National Pension ServiceThe National Pension Fund Management Committee (Fund Committee) changed the purpose of holding Hanjin Kal shares held by the National Pension Service from ‘management participation’ to ‘simple investment’.
The Fund Committee held its second meeting on the 29th at The Plaza Hotel in Jung-gu, Seoul and made this decision.
If the purpose of holding Hanjin Kal shares is maintained as ‘participation in management’, the FSS holds restrictions such as being unable to acquire additional Hanjin Kal shares or exercise voting rights for a certain period if the National Pension stake exceeds 5%. He said he had taken this into account.
In addition, it was decided to change the key risk level index, which is used as a standard for fund management, from ‘under-risk’ to ‘extreme loss’.
The risk of under-performing means the possibility that the cumulative operating rate of return for the next five years will fall below the cumulative consumer price inflation rate for the same period.
Using extreme loss, it is possible to predict the maximum risk and loss value before actual loss occurs, which helps active asset management.
Accordingly, at the meeting, a report on the ‘2023-2027 medium-term asset allocation plan establishment status’ was also reported. Based on this, the final asset allocation plan will be established at the next fund committee meeting.
The medium-term asset allocation plan is to set a target rate of return for the next five years within the risk limit and to determine the target weight for each of the five asset classes: domestic and overseas stocks, domestic and overseas bonds, and alternative investment.
In addition, they listened to an explanation of the progress of the subcommittee discussing the change of the subject of representative lawsuits, and discussed the results of research services to establish the scope and standards of the coal mining and power generation industry.
Lee Tae-soo, head of the Korea Institute for Health and Social Affairs, a member of the Fund Committee, said, “Uncertainties in the global financial market are increasing due to the unrest in the international situation, such as the war in Ukraine, and we are facing a difficult investment environment due to interest rate hikes and weakened investor sentiment.” Please secure it.”
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