The National Pension Service (NPS) will pay the highest performance bonuses in five years to fund managers, Chosun Biz reported on July 3.

Health and Welfare Minister Park Neung-hoo presided over the NPS’s investment committee meeting on July 3, which confirmed last year’s investment return at 11.34%. It approved a performance-based payout to fund managers in the investment management department at 73.7% of their basic annual salary.

This is the highest payment rate over the last five years. This compares with 45.4% in 2018 and 58.4% in 2017. Prior to that, in 2015 and 2016, it was only in the 20% range, the report said.

Last year’s investment return of 11.34% translated into 73.4 trillion won ($61 billion) in proceeds, marking the most investment proceeds since 1999. The 2019 result was a turnaround from the negative 0.89% in 2018.

By asset class, global equities became the best-performing segment last year, logging a 31.64% return. Domestic stocks, domestic bonds and global bonds returned 12.46%, 3.55% and 12.05%, respectively. Return of alternatives was 9.82%. (Reporting by Kyoungho Lee)