Korea Teachers’ Pension seeks adviser for foreign bond investments

South Korea’s pension fund for teachers is looking to hire an asset management firm to provide advisory and investment administration services for its foreign bond investments.

The firm will be responsible for selecting managers and creating discretionary accounts for the Teachers’ Pension’s overseas bond mandates.

It will also be required to provide training on bond management to the fund’s internal staff, the Teachers’ Pension says in a request for proposal on January 30.

Bidders must be locally registered fund houses with a minimum 10 billion won (US$7.5 million) of assets under management, including at least 60% allocated to foreign bonds.

Local investment consulting firm KG Zeroin has been appointed to evaluate applicants.

Applications are open until February 7 and the winning bidder will be chosen by February 27. The appointment is for three years.

The Teachers’ Pension manages around 20 trillion won of assets for 400,000 current and retired private school staff.