National Pension Fund Operator
The Ministry of Strategy & Finance selected Korea Investment Management on December 12 as the preferred bidder for the selection of an asset management firm to run the national pension fund that totals five trillion won (US$4.5 billion). The title is scheduled to be given within this month after additional negotiations, and then Korea Investment Management runs the fund for four years to come.
In its presentation, Korea Investment Management recorded high points in terms of fund management know-how, fee, etc. This company has run the fund with Samsung Asset Management since 2012 and had a fund under management of 5.0174 trillion won as of the end of October this year.
Mirae Asset Global Investments, in the meantime, outperformed Korea Investment Management in quantitative evaluation but the latter surpassed the former in the aspects including internal system management and control, investment pool management planning and fund management capabilities to record a higher total point. Korea Investment Management equipped itself with a national pension fund management system in 2012 by investing three billion won.
Korea Investment Management suggested the lowest fund management fee, too. Back in 2012, the company proposed a fee of 6.3 bp. The fee proposed at this time is said to be lower than that.