Korea NPC moves closer to offshore investment

A consulting mandate is expected by the end of October, although international custodians will lose out of the trustee work.

South Korea's National Pension Corporation, the manager of Korea's $53 billion national pension system, intends to select an investment consultant by the end of this month, to be quickly followed by choosing a trustee, a custodian and investment managers, according to people familiar with NPC.

Four investment consultants are in the race, with Frank Russell and Watson Wyatt tipped to have an edge over William M Mercer and Callan Associates. Frank Russell is a powerful force in Japan, where...

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