equities and fixed income. Oh Tae-Ho, team leader of asset management at the Construction Workers Mutual Aid Association (CWMAA), says the small ($1.2 billion) fund is interested in expanding its total overseas allocation and diversifying it across asset classes. The current yield on Korean Treasury bonds with three-year maturity (the fund’s ‘risk-free’ benchmark)…