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Korea Post opens tender for socially responsible bond mandate

Korea Post
By Hui Ching-hoo   
April 21, 2021

Korea Post is looking to hire three local and foreign fund managers for a socially responsible bond mandate of unspecified value for its insurance unit.

Each of them will be hired for one-year terms, the government postal agency says in a statement on April 20.

The tender comes two months after Korea Post sought bids for four fund managers for its first ever socially responsible domestic equity mandate. Like most other Korean asset managers, it didn’t publicly name the winners.

Applicants for the new tender must have at least three years of experience managing bond funds, and oversee a minimum 10 billion won (US$9 million) of fixed income assets. They must also have at least one credit analyst and one manager dedicated to environmental, social and governance strategy and research.

Foreign applicants are required to have local partnership with Korean financial institutions.

Applications are open until May 7 and evaluation and manager selection are scheduled to be carried out between May 10 and June 21.

Korea Post had around 134 trillion won of total assets at the end of 2020.