As part of my ongoing series on ‘big funds you’ve never heard of,’ I’d like to draw your attention to — what else? — a big fund I wager you’ve never heard of.
Let’s get started ...
- This fund was established in 1984.
- Today it has roughly $8 billion in assets under management.
- The fund serves 170,000 members and its direct sponsor engages in “civic, social and fraternal activities.”
Any idea? No? So let’s keep going...
- The fund’s investment activities target both financial investments and a variety of construction and development related projects.
- The fund has, however, been shifting away from local investments (such as real estate) towards international and, in particular, emerging market investments.
- In 2008, the fund set up its own asset-management arm.
You know it? Here’s another set of clues:
- Based on 2011 data, roughly 80 percent of assets were domestic and the rest were spread between China, the US, the UK, Japan, Laos, India and Europe.
- According to the same data, 55 percent of the fund’s financial investments (i.e. excluding the real estate etc.) were in private equities, while the traditional stock and bond stuff accounted for only 45 percent.
Got it? One last clue.
- The fund’s named sponsor is still technically at war. For real.
That last clue should really have given it away. So, some of you out there, no doubt, now recognize this ‘big fund you’ve never heard of’ to be...
The South Korean Military Mutual Aid Association (and its asset management arm, the Mplus Asset Management Company).
Well that’s all for this installment of ‘big funds you’ve never heard of.’ Until next time...
