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July 2024
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July 2024
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Korea public officials’ fund seeks appraiser for foreign stocks

By Hui Ching-hoo   
June 14, 2024

South Korea’s Public Officials Benefit Association (POBA) has opened a tender for an asset manager to appraise the fund’s investments in foreign equities.

Applicants must have a minimum three-year track record in offering investment evaluation services to financial and government institutions with net asset value of at least 5 billion won (US$3.65 million), the pension and welfare fund for local government employees says in a request for proposal on June 12.

Applications are open until June 24 and the asset manager is expected to be appointed by July 24.

POBA has around $16 billion of assets, including 5% in equities, according to figures posted on the fund’s website. It does not give the breakdown between Korean and foreign equity holdings.