The Korea Scientists and Engineers Mutual-aid Association (SEMA) has appointed Sungmoo Huh, a former alternative investment and strategy head of Seoul-based Multi Asset Global Investments Co. Ltd., as its new chief investment officer for a two-year term.
On May 2, Huh succeeded Du Yeong Jeong who retired at the end of April after serving for extended four years as CIO, SEMA said.
At Multi Asset, formerly known as KDB Asset Management Co. Ltd., Huh had headed alternative investment and strategy divisions.
Previously, he had worked for domestic brokerage companies and asset management firms in charge of corporate banking, fund management and product sales.
SEMA, founded in 2003, manages 5.4 trillion won ($4.6 billion).
In the first three months of this year, it reported a provisional 6.8% return on investments, led by real estate assets which account for 32% of total investments.
Its 2018 investment return was 1.66%, hit by a 28% loss from equities.
By Hyunil Lee
<Edited by Yeonhee Kim>