韩国最大养老基金逆势加码海外投资 明年拟斥资265亿美元增持美股

Group 1 - The National Pension Service (NPS) of South Korea plans to increase its overseas stock allocation from 35.9% to 38.9% by the end of 2026, which translates to an additional investment of approximately $26.5 billion in overseas stocks next year [1][2] - NPS currently holds 67% of its overseas stock assets in the North American market, indicating a significant focus on this region despite global trends of capital withdrawal from U.S. assets due to political uncertainties [1][2] - The decision by NPS reflects a broader shift in Asian capital allocation strategies, as traditional views of the U.S. as a core asset are being challenged by geopolitical risks and the need for asset preservation [2] Group 2 - NPS's investment strategy emphasizes long-term returns over short-term political fluctuations, having achieved a record overall return of 15% last year, with overseas stock portfolio returns reaching 34.3%, significantly outperforming the MSCI global index (excluding Korea) by 18.4% [2] - The increasing overseas investments by NPS are contributing to greater volatility in the Korean won, as the fund is a major player in the Korean stock market, accounting for 15% of its market capitalization [2] - Market observers note that NPS's actions are indicative of a restructuring of capital allocation patterns in Asia, as investors seek new balances between geopolitical risks and the need for asset preservation in the current uncertain political and economic climate [2]