Korea’s Geps plans first global equity mandates

Korea’s Government Employees Pension Service (Geps) is seeking to double its exposure to overseas assets by the end of this year, including outsourcing global equity mandates and increasing alternative investments. The public sector plan, which was implemented in 1960 and has $5 billion in assets under management, has set a target to expand its international exposures to 15% of AUM, from 7.7% at the end of 2014. That, in itself, was an increase from 4.3% in 2013. For its global …