Korean sovereign fund eyes stock switch
South Korea's sovereign wealth fund is to raise its equity allocation by 25%, it emerged Tuesday.
"We think it's unlikely that bonds are going to continue to outperform stocks from here over the long term," Scott Kalb, Korea Investment Corporation's (KIC) chief investment officer told Bloomberg, a newswire. "We're moving more towards equity."
Bloomberg reported that the fund would increase its equities holdings from 40% to 50% of its basket of "traditional" investments by the end of 2009. With
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