Korea Post has hired five asset managers from the US, UK and France for a global fixed income mandate.
The firms are Pacific Investment Management Company and Goldman Sachs Asset Management from the US, RBC BlueBay Asset Management and Insight Investment from the UK, and French investment firm Amundi.
Korea Post announced the appointments on its website on December 23. The mandate is for its insurance unit. The value was not specified. It’s not clear when the mandate was put up for tender.
Korea Post is one of the most prolific among Korean asset owners in outsourcing investments, with more than ten mandates tendered out this year in both mainstream and alternative asset classes.
It doesn’t often announce tender results publicly.
Sejong-based Korea Post has around 150 trillion won ($107 billion) of assets under management.
