‘Investment Areas and Targets to be Diversified to Overcome Low-Interest,Low-Growth’
New NPSIM CIO Ahn ‘plans to establish direction of investments and investment philosophy on same wavelength of direction of government policies such as the stewardship code’
Chairman Kim Sung-joo presents a certificate of appointment to CIO Ahn Hyo-joo of the National Pension Service Investment Management (NPSIM). (Photo: NPS)
CEO Ahn Hyo-joon of BNK Global Group has been appointed chief investment officer (CIO) of the National Pension Service Investment Management (NPSIM), filling a 15-month vacancy left by his predecessor, Kang Myoun-wook.
New CIO Ahn has a heap of tasks ahead of him. On top of the sluggish domestic stock market, the National Pension Fund is struggling with a drop in returns on domestic stock investments. An increasing number of fund managers have been leaving the NPSIM since February 2017 when the National Pension Service relocated from Seoul to Jeonju.
The introduction of a “stewardship code” may make new CIO Ahn feel more responsibility on his shoulders. The stewardship code refers to a set of principles or guidelines aimed at making institutional investors, who manage other people's money, be active and engage in corporate governance in the interests of their beneficiaries.
CIO Ahn said in a recent interview, “I’ll be more aggressive in diversifying investment areas and investment targets to overcome low-interest and low-growth trends.”
Ahn said he gave serious consideration into what social justice is and he was well aware of the duties given to him as CIO. “I plan to establish the direction of investments and investment philosophy on the same wavelength of the direction of government policies such as the stewardship code,” he was quoted as saying.
Ahn is evaluated to have the right stuff to expand the National Pension Fund’s overseas investment portfolio. He has profound experience in foreign investment & securities and asset management companies.
The state pension fund plans to boost the portion of its investments in foreign stock markets from the current 17.7 percent to about 30 percent by 2023.
The fund’s alternative investments will be increased with a focus on overseas investment targets. This move is the reason why many people inside and outside the financial investment circles have suggested an expert with global financial experiences should be in charge of managing the fund ahead of the appointment of the CIO.
It is fortunate that a candidate with global asset management experience has be appointed CIO, said the CEO of an asset management company entrusted with money from the NPS.
Given the rising voices in the financial industry that a foreign CIO needs to be recruited to expand global investments, Ahn’s experience in foreign investment & securities and asset management firms are expected to play an essential role in his appointment as new CIO.
Expanding overseas investment portfolio is a long-term task that new CIO Ahn will have to cope with.
His short-term task is to increase the ROI on domestic stock investments.
The National Pension Fund (NPF) suffered a setback: The cumulative ROI rate on domestic stocks stood at a minus 6.11 percent, or more than 7 trillion won in losses, during the first seven months of this year.
New NPSIM CIO Ahn started his financial career as an analyst with Seoul Investment & Securities, the predecessor of Eugene Investment & Securities and served as head of the firm’s New York branch and overseas management team. He then expanded his global financial experience as he had stints with global companies such as ANZ Funds Management and BEA Union Investment Management.
Ahn’s NPSIM CIO is his second stint with the National Pension Service (NPS). In 2011, he served as head of NPSIM’s domestic equity division before moving to CEO of Kyobo AXA Investment Managers, a joint venture between Koyo Life Insurance and AXA Investment Managers. He also worked at Daewoo Securities and Daiwa Securities.
CIO Ahn is the 8th CIO of NPSIM since its inception in 1999 and the ninth executive fund director. His term is a two-year one, and his term can be extended an additional one year, depending on his achievements.
국민연금공단 신임 기금운용본부장에 안효준씨 임명
국민연금공단(이사장 김성주)은 신임 기금운용본부장(기금이사)에 안효준 前 BNK금융지주 사장을 임명했다고 8일 발표
국민연금공단(이사장 김성주, 우측)은 신임 기금운용본부장(기금이사, 좌측)에 안효준 前 BNK금융지주 사장을 임명했다고 8일 발표했다.
신임 기금이사는 기금이사추천위원회의 서류·면접심사와 전문 조사기관의 경력 및 평판조사 등 엄격한 심사를 거쳐, 김성주 이사장은 오늘 기금이사 후보자로 안효준씨를 추천하여 보건복지부장관의 승인을 받았다.
김성주 이사장은 안 신임 기금이사의 전문성·글로벌 역량·국민연금 기금에 대한 이해 등을 높이 평가하여, 643조 원이 넘는 국민연금 기금을 안정적으로 운용할 적임자로 판단하였다.
안 신임 기금이사는 국내외 증권사와 자산운용사 등에서 국내외 주식 및 채권, 대체투자, 헤지펀드, 인덱스 등에 대한 다양하고 깊이 있는 투자경험이 있고, 홍콩, 뉴욕, 호주 등 18년간의 풍부한 해외 근무경험이 있어 글로벌 투자 감각과 영어구사 능력도 뛰어나며,국민연금공단 주식운용실장 및 해외증권실장으로 근무하여 공적연금인 국민연금 기금운용에 대한 이해가 높은것으로 판단하였다.
아울러, 안효준 신임 기금이사 임명장 수여식에서 김성주 국민연금공단 이사장은 “폭 넓은 후보를 대상으로 공정한 심사와 엄격한 검증을 거쳐 가장 적합한 인물을 선정하였다”며,“‘삼성합병’ 같은 사태가 다시는 발생하지 않도록 기금이 정치권력과 경제권력의 간섭에서 벗어나야 하며, 신임 기금이사는 전문성을 갖고 독립적으로 기금을 운용할 최적의 적임자라 판단하였고,일부에서 우려하는 막강한 권한을 가진 ‘자본시장 대통령’이 아니라 국민의 머슴이자 집사로서 수탁자의 책임을 충실하게 수행해 줄 것이라 믿는다”고 하였다.
안 신임 기금이사는 김성주 국민연금공단 이사장으로부터 10월 8일 임명장을 수여받은 즉시 업무를 시작하였다.