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Global Fixed Income

The NPS invests in fixed income securities issued or guaranteed by foreign governments, central banks, or other competent authorities. Some portion of the fixed income investment is outsourced to external managers to boost returns and diversify risk by harnessing their expertise and experience.

Overview

(in trillion won, as of the end of Q1 in 2022)

Asset Value Of the Overseas Fixed-income 64.0, Weight in the Total Fund 6.9%, In-house Management Portion of the Overeas Fixed-income 47.4%

Overview (Unit: KRW in Trillion)
year In-house Total
2017 10.5 23.3
2018 10.8 26.6
2019 12.4 30.5
2020 21.1 44.9
2021 30.1 63.9
2022.1Q 30.3 64.0
Note:
1. Until a fund management assessment is completed, preliminary estimates are provided.
2. The figures above might not add up due to rounding.

Sector Composition

Overseas Fixed-income Portfolio Breakdown Sector Diagram(As of the end of  Q1. 2022) - 
					Issuer Type is Treasury :42.9%, Corporate : 26.8%, Gov-related: 16.5%, Securitized: 13.9%, Others: 0.0%,
					Geography is US 34.9%, Japan 15.3%, France 6.9%, China 6.5%, UK 5.0%, Italy 3.9%, Canada 3.7%, Spain 3.6%, Australia 2.8%, Germany 1.9%, Others 15.5%
Note : The figures above provide a breakdown per issuer type as of the end of each quarter and a breakdown per geography as of a fiscal year-end.

Top 10 Holdings

(in 100 million won, as of the end of 2020)
Overseas Fixed-income Top 10 list
No. Item Amount(Par Value) Weight Type
1 JGB 0.1 09/20/26 #344 2,489.69 0.55% Treasury
2 T 0 ⅝ 05/15/30 2,448.90 0.54% Treasury
3 T 0 ⅛ 07/31/22 2,177.40 0.48% Treasury
4 T 0 ⅛ 08/31/22 2,177.01 0.48% Treasury
5 FRTR 0 ¼ 11/25/26 1,959.83 0.43% Treasury
6 T 1 ⅛ 08/15/40 1,862.99 0.41% Treasury
7 CGB 1.99 04/09/25 1,639.83 0.36% Treasury
8 TF Float 04/30/22 1,502.21 0.33% Treasury
9 T 0 ½ 03/15/23 1,441.75 0.32% Treasury
10 UKT 1 ½ 07/22/47 1,416.31 0.31% Treasury
Note: Data on 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 Guideline for National Pension Fund Management and Article 39 of the Regulation on National Pension Fund Management.