South Korea’s Public Officials Benefit Association (POBA) is looking to hire an asset manager for a domestic hedge fund mandate of unspecified value.
The manager will be responsible for performance measurement, risk analysis and portfolio construction, POBA says in a request for proposal published on the Korea Financial Investment Association’s website on November 17.
Applicants must have at least 50 billion won (US$42.3 million) of hedge fund assets.
The tender is open until November 30, with evaluation and manager selection scheduled by early January.
This is POBA’s third tender of 2021. It sought bids for a foreign equity mandate of unspecified value in June, and for a $400 million global multi-asset investment mandate in August. Like most Korean asset owners, POBA rarely announces tender results.
POBA, a pension and welfare fund for around 250,000 local government civil servants, had 16.4 trillion won of assets as of December 2020.