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Korea Post seeks discretionary managers for foreign alternatives

Korea Post
By Hui Ching-hoo   
February 17, 2021

Korea Post is looking to hire two domestic discretionary managers for its existing foreign alternatives investments.

The managers will help set up dedicated investment vehicles and collaborate with advisory and research organisations to support Korea Post’s global alternatives investments, including real estate and infrastructure, the government postal agency says in a request for proposal on February 15.

They will also be responsible for execution, distribution, currency hedging, and reporting for the alternatives mandates.

The managers will be appointed for three-year terms. Applicants must be locally registered financial institutions.

Applications are open until March 2 and manager selection is scheduled for April.

Korea Post has been raising its foreign alternatives investments in recent years as it searches for better returns amid low interest rates. Its ten-plus investment mandates in 2020 were a combination of mainstream and various classes of alternatives, such as foreign infrastructure, hedge funds and venture capital.

According to Korea Post’s 2019 annual report, around 6% of its US$106 billion of total assets at the end of that year was in alternatives.

The postal agency had around $121.8 billion of total assets as of end-2020 but data on the share in alternatives has not been released yet.