Korea's National Pension Service (NPS) reported a 27.2% return for 1H, its
strongest half-year since at least 2022. As of end-June NPS managed KRW 1,866
tln (USD 1.35 tln). Domestic equities returned 107.4% as the KOSPI reached
record highs. Overseas equities returned 17.8%; overseas fixed income 9.22%;
alternatives 9.6%; domestic bonds -3.0%. NPS attributed the results to strong
domestic and global equity market performance. The preliminary 1H return already
exceeds last year’s record full-year return of 18.8%.
