Korea Post is seeking four asset managers who are compliant with environment, social and governance standards for a domestic fixed income mandate, marking the government postal agency’s seventh outsourced investment this year.
The firms will be appointed for up to a year, according to Korea Post’s request for proposal on June 19. The value of the mandate was not disclosed.
Asset management firms bidding on the tender must have a minimum three years of experience managing a corporate bond fund with at least 10 billion won (US$7.29 million) of assets.
Their total fund assets must also be no less than 100 billion won with 60% allocated to bonds. Foreign applicants are required to have a local office in Korea.
The application deadline is July 2 and the winning bidders will be announced in mid-July.
Korea Post has around 150 trillion won of assets under management.
