Korea’s NPS to boost foreign assets by up to 50%

Korea’s National Pension Service (NPS) is set to significantly raise its exposure to overseas markets, most notably equities, in an effort to keep pace with its five-year average annual return target of 5.3%. According to its chief investment officer, Ahn Hyo-joon, the fund plans to increase overseas exposure to up to 45% of its W565.5 trillion (about $500 billion) under management within five years, up from 30% today. This would mean a $75 billion larger allocation today; it will…