Retail money is chasing growth in U.S. technology shares, while the National Pension Service is partnering with firms including Sequoia and a16z for more diversified long-term returns.
South Korean capital is continuing to move into U.S. markets, with the value of U.S. equities held by South Korean retail investors surpassing $206 billion. The same shift is also showing up in institutional allocation: the National Pension Service has begun working with Silicon Valley investment firms including Sequoia and a16z. The moves point to a common constraint at home — a relatively limited domestic market — while individual investors seek growth through technology stocks and the pension fund looks for broader long-term returns through diversification.