Korea Post’s savings unit plans to select two global stock managers for exchange-traded fund (ETF) investment around the end of September, and four other equity investment firms for value and dividend-seeking strategies around October.
It will receive proposals for the mandates by August 16 at 5 pm (Korean standard time), according to the request for proposal posted on its website on July 27.
It did not disclose how much it would allocate to the equity strategies.
For value and dividend stock investment, Korea Post will invest via managed accounts to be opened at Mirae Asset Global Investments Co. Ltd. or Korea Investment Management Co. Ltd., which advise its overseas stock investment.
For further details, click 1501146317553_EquityFundRFP_KoreaPostSavingsEnglish.docx.
ETF investment houses will be required to invest in US market-listed ETFs.
<Edited by Yeonhee Kim>