South Korea’s state pension fund posted an investment return of over 6% in the January-November period last year after robust performances in domestic and overseas stock markets, its operator said on Friday (January 29).

National Pension Service (NPS) said the fund recorded a 6.49% investment return at the end of November, and registered a 20.38% investment return from the local stock market and a yield of 8.36% from investments in overseas stocks.

Investments in domestic and foreign bonds returned 1.92% and minus 0.34% respectively, while the yield for alternative asset investments came to 0.65%.

“The NPS was able to log robust profits since domestic and global stock markets began to show recovery from the third quarter as Covid-19 vaccines brought expectation for a global economic recovery and economic policy uncertainty decreased after the U.S. presidential election,” the operator said.

The NPS is one of the world’s leading pension funds, with assets under management reaching 807 trillion won as of end-November.

South Korea’s stock market has been bullish in recent months on hopes of an economic rebound from the Covid-19 pandemic.

The benchmark Korea Composite Stock Price Index mounted the 3,000-point plateau on January 26, after landing in the 2,000-point range in 2007, supported by a wave of investor optimism. (Reporting by Capital Connect staff)