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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials, Investment, Market

SKorea’s KIC says has gone underweight on euro assets

Posted on 25 June 2010

From Reuters: Korea Investment Authority, South Korea’s $35-billion sovereign wealth fund, has reduced exposure to euro zone equity and fixed income investments and is now underweight on assets in the region, the fund’s top official said on Thursday.
“We are very worried about what’s going on in Europe. I don’t think the austerity measures (adopted by some of the euro zone countries) will be enough. I think they will have to do some debt rescheduling,” said Scott Kalb, chief investment officer at the sovereign wealth fund known as KIC. Kalb spoke at a forum sponsored by The Korea Society……………………………………….Full Article: Source

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