Korea Post is looking to hire a consulting firm to provide investment advisory and administration services for its insurance unit’s foreign equity investments.
The firm will be responsible for establishing collective investment schemes or discretionary accounts for the investments, manager selection, performance and risk measurement, portfolio rebalancing, due diligence, and currency hedging.
The winning bidder will be appointed for a four-year term, the government postal agency says in a request for proposal on January 16.
Applicants must be locally registered firms with track records in institutional fund management and foreign equity advisory services.
Applications are open until January 31. The winning firm is expected to be chosen by the end of February.
Korea Post last sought an investment advisory firm in July 2022, which was for its insurance unit’s foreign bond investments. Like most Korean asset owners, the agency didn’t publicly announce the winning bidder of that tender.
Sejong-headquartered Korea Post, one of the most active Korean asset owners in outsourcing investments, has around 150 trillion won (US$121.2 billion) of assets under management.