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S.Korea's pension fund to adjust rules to raise domestic equity allocation

SEOUL, April 9 (Reuters) - South Korea’s health minister said on Friday the National Pension Service (NPS), the world’s third-largest pension fund, will adjust rules to raise domestic stock allocation.

“The NPS raised the proportion of strategic asset distribution limit for domestic equity allocation from the current 2.0 percentage points to 3.0 percentage points,” Health and Welfare Minister Kwon Deok-cheol told a meeting.

Under the new rule, the portion of its domestic stock purchases will be raised to a range of 13.8%-19.8% of the total assets, from the current band of 14.8%-18.8%. (Reporting by Jihoon Lee, Joori Roh; Editing by Alex Richardson)

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