South Korea’s NongHyup Life Insurance has opened a tender seeking several local asset management firms to manage its investments in Korean stocks and bonds.
The insurer issued a request for proposal November 11 without specifying the value of the investments or the number of firms it plans to hire.
Asset managers bidding on the tender must have a minimum 50 billion won (US$20.4 million) of bond assets and at least 30 billion won of equity assets. They must also have a minimum three-year investment track record.
The tender closes on November 20 and the applicants will be evaluated by local investment consulting firm KG Zeroin.
NongHyup Life provides financial and insurance services for farmers and rural communities.
