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S Korea's pension fund to diversify investment portfolio

Updated:2009-12-03 11:43:09

South Korea's state-run pension fund National Pension Service (NPS) said Wednesday it will tap into new investment opportunities in order to diversify its investment portfolio in the face of global financial uncertainties, the fund's new chief executive said Wednesday.

"The NPS is seeking for new investment targets to diversify our investments in a bid to generate stable returns amid a fast-changing global financial environment," Jun Kwung-woo, newly-appointed chief executive officer said in his inauguration speech.

The NPS will set up an investment plan that fist its status as the world's fifth-largest institutional investor, with its asset amounting to 270 trillion won, or 234 billion U.S. dollars, Jun said.

The new chief of the NPS succeeded the previous CEO Park Hae-choon who resigned over investment losses at a state-run bank he led from 2007 to 2008, according to local media.

 

 

Source:http://news.xinhuanet.com

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