KIC to use three FTSE indices
14 June 2011
News, Global, Korea, USA
The Korea Investment Corporation is adopting three of FTSE’s indexes for its global investment programme. In a statement, FTSE says that the Korean sovereign wealth fund will be using the indexes to benchmark part of its global portfolios.
These indexes are non market-cap weighted. No mention was made of the underlying region or asset classes for which the indexes are to be used.
The KIC, which opened an office in New York in July 2010, reported assets under management of about US$37 billion at the end of December 2010.
According to the statement, the KIC expects to implement a combination of these new strategies this year. FTSE says that it has introduced non market-cap weighted indexes to the retail market in Korea. KIC is the first local institutional investor to adopt these strategies.
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