Korea Securities Depositary KSD has selected the Bank of New York to administer its securities lending programme. This programme will involve the offshore securities owned by the National Pension Corporation NPC, the world's eighth largest pension fund.
NPC is a non-profit corporation established by the Korean Ministry of Health and Welfare in 1988 to address social welfare and security reforms. It was recently awarded the title institutional investor of 2005 by AsianInvestor magazine, to highlight its transparent practices in the management of its funds.
We were seeking to optimize portfolio performance and generate incremental revenue through our securities lending programme, says NPC's CIO...
