South Korea’s largest pension fund removed its cap on currency hedging last month, allowing it to exercise more heft in the foreign exchange market at a time of won weakness.

The National Pension Service, which manages about 1,610.4 trillion won ($1.08 trillion), said in April that a 15% ceiling on forex hedging for its foreign investments is now a baseline. The change lets it smooth out volatility in the currency market caused by its capital outflow.