South Korea’s Scientists and Engineers Mutual-aid Association (SEMA) has opened a tender for a global equity mandate, its fourth outsourced investment of the year.
The investment will be structured as a fund of funds overseen by three asset managers, according to the group’s request for proposal on August 12. The value was not disclosed.
The fund of funds will invest in equity funds that are focused on the US as well as other developed countries and will be benchmarked against the MSCI World Index.
Applicants will need to have a minimum one year of experience managing foreign equity funds and at least 1 billion won (US$722,000) of overseas equity portfolios.
Applications close on August 22, with on-site evaluations scheduled between September and October.
SEMA manages pension contributions of more than 75,000 scientists and engineers, overseeing around $7.7 billion of assets.
