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Domestic Fixed Income
For the investment in domestic fixed income, we advocate to achieve extra returns with long-term stability mainly through a buy-and-hold strategy and diversified investment by type, issuer, industry (for corporate bonds) and maturity structure. In the process, we may adjust the duration within the pre-set range based on some factors including the credit of issuers and the spread from risk free bonds.
Overview
(Unit: KRW in Trillion, as of the end of Q4 in 2020)
Asset Value Of the Domestic Fixed-income 326.1, Weight in the Total Fund 39.1%, In-house Management Portion of the Domestic Fixed-income 86.4%
| year | In-house | Total |
|---|---|---|
| 2015 | 236.5 | 268.6 |
| 2016 | 245.4 | 279.3 |
| 2017 | 254.6 | 289.4 |
| 2018 | 273.1 | 311.0 |
| 2019 | 279.3 | 320.8 |
| 2020. Q3 | 281.8 | 326.1 |
Note: The figures above might not add up due to rounding. Until the fund management result is determined, only provisional data are provided.
Breakdown
(Unit : as of the end of Q4 in 2020)
- Government bonds (KTB) 42.5%
- Special purpose bonds 19.7%
- Corporate bonds 11.6%
- Municipal, Monetary stabilization, Financial bonds 12.7%
- Bank bonds 9.1%
- ABS, etc 4.4%
Note: Those detailed figures as of end of every quarter are presented.
Top 10 Holdings
(Unit: KRW 100 million, as of the end of 2019)| Issuer | Amount | Weight | |
|---|---|---|---|
| 1 | Government bonds (KTB) | 1,337,578 | 43.73% |
| 2 | Korea Housing Finance Corporation | 269,742 | 8.82% |
| 3 | Bank of Korea | 184,980 | 6.05% |
| 4 | Korea Lands and Housing Corporation | 89,562 | 2.93% |
| 5 | Korea Electric Power Corporation | 70,207 | 2.30% |
| 6 | Korea Development Bank | 32,512 | 1.06% |
| 7 | Nonghyup Bank | 31,973 | 1.05% |
| 8 | National Agricultural Cooperative Federation | 31,603 | 1.03% |
| 9 | Shinhan Bank | 28,350 | 0.93% |
| 10 | Korea Expressway Corporation | 26,304 | 0.86% |
Note: The data on the owned assets by sector, industry, issuer or type as of the end of the fiscal year is disclosed in the third quarter of the following
year according to Article 25 of the Fund Management Guideline and Article 39 of the Fund Management Regulations.