Franklin Templeton wins Korea pension mandate

National pension scheme outsources funds to a foreign manager for the first time.
South Koreas $50 billion National Pension System NPS has just mandated Franklin Templeton Investment Trust Management ITM, along with 12 Korean-owned institutions, a two-year contract to invest pension money, according to Michael Reed, country head.

Franklin Templeton is the first foreign-owned entity to be entrusted with NPS funds.

NPS began outsourcing to third-party fund managers only last year, when it awarded W200 billion $160 million among the investment management arms of Samsung, Mirae, LG and Regent securities companies.

It has just expanded that program, spreading out W600 billion $480 million among 13 fund managers. Of that, W180bn went to three local index managers Euri Asset Management, Hyundai ITM, Delta Investment...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222