Korean NPC to give international bond managers $2 billion

However, it has yet to disburse money to its new international equity managers.

The $77 billion National Pension Corporation of South Korea is likely to outsource $2 billion to international fixed-income fund managers later this year, according to sources close to the organization.

This would mark its second foray overseas. At the beginning of the year it mandated a total of W500 billion $400 million for international equities to Capital International, Fidelity Investments, State Street Global Advisors and Wellington International Management.

NPC's new CIO, KJ Cho, joined in November and is said to prefer diversifying into international bonds rather than face the uncertainties of the global equities market. Why go for high risk when you can get a decent fixed-income return says...

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