Korea Post is seeking two asset managers for its fifth tender of the year, this time for a domestic equity mandate for its insurance unit.
The investment will be benchmarked against the KOSPI Total Return Index, according to Korea Post’s request for proposal published on May 7. The value of the mandate was not disclosed.
Asset managers bidding on the tender must oversee Korean equity fund portfolios with a minimum net value of 50 billion won (US$35.7 million).
Applications are open until May 20 and Korea Post will evaluate the applicants next month.
The postal agency’s other tenders this year were for a hedge fund, domestic property fund, domestic private debt, and fund evaluation services mandates.
Korea Post has around 150 trillion won of assets under management.