Individual investors protesting at the entrace of the National Pension Service s headquarters in Jeonju on Mar. 4
The National Pension Service has bowed to pressure from retail investors to raise the upper limit for domestic stock purchases, after it was blamed for leading South Korean pension funds net selling of 15.5 trillion won ($14 billion) on the main bourse since the beginning of the year.
The NPS top decision-making committee passed a proposed readjustment of its asset allocation weighting on Apr. 9 to increase the upper ceiling of domestic stock holdings to 19.8% from the previous 18.8%. In other words, the band of its Korean stock holdings was widened to a range of 15.8-19.8% from the previous 14.8-18.8%.