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Korea Post plans $87 mn US fixed income investment

Oct 15, 2020 (Gmt+09:00)

Korea Post’s insurance arm is planning to select two asset management companies for around 100 billion won ($87.4 million) in US fixed-income investments, its official said on Oct. 15.

The state agency will receive proposals for the investment in Korean via its global fixed income advisor Shinhan BNP Paribas Asset Management by 6 p.m. Seoul time Oct. 27, according to its request for proposals issued on Oct. 14. 

Under the mandate, each of the selected global fixed income managers will be required to set up a separately managed account with Shinhan BNP Paribas.

Its second-phase evaluation will be conducted in Korean, with the final selection due for December. It will benchmark Bloomberg Barclays US Corporate Total Return Value Unhedged USD for the evaluation.

Qualified management companies must have a track record of at least three years and manage over $1 billion in assets for US corporate fixed-income investments, along with over $5 billion in total assets under management.

By Sang-eun Lucia Lee

Yeonhee Kim edited this article.