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.
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.