This article was published on July 11, 2025, at 2:24 p.m. on the ChosunBiz MoneyMove site.
The Korea Inclusive Finance Agency (KINFA) has entrusted the management of its surplus funds, amounting to 600 billion won, to Mirae Asset Global Investments and KB Securities.
On the 11th, according to the investment bank (IB) industry, KINFA recently selected Mirae Asset Global Investments and KB Securities as the preferred bidders in the external outsourced management (OCIO) bidding.
The two OCIO providers will manage up to 600 billion won of KINFA's surplus funds together until the end of 2026. The initial outsourced management amount will be around 200 billion won, with allocations potentially varying based on future performance evaluations.
Previously, KINFA accepted proposals from securities firms and asset management companies from June 17 to 30. Among the four institutions that participated in the competition, including the two selected this time, NH Investment & Securities and Mirae Asset Securities, KINFA chose the top two based on the combined scores of quantitative evaluation, qualitative evaluation, and price assessment.
Last October, KINFA also selected NH Investment & Securities and Mirae Asset Global Investments as OCIOs to manage approximately 350 billion won. Their contract period is expected to last until the end of next year. KINFA's assets under outsourced management nearly quadrupled from 240 billion won in 2022, the first year of OCIO implementation, to close to 1 trillion won.
KINFA plans to invest in domestic bonds with a credit rating of AA- or higher. The upper limit for the interest rate set by KINFA is 6 basis points (1 basis point = 0.01 percentage points).
An industry source said, "Recently, as market deposit rates have fallen to around 2%, the relative yield on bond investments has become favorable, prompting KINFA to decide to expand external outsourcing." They noted that "Mirae Asset Global Investments has highlighted its extensive OCIO track record and advisory capabilities, while KB Securities has focused on organizational capability enhancement and aggressive competitive strategies."