South Korea’s Government Employees Pension Service (GEPS) is seeking two asset managers for its first tender of the year, a 40 billion won (US$28.5 million) domestic equity mandate.
One manager will oversee the mandate’s high-dividend strategy and the other is for its general strategy, according to the pension fund’s request for proposal published on May 14.
Asset management firms bidding on the tender must have at least 10 billion won of total assets and a minimum one-year experience managing Korean equity funds. They must be registered in Korea.
Applications are open until May 23 and the winning bidders will be chosen by June 4.
GEPS, quasi-government body that provides pension services for civil servants, manages around 6.28 trillion won of assets for 1.25 million members.