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[RFP] Korea scientists fund to pick $120 mn multi-asset SMA manager

Oct 25, 2017 (Gmt+09:00)

Korea Scientists and Engineers Mutual-aid Association (SEMA) is planning to allocate around $120 million to a separately managed account (SMA) of multi-asset strategy, according to its request for proposal announced on Oct. 23.


For the allocation aimed at sharing market information on global portfolios and exploring co-investment opportunities, SEMA will receive proposals by Nov. 7 and select one management firm later in December.


Its targeted net return is the one-year US LIBOR plus 4.25% for a five-year investment period.


Qualified management firms must have at least $100 billion AUM with experience in SMA and fund management based on multi-asset strategy.


SEMA will give a selected manager the leeway on specific asset allocations as long as it meets the composition guidelines: equities of at least 20%; fixed-income between 20% and 40%; and alternatives of at least 20%.


The RFP came after the $3.7 billion retirement fund decided to commit $60 million to two private debt fund managers in its first allocation to global private debt funds.


In June, Public Officials Benefit Association solicited bids for global SMA managers to invest around $200 million in mezzanine debt, after it had invested about 330 billion won in European real estate via an SMA.

Yeonhee Kim edited this article

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