RFP
Yellow Umbrella Mutual seeks Korea's bond managers for $550 mn mandate
By Jan 08, 2021 (Gmt+09:00)
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![Yellow Umbrella Mutual Aid Fund Chief Investment Officer Jeong Du-Yeong](https://www.kedglobal.com/data/ked/image/2021/01/07/ked202101070032.680x.9.jpg)
The Yellow Umbrella Mutual Aid Fund, a $12 billion savings arm for South Korea’s small business owners, is looking to mandate four domestic fixed income managers to invest a combined 600 billion won ($550 million) in global bonds.
It will receive proposals by Jan. 21 at 5 p.m. (Korean standard time), according to its request for proposal released on Jan. 7.
For the investment – which can be extended on a three-year basis – the mutual aid will employ either a buy and maintain strategy, or an active one.
When it comes to joint ventures, the fund is not allowed to include a JV established with a foreign company into their subportfolio, it said.
Qualified candidates should have a track record of global fixed income management for at least three years, with a minimum 10 billion won in global fixed income assets under management.
Write to Sangeun Lucia Lee at selee@hankyung.com
Yeonhee Kim edited this article.
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