In today’s briefing:
- NPS Confirms Reference Portfolio & Risky Assets Upweight: Implications for Value-Up Stocks
- Jusung Engineering: Announces Equity Spin Off + Physical Division Split
NPS Confirms Reference Portfolio & Risky Assets Upweight: Implications for Value-Up Stocks
- Today, NPS made the final decision to introduce a reference portfolio. The critical point is the increase in risky assets from 56% to 65%, also decided at today’s meeting.
- Initially, overseas equity was prioritized, but recent forecasts suggest significant potential in increasing local equity, aligning with the value-up policy.
- Monitoring NPS’s execution plan, including allocation and timing by asset class, is vital to gauge inflow size, especially for Value-up beneficiaries.
Jusung Engineering: Announces Equity Spin Off + Physical Division Split
- On 2 May, Jusung Engineering (036930 KS) announced an equity spin-off as well as a physical division split.
- We are negative on this combination of equity spin-off and physical division split of Jusung Engineering.
- After the two units are listed on 6 December 2024, it is likely that the semiconductor unit (Jusung Engineering Co) will rise while Jusung Holdings Co is likely to decline.
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