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Korea’s SEMA opens tender for 250 billion won global multi-asset mandate

By Hui Ching-hoo   
January 20, 2022

Korea Scientists and Engineers Mutual-aid Association (SEMA) is looking to hire two local fund managers for a 250 billion won (US$209.7 million) global multi-asset mandate which may be structured as either a fund of funds or a discretionary account.

The mandate has a global tactical asset allocation strategy and the managers will primarily be responsible for choosing international sub-managers, performance evaluation and portfolio adjustment, SEMA says in a request for proposal on January 18.

Applicants must have experience managing collective investment schemes for multi assets, and have at least 1 trillion won of discretionary investment business.

Applications are open until February 3 and evaluation and manager selection is scheduled between February 15 and March 11.

This is only SEMA’s second tender in roughly two years. The last was in May 2020, when it sought bids for another global multi-asset mandate, valued at 500 billion won. Like many South Korean asset owners, SEMA rarely announces tender results publicly.

SEMA, which invests the pension contributions of more than 75,000 scientists and engineers, has around $6.2 billion of assets under management.