Korea Post’s savings unit announced a request for proposal on August 17 to select three asset management houses that will be in charge of setting up separately managed, offshore accounts to invest in debt tranches of collateralized loan obligations (CLOs).
The postal service agency did not disclose how much it would allocate to the newly-selected CLO managers which will be required to benchmark JP Morgan CLO Index or a compatible index.
Qualified candidates must have at least $10 billion of AUM, with a minimum $5 billion worth of CLO issuance.
Proposal should be submitted by September 1, 2016, 6 p.m. (Korean time)
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