The NPS appeared to have wielded much of the power to stabilize the market this year, considering that its assets under management (AUM) account for the lion's share of the country’s entire pension fund AUM, and its asset allocation to stocks is far higher than that of other pension funds.“In a bearish market, the NPS typically increases its exposure to large-cap, high-volume stocks,” said Frism Investment Advisory Inc.CEO Hong Chun-uk.“Fund managers hired by the NPS appear to have actively cherry-picked blue-chip stocks that are less exposed to US tariff risk during market pullbacks.” CHIP, BIO, DEFENSE AND SHIPBUILDING STOCKS ARE TOP PICKS Korean pension funds gobbled up large-cap chip, bio, shipbuilding and defense stocks when they fell this month.
Pension funds also scooped up 130.1 billion won worth of Samsung Biologics Co., seen as less exposed to U.S.trade policies due to its European market focus, along with 110.6 billion won worth of Korea’s top shipbuilder HD Hyundai Heavy Industries Co.and 64.6 billion won worth of the country’s leading defense stock Hanwha Aerospace Co.
According to the Korea Exchange (KRX), Korean pension funds, led by the NPS, have made net purchases of 5.55 trillion won ($3.9 billion) in Korean stocks so far this year.They spent more than 1.5 trillion won per month in the first four months of this year, with the exception of March, when net buying dropped to 200.2 billion won.
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