Government is to promote a plan of encouraging the National Pension Fund -- which seems to be planning on buying domestic equities worth about 9 trillion won or more this year -- to advance its investment timing. However, controversy is expected as the National Pension Service, manager of the National Pension Fund, is determined to buy stocks in accord with its already-formed investment strategy and market conditions.
on January 23, the government held a financial policies conference to discuss and promote plans to placate the instability in the financial and stock markets, according to which, an early execution of the National Pension Fund’s equities investment is to be encouraged. At the conference this day, Vice Minister of Finance and Economy (MOFE) Kim Seok-dong, Bank of Korea (BOK) Senior Deputy Governor Lee Seung-il, and Financial Supervisory Commission (FSC) Vice Chairman Lee Seung-woo attended.
Vice Minister Kim said that for share price stabilization, equities investments by the National Pension Fund and other pension funds are to be executed at an earlier date. He further added that the participants agreed that although the scope of exposure of domestic financial market to further corrections has been widened due to external factors, the current situation does not reflect a simultaneous agitation of financial system and the real economy.
The National Pension Fund’s asset allocated for domestic equities is estimated to be from 9.5000 trillion won to as much as 22 trillion won.
However, the National Pension Fund’s standpoint in the issue -- the government’s plan to encourage an early execution of the capital -- is a bit negative. The National Pension Fund management authority is maintaining its initial stance that the fund’s investment in domestic equities is to be made in accord with market conditions and its strategies.
[Min-jeong Lee / KHS]
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
on January 23, the government held a financial policies conference to discuss and promote plans to placate the instability in the financial and stock markets, according to which, an early execution of the National Pension Fund’s equities investment is to be encouraged. At the conference this day, Vice Minister of Finance and Economy (MOFE) Kim Seok-dong, Bank of Korea (BOK) Senior Deputy Governor Lee Seung-il, and Financial Supervisory Commission (FSC) Vice Chairman Lee Seung-woo attended.
Vice Minister Kim said that for share price stabilization, equities investments by the National Pension Fund and other pension funds are to be executed at an earlier date. He further added that the participants agreed that although the scope of exposure of domestic financial market to further corrections has been widened due to external factors, the current situation does not reflect a simultaneous agitation of financial system and the real economy.
The National Pension Fund’s asset allocated for domestic equities is estimated to be from 9.5000 trillion won to as much as 22 trillion won.
However, the National Pension Fund’s standpoint in the issue -- the government’s plan to encourage an early execution of the capital -- is a bit negative. The National Pension Fund management authority is maintaining its initial stance that the fund’s investment in domestic equities is to be made in accord with market conditions and its strategies.
[Min-jeong Lee / KHS]
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
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