Korea Post is seeking three foreign and Korean asset managers for a domestic bond fund of unspecified size under its insurance arm.
The managers will be appointed for a one-year term, the government postal agency says in a request for proposal on October 6. Foreign bidders are required to have South Korean-registered units.
Eligible applicants must have a minimum three-year track record in fixed income or multi-asset investing, and their bond or multi-asset funds should have more than 100 billion won (US$86 million) of total assets. They are also required to have in-house credit analysts.
Applications are open until October 20, and manager selection is scheduled to be carried out in December.
Korea Post had around $106 billion of total assets as of December 2019.