The Private School Teachers' Pension Service (hereinafter referred to as PSTPS) announced on the 21st that it achieved an annual return of 22.6% (as of December 20), an increase of about 36 percentage points (p) compared to the end of the previous year, by switching to a process of directly selecting overseas asset managers in accordance with the new fund management director system for overseas equity delegated management.
The existing overseas equity delegated management method was an operation system that achieved returns by utilizing the ability of domestic asset managers to select overseas asset managers. However, from this year, by introducing a process of directly selecting overseas asset managers, PSTPS has strengthened its role and responsibility.
To increase the possibility of selecting overseas asset managers that align with the investment philosophy of achieving stable fund management returns, a quantitative evaluation system was introduced that uses indicators to evaluate not only management performance but also management stability in the quantitative evaluation, minimizing the deviation from market returns.
Since PSTPS directly selected overseas asset managers for the first time since conducting overseas equity delegated management, it plans to focus not only on management performance but also on risk management through active performance monitoring and position analysis in the future.
Chairman Song Hajung said, “As the proportion of overseas investment expands and market volatility increases due to recent changes in the base interest rate outlook, achieving stable returns is becoming more important.” He added, “We will continue to do our best to stabilize finances through the growth of fund size.”
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