* http://english.yonhapnews.co.kr/business/2007/07/25/97/0502000000AEN20070725006900320F.HTML
S. Korea pension fund to entrust assets to foreign institutions SEOUL, July 25 (Yonhap)*-- South Korea's state pension fund said Wednesday it has agreed to entrust US$950 million of its assets to global investment firms to boost its returns on investments. The National Pension Service has struck deals to entrust $500 million to Morgan Stanley's investment division and $450 million to a Credit Suisse unit. Under the agreements, the pension agency plans to entrust the funds for three years. The agency also said it has clinched another deal to put another $1 billion under the World Bank's management. The service also said it has signed a memorandum of understanding to form strategic alliances with the Canada Pension Plan Investment Board and the Netherlands' ABP. The state agency has been attempting to hone its investment skills and boost its notoriously low investment returns, tallied at 5.77 percent last year. The service has been pushing to form strategic alliances with foreign institutions and raise the level of stock investment to improve the return on investment to 7.3 percent by 2012. [Non-text portions of this message have been removed]
