New CIO at Korea's GEPS plans allocation shift

The new chief investment officer at Korea’s Government Employees Pension Service (GEPS) says the retirement fund has not generated adequate returns in the past and plans to make significant changes to its asset allocation. Choi Young-Gwon started last week as CIO, replacing Yoo Seung-Rok, who left in March after three years at GEPS and last month set up an advisory company called Blacknumber Advisory. Choi was most recently CIO of Plus Asset Management. The Ministry of Security …