Korea Post has appointed local asset manager Mirae Global Asset Investments for an overseas hedge fund mandate, five weeks after putting it up for tender.
The government postal agency announced the appointment on its website on June 2.
The hedge fund has an initial investment target of 500 billion won (US$368 million).
Korea Post is one of the country’s most active asset owners in outsourcing investments, with six tenders already opened thus far this year. The tender for the hedge fund mandate was opened on April 28.
The postal agency has around 150 trillion won of assets under management.
