Korea’s NPS resists pressure to raise local stock investments

The National Pension Service (NPS) of Korea is keeping its plan to sell its position in local stocks and increase allocation to overseas investments, despite mounting criticism from local retail investors that this recent sale of equities is causing their prices to fall. NPS's target portfolio for 2021. (Source: NPS) The world’s third largest pension fund had W176.69 trillion, or 21.19% of its W833.73 trillion ($735.87 billion) portfolio, invested in domestic equities at t…