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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 Q4 in 2023)
Overview

Asset Value Of the Overseas Fixed-income 73.7, Weight in the Total Fund 7.5%, In-house Management Portion of the Overeas Fixed-income 51.0%

Overview (Unit: KRW in Trillion)
year In-house Total
2018 10.8 26.6
2019 12.4 30.5
2020 21.1 44.9
2021 30.1 63.9
2022 30.5 63.3
2023. 4Q 37.6 73.7
Note:
  • Until a fund management assessment is completed, preliminary estimates are provided.
  • The figures above might not add up due to rounding.

Sector Composition

Overseas Fixed-income Portfolio Breakdown Sector Diagram(As of the end of  Q4. 2023)- 
					Issuer Type is Treasury :43.4%, Corporate : 29.5%, Gov-related: 13.2%, Securitized: 13.9%, Others: 0.0%,
					Geography is US :41.3%, Japan:11.6%, China:7.2%, France:5.7%, Germany:5.3%, UK:4.6%, Canada:4.3%, Australia:2.0%, Spain:2.0%, Others:16.0%
Note:
  • The figures above provide a composition by issuer type as of the end of each quarter.
  • Data on assets by sector, geography, 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.
  • The figures above might not add up due to rounding.

Top10 Holdings

(in 100 million won, as of the end of 2022)
Top10 Holdings list
No. Item Amount Weight Type
1 T 1 ¾ 05/15/23 3,519 0.6% Treasury
2 T 3 ½ 09/15/25 3,515 0.6% Treasury
3 T 3 ⅛ 08/15/25 2,398 0.4% Treasury
4 T 2 ¾ 04/30/27 2,294 0.4% Treasury
5 T 2 ⅞ 04/30/29 2,267 0.4% Treasury
6 T 2 ⅜ 02/15/42 2,233 0.4% Treasury
7 BKO 0.2 06/14/24 2,226 0.4% Treasury
8 OBL 0 10/13/23 #178 2,178 0.3% Treasury
9 FNCL 4 1/23 2,178 0.3% Securitized
10 JGB0.005 06/20/26 #148 2,107 0.3% Treasury
Note:

Data on assets by sector, geography, 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.