Eom, Yunsung; Woo, Mincheol - In: Journal of derivatives and quantitative studies 30 (2022) 3, pp. 172-196
As of March 2021, the National Pension Service (NPS) is the world’s 3rd largest pension fund with 872.5tn won (KRW) in management. Recently, the NPS proposed a policy to gradually reduce the proportion of domestic stocks in the portfolio in the future. This change in the asset allocation...