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Korea Post seeks bids for corporate bond ESG ETF mandate

Korea Post
By Hui Ching-hoo   
April 26, 2022

Korea Post has opened its third tender this month and the fifth for the year, seeking bids for an environmental, social and governance corporate bond exchange-traded fund mandate for its insurance unit from fund management firms with at least US$5 billion of total assets under management.

It will hire one or two managers for the mandate, which is benchmarked against the Bloomberg MSCI Global Corporate SRI Index, the government postal agency says in its request for proposal on April 22. The winning bidders may be domestic or foreign firms.

Korea Post did not disclose the value of the mandate.

Applicants must have a minimum three-year track record of managing foreign bond-type ETFs.

Applications are open until May 6 with evaluation and manager selection scheduled by the end of June.

Korea Post’s other tenders this month were for a $200 million offshore infrastructure debt mandate and a private equity mandate, also for $200 million.

It also sought bids for two domestic equity mandates of unspecified value earlier in the year. The postal agency, which doesn’t often name winning bidders, announced the hiring of KB Asset Management, Samsung Asset Management, Hanwha Asset Management and NH-Amundi Asset Management for one of the two tenders.

Korea Post has around 150 trillion won ($122.4 billion) of total assets.