South Korea’s Government Employees Pension Service (GEPS) is looking for three asset managers for a 300 billion won (US$258 million) active global equity mandate structured as a discretionary fund.
The tender is open to Korean fund houses and international managers with offices in Korea, GEPS says in a request for proposal on October 25.
Applicants must have a minimum three-year track record managing foreign stocks, global equity funds, and global equity exchange-traded funds. Their global equity fund portfolios must be worth at least 10 billion won.
Applications are open until November 19, with due diligence and manager selection scheduled by December 16.
GEPS, a quasi-government body that provides pension services for civil servants, manages around $10 billion of total assets for 1.25 million members currently.