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Korea’s Teachers’ Pension opens tender for domestic equity mandate

Teachers’ Pension
By Hui Ching-hoo   
May 11, 2021

South Korea’s pension fund for private school teachers is looking to hire three or four local fund managers for its first tender of 2021, a domestic equity mandate comprising socially responsible, growth, and index strategies that it hopes will help generate stable portfolio performance.

Applicants must have at least 200 billion won (US$180 million) of domestic equity assets, the Teachers’ Pension says in a statement on May 7. It did not specify the value of the mandate.

Fund managers bidding for the socially responsible strategies must have a minimum three-year track record in sustainable investments.

Applicants for the index strategies are required to have at least one year of experience in the strategy, and a minimum 10 billion won of assets in their index funds.

“The selection of the socially responsible, growth-type and index-type managers is aimed at establishing a portfolio that can generate stable operational performance in the mid to long term,” Teachers’ Pension Chairman Myung-Hyun Joon says in the statement.

Applications are open until May 13, with evaluation and manager selection scheduled to be carried out by mid-June.

Last year, the pension fund called bids for a 150 billion won domestic private equity mandate in February, and a 100 billion won socially responsible and growth style domestic equity mandate in November.

Teachers’ Pension now manages around 23 trillion won of assets for 330,000 current and retired school staff.