NPC in new consultant hunt

The Korean pension fund seeks advice on investing in fixed income.

South Korea's $78 billion National Pension Corporation is conducting its second search for an investment consultant to help it with its next rounds of international mandates, according to fund managers.

Watson Wyatt was hired in 2002 to provide all-round expertise in getting the NPC to make its inaugural overseas investment, and helped it select four managers for a W500 billion $430 million tranche of active and passive global equities mandates benchmarked against the MSCI World Index.

That job was finished last year, and now the NPC is preparing to return to the markets in 2004. Its outsourcing team, headed by CIO KJ Cho, has not finalized what kind of asset classes...

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