Key Takeaways
- • Korea Post has appointed five asset managers from the US, UK and France to a global fixed income mandate for its insurance unit, per its website announcement on December 23.
- • Appointed firms are Pacific Investment Management Company and Goldman Sachs Asset Management (US), RBC BlueBay Asset Management and Insight Investment (UK), and Amundi (France).
- • The mandate value was not disclosed, and the source does not say when the mandate was put out to tender.
- • Sejong-based Korea Post manages around 150 trillion won ($107 billion) in assets and is one of the most prolific Korean asset owners in outsourcing, with more than ten mandates tendered this year across traditional and alternative asset classes.
Summary
Korea Post has hired five asset managers from the United States, United Kingdom and France for a global fixed income mandate, according to an announcement the fund posted on its website on December 23. The appointed firms are Pacific Investment Management Company and Goldman Sachs Asset Management from the US, RBC BlueBay Asset Management and Insight Investment from the UK, and the French firm Amundi. The mandate is for Korea Post's insurance unit. The value of the mandate was not specified, and it is not clear when it was put out to tender.
Sejong-based Korea Post has around 150 trillion won ($107 billion) of assets under management. The source describes the fund as one of the most prolific Korean asset owners in outsourcing investments, with more than ten mandates tendered this year in both mainstream and alternative asset classes. This makes the global fixed income award one part of a broader outsourcing program.
The disclosure is notable because Korea Post does not often announce tender results publicly. The announcement gives allocators and asset managers a rare view into the selection of global bond managers by a large Korean institutional investor, though the absence of a stated mandate size limits any assessment of its scale.
Sejong-based Korea Post has around 150 trillion won ($107 billion) of assets under management. The source describes the fund as one of the most prolific Korean asset owners in outsourcing investments, with more than ten mandates tendered this year in both mainstream and alternative asset classes. This makes the global fixed income award one part of a broader outsourcing program.
The disclosure is notable because Korea Post does not often announce tender results publicly. The announcement gives allocators and asset managers a rare view into the selection of global bond managers by a large Korean institutional investor, though the absence of a stated mandate size limits any assessment of its scale.
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