South Korea’s Shinhan BNP Paribas Asset Management is inviting third-party managers to bid on a 100 billion won (US$903.4 million) absolute return bond mandate.
The company will hire two managers, who will be responsible for investments in Asia US dollar-denominated investment grade bonds, according to its request for proposal published on the website of the Korea Financial Investment Association on December 21.
At least 80% will be allocated to sovereign and quasi-sovereign bonds, and up to 20% to corporate debt.
Applicants must have a minimum five-year track record in Asia dollar bond investment. They must have at least $5 billion of total fixed income assets, including $1 billion in Asia dollar bonds.