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Korea Post calls bids for domestic equity fund mandate

Korea Post
By Hui Ching-hoo   
March 1, 2022

Korea Post is seeking four local and foreign asset managers for a domestic equity fund mandate of unspecified value in its first tender of 2022.

Each manager will be appointed for a one-year term, the government postal agency says in a request for proposal on February 24. The mandate is benchmarked against the KOSPI Total Return Index.

Applicants must have at least three years of experience managing Korea equity funds, which must have a minimum 50 billion won (US$41.4 million) of total assets.

Applications are open until March 11, with evaluation and manager selection scheduled between March 14 and April 12.

Korea Post’s most recent tender was for a 200 million euro ($223.78 million) offshore real estate mandate last November, which it awarded to US asset management giant Blackstone Inc and UK real estate investment firm Tristan Capital Partners on February 3.

Korea Post had around 134 trillion won of assets under management as of end-2020.