KIC Stalled by COVID and AUM Growth on Increasing Proportion to Alternative Investments
Posted on 10/19/2020
According to information disclosed during a South Korean parliamentary audit, the Korea Investment Corporation (KIC) had US$ 24.5 billion in assets under management in alternative investments, which includes private equity, hedge funds, and real estate. The KIC had a lower percentage allocated to alternative investments, which was at 15.6% of assets at the end of 2019. KIC’s CEO Choi Hee-nam, which was appointed in 2018, revealed plans to raise the allocation to alternative assets to 19% by 2020. Keep in mind, the KIC is managing more assets under management in total. According to that government data, at August 2020, the percentage to alternative assets dropped to 15.3%.