Sahak Yeongeum Finalizes Selection of 5 New Domestic Equity Mandated Asset Management Firms

[Asia Economy Reporter Minji Lee] The Private School Teachers' Pension Service (hereinafter referred to as the Private School Pension) announced on the 28th that it has selected the final five entrusted institutions for the 'Domestic Equity Mandate Managers' selection process, which had been underway since the 18th of last month.

The final entrusted managers for the Private School Pension's domestic equity mandates are Mirae Asset Global Investments, Shinhan BNP Paribas Asset Management, and HDC Asset Management for the growth type, and Midas Asset Management and Woori Asset Management (socially responsible investment type) for the socially responsible investment type.

A total of 31 institutions participated in the Private School Pension's 'Domestic Equity Mandate Managers' selection process (20 for growth type, 11 for socially responsible investment type). After the first quantitative evaluation, three times the number of institutions were shortlisted (9 for growth type, 6 for socially responsible investment type). Subsequently, after non-face-to-face due diligence and presentation evaluations, the final selection was made with 3 growth type and 2 socially responsible investment type institutions.

Lee Gyu-hong, CIO of the Private School Pension, stated, "Through the selection of new entrusted managers, we plan to build a high-quality portfolio to enhance mid- to long-term operational performance," adding, "We will fulfill the social responsibilities of public institutions with an investment strategy that actively responds to government policies through proactive socially responsible investment."

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