South Korea’s NH NongHyup Bank is seeking proposals from local fund managers to oversee a pool of entrusted assets valued at 180 billion won (US$151.5 million).
The mandate comprises 30 billion won of equity investments, 50 billion won of mixed strategies, and 100 billion won of bond investments, the bank says in a request for proposal published on the website of the Korea Financial Investment Association on January 17.
It will select one manager, who will be appointed for a one-year term.
Applications are open until January 22. The bank, which has hired local fund consulting firm KG Zeroin as adviser for the mandate, didn’t provide details of the timeline for evaluation and manager selection.
NH NongHyup Bank, one of Korea’s largest agricultural banks, operates ten branches across eight countries, including the US, China and Vietnam.