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Labor ministry seeks OCIO Ministry to select one manager to outsource management of alternative investments

Translated by Kim So-in 공개 2021-07-06 08:00:19

이 기사는 2021년 07월 06일 07:58 더벨 유료페이지에 표출된 기사입니다.

South Korea’s Ministry of Employment and Labor is looking for an outsourced chief investment officer (OCIO) to manage alternative investments of its employment promotion and vocational rehabilitation fund for disabilities (employment fund for disabilities) and wage claim guarantee fund.

The ministry is currently searching for an OCIO for the two funds, according to sources Friday. The ministry plans to select either a securities firm or an asset management firm to manage the funds' alternative investments for five years from October 2021 to September 2025.

Based on the mid- to long-term target asset allocation (2021-2025), the ministry will allocate around 10% of the funds' total assets to alternative investments, which is likely to be around 200 billion won ($177 million) in 2025.

A selected manager will manage alternative assets at home and abroad, including real estates, infrastructure, private equity, and venture capital.

The manager will be in charge of all aspects of the investment stage and follow-up management, including investment-related tasks such as establishment of an alternative assets allocation plan and discovery and selection of new products, and post-management of previously invested alternative investment products, such as funds, foreign exchange hedging, and reporting.

Proposals are due on July 16 and final selection is expected to be made in September among four brokers and four asset managers. The selected manager will start managing the funds from October.

Formed in 1988, the wage claim guarantee fund had 679.8 billion won in assets under management of as of the end of 2020, while the employment fund for disabilities had 1.06 trillion won. (Reporting by Hee-yeon Han)
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