The National Pension Service (NPS) said on the 13th that it signed a memorandum of understanding (MOU) with Allianz Global Investors for a strategic partnership covering all asset classes.
This strategic partnership is the first case in which the National Pension Service has formalized an enterprise-wide global strategic partnership that spans all assets.
Founded in 1998, AllianzGI is a global full-service asset manager that invests across various asset classes, including equities, bonds, multi-asset, and private markets.
As of the end of last year, it manages about $694 billion (999 trillion won) in assets, and more than 700 professionals are active in over 21 global offices worldwide. Since 2006, it has been managing the National Pension Service's investment assets under mandate.
Attending the signing ceremony were Kim Sung-ju, chair of the National Pension Service, and Tobias Pross, chief executive officer (CEO) of Allianz Global Investors.
Through this agreement, the two institutions plan to gradually pursue ▲ the systematic sharing of investment-related knowledge and management experience encompassing all asset classes ▲ mid- to long-term strategic discussions on the global financial market and the macroeconomic environment ▲ education, training, and talent exchanges to strengthen fund management capabilities ▲ and other strategically cooperative activities agreed upon by both sides.
In a welcome address, Chair Kim said, "This strategic partnership is a declaration of cooperation to grow together," adding, "With this agreement, we will turn Jeonju into a living bridge that directly connects to the global asset management network."
Tobias Pross, CEO of AllianzGI, said, "What is most important about this partnership is that it is meaningful in that it has institutionally established a long-term cooperative relationship," adding, "Going forward, we will spare no support to strengthen the National Pension Service's investment capabilities, not only through joint research and knowledge exchange related to investment with the Service, but also through education and training."
Meanwhile, after the MOU signing ceremony, a ribbon-cutting was also held for AllianzGI's Jeonju office near the National Pension Service's location.