South Korea’s Public Officials Benefit Association (POBA) is seeking to hire an asset manager for a domestic environmental, social and governance equity mandate, its second outsourced investment of the year.
The ESG investment will prioritise companies with strong governance improvement strategies, according to the pension fund’s request for proposal on July 15. The value of the mandate was not disclosed.
Applicants must have at least two years of experience managing Korean equities and have domestic equity funds valued at a minimum 100 billion won (US$72 million).
Applications close on July 24 and the winning bidder will be chosen by August 26.
POBA, a pension and welfare fund for around 250,000 local government employees, has around $17 billion of assets under management.
