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May 2023
AAM Magazine
May 2023
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Korea public officials fund seeks service providers for domestic equity investments

By Hui Ching-hoo   
March 29, 2023

South Korea’s Public Officials Benefit Association (POBA) is looking to hire a custodian bank, a fund administrator, and a performance evaluator for its domestic equity investments.

The firms will each be appointed for three years, the pension fund says in a request for proposal on March 27. The value of investments was not specified.

Financial institutions bidding on the tender must be locally registered and have at least six months of related track records.

Applications are open until April 5 and the three firms are expected to be chosen by May 8.

POBA, a pension and welfare fund for around 250,000 local government civil servants, had 18.99 trillion won (US$14.62 billion) of assets as of December 2021.