Korea Post is seeking a foreign asset manager for a global corporate bond mandate of unspecified value for its insurance unit.
The manager, who will be appointed for a two-year term, will be responsible for investing in US and emerging-market corporate bonds, the government postal agency says in a statement on August 6.
The mandate is benchmarked against the JP Morgan CEMBI Broad Diversified IG Index and Bloomberg Barclays US Corporate Index.
Eligible applicants must have at least three years of experience in global bond investing, and oversee a global debt portfolio of no less than US$500 million, including $200 million in emerging-market corporate bonds.
Applications are open until August 19, and manager selection is scheduled for October.
The manager who wins the mandate will have to set up an account with Shinhan BNP Paribas Asset Management, the bond investment adviser for Korea Post’s insurance unit.
Korea Post had around $106 billion of total assets at the end of 2019.