SEOUL—South Korea's National Pension Service, the world's fifth-largest pension fund, will invest $400 million in the Asian and Australian real-estate markets in its latest move to boost its overseas exposure.
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The official declined to elaborate on the types of properties the fund will invest in, apart from saying it will invest mainly in Australia, China and Japan.
I like the use of the word "exposure". Of course, as the article says, they are trying to diversify out of domestic bonds. Not a bad idea on the face of it. So much money out there with no place to go.
This will hold off the declines for a while, and spread the pain later.
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